I think time has come to book profit in NIFTY INDEX....And be on reverse side With NF SL of 6078. May be we see upside in stock specific rally...

Look like 5 wave downmove complete from 5448.6 ....(4th down (A))

(1) 5448.8-5371 : 77.8

(2) 5371- 5399.15

(3) 5399.15- 5255.05 : 144.1 (181 % of (1)

(4) 5255.05- ended @ 5332(high made 5342.8)

(5) 5332.8- 5215.7 : 116.3 (Ending dig (sw1>sw3>sw5)....is valid only if NS not go below 5215.....

but this low ll be confirmed only if we break upper trendline..connecting 5448.6 to 5342.8 i.e. presently @ 5270 in hrly chart. and ya 2 imp fractle breakout point 5279 and 5297...

GOING TO START NEW JOURNEY....WITH BANGSAR AND ELIOT WAVE.
I AM COVERING
NIFTY, AXIS BANK, LT, TATASTEEL AND COPPER, CRUDE

PERSONALLY I DO TRADE ONLY IN THESE COUNTER. 
SAR, SL AND TARGET I M DECIDING PERSONALLY FOR ME...
I M PUTTING ON MY BLOG JUST TO KEEP RECORDS.

OUTLOOK FOR 27TH JAN 2012

SHORT BELOW 5101 (NS)
LONG ABOVE  5132 (NS)

LONG TARGET 5208 (5230) . AND BELOW 5101 FIRST INTRADAY SUPPORT AT 5076. AND 5050.

BANGSAR POSITIONAL : 5050 (NSEOD)

MARKET OUTLOOK FOR 25TH JAN 2012

SHORT BELOW 5056 (NS)
LONG ABOVE 5091 (NS)

TARGET 1ST ACHIEVED OF 5157.....2ND TARGET 5208 (5230) PENDING.....

BANGSAR (POSITIONAL) : 5004 (NSEOD)

NIFTY OUTLOOK FOR 24 JAN 2012

NIFTY SELL BELOW 5017 (NS)
NIFTY BUY ABOVE 5037 (NS)
TARGET REMAIN SAME AS IN WEEKEND POST.

BANGSAR (POSITIONAL) : 4971 (EOD NS)

WEEKEND UPDATE FOR 23 JAN- 27 JAN

FOR 23 JAN 2012

SHORT BELOW 5001 (NS)
LONG ABOVE 5027 (NS)

BANGSAR POSITIONAL 4944 (NS EOD)

5157 AND 5208 (5230 FOR GAP FILL) ARE TWO POSSIBLE TARGET ON UPSIDE....I LL BOOK 50% PROFIT AT THESE LEVEL. DOWNTREND WILL CONTINUE BELOW 4980 AND 4927, 4886 IS PART BOOKING ZONE FOR SHORTS.