Tuesday, September 28, 2010


As indicated yesterday , bounce came near 6000 level .Now the structure of the market is showing weakness ,this may be a consolidation before further upmove or a larger correction setting in for the upmove since 5350.

2d and 5d Volume Profiles show similar traits as yesterday ,i.e., weakness below 6050 level and support at 5960 level.

Option Analysis shows support at 6000 level and resistance at 6100 level .It can be a rangebound last two days till expiry.

Posting an alternate EW count taking as completion of the 5th wave of this upmove since 5350 and setting in of larger ABC correction.

The message of the market is to book profit at each rise and aggresive shorts can be build up near recent top with strict s/l .


Sujatha said...

thank you aarvee for the timely post.

take care.

Hi mok,

busy "yo" busy :)

AAR VEE said...

Thanks Sujatha,

How's the trading going on??
Hope everything is on track

Best wishes.

Sujatha said...

yeah, Aarvee going well after got a slap from Mr. Market.

Back to normal. (in my own way of trading)

Have a good day.

manu said...

pa ji..chaa gaye

u saying "b" sure?

AAR VEE said...


taking this ABC as alternate count as mentioned. Probable count has the 5th running.see yesterday's post ,also it did not breach 5990 so yesterday's action can be 4th subwave of the 5th wave.

whatever the count now ,upmove seems limited . trade cautiously.and book profits