Starting with an excerpt from my post of 19th Aug,

"My view is (and I may be wrong), after touching 4734 NIFTY is expected to run up to around 5200 level, which is a major resistance now, especially in view that it was a double bottom as well as there was a GAP which has not been filled. Thereafter, NIFTY would run down around 1000 points, down to 4200 level, and this journey shall be completed in about 6 months. And this shall be the 3rd section of the bear market that we are in."

Nifty having achieved both targets on downside and upside, should now resume it's downward journey.

I have some interesting Time analysis for those who are interested in looking the time aspect of the market:

- First run down of NIFTY from 5 Nov 2010 (last Diwali) to 11 Feb 2011 was 98 days

- Second run down of NIFTY from 8th July 2011 to 26 Aug 2011 was 49 days, which is exactly 50% of the time range mentioned above

- Both above ranges were almost equal i.e. 1035 and 1042. So 100% in price and 50% in time.

- NIFTY made a HIGH in 5174 on 8th Sep 2011, seemingly completing its retracement journey of 14 days.

According to me, we should see NIFTY around 4550 by 26th October 2011 i.e. the day of Diwali. It is a very important pressure date and we might see the LOW of 2011 made on Diwali. Whether this Diwali it is the LOW of the year or not, will be decided by the Muharat trading. If NIFTY closes above the Open price in the Muhurat trading, it would be the LOW of the year and we would see a strong year ahead for NIFTY. The reasons that I say the date of 26th October is important:

1. It is exactly one year in terms of Hindu calendar i.e. from one diwali to another

2. It is an anniversary date of the last bear market Low made on 27th Oct 2008

3. If you add 49 days (time taken to complete section) to 8th Sep (once it is confirmed as TOP), it gives you a date of 27th Oct.

4. We had the 2nd Section completed on 26th Aug. Earth would have moved 60 degrees by 26th Oct.

5. We had some intermediary Lows and HIGHs made on 29th Oct 2010 (360 degrees), 26th Nov 2010 (330 degrees), 25 Feb 2011 (240 degrees), 25 May 2011 (150 degrees).

[exact Multiples of 30 degrees are important in GANN's technical analysis)

Let's watch out for the Muhurat trading on Diwali day......

I strongly recommend investors to stay away from this market for another 2 months or so, or at least till Diwali. You won't repent your decision !!!!

...is wondering if good Customer service really exists? If there is a problem, you have go through the same bureaucracy, in the name of process and workflow. and worst that the customer care executive(s), don't care at all for you. another bad experience with Letsbuy.com. If I have advised any of the friends earlier to buy through them, please don't take my advice.