INDIACHARTS^®

INDIACHARTS^® IS A SCIENTIFIC ANALYSIS OF THE INDIAN AND GLOBAL STOCK MARKETS UPDATED IN REAL TIME AS AND WHEN AN OBSERVATION IS MADE WITH A VISION TO STAY ABREAST WITH THE LATEST TRENDS AND CHANGING INVESTMENT LANDSCAPE AND HELP YOU GENERATE PROFITABLE INVESTMENT AND TRADING IDEAS.

The updates are posted on the website in real time and are sent out clubbed together FREE to "Google Group" members. The Free sections include the Weekly Nifty update on Monday, world markets, Inter market analysis global commodities and currencies. Those interested in Daily and timely updates on Nifty including Video updates Join our Subscription to 'Indiacharts Insiders' section. The insiders get Nifty Daily, Gold Daily, USDINR, Monthly Long short report forecasting the Nifty view for the month, Elliott wave Videos and all the free updates during the day on email with the option of customising your email preferences. Start your Indiacharts experience right away, 

ELLIOTT WAVE THEORY is the foundation on which the framework of forecasting, human behavior reflected in stock prices across time frames, is built. Its combination with Technical analysis allows the generation of clear trading ideas and trend forecasting [candlesticks, momentum cycles, sentiment indicators, moving averages and automated trading systems]. Its combination with economic theory allows forecasting the investment environment. Its combination with the fundamental life cycle of an investment allows for long term stock picking. At Indiacharts we cover all these aspects of research while making a forecast.

MY MISSION : QUALITY EQUITY RESEARCH FOR EVERYONE : In a world overwhelmed by information media news and chaos, where research has become a support function, with the object of maintaining information and generating reports, true forecasting will find its place in the Sun. In trading its all about sticking with the method through thick and thin, generating trades on an ongoing basis with the larger trend in mind. In investment its about finding a few ideas to hang onto. You don't need a 100 investment ideas to make money. Just 2 will do. Nuts...

		Rohit Srivastava: ' Indiacharts® is a live update of my market analysis for public reading. My views are based on my understanding of the markets after years of such analysis, since 1991. MORE ABOUT ME  Visit my network on the left and share it. Start your Indiacharts experience JOIN the free mailing list. OR Join Indiacharts Insiders

MARKET UPDATE: 10 MARCH 2014

NIFTY DAILY :- The Daily Nifty forecast of where the markets are headed available Inside Indiacharts

MEDIUM TERM

Nifty broke past all the previous highs into a new record. Weekly indicators went back to a buy mode and the question to ask is are we at the start of a bull market. Are all the corrective wave counts complete in a consolidation phase and a bull market ahead of us. I try to answer that question in great detail in the latest Long short report. But from a weekly chart perspective the trend turned up and bullish alternates must be looked at. The bearish rising channel is at 6600 above which the bullish target is at 7350. 6214 is the key support level.

  LONG TERM COUNT 

THE LONG & SHORT REPORT :- The LSR is our detailed monthly forecast of where the markets are headed, including sentiment indicators, inter market analysis, wave counts and a global perspective . Report now available Inside Indiacharts.

Long term Perspective and Basis: 

The latest Kondratieff cycle [Kf] is the only one that gives economic perspective to the business cycle and its impact on stock markets. That an Kf Autumn bull market started in 2001 there is no doubt in my mind now. I have discussed the possibility of a late Autumn bull market bubble like the Y2K repeating if India chose to stimulate the economy last year that possibility now seems ruled out as attempts at inflating the economy failed due to overheating. We continue down into an economic winter without that aberration, unless as a country we choose hyper-inflation. We have not been able to find a way to lower both inflation and interest rates while the private sector gets deeper into debt. The only solution was to attract global money to replace the contraction by government. In a weak global environment that looked difficult but alas we are at least trying. The results so far are negative.

Those hopeful of a bull market ignition should now have been pushed to the sidelines. Since the market has spent a lot of time at the upper end of the trading range in wave X, with participation from fewer and fewer sectors on the upside, the last leg down to be marked Z on the chart below will achieve all the targets of the Long term bear market before it ends in the next 1-2 years. Wave Z starts when all the sectors complete making Long term tops and decline and there is no defense.

The late summer bull market might have only helped in ending wave 3 [Y2000] of cycle degree as shown above. This has led to the belief that a similar event might recur today [Y2012-13]. The weakness of the broad market that continues today is not a signature of such a possibility and without broad market strength you don't get a bull market. I have seen 4 bull and bear markets since 1991 and no matter what anyone tells you bull markets are broad based and every company irrespective of fundamentals goes up. The rise of the fundamentally weak is a signature of bull market strength. So we remain in a bear market since 2008 in the index. Wave Y was anticipated to be an extended decline but truncated within 38.2% retracement of X. The recent X wave retraced 100% of Y in 2013. Wave Z down is likely to test the long term rising trendline at 12500 on the Sensex.

Visit my networks on Elliott and long term Cycles on the left and share it. JOIN the free mailing list. OR Join Indiacharts Insiders