Week in review : 16 Nov ~ 21 Nov.
Monday was a Diwali holiday. A slightly shortened week saw Nifty in a tight range of 233 points (from high of 12,963 to low of 12,730).
Below we provide some excerpts from our posts of the week gone by. (Full posts accessible to subscribers only).
16 Nov Mon : Free Post of BSE Power Index “Target above 1800 has been met.”
17 Nov, Tues : BSE Metals excerpt when price was at 9461 “From previous post of 23 Oct when price was 8534, “Both counts below are bullish near term…Price is heading up to new highs above 9372 in a subminuette degree wave iii.”
18 Nov Wed, Nifty 50 excerpt : “Price has touched the upper channel line today when it crossed 12,900.”
18 Nov Wed, Bank Nifty excerpt : “Minor Wave 3 has reached the 200% fibonacci extention of wave 1 (after having breezed past the 161.8% extention).”
19 Nov Thurs DJIA excerpt “The Dow is looking exhausted. The recent high at 29,964 has made a new small high as expected.”
19 Nov, Thurs BSE Oil & Gas Index “Both earlier counts showed a minimum target of 13,200 (when price was at 12,058). This target has now been met with a rally of 10% since prior post of Nov 5.”
19 Nov, Thurs, excerpt Nifty 50 “It is now quite likely that wave 3 of minute degree is…”
20 Nov Fri, Nifty PSU Bank Index excerpt “Ichimoku chart : Price has closed above the cloud for the past 2 days, but today has slipped into the cloud”.
20 Nov Fri, Nifty Realty Index “Price has pretty much followed script. If compare previous chart of 2 Nov, one can see how the rally has unfolded…On the daily chart, Wave (iii) of minute degree is sub-dividing into its own 5 sub-waves..”
21 Nov Sat, Bank Nifty “The very short term picture is clear….”