Clash of the titans expected at old highs 4184/4240

Lots of shorting opportunities might be present in stocks that display weakness when nifty touches 4184-4240.
However nifty itself should remain strong.






All timeframe trends up
nifty went into buy and hold long mode above 3900 and the most recent entry triggered near 3986 NF above 4000 spot. This was mentioned in the last post.

Right now big guys will fight it out near 4240. Lots of stocks will get bashed but 4440 is likely on nifty.
See old post for fib targets using the pivot near 3556 as the point for projecting the alternate.

Some stocks will double top and go lower, Some stocks won't even make it to old highs.
Some stocks are so far from their old highs like it looks they will never get there.
See last post prithvi, temporary selling pressure thanks to rupee strength.
If you want to outperform the markets long term the secret is contrarian+value investing. Look to buy weakness in tech for delivery positions.
Short term more upward momentum seems to be in banks/realty/rate sensitives which are now breathing a sigh of relief after rbi didn't hike.
Just go back a few weeks to convince yourself. BOB was trading at book value in this whole crr hike fiasco/interest rate fears.
While most banks trade well above book value!! BoB even has good growth rates of 30%+
So fundamentally it was screaming buy at p.e of < 10x and <1x book value.
Orientalbank another stock was at p.e of 5 almost albk was at p.e of 5.
Technicians were shunning banks then, they will be shunning tech now.
Understand the fundamentals first when you buy delivery and try to play for the long haul. News comes and goes, greed and fear cycle endlessly in the markets. Look at hcc now. breakout mode. Everyone wants a piece of it :). Prithvi will be the same way above 308 But the dip is right now
Prithvi
Retracements :252.5-303
0.236:291.082 0.382:283.709
0.5 :277.75 0.618:271.791
0.764:264.418

Invest near 277-272-264 and forget about it for a while
Worst case old low 252 some fake moves maybe 240
but it will touch 400 if you can hold against all the temporary panic that the re can appreciate infinitely. Just like earlier there was temporary panic that the rbi would just keep hiking rates!!


Remember nifty is the strongest of them all it should make a new high eventually.
2 swings are active
one saying 4184-4190 res from old high + 1x risk level+t3
Other swing is saying
4440 on longer term charts

S&P CNX NIFTY, Analysis Date:4/24/2007
Close/cmp:4141.8
Swing : Up=Buy ( 6.800% sensitivity)
T1:3836.74 T2:3971.58
T3:4189.73 1xR:4184.3
SwingHigh:3,901.4 CMP:4,141.8
SwingLow:3,554.7 SLPivot:3,618.6
2xAtr14Stop:155.116
Narrowsl:3,618.60
WideSl:3,443.23
Lower Chan:3669.86 Upper Chan:3976.16

Also will mention the brute force swing levels above 4240
S&P CNX NIFTY, Analysis Date:4/24/2007
Close/cmp:4141.8
Swing : Up=Buy ( 10.000% sensitivity)
T1:4595.07 T2:5238.14
T3:6278.51 1xR:4929.3
SwingHigh:4,242.0 CMP:4,141.8
SwingLow:2,878.7 SLPivot:3,554.7
2xAtr14Stop:155.116
Narrowsl:3,554.70
WideSl:3,128.57
Lower Chan:3727.6 Upper Chan:4564.37
ResLine:4665.36
Above 4240 nifty opens 4440 if you wanna do elliot wave finesse. Frankly speaking, not a big fan but the only reason i mentioned the 4440 level is because it is a monthly chart trendline.
Brute force pivots suggest 4600-5238 will open on nifty once 4240 is cleared.

Nifty sl for trend is closing below 3900 only
Until then its mega bullish.