One evening in 1963, Julio and his friends set out in a car for a night of fun. It turned out to be a night of horror, as the car they were travelling in met with a terrible accident.
Saturday, September 24, 2011
Everytime a door shuts, push open another...
AT age 10, Julio was a little Spanish boy with a dream. He wanted to play football for his favourite club – Real Madrid! He played all day, practised hard and became a very good goalkeeper.
By the time he was 20, the childhood dream was beginning to come true. He was signed up to play for Real Madrid. And most football pundits were predicting that young Julio would soon become Spain’s No.1 goalkeeper.
One evening in 1963, Julio and his friends set out in a car for a night of fun. It turned out to be a night of horror, as the car they were travelling in met with a terrible accident.
One evening in 1963, Julio and his friends set out in a car for a night of fun. It turned out to be a night of horror, as the car they were travelling in met with a terrible accident.
Friday, September 23, 2011
Nifty closes below all Emas/ pivots.
The weakness in Hour TA, few days ago, started the slide and it has been backed by FII Selling; World markets falling(sentiments); Rupee weakening, making Indian equities unattractive.(One of our reader has highlighted this point two days ago)
Prices have confirmed a reversal in Week & Day. In the meantime, Hour TA has reached the bottom and it could generate once again a bounce/ rally after an initial weakness. If 4795(For BN 9200) is protected and the prices stay sideways for a day or two, it could continue a corrective rise.
Prices have confirmed a reversal in Week & Day. In the meantime, Hour TA has reached the bottom and it could generate once again a bounce/ rally after an initial weakness. If 4795(For BN 9200) is protected and the prices stay sideways for a day or two, it could continue a corrective rise.
As of now, it is down and you trade that way. But keep the alternative option in mind.
If world markets does another big fall, these thoughts will have no relevance as it will be a simple 5th wave down.If not...?
If world markets does another big fall, these thoughts will have no relevance as it will be a simple 5th wave down.If not...?
Nifty PreMarket View
Below 4890(61.8% retrace for the rise from 4720-5169), the vth wave down starts to get more prominence and below 4810(80.0% retrace for the rise from 4720-5169), it gets validated.Until then, keep your options open while trading the down direction.
Hour TA is oversold and hence some intraday bounce may be expected after initial weaknesses which may be used to resell with the help of fibonacci calculations.
A weekly close below 4911, last week's low, will bring in the weekly downward momentum.
How do I exit may trade: It depends on which "study" you are following..? If classic TA based on Macd/ stochastics and which T/F of it..? If EW..? If just Price pattern with the help of trendlines..? If market Profile numbers..? If you are following any one of these, you'll have the answer yourself. Put forth your observations based on these above studies and I'll put forth my views on these too.
Hour TA is oversold and hence some intraday bounce may be expected after initial weaknesses which may be used to resell with the help of fibonacci calculations.
A weekly close below 4911, last week's low, will bring in the weekly downward momentum.
How do I exit may trade: It depends on which "study" you are following..? If classic TA based on Macd/ stochastics and which T/F of it..? If EW..? If just Price pattern with the help of trendlines..? If market Profile numbers..? If you are following any one of these, you'll have the answer yourself. Put forth your observations based on these above studies and I'll put forth my views on these too.
Thursday, September 22, 2011
Nifty PreMarket View
Overbought Hour TA as well as Daily TA started off with a sell yesterday and likely to continue today at the open with world mkts cues being negative.
Trading below Month pivot-5091(5094-DEMa), the first weakness which will get aggravated below Week's Pivot-5046(5045-DLEma/5051-JNSAR).
In the past, when TA is in uptrend, negative world cues have given intraday rally. This time too, it is possible if 5045 is protected and subsequently if Nifty starts to trade above 5091.
Wednesday, September 21, 2011
Nifty PreMarket View
Daily pivot-5108 may be used to spot weakness.
Turning up of WHEma(From 5160 to 5165+) may be used to spot growing strength.
Weakness, if any, may be expected in the latter half OR when prices find the congested 5170-5195, resistance.
Turning up of WHEma(From 5160 to 5165+) may be used to spot growing strength.
Weakness, if any, may be expected in the latter half OR when prices find the congested 5170-5195, resistance.
Tuesday, September 20, 2011
Nifty PreMarket View
If you find yourself difficult in trading a simple method like "Stop & Reverse" without another's affirmations/ approvals, the problem lies in your belief system. You may need to sit down and do a "back testing for 2 to 3 years of daily data" to know whether such a system works. Take our word for it; we have done it. Some may like to do it for themselves to feel confident about it. We have also suggested a light trading when Nifty consolidates/ corrects/ trades between DHEma and DLEma.
There are occasions Nifty has fallen big after piercing JNSAR and there are also occasions Nifty has breached it by 0.50 to 2 points and has reversed. It could be debated which is the correct way but there isn't any single one but a combination of them. We apply filter for two days after JNSAR has triggered. My mistake was to "remove that trigger on the 2nd day(19th) from 5000 to 5020".For the trader who managed to avoid that whipsaw, the JNSAR for today is 5022 without the filter. However, he can choose to apply the filter on the 3rd day too as per his wish.
There are occasions Nifty has fallen big after piercing JNSAR and there are also occasions Nifty has breached it by 0.50 to 2 points and has reversed. It could be debated which is the correct way but there isn't any single one but a combination of them. We apply filter for two days after JNSAR has triggered. My mistake was to "remove that trigger on the 2nd day(19th) from 5000 to 5020".For the trader who managed to avoid that whipsaw, the JNSAR for today is 5022 without the filter. However, he can choose to apply the filter on the 3rd day too as per his wish.
Monday, September 19, 2011
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