20 OCT 2011: ELUSIVE WAVES

Deepawali preparations

Hi guys good morning i hope u enjoyed our call yesterday which was almost bang on word by word...Dear RCG ji has got two scenarios for the present move which are explained in following paragraphs...

1. Scenario (i)

If 5160-5011=149 was Part A of the Corrective

&

5011-5148=137 ( contd.) was B:a

Then Short BINDAS if not done so far with SL at 5217( 5220)

For Target Minimum 5011

2. scenario (ii)

If 5160-5011=149 was Part A of the Corrective

&

5011-5148 ( contd) was B ( though least possible )

Then too short BINDAS if not done so far with SL 5217(5220)

For the Target of Minimum 5011

N.B. Although the Targets in both the scenerios are same at minimum level

But the speed of achieving the target would be different

In scenario (i) it would be little slow than scenario (ii)

Best of Luck

rcg

• Now let us see how trade set up is likely to play ..on the down side...on breach of 5100 nifty should go to 5075 and below 5070 to 5045...once it is in that zone gates will be open for retest of 5010 and below 5000 another 70-100 points....whether we will test 5010 2day, i am not sure...
• On upside will see heavy selling at 5160, 5170 and 5196..2day it looks very difficult to cross 5200...good luck