The update is a followup of last post's insight. A short term correction is on and may extend further or remain sideways this week .
Below is an EW chart with the trading probability .
So weakness continues till trades below 5815 and further bearishness below 5630 level to the targets mentioned in the last post that of apprx. 5520 - 5440 . Will review it above a close of 5730 level where the shorts positions may be hedged /added till a close above 5815 level.
I wish Dr. Kumar of Kumar Technicals , a friend , guide and ace trader, All the very Best for starting his Subscription services today. He may be reached at firstname.lastname@example.org for further details
Thanx for your post & good wishes, so nice of you for your kind gesture.
good one rv
Thanks for the follow up post sir :)
Thanks dear Kumarji ,Piyush and SP for leaving ur comments.
Hi Aar Vee: Had a fleeting thought.. SEBI regulations require registration of all portfolio advisers.. Do you think websites offering such services come under its purview especially if they are paid ones? May be one needs to go thru those regulations to ensure compliance
Hi KRG ,
Can understand ur fleeting thoughts.
SEBI does requires registartion of PMS services , whose min investemnt amount now have been raised from rs. 5 lacs per client to rs. 25 lacs per client on Jan 28 2012.
There are no guidelines as such for websites providing paid calls and it solely depends on mutual understanding & trust between the client and service provider.
I hope u also know that blogs like urs and mine,chat rooms,messenger sites providing share market tips,analysis and news are also vaguely covered by SEBI regulation after an Anil Ambani complaint.
In continuation with above ,
These websites are unpaid sites and are primarily of brokers and markets intermediaries for whom the regulations are but can loosely cover all blogs and forums /chatrooms covering stock markets .
The SEBI regulation for interested financial intermediaries require monitoring of blogs etc.. So few Institutions went ahead and blocked all sites. In fact that's why I cann't access blogs from office and you find my presence only once in a way. My presumption on paid blogs is different. They are better done thru corporate structures like probably Kumar Technicals is doing
Thanks RV, god bless you
karthikg: Does the flash crash satisfy your requirement of a sharp fall? Granted one couldnot trade it but it did come about at a time you predicted?
@KRG the crash did come about at the range and time as expected.But the recovery was instantaneous so we in all probability could drift down further over the next few days towards 5450-5500 levels before staging a dramatic recovery (perhaps on the back of a rate cut? or something else like reforms etc) towards 5900++ levels.In my humble opinion one should get out of the markets completely near that 5870-900 range.
Thanks KRG and Karthikg for sharing ur views.
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