Suggested here: http://dhanvarshagrp.blogspot.com/2010/03/short-silver-target-below-1685.html
Target was below 16.8 then later downgraded to 16.5 … its trading at 16.55 mark and I see it bottoming out near 16.45… which is near 10,000pips or $1000 on an investment of just $300… 300+% profit in 5 days.
Book out near 16.5-16.45 and go long in Silver with a Stop @ 16.35 for a target of 17+ in coming days…
Buy these dirt cheap Put Options for April series
ACC 950PA @ 29 for April
AMBUJACEM 115PA @ 2.8 for April
BHARTIARTL 300PA @ 8.5 for April
CIPLA 340PA @ 11 for April
NZDUSD is looking weak on 4HR chart for 3 possible targets.. 0.6975 - 0.6927 - 0.6880
Balramchin should have completed its correction cycle today and can give a good return in couple of months.
Buy @ current price of 93 and look for 125+ levels.. may be 132 in next 2-4 months..
No stop loss given as it’s a good stock and should outperform in coming months… hold it with a horizon of 6 months.
Reason behind the cover short/go long in BALRAMCHIN
See how the short went.. instant profit… that is Dhanvarsha :)
Nifty 15min chart and it gave over 40 points. The setup was WolfeWave and two perfect waves traded.
High: 5124.70 / Low: 5097.10
Suggestion was Buy @ 5098 – Target 5125… liked the perfection?
See the recommendation here..
http://dhanvarshagrp.blogspot.com/2010/03/nifty-intraday-go-long-at-5098-5095.html
Waves exists almost always in the charts and this is so satisfactory when you are able to spot them and profit from them.
See the video of Silver’s SPOT chart where there were 2 waves one after another one bullish then second bearish in the 15minute chart
The bearish wave is still pending for its target… I will update you once it hit the target..
Do let me know if that is helpful to you or if you have any doubts.
Update: See what happened after 2 bars
Since everyone is talking about bearish levels so I would start this with a bullish tone for a change.
but first 4650-4700 within by April first week then 5475-5500 by last week of May or first week of June
Watch Video for more detail…
Buy Nifty 5100PE , CMP: 85 , Target 4990 in Spot, Stop Loss: 5210 in Spot
Or atleast hedge your Nifty Longs by adding Nifty Puts.
Current waves in DJI, SPX and even in NASDAQ suggest atleast 5-6% cut from the highs.
DOW & JONES 
Upside Target: 10635, Downside Target: 10040
S&P 500 
Upside Target: 1138, Downside Target: 1075
NASDAQ 
Upside Target: 2318 , Downside Target: 2200
Nifty : Upside Target: 5190 , Downside Target: 4835
I have been busy lately with my personal life and was not trading actively. I wont be trading quite as active for some more time but will be tracking the market when I get some time.
I have been following Gold quite closely and it may be possibly done with the rally and looking for a pull back… maybe a 100% pull back to make a double bottom.
This is the weekly chart setup and if we consider the lower line as target then see how perfect was the target… the estimated price at arrival should not exceed more than 1145 and yesterday it made a high of 1145.18 ( I was expecting a 10% rally from the lows and that is almost over 9.65%)
Now look at this Daily chart and why I see pain in Long Gold situation…
![clip_image002[5]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7gmTlIGL3gXGsUYifiK204MXw9i0UXCjZnASWskLnL7zT8Dp5tjwHdnYff1XlOjcEj8feQoeleku69NqcA4pTCp3LEwkMCh0Ke7JqBELNTPtbFjVqX1-ypI_HvGfG1SN0PL-dyps85g4/s1600-h/clip_image002%5B5%5D%5B3%5D.jpg "clip_image002[5]")
I see it max making an attempt to touch 1155 and then a possible double bottom… argh.. that’s gonna hurt and I already booked my longs and added few shorts at 1143.. I would be a ruthless bear on a breach of 1130
Now let’s look at the S&P 500 Index and see it is also making a bearish wave pattern… although the volume was not great in last two days which is very much needed .. maybe they want to make a final attempt to go short near 1140 levels.
Similar pattern in Nasdaq Composite… be cautious and atleast book profit on longs or hedge your positions.
Today was another green day for US as the indices closed around 0.5% in green. Gold had a good run in the morning but later gave up most of the gains, not only for today but half the gains of yesterday which is expected as it broke out of the channel.
Let the pictures do talking, here is a chart of Gold… remember I have been suggesting it since $1050 levels.
Now there could be two stops… one stop could be at the pink line which does not appear to be the case if we look at the volume and if we are able to break past the pink line then it should inch toward the blue line and make a new all time high in Gold.
Ok, so what about USD… it is playing hide n seek with the ‘sweet zone’ and today once again went back in sweet zone to close near $80.5… which is good for bears to short again or add more shorts. Unless we see a close above 80.85 which was the last high, the momentum remains in the hands of bears.
Ohk.. lets look at S&P 500 chart and why this dead cat was bouncing.. yes it is a dead cat and no surprise if we see a gap down tomorrow in S&P 500. Look how it made a bullish wave which completed its target today… next is what? Possible 100% pullback of this rally and go below 1040.
I am keeping my call to stay short and add more shorts in Nifty, S&P, Dow and USD.. while stay long in Gold… we should further see a good rally in Gold.
Sell Nifty FUT for a target of 4780 intraday , If 4770-4765 holds, then I am expecting a bounce to 4922 above 4930 expect 5100-5200 range... that makes it positional as well
![clip_image002[7]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEim6V-N-TvN0WPCJMd6TkKrc9lSw-VwdIrAmxcGVlQb94EcZjab1bQVe8m5cvWvzwPAN_seNQvdlhWC_Elx8d0YEtBNAhL926FOki8CcZ-iRUPag0gz-BnWZP4K_4-4-B2XE9DO0i0ZXD4/s1600-h/clip_image002%5B7%5D%5B3%5D.jpg "clip_image002[7]")
![clip_image002[9]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjIdELRfx0boEZ0HxCRPhwIhpICyJ73nTS6oQ0iu2-UHDlNrxKyRH2t5DYXa3UM4T5DgrxC_m0jQJBtZYVXfcXeg4czK8xcxTzy8-NQvxcHReLYaxjhWl69kGmawmzWQroHGrFB1d7vCWo/s1600-h/clip_image002%5B9%5D%5B3%5D.jpg "clip_image002[9]")
