Saturday, November 21, 2009

Good Bye, Grandpa..

My grandparents came to visit last week and I was very happy.my grandpa has a skin condition in his leg which won't heal and when he came to see me he told me that all those years of medication began to work and he told me that it was a good experience going through such a big disease where the body began to kill it's own cells.We set cuddled together as he told me about his younger days when he used to watch British troupes move along the roads before independence.He always encourages me to do what I want in life and he told me about how he had very close fiends from when he was a boy till now,some of them gave him money and he repaid them too ,and then he said to me " Be a good friend and you will attract good friends" and I was touched.Then he told me that some his close friends died recently annd how close they were.Then he told me "I've reached the end of my life,But happily,i'm leaving here having happy children and lots of grandchildren",for this my emotions couldn't handle,and tears dropped down my eyes and I cuddled closer to my grandpa.He said,"Never be sorry,always be happy""Do your best,I want to see you do your best".I went out of the room and cried for a while,because I couldn't bear the fact that my dear grandpa was going to leave soon........It's the moments spent when a person is alive that counts...he is so loving and really loves us all and im moved by his care..though sometimes he may be a bit cranky and uptight,...He is my greatest hero,my grandpa!


He always taught all his grandchildren wisdom which he gathered through his life..he wants us to know something he learnt all his life so we get that experience at a young age.I will tell you what he tells us.
these are his teachings - Life is the journey between birth and death.there are three C's-Concentrate, clarify,contemplate where one must concentrate,then clear all doubts, and repeatedly relearn it.543-Think,plan,act is what you must do before doing any task.knowledge,skill,attitude is very important in a person's life.Wisdom is the way of using knowledge.Always do the right task at the right time at the right place.Always give concern for quality,quantity and productivity before buying anything,always think if anything you do is useful or not.
These are his teachings,I love him so much and value everything he said and i try to follow them.
Then I went to my grandma as she came along with grandpa to visit.she was sleeping and I held her hand and sat there....she looked at me and she smiles....and we have a little chat and then its time for them to go home...I kiss my grandma and say bye to them and they go home...and as usual,there are petals of flowers on the sofa to show us that grandmas was there...those flowers on her hair fall of on the sofa and after they're gone,i smile as i look at the petals.i love my grandparents!!!!!!!!!A grandparent is a babysitter who watches the kids instead of television!i love you!
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I have been wanting to put up this above post from my son's blog this week which he had posted after his grandfather's visit home last week.
He left us this morning and he is inconsolable. He wanted to show it to his grandpa but he was not in a state to read it. And now he has gone, he left even an unshakable quite moved. He touched our life quite deeply. Times like these reveal how much you care about your close ones and how much they have enriched our lives..Good Bye..
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Friday, November 20, 2009

Nifty's dramatic rebound from it's weekly Pivot.

Once again Market humbles a confident trader who was not prepared for a "Contingency plan"..A lesson well learnt without much damage. They don't say that lightly.."Market is a worthy opponent".
Another reminder for reversing a trade when a clear "5" is done, especially with a triangle for the "4th". (Triangle clear in th 5-minute chart.) Triangles in 4th is always an early warning/signal of the last move in that direction.
The current uptrend from 4539 which was reversed yesterday has got back into it's uptrend.
Weekly & Daily Pivots are now at 5022 & 5016 and that is the critical support for this upmove.


Inspite of the sharp rebound, Day high ema is not cleared on closing basis but weekly momentum is back.

Nifty Observations by "Hemanta"...

One of the mature traders here "Hemanta" has this to say:
Ideal trade according to TA was:

1. book ur short around weekly pivot@4935(also weekly ema5 was 4937, so that was much strong support) sl was daily pivot@5002 or 5010.
2. fresh short only below 4920(4925 5 day swing low as ilango said with sl 4938.
3. fresh long @4935 with sl 4920 (still continue with sl 5020,next wk pivot@5020 strongest support now)
3. now the market has changed the direction completely, above 5080 fresh longs for possible target @5105, next 5165. SL 5060.

Sharing such observations will enrich the visitors and make them "Better prepared" and not take market for granted..

Nifty Update

At 2.30PM: If Nifty closes above 5012, Exit shorts. (Positional). Besides the expected WEAK Weekly close may not happen. Let us exit & review at week end.
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At 1.20PM: Aggressive traders may book partial profits &
re-enter shorts at higher levels..(Optional)

Nifty PreMarket View



Thursday, November 19, 2009

Nifty caves in after persistent -ve div..

Nifty has closed decisively below 5 DMA and broke the channel too and thus turning the short term trend to Down. A correct rally, if any at this stage,may find multiple resistances at previous supports @ 5015 & 5045. Fall may find temporary supports @ 4900-4940 unless global cues are terrible.

Four days gone by, Nifty could not touch the Weekly R1 and reversing towards Week Pivot @ 4934. Bulls may fight for 5028(Week high ema) as well as 5048(Day High ema). It is tough..

Nifty PreMarket View

Though a SL of 5080 is mentioned, Market is lacking in momentum and in OB zone. SL can also be kept higher @ 5120 incase of a brief upmove.

Tuesday, November 17, 2009

Nifty finds the gap a reliable support

The sloping green trendline acted as a support earlier, breaking the same Nifty came down heavily. And now, after getting resisted at that line for three days, it has gapped up above that line yesterday and found a good support in today's intra selling..
Now this "line" should be a S&R for the bulls and Sell trigger for Bears..(It is 5015 for tomorrow and it rises by 5 points a day)
For the "Gap geeks", the gap has now been filled to carry on the uptrend.
Make or Break day...says my Critic..
Hour: Continues its uptrend with in the channel but with -ve div..
Breaking of the channel: signalling a 4th , followed by 5th..??
After a brief correction, TA seem to have turned up..SL for longs now @ 5010 and SL for Shorts should be the previous high of 5074.

Nifty Update

A daily close below the "Day High Ema"(5029) will puncture the daily "up Momentum".
At 1.25PM: Heading towards 5-day ema @ 4999.
"Will not be available for a while..".


Nifty PreMarket View

As Daily & Hourly time cycles are in "OB" levels and screaming for a correction, it is a good day to commence the selling though how deep the correction is going to be, I have no clue as of now.
We will go level be level...first to 4925...
Incidentally, the weekly Pivot is @ 4936.
Firstly, it needs to break 5052(Daily Pivot) & then 5043(Yesterday's intra low) and so on.
At higher levels, as repeated earlier 5080-5100/5120 are resistences.
Unless market reverses as outlined here, the trend remains same.


Monday, November 16, 2009

Nifty gaps up & gasps..with -ve div..




Nifty Update.

First weakness is visible. Now to a close below 5050 at 3.30PM.
No Daily weakness yet...

Nifty Update

A. Hour Time frame:An Hourly close below 5059 will put pressure on Nifty.
B. Daily close below 5008 will weaken further.
C. Until then, wait patiently...Bears.

Nifty PreMarket Update

After having resisted the "5000-5020" levels for 2-3 days, Nifty is all set to clear the same with strong global cues.
The fractals seem to be working and it is getting closer to the top.
Trading levels are given for the day.
As the short term is in "OB", profit booking is suggested for conservatives. Alternatively, the position may also be trailed @ 5000 to take in any large up move possibility.
Aggressive traders may contemplate a short whenever the "5th" wave ends..(above 5055, near 5080-5100)
Aggressive supports @ 5005-5025 & Conservative @ 4950-4970


Sunday, November 15, 2009

All eyes on US Dollar Index reversal..

A very good write up on this subject may be read @ "State of the Market" blog. And when that reversal takes place, equities across the globe will head lower. Until then, trade light.

What I see:
A. Two positive divergences to be confirmed by a price reversal by a close above 75.25
B. There is a potential double bottom.
C. There is a "Morning star" formation, to be confirmed by a white candle close above 75.65.
D. A channel break out possibility above 75.80.
E. If the reversal does not happen on Monday or latest by Tuesday, there is a threat of breaking the lows.