BULLISH COUNTER FOR THIS WEEK IOB , OBC, UNION BANK, SHREE CEMENT

BEARISH COUNTERS CIPLA, BHEL ,SUN PHARMA

From the elliot side and patterns made i was expecting a corrective upmove from 11k-11.9k of an extent of 50 % of fall from 15.5k , after which it could be seen whether markets would head to 9500 zones in the last and final wave or confirm whether we have already seen the last. Also for every down move from January top markets have retraced a good amount after losing 28-30 % . 21200 to 15300 was 27.7% , 17735 to 12514 was 29.4 % , So goin with this pattern we could have seen a bounce from 10900-11200 levels and then could have had a move similar to 20 % as we did in previous two corrrectives. After which we could have been more clear about 9500-9700. But this pattern seems to have broken and markets have touched 10200 already which is not far from 9700 but still is not yet a confirmed bottom of as of now. For the major long term run which i have been highly bullish since we broke out above 7k and in our view at 8k in Sept 2005 that we were in for a big 13 year breakout move which has started in 2005 and could well last till 2018. This 13 year cycle continues to remain in place till we dont break below 8500-8800 on weekly/monthly closing. Have attached the charts for the flag formations which i had shown in 2005 too when people were not ready to believe the big run. Also according to the 13 year cycle we have completed the 1st phase at 21200 and are in the bear phase which can take us to 8800-9700-11900( now out ) . After which the next bullish phase of the 13 year cycle can start in 2009 mid or end or 2010 end -start2011. But yes if one has committed some cash at 11k-11.9k levels then the next level to wait would be 9.5k or wait for a confirmation technically which should emerge more clearly by Jan-March.