Saturday, August 27, 2011

Every time I'm in trouble, the stranger appears

It was one of those cold winter nights in San Francisco, the kind where the rain hurts, and your breath forms huge cotton balls that bounce on the pavement.
I was driving an eyesore that could only be referred to as a "car" by someone who was either a shameless liar or a good friend. Technically, the vehicle was totalled when I bought it from an unscrupulous neighbour, because it needed an engine overhaul that would have cost more than the car itself. I added a quart of oil before every journey. Most of it would leak out along the way. I tried to imagine I was driving a huge magical snail; that way I didn't mind the slow speeds and the slime trail it left.The car's outer paint had transformed into a hideous mixture of rust and "something brown." The engine sounded like a lawnmower with tuberculosis. If anyone ever wondered what the inside of an automobile seat looked like, my car had the answers. It was a difficult car to drive because you had to keep your fingers and toes crossed to keep the engine running.

Friday, August 26, 2011

Nifty breaks the major Medium term low of 4786.

Month & week technicals continue to overwhelm the short term bounces while Nifty is seeking lower levels.
JustNifty TA(29th)

Nifty Intraday Update-III




Nifty Intraday Update-II





Nifty Intraday Update-I



Nifty PreMarket View

I have given three charts of 3-diff. T/F to understand the short term behaviour within med.term & Long Term. Notice how 4796 to 4966 rally was completed with ST getting its oversold status adjusting but medium & Long term remaining down and since 4966 highs, the Short term once again down and merging with MT & LT.
We'll look for Short(Hour) & Medium term(Day) turning up together for reasonable gains.


Though a suggestion to buy near 4720-75 is mentioned, it needs to be carefully considered only if any bottoming patterns are visible or divergences appear as trend is down in all time frames.

Wednesday, August 24, 2011

Nifty PreMarket View

VIX based range is "4820(R2) - 4962(yesterday's high).
The chart shows a likely path to (5)th wave by holding below 4930-50 zone and then a break of 4875. BUT if that does not happen, change your trading plan and keep 20points SL on your trade. High "VIX" will have high volatility.
So far our market has used the +ve global markets to sell off. Today being the settlement day, it is the OI that would decide. ANd they are evenly poised at 5000CE & 4800PE.


Nifty turns down ahead of settlement day.

JustNifty TA(25th)



Nifty Intraday Update-III


Nifty Intraday Update-II



Nifty Intraday Update-I



Nifty PreMarket View




Tuesday, August 23, 2011

Nifty near Hour OB with three days of bounce within the downtrending channel.




Nifty Intraday Update-III



Nifty Intraday Update-II




Nifty Intraday Update-I

I'll be removing the "Moderation" now. Please do not disturb the tranquility here.
There are readers wanting to inter act with me and one another.
Don't spoil it all for others.