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The views expressed are based purely on Technical studies. The calls made herein are for information purpose only. The information and views presented here are prepared by Devang Shah.The information contained herein is based on my analysis of the Charts. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it. The Investment discussed & recommended on this website may not be suitable for all. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent Views, as they believe necessary.
While acting upon any information or analysis mentioned on this website, investors may please note that neither Devang Shah nor any person connected with him accepts any liability arising from the use of this information and views mentioned herein. I may hold long or short positions in the securities/commodities discussed herein from time to time. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities/commodities, or any options, futures or other derivatives related to such securities/commodities.

Indices

Thursday, March 14, 2019

INDICES:

INDICES:
INDICES:
BULLS ARE BACK AGAIN 2019: ITS PARTY TIME ONCE AGAIN:.

BEGINNING OF PENDING WAVE-V OF 3 FROM MEDIUM TO LONG TERM WAVE COUNTS PERSPECTIVES.

OPPORTUNITY FOR MEDIUM TO LONG TERM INVESTOR ONCE AGAIN TO BUY STOCK SPECIFIC AT CURRRENT LEVELS OR ANY KIND OF DECLINE OR CONSOLIDATION FOR HIGHER LEVELS TARGETS IN MEDIUM TO LONG TERM:

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Makret reamined corrective for whole calender year of 2018. We have seen sharp correction around 26% to 34% particularly in midcap & Small cap indices respectively for the entire calender year of 2018. While main indcies such as nifty /Sensex & Bank nifty witnessed correction around 16%-17% from all time high levels during the calender year of 2018. And these indices traded/Consoldiated in broad range for entire period of calender year 2018. It was very tough year for Bulls. We have seen portfolios declined around 25%-40% during this period. Even we have seen stocks particulalry from midcap & Smallcap indices to be down around 50%-80% during this period.

It looks like BULLS ARE BACK AGAIN IN 2019 & ITS PARTY TIME ONCE AGAIN. Sensex , Nifty & Bank nifty closed around 37754.89, 11343.25 & 29024 levels respectively on 14.03.2019. It looks like begining of wave-V of 3 from wave count perspectives for higher levels taregts as mentioend below.

One can expect higher levels targets of around 42450-43000 levels on sensex, 13000-13200 levels on nifty & target1-32500/33000 & target2-34000 levels on bank nifty from medium to long term perspectives till it reverses. And it looks like high probability of achieving these targets in this calender year only.

One should buy stock specific in portfolio to get benifit of this bullish trend which will also supported by appreciation of Rupee against USD as per my view of (USD/INR) on 16.11.2018. Midcap & Small cap indcies are also going to make new high as per chart attached. Its going to catch up in this rally with out much more correction.

As mentioned many times in market outlook column that BUY stock specific on dips which turned out to be favourable for investor. This correction is turn out to be part of long term bull market And also giving opportunity for systematic value buying in stocks in any kind correction or consolidation stage.

9950, 32483, 23600 levels are support/Reversal levels for Nifty, sensex & Bank nifty respectively for medium to long term persepctives for this view at current levels of market. One should also look periodically market outlook for latest update & revised targets & trail stoploss/ Reversal levels.




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