Dow breaks out

Dow breaks out above 12.3k+ after fed didn't hike
This usually happens and global equity markets usually use this as an excuse to rally.
This pattern has worked last 10 times.
we should try 3775/3800 breakout
3840-3900 targets

Bhel 2100-2200 range
baxy 330-340 range
rcom 416-434-440 range

Remember the slightly longer term view.
50-70% retracement of entire fall
and then more downsides
The alternate bullish possibility is that 3556 will hold and 4440 will come

3900 or so is where i would hunt for positional shorts regardless of what cnbc analysts are saying
remember cnbc was saying don't catch this falling knife at 200 dma

I mean we buy the year around
every day everyone reccomends a buy
and then at the moment of reckoning
when nifty pulls back to 200 dma for the first time in the year you can't reccomend a buy??
How silly is that?? Everyone who bought the year around is sitting long with avg price of 200 dma in their portfolio. If you take us below 200 dma then there are no profits too book!!!!!


remember 2004 top
Tops take a while to form I expect a c wave to the downside but this B wave sideways could take a long long time.
3840-3900-3940 are likely
bulls will only hit the panic button below the 200 dma thats when we have to worry about stuff like lower circuit.


If you don't like predicting nifty
then use a proper trend following system
7/105 on 10 mins or 7/105 on hourly are both suitable
http://niftytraders.blogspot.com