Expect broken support 3800 area to be retested if 3200-3000 holds.
Probably gonna tank once from there, so look for a short setup near 3800. If u.s goes through with the bailout then we might just rally through 3800 but otherwise I suspect it will give good res.
As for the longer term bull perspective
You can place your 1-2-3-4 wherever you like.
Just check the elliot osc, read up on bill will/aget etc. the basic idea is if elliot osc is pulling back to 0 line, then assume w4. If you have divergence and a lower high in elliot osc + a drop then w5 is over.
Simple stuff:
1-2, 3 big wave,
4th consolidation.....
but the 4th must end above wave 1 top...
Thats the key. w1 top = 2000/2004 highs near 2000-2100 nifty.
Fundamentally p.e of 10 for the stock market is pretty much the ground floor for large caps. (trailing 10x = 2250, forward 10x =2600 ish)
I already went all in on friday so I do have a bullish bias.
Some fresh FDs will mature in july or so , so until then I got nothing to do in the market.
Still studying for the CAT.
Still don't have that perfect 6pack..
I think I'll bulk up a bit more then cut back to get a lean muscular look.
Right now 1 rep max on the bench is 200 pounds, Goal is to take that up to 300.
http://www.ncbi.nlm.nih.gov/pubmed/12859029
My BMI is around 22, optimal bmi for my age group is 21.6. So I don't wanna drop too much weight, just wanna drop a bit of fat and replace it with muscle.
Might take a year or 2 to get in perfect shape.
Even my portfolio is a little chubby right now. I have way too much rcom. avg price 400 need to book half in a rally and diversify. The gap down 480 area is mega res and should hold in most rallies.
It might also take the market a year or 2 to get up to any real levels where people like me can earn a profit (I've made 2 major investments this year 4600 and 3200.., now I can't really buy any more and I sure as hell am not selling at a loss considering I am only 27. I can wait as long as it takes. In the long run I'll still outperform FDS.)
Favorite sectors: power, pharma, telecom, metals
If I can free up some more cash will buy REL
on friday I bought rcom/tisco/ranbaxy.
