I need to get my hands on intraday dow jones data somehow.
As much of it as possible.
If anyone has it msg me on yahoo: niftytradersinc@yahoo.com
Just in case nifty's rise is a wave c look to trade short on something
There is money to be made on the short side for the next few days atleast. Regardless of nifty's trend w3 or wc, you never know till its over
So far nifty has always obliged with w4
The mood of the markets at 3556 this time was a lot like it was at 1900
Though 1900 the valuations were different. The same sort of setups happened on the charts.
Even at 1900 nifty morgan stanley was saying 1700 or something silly and this time they were saying 3200.
Well market didn't care much for their forecast instead market chose to respect the 200 sma support.
Simple technicals , until we are above 200 sma: bull market continues.
Regardless of what your wave count is
Buy into tech companies,
cycle degree w3
CAGR 30% for a few more years atleast, they are still in their growth phase.
ex. tcs trailing 4 qrtr eps 42 cmp 1230-1260 (30x)
next year expected eps 50-55.
If next year the guidance is for 65+ and 50-55 is achieved then tcs would be trading at 1500-1700 next year.
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