Saturday, January 15, 2011

Do it because it is the right thing to do.

A young, 18-year-old student was struggling to pay his fees while he was studying at Stanford University in 1892. He was an orphan, and not know­ing where to turn for money, he came up with a bright idea. A friend and he decided to host a musical concert on campus to raise money for their education.

They reached out to the great pianist Ignacy J. Paderewski - who was quite a superstar those days. His manager demanded a guaranteed fee of $2000 for the piano recital. A deal was struck. And the boys began to work to make the concert a success.
The big day arrived. Paderewski performed at Stanford. But unfortunately, they had not managed to sell enough tickets. The total col­lection was only $1600.

Disappointed, they went up to Paderewski and explained their plight. They gave him the entire $1600, plus a cheque for the balance $400. They promised to honour the cheque soonest possible.

Wednesday, January 12, 2011

Nifty establishes a critical short term bottom @ 5700.

The price action of the remaining two days will throw up the first clue/ confirmation to the future price action. Markets keep its options close to itself but the short term directions are often fathomable and the traders need just that.
Bank Nifty has closed above 5DEma and on the verge of triggering a JNSAR buy tomorrow..Will it?? It has been leading the action by not making a new low in yesterday's late fall and clearing weekly high today (For Nifty, it is 5907).
JustNifty TA(13)

Nifty Intraday Update-III



Nifty Intraday Update-II

Nifty Intraday Update-I


Nifty PreMarket View.

Tuesday, January 11, 2011

Nifty attempted to find a short term bottom...for how long..??

JustNifty TA(12)The hour T/F is quite oversold and has attempted an intraday bounce.The day T/F is at oversold and a reversal is possible if it manages to close above 5843(Today's high as well as DLEma). The week T/F is in downtrend and the prices are quite far away from crucial emas.

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View.

Till a reversal pattern is spotted, sell into all the rises. There could be bounces from oversold conditions: play them with caution. For eg: If trades above today's pivot or 5785 or ORB high, then trade and look for follow up confirmation to move above HEma. On the contrary, when such a bounce finds resistances, sell. If I find a short term chart showing +ve div, I will post them. All daily charts are in down trend. I could not update TA files due to ill health. Just Trade our market., our prices.