Before GOD..!!!

Paulo Coelho

An old man sold toys in the Baghdad market. Knowing that his sight was not quite perfect, his customers sometimes paid him with fake money.

The old man discovered the ruse, but did not say anything. In his prayers he asked God to forgive those who cheated him. “Perhaps they’re short of money and want to buy presents for their children,” he said to himself.The time passed and the old man died. Standing before the gates of Heaven, he prayed once more:

- Lord! - he said. - I am a sinner. I did many wrong things, I am no better than the false coins I was paid. Forgive me!

At that moment the gates swung open and a Voice was heard:

- Forgive what? How can I judge someone who all through his life never once passed judgment on others?

Nifty's weekly TA gives a buy signal..

With today's price action, the weekly has entered a "buy mode"..by closing above 5 wk.avg/ema and 2 wk swing reversal up. It could be a false one. Watch the follow up price action..
There is another parallel channel in hourly, which could target 2865 in case of Nifty trading above 2815 on Monday.
Till that happens, the earlier view stands..A "D" leg completed at 2836 and an "E" leg down has commenced. A move below 2770(2-Day Swing reversal) & then 2737 will speed up things.

Nifty at Cross roads here..Should be resolved in the coming days."OB" readings are getting resolved with intra dips till afternoon and bullishness returning post 2.00PM.

As the move so far looks like an impulsive kind and few big stocks having cleared their earlier highs corresponding to Nifty's 2970(ONGC, SAIL, etc), the 5th wave down could be treated as a triangle having ended at 2539. Further price moves would confirm such a scenario.

Nifty adamant at the top as it was at the bottom..

Nifty corrected for the -ve div of the hourly and found support at the S1(2772) after nearly reaching the R1(2824) in the opening. So a sideways move is on with a range of 2836--2770. 2 day swing reversal will be a break of 2770. Trade accordingly..Heart says "Fall"...Will it.

As we are nearing the settlement and the US having their Quadruple witching tomorrow, quite a lot of action may be expected soon.

Time and again, the pivot table has been quite handy..
Trade safe..

Nifty does a reversal at the channel top..now for a follow up..!!

Nifty, gapped up , above the pivot, surpassed the R1 & R2 and promptly sold off with -ve divergences in the hourly charts while getting resisted at the channel top. A reversal candle formation has been made in the daily charts to be confirmed by a follow up selling. It is still trading above 5 avg @ 2741.
This fall can take the nifty to 2740(5 D Ema), 2710(5 D.Low ema)., below which 2675 should offer supports. A close below 2740 is a confirmation of daily sell.

"D" leg of the diagonal seems to be over and the "E" leg may have begun to be confirmed by a fall below 2740. Dow Jones, too, may have ended its "zigzag"-4th up and may resume a 5th down.(Dow hourly too have some negative divergences.) These are the expectations to be confirmed by the mkts.

If you can restrain yourself and wait for the opportune moment to strike, today was the day.

Nifty shows fatique but not confirmed a "Sell".

Nifty got resisted @ R1(2805) and broke the Pivot(2754) but managed to close above.
A correction upto 2650 area in the next 2 days can adjust the "OB" technicals & will still keep the hopes of another attempt at 2800-2830 area.
Presently a sell is generated in the hourly but daily in upmode & the weekly in downmode.Nifty is quite close to the channel top but the vertical move of the last few days has set in a short term weakness that was evident today with some -ve divergences. Trade light for a couple of days.
There is a inverse H&S formation possibility with shoulder support @ 2675 and the neckline @2805.
As long as the channel is not broken on the upside around 2835 with a critical 2860 to be scaled, a fall ("E" wave of the ending diagonal)towards 2550-2500 is still to be taken into consideration.
Trade light for a couple of days.

Nifty rallies up into the resistance zone after taking support at the Pivot(2704).

Trading past the R2 (2764), Nifty reconfirms a strong momentum.
It is heading to 50DMA @ 2806 and 100DMA @ 2840.
There is no negative divergences in the hourly charts.However, they are in the "OB" area.Partial Profit booking may be done at 2800& above or keep a TSL @ 2750.
The move thus far looks impulsive kind, to be confirmed by a break above 2840. Till then, we will treat this as "D" leg.If Nifty stalls near 2780 - 2810 levels, a correction may follow.
Reliance moved past its last fall starting point of 1317 in quicker time, suggesting a reversal.For Nifty, it is 2806.
Read the charts as per world cues. If the "OB" world mkts corrects, then we will have one. If not allow this to run its course & let it show its exhaustion. . Until then, ride on quietly.

Accepting some mistakes.

By Paulo Coelho

The German philosopher F. Nietzsche once said: “it is no use living arguing about everything; it is part of human nature to make a mistake now and again.”

Yet we all know people who absolutely insist that they are right even down to the smallest details. We ourselves are often included in this category: we don’t allow ourselves to make mistakes. All that we achieve with such an attitude is the fear of moving forward - because certain steps call for new decisions whose results are unknown to us.

The fear of making a mistake is the door that locks us up in the castle of mediocrity: if we manage to overcome this fear, we are taking an important step towards our freedom.

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The biggest mistake lies in not trying, not living, not pushing our boundaries. As for the mistakes we make in the process - they are not mistakes - they are part of our education - Someone called it the ’school money’. Don't regret the mistakes, - they were all part of our learning curve, and there’s no shame in learning.