Meeting God...in a Smile.

Dear Rajagopal.... You bring so much smile & laughter around here...am sure everywhere you go too.

This one is for you....

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There once was a little boy who wanted to meet God. He knew it was a long trip to where God lived, so he packed his suitcase with Twinkies and a six-pack of juice and he started his journey.

When he had gone about three blocks, he met an old woman. She was sitting in the park just staring at some pigeons. The boy sat down next to her and opened his suitcase.

He was about to take a drink from the juice pack when he noticed that the old lady looked hungry, so he offered her a Twinkie. She gratefully accepted it and smiled at him. Her smile was so pretty that the boy wanted to see it again, so he offered her a juice. Once again she smiled at him. The boy was delighted ! They sat there all afternoon eating and smiling, but they never said a word.

Dear Rajagopal...Our Prayers are with you.

Rajagopal has lost a very close relative last Sunday and did not wish to disturb the normal business activities of friends and chose to remain discreet.

Losing is always painful. Losing a life that lived with you, breathed with you, spent special moments with you is more painful and such irreplaceable loss can only be felt by the grieving person.

All we can do is to pray for "strength and peace" for the grieving family.

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Nifty Intraday Update-II

Nifty Intraday Update-I

"5465" has given the first resistance.

Nifty PreMarket View.

A most likely 5430 to 5470 may play out for most part of the day before any decisive direction may materialise.
Bull: Pull back after a breakout is normal.
Bear: Negative divergences in almost all time frames.
A close below 5443 is the first sign of weekly weakness. That is the only important number besides a close below/ above 5439 for day signal.

Nifty exhibhits exhaustion in the short term.

Negative divergences taking its toll. Inspite of a firm break above the trading range, market lacked follow up rally for most part of the day.
Twice it has attempted and closed below Day High ema and now to look out for tomorrow's close as well as whether it would trade firmly above 5460.

Nifty Intraday Update-II

Remember this: Comfortable trades are those when Tech.Table is in Upmode or Downmode. All the rest are scalping kind to be treated with strict SL.

Nifty Intraday Update-I

Nifty Premarket View.

Below is the monthly chart.
One look at it, you may see the pattern resembling the move up from Friday low & the subsequent sideways move for 2+ days and the sharp upmove of yesterday. This scenario may play out in the monthly scale, provided 5350 is held.
For the day, some profit booking may happen. Breach of 5452/5445 would be an early sign of weakness.
Remaining two days of this week would offer some clues of things to come in the rest of this series.

Nifty makes new high after 3 weeks of consolidation.

What is this "abc" or 'abcde"..?
When a correction sets in, each segment of the market move is identified with some labelling and R.N.Elliott reached out to kindergarten stuff to make it simple.
For eg: When Nifty made a high of 5359.20 on Monday from the low of 5354(31.07.10), one segment got over namely 'a' wave and the following 2+ days, it moved in a sideways band of 5459.20 to 5426.85 with 5 small moves namely 'a,b,c,d,e" - which is called "b" wave and once the 'b" ended today @ 5428.40, "c" wave started sharply, a characteristic of most "c' wave.
Following the market unfolding in the smaller time frame in context to the higher time frame, you could accept these choppy moves within a structure & not get unduly worked up with the smaller moves and identify small to medium "trade set ups".
The most important work is to "place all the market moves in an acceptable structure in the larger time frame" and then move down to the smaller time frame to play them comfortably.
Waves are comprised of "fractals within fractals", meaning similar sets of waves form one big wave and so on. Combining these with the classical Technical Analysis (Macd & Stochastics) helps to contain the excessive emotions.
If it sounds difficult, stay with simple TA and you'll still do well.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

EW Rules:- (Golf dude needs to revisit the basic lessons)
Keep these three "Hard rules" (Unbreakable) always in mind while assessing/ counting/ labeling the price moves to help you arrive at a correct count which can result in a unbelievable forecast & stupendous trades.

- An impulsive wave always subdivides into five waves (1-2-3-4-5).
- Wave 1 usually subdivides into an impulse or seldom into a leading diagonal.
- Wave 2 subidivides into a zigzag, flat or combination.
- Wave 2 never moves beyond the start of wave 1 (Rule-1).
- Wave 3 always moves beyond the end of wave 1 and is never the shortest (Rule-2).
- Wave 5 subidivides into an impulse or an ending diagonal.
- Wave 4 subidivides into a zigzag, flat, triangle or combination.
- Wave 4 never moves into the territory of wave 1 (Rule-3).
1/3rd sell on rises come into effect. Another 1/3rd on a close below 5419.

Nifty lacks follow up momentum.

Assortz has observed the "Fast rise & Fast fall" set ups using 5 & 26 day ema of Nifty futures and have indicated 4 promising trades. The same can be duplicated to individual stocks too. You may also experiment with different period setting for individual stocks to arrive at proper entry points.
20sma breached once last week is positioned around 5395 & rising everyday.
2nd day of the short term reversal and Nifty closes below High ema as well as the Pivot of tomorrow. 5410-5415 is a minor support, the earlier resistance below which is the most important 5385.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View.

I have given below Daily stochastics(5.D) and Hourly stochastics(35.D) combination which gives a very good lead indications, especially in a sideways market.
Weekly stochastics (5.D)has turned down last week and now 4 days to go for the week. The follow up actionfor the week's signal isimportant. However, the current daily trend has turned up
This hourly stayed below 20 mark the whole Friday though it has reached the "OS" level the previous day. Another instance of market's delayed action to throw you off guard. Now watch this after moving higher & breaking below 80 mark for signs of weakness. If macd is in buy mode when this gives a sell, wait for confirmations to act. But if macd is in OB, then you may act as per the lead indication. The 5 wave count from 5478 to 5349 helped to take a reverse position.

Nifty's correction may have ended with a move above 5415.

Nifty moves out of the corrective channel at the open, pulled back to 5405 and moved higher. Is it a corrective rally or resumption of upmove. In either case, a short term bottom is in and the direction has turned up.
If it can sustain above all the "high emas", then the momentum may take it higher.
Tech.Table has turned all green. Follow up is equally important.

Nifty Intraday Update-II

Trading firmly above 5415.