Saturday, December 27, 2008

Oye Lucky, Lucky Oye..!!!


Why do some people have all the luck while others never get the breaks they deserve?

Why are some people always in the right place at the right time, while others consistently experience ill fortune? Research over the years reveal that although these people have almost no insight into the causes of their luck, their thoughts and behaviour are responsible for much of their good and bad fortune. Take the case of seemingly chance opportunities. Lucky people consistently encounter such opportunities, whereas unlucky people do not.

A simple experiment to discover whether this was due to differences in their ability to spot such opportunities... Both lucky and unlucky people were given a newspaper, and asked to look through it and tell how many photographs were inside.A large message was secretly placed halfway through the newspaper saying: 'Tell the experimenter you have seen this and win $50'.

This message took up half of the page and was written in type that was more than two inches high. It was staring everyone straight in the face, but the unlucky people tended to miss it and the lucky people tended to spot it.

Unlucky people are generally more tense than lucky people, and this anxiety disrupts their ability to notice the unexpected.
As a result, they miss opportunities because they are too focused on looking for something else. They go to parties intent on finding their perfect partner and so miss opportunities to make good friends. They look through newspapers determined to find certain types of job advertisements and miss other types of jobs.

Lucky people are more relaxed and open, and therefore see what is there rather than just what they are looking for. The research eventually revealed that lucky people generate good fortune via four principles. They are skilled at creating and noticing chance opportunities, make lucky decisions by listening to their intuition, create self-fulfilling prophesies via positive expectations, and adopt a resilient attitude that transforms bad luck into good.

Another research on a group of volunteers to spend a month carrying out exercises designed to help them think and behave like a lucky person... Dramatic results! These exercises helped them spot chance opportunities, listen to their intuition, expect to be lucky, and be more resilient to bad luck. One month later, the volunteers returned and described what had happened. The results were dramatic: 80 per cent of people were now happier, more satisfied with their lives and, perhaps most important of all, luckier.

The lucky people had become even luckier and the unlucky had become lucky. Finally, the elusive 'luck factor' was found. Here are four top tips for becoming lucky:

1) Listen to your gut instincts ^ they are normally right.
2) Be open to new experiences and breaking your normal routine.
3) Spend a few moments each day remembering things that went well.
4) Visualise yourself being lucky before an important meeting or telephone call.

Have a Lucky day and work for it.
The happiest people in the world are not those who have no problems, but those who learn to live with things that are less than perfect.

The author of `The Luck Factor'-- "RICHARD WISEMAN" teaches at the University of Hertfordshire.
(Reproduced here from "The Times of India".)

Friday, December 26, 2008

Nifty continues the downtrend towards the critical 2810-2800.

Nifty continues to trend down towards the critical channel support around 2800.
Break of 2800 will increase the downwards momentum (2775 is another pivot low to be protected to arrest this downtrend.
Bounces for the short term oversold conditions has not brought any meaningful bounces.
Watch for any buying interest at 2800. If fails, more downsides. A very strong resistances created at 2905 & 2960.






Wednesday, December 24, 2008

Nifty pauses at 2900, closes at last weeks close.!!

"MERRY CHRISTMAS" to All.



Nifty found support at 2900 today and closed near last week's close.
There is another channel bottom comes at 2800 below which downtrend will become faster.
Though hourly indicators are at the bottom, there are no +ve divergences.Hence, further lows are possible.
If Asian Cues are + ve,we may have a bounce(2900 holds) to 2960, above which to 3000.
If Asian cues are - ve, a fall below 2900 towards 2860 failing which 2800 possible.
As the daily technicals are in down mode, use any bounces to sell only.
Imp: Ability of the market to find a bottom near 2800-2860 area and reverse in the next 2 to 3 days will help reach higher levels.However, a decisive fall below 2800 may lead to much lower levels/ new lows.
These are the two options for which the clues should emerge in the next few days.
Another Major point is that we will be ending the year & the month in the next 4 days.Month has performed well thus far but the year is quite catostrophic. So to which end it will go to close...monthly bullish or yearly bearish..??







The Indian Market Monitor: Sensex and Bankex

Tuesday, December 23, 2008

Nifty confirms the channel break, heading to 2850-2820 area

Nifty has broken the trendline of this rally from 2570 to 3110 on a closing basis.
As there is a +ve divergence in 5-Min time frame and the hourly are in the oversold region, a bounce may be expected if the Asian cues are positive.

If there is a negative cue, deeper fall may be possible.

Technically, the daily sell signal is triggered. Resistances at 3020-3050 need to be cleared on closing basis.2900-2920 area is the last hope for bulls to return for the short term.Trading below 2900-2920 may lead to faster fall to 2810-2820 area.

Needless to say, volatility will be high tomorrow.Trade carefully.

For stock pickers, Deepak's Blog has some interesting ideas.





Nifty's corrective phase..?

There are resistances at 3050 to 3080 area and a possible supports near 3000 levels.
Break of 3000 will bring in swift selling towards 2980-2960 & 2930 levels.
Depending on the nature of bounce and its ability to clear past 3075 will bring in more upsides as long as 3000 holds.

Monday, December 22, 2008

Nifty stalls at 3100 again and corrects..

Nifty attempted a breakout but weakened due to the long pending negative divergences in the hourly time frame as well as some long unwinding.A trade below 3020 will lead to a channel breakdown leading to more corrections. However, 5 minute being highly oversold, a bounce off the lows will materialise. A broader trading range of 2910 to 3110 may be in place.
Daily trend is still in upmode as of today....Watch those trendline and resistances & supports and trade accordingly.