2 day swing reversal will be below 3354. Major support level at 3307-3312 which might offer a bounce incase of flat world mkts. Break of 3307 will lead to more heavy unwinding.
Friday, April 17, 2009
Nifty closes below 5 DMA for 2 days but 2 day swing reversal below 3354.
Oversold Nifty rallied by 80+ points in the morning and selling emerged at higher levels. This market is tired and asking for some rest..
2 day swing reversal will be below 3354. Major support level at 3307-3312 which might offer a bounce incase of flat world mkts. Break of 3307 will lead to more heavy unwinding.
2 day swing reversal will be below 3354. Major support level at 3307-3312 which might offer a bounce incase of flat world mkts. Break of 3307 will lead to more heavy unwinding.
Thursday, April 16, 2009
Nifty Bears come out to defend the 200 DMA & Bulls book out..!
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At 6.40 A.M-17.04.2009
With positive world cues, Nifty bulls will counter the down candle of yesterday with an UP candle..Trading above 3420 & 3440 will confirm the same. However, higher levels will continue to invite profit booking. Use the Pivot table..3412 to initiate longs for the day..And of course the "ORB"...(Many stocks might attempt to close at the higher end of the weekly range and Nifty too...and US mkts also likely to end higher tonight..)
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Bears have given a "Dark Cloud Cover"..Now it is up to the bulls to show their strength to defend 3335 & 3305, failing which a deeper correction to 3225/3150 possible. Incidentally last week's close is 3342. Will there be a weekly bar reversal..???
Nifty has closed below 5DMA, and a first day bar reversal...staying below one more day will confirm more corrections to follow indicating a larger correction to the entire upmove from 2539 to 3510.
Don't stay long at higher levels till the TA corrections get over.
"ORB" has been quite helpful on most days for day trading and today was no exception to it..It is worth remembering this strategy on critical days..
At 6.40 A.M-17.04.2009
With positive world cues, Nifty bulls will counter the down candle of yesterday with an UP candle..Trading above 3420 & 3440 will confirm the same. However, higher levels will continue to invite profit booking. Use the Pivot table..3412 to initiate longs for the day..And of course the "ORB"...(Many stocks might attempt to close at the higher end of the weekly range and Nifty too...and US mkts also likely to end higher tonight..)
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Bears have given a "Dark Cloud Cover"..Now it is up to the bulls to show their strength to defend 3335 & 3305, failing which a deeper correction to 3225/3150 possible. Incidentally last week's close is 3342. Will there be a weekly bar reversal..???
Nifty has closed below 5DMA, and a first day bar reversal...staying below one more day will confirm more corrections to follow indicating a larger correction to the entire upmove from 2539 to 3510.
Don't stay long at higher levels till the TA corrections get over.
"ORB" has been quite helpful on most days for day trading and today was no exception to it..It is worth remembering this strategy on critical days..
Wednesday, April 15, 2009
Nifty breaks past 200DMA & closes above it..
Another negative cue from world markets was swiftly utilised by the bulls and Nifty scaled a land mark hurdle at 200 DMA and closed above it.
There is a breakout in the log chart too in a convincing way.
3305 will become a reversal area as of now and 3400-3425 area as a possible buying support area incase of some profit booking.
Some amazing moves in individual scrips were noticed again today..
There is a breakout in the log chart too in a convincing way.
3305 will become a reversal area as of now and 3400-3425 area as a possible buying support area incase of some profit booking.
Some amazing moves in individual scrips were noticed again today..
Monday, April 13, 2009
Nifty continues its corrections in "Intra day" only...!!
If these corrections happen above 5 DMA(3307) and just below 200 DMA(3431), Nifty may set itself for a jump above the 200DMA and move to higher levels. For the very short term - break of 3360 may lead to 3325 below which 3295 .
As long as the daily trend is up, the "OB" & -ve div. of hourly gets corrected in intra only. Individual stocks and the "last fallen stocks(Banks)" continue to attract buying...
If "Infy" results & guidances are impressive, "IT pack" may lift the Nifty up..
If "Infy" disappoints, Nifty may use it to set right the "OB"prices with the laggards hogging the limelight..
As long as the daily trend is up, the "OB" & -ve div. of hourly gets corrected in intra only. Individual stocks and the "last fallen stocks(Banks)" continue to attract buying...
If "Infy" results & guidances are impressive, "IT pack" may lift the Nifty up..
If "Infy" disappoints, Nifty may use it to set right the "OB"prices with the laggards hogging the limelight..
Sunday, April 12, 2009
Accepting that we deserve our gifts
By Paulo Coelho
During a lecture in Australia, a young woman comes up, “I want to tell you something,” she says.
“I always believed I had a gift for curing people, but I never had the courage to use it on anyone. One day, my husband’s left leg was giving him great pain; there was no one about to help, and - mortally ashamed - I decided to place my hands on his leg and ask for the pain to go away.
“I acted not believing that I’d be able to help him. Suddenly, I heard him pray: “Lord, allow my wife to be the messenger of Your light, your Power,” he said. My hand began to heat up, and soon the pain had gone.
“Then I asked why he had prayed like that. He replied that he didn’t remember having said anything. Today I am able to cure, because he believed it was possible.”
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Everyone of us has divine gifts. Some feel it because they are calm and conscious. Some don't because they are agitated and in an illusory plane.
Look around you...All the splendours of man's creations are some one's belief and a strong sense of commitment without which nothing is ever achieved.
Firstly believe strongly that you deserve your gifts and then go on to create the happy world around you.
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During a lecture in Australia, a young woman comes up, “I want to tell you something,” she says.
“I always believed I had a gift for curing people, but I never had the courage to use it on anyone. One day, my husband’s left leg was giving him great pain; there was no one about to help, and - mortally ashamed - I decided to place my hands on his leg and ask for the pain to go away.
“I acted not believing that I’d be able to help him. Suddenly, I heard him pray: “Lord, allow my wife to be the messenger of Your light, your Power,” he said. My hand began to heat up, and soon the pain had gone.
“Then I asked why he had prayed like that. He replied that he didn’t remember having said anything. Today I am able to cure, because he believed it was possible.”
**************************************************************************
**************************************************************************
Everyone of us has divine gifts. Some feel it because they are calm and conscious. Some don't because they are agitated and in an illusory plane.
Look around you...All the splendours of man's creations are some one's belief and a strong sense of commitment without which nothing is ever achieved.
Firstly believe strongly that you deserve your gifts and then go on to create the happy world around you.
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