Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, April 6, 2009

Replies to comments

Amit Gulati wants to know what a death cross is. A crossover resulting from a short-term moving average breaking below a long-term moving average is a death cross. Death because it is bearish .

Manoj Chopra said, Good Postings - but want to clarify few say bear market rally but target 4820 , if we go to those level -still u think its bear market rally.The target you have given on fib(4820)levels -50% levels are placed at 3450 -do u think that mere getting past the 38.2% fib levels - we are a bull trend.Are we not forming a sharp rising wedge- isn't it gives some scare?

4820 is the target of the channel breakout. Channel breakout targets are measured by the height of the channel. The target may not be achieved immediately. It may be a few months too. I keep reminding about the bear market as it is important for risk management-- the way we place stops, amount of capital commited etc. I said we have got past 38.2% fib levels so the trend is more bullish than bearish. By this I do not mean we are in a bull market. The immediate trend is bullish till we have reasons to get bearish. The rise is sharp but I do not see a rising wedge.

I would really be happy and thankful if such questions are posted on the discussion forum. More techies can interact . Also, I have not been authenticating few requests of registration to the forum as there is a lot of spam. Please register with usernames that have some link to your name so that I can differentiate . Else send me a mail giving your username. The link is available on my website

More with my analysis tomorrow

Happy Trading !!

Lakshmi Ramachandran

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