Let not garbage trucks take over your day..

How often do you let other people's nonsense change your mood? Do you let a bad driver, rude waiter, curt boss, or an insensitive employee ruin your day? Unless you're the Terminator, for an instant you're probably set back on your heels. However, the mark of a successful person is how quickly he/she can get back his/her focus on what's important.

Sixteen years ago I learned this lesson. I learned it in the back of a New York City taxi cab. Here's what happened. I hopped in a taxi, and we took off for Grand Central Station. We were driving in the right lane when, all of a sudden, a black car jumped out of a parking space right in front of us. My taxi driver slammed on his brakes, skidded, and missed the other car’s back end by just inches!

Nifty gets sold off from the major trendline resistance.

Chart showing ST bullish possibility, provided 5450-5490 holds.Chart showing MT bearish possibility, provided 5720-5750 is not surpassed on closing basis and closes below 20sma..
Closing below Day Pivot is the first sign of ST weakness, correction/ consolidation setting in.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

Nifty, having cleared 5605, has the next hurdle @ 5690-5720.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

Nifty could continue this upmove till 5700 as long as 5535 holds(50sma). Despite negative divergences appearing, no weakness has yet resulted in the prices.
The first Hour price action would indicate negation of such -ve div in the 9-rsi chart, though others might continue. Have patience and ride the trend.

Nifty entering settlement day with OB readings & ripe for volatility.

Due to Blogger problems, Charts are transferred from wordpress. Click on the charts to get more clarity.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

We have spotted the "Hammer pattern" yesterday; Now for a follow up on it today. It could gap up, move higher too but the close below the open as well as below yesterday's close would alone qualify as a reversal. Till then, "Hammer" represents some "Selling tendency" in a supply zone.
I have covered "9-Rsi" today and it has been found to be quite reliable.

Nifty, having entered the supply zone, managed to close above 50&100smas.

"Patterns" appear & alerts us. It has done so earlier on few occasions in the recent past as per the chart below. Only a follow up prices would confirm their validity. Remember also that they do fail occasionally."Lead indicator" has reached the "Overbought zone" but not yet given any "sell indications". It generally takes a minimum of two days to reverse if there is a reversal. Tomorrow's price action in the supply zone of 5570-5610 and subsequent close would help. Beyond tomorrow's close, we have settlement day as well as Month Close. Month ema is @ 5659.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Even a lagging trend indicator provides decent returns. At the current scenario, it could attempt a negative divergence in the coming days or keep sliding down.