Saturday, August 6, 2011

Friendship blossoms like mushrooms with just enough moisture in hearts.

Happy Friendship Day Comments
My five years' old daughter Mini cannot live without chattering. I really believe that in all her life she has not wasted a minute in silence. Her mother is often vexed at this, and would stop her prattle, but I would not. To see Mini quiet is unnatural, and I cannot bear it long. And so my own talk with her is always lively. One morning, for instance, when I was in the midst of the seventeenth chapter of my new novel, my little Mini stole into the room, and putting her hand into mine, said: "Father! Ramdayal the door-keeper calls a crow a krow! He doesn't know anything, does he?" Before I could explain to her the differences of language in this world, she was embarked on the full tide of another subject. "What do you think, Father? Bhola says there is an elephant in the clouds, blowing water out of his trunk, and that is why it rains!" And then, darting off anew, while I sat still making ready some reply to this last saying, "Father! what relation is Mother to you?"

"My dear little sister in the law!" I murmured involuntarily to myself, but with a grave face contrived to answer: "Go and play with Bhola, Mini! I am busy!"

The window of my room overlooks the road. The child had seated herself at my feet near my table, and was playing softly, drumming on her knees. I was hard at work on my seventeenth chapter, where Pratap Singh, the hero, had just caught Kanchanlata, the heroine, in his arms, and was about to escape with her by the third story window of the castle, when all of a sudden Mini left her play, and ran to the window, crying, "A Cabuliwallah! a Cabuliwallah!" Sure enough in the street below was a Cabuliwallah, passing slowly along. He wore the loose soiled clothing of his people, with a tall turban; there was a bag on his back, and he carried boxes of grapes in his hand.

Friday, August 5, 2011

Nifty confirms the weekly downward momentum.

Respect the higher Time frame - Month & week's technical set ups.

Nifty Intraday Update-I


Nifty PreMarket View

Spend time recollecting "Trending down phases" and trade accordingly with tremendous patience.
A big "Thank you" to Ralph.N.Elliott for his wonderful discovery of Elliott waves without which we just can not foresee such a deep cut is in the making.
The classic TA too suggested a clear "Trending down" with negative zone entry and the trendline break in Nifty at 5435.
Our Tech.Table has turned "Totally RED" alerting us of the "Impending downward momentum".
JNSAR remains short.

Wednesday, August 3, 2011

Nifty breaks 5400 but closes above it.

Any pause in the downward momentum will happen only on a close above DLEma.This week's close also will be keenly watched for downward momentum.(Remember last week/ month close has been above WLEma & MLEma which could still keep the index in a trading mode). Bank Nifty has stopped just at the trendline support and has bounced. A follow up action is required to continue its bounce. Today's low, accordingly, becomes crucial.

Nifty Intraday Update-III

Nifty Intraday Update-II


Nifty Intraday Update-I

My critic is fond of saying: " Traders are willing to let go up to their underwear(at times even that) going against the trend BUT scared of letting go even a kerchief going with the trend".

Nifty PreMarket View



Tuesday, August 2, 2011

Nifty intra rises muted as the directional indication enters negative zone.



Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

"Happy Birthday to you, "Shradha Saburi"...
Wishing you Joy & Peace all year ahead & More.

Nifty PreMarket View

Month indication is down and poised to enter negative zone this month;
Week indication is down and poised to enter negative zone this week;
Day indication is down and has entered negative zone yesterday;
Hour indication is rising from oversold but in negative zone.
Hence, use rallies to exit longs and create shorts..using the fibo retracements.
Yesterday market gapped at R2., declined to pivot and rallied mild to R1 later.
For today, watch the first hour positioning.