Tuesday, July 10, 2012

Nifty breaks out of yet another consolidation.

Any kind of study, if applied appropriately & discretely, will produce excellent results.
We have in the recent past spotted a "Falling wedge" to identify a ST bottom along with TT's MLEma & EW.
We identified an "Ascending triangle" for a likely target of 5336 sometime ago.
We identified a "Rising wedge" two weeks ago and this morning, using SAN's chart, relabelled to identify the "Day's upmove targeting towards 5375 ."
Identifying a "Developing pattern" requires not just patience but "balance of views" derived from various studies which would give credence to such a formation.
Patterns do fail at times. Make your journey with them as long as they hold their promises.

EW continues to guide me like it did today...like it did on innumerable occasions.
How could one abandon it?
If you err in your EW study, don't blame the study. Find the truth...that how you missed reading it in the first place. And if you find reading it tough, why not shift to something that is comfortable to you.
I must recollect here and emphasize that "Trading is quite personal". Master your trade whether you use
"SAR", "EW", TA" & so on.
I have seen the "Overflowing doubts" on following the simple "SAR method" here..!!! So why blame anyone for EW?
Take the wheel and mind the road...for a safe journey.


J.R.Julius said...

//I must recollect here and emphasize that "Trading is quite personal".//

Really Superb.

Similar thought happened to me once before
even I read this.

J.R.Julius said...

May God Bless All.


Shradha Saburi said...

Dear Parimal GOOD Evening
today nifty has entered very crucial zone that is 5350 -5450 where 5400 is the centre line
you can see from the past chart of the day nifty has taken support of 5400 when nifty was in bull regime and you can also see the nifty has turned back many times it is in bear regime so at 5400 both will put all their might to turn the game from their side.
Now let us see the different trends
Monthly trend : month trend line ( Month JNSAR upper channel) is at 5400-5380, monthly BB mid band is there,also month kinjunsen is there so thick resistance band.Since it is monthly so nifty may cross it by the gap up celebrating the event.
month JNSAR trend turned up so it favours bulls
weekly trend :until nifty does not close below 5150 ,weekly uptrend is intact.if this week it does not close below it ,will confirm its firmness.
daily trend :JNSAR trend line is rising.
5300 -5270 has become strong support now by the consolidation.
Day macd has put two hooks and rised may show some exhaustness.
hour trend hour price closed above the kumo cloud but kumo cloud is thick ahead so price may have tendency to comeback towards the kumo cloud upper band that is 5310.
let us see market is supreme .hold the JNSAR tightly until it triggers in a decisive way.
this is just my view
many many regards!

Sujatha said...

Sir - That's excellent thanks onceagain "trading is quite personal" i heard this from you atleast 3-4 times. but often forgetting hope this time will not.i put this in my HW document.

Prakashabc - no..read my posts inbetween most of the times i "missed a lot" :( like today..backstep then front or else "frontstep" then "back" still implementation problem is there. so net profit is less :(

PS: somebody mentioned bght 5300 puts - watchout 343 not taken out possibility to break fast and watch out downside support 5270 breakes this time will not hold. 386/420/30 is upperside target. BNF lagging @ 786 is first weakness. will not be available 2morow for continuation post.

Nilesh Patil said...

@Shradha Saburi,
Nice analysis.

sandeep said...

master explain what that meant hl3 breakout , n julius sir 2day h3-was 5294 and h4 was 5309

Parimal said...

My Dear Shradha Saburi
Good Evening
thanks for a very thorough analysis. if one realizes how JNSAR works, one will not have much difficulty dealing with market. this alone is enough to award one with deep insight leading to great confidence. i don't think one can successfully trade without confidence. here lies the crux. integration of JNSAR with other methods is bound to add colour and charm.
yes, i am quite aware of the fact that 5400 is a critical resistance as you have rightly observed. barring a little exhaustion in the OB region, no sign of weakness is perceptible.
let us see what market holds for this week.
all the best and kind regards

sandeep said...

sujatha maam small request can u be more simple

Dinesh Rishi said...

Sandeep ji

Even my brother in law cant tell(request) my sister to be

"be more simple"


If you want something simple follow JNSAR

shriram said...

i wonder how suja mustve written exam paperss... har uttar ke baad ,, shhhhhhhhhsshhhhh !!!!!!!!!!! ;-)

shriram said...

recollecting wot i wrote on friday for mynac...

if we stay > dev 5MnHiEMA & the 5-10Mnth EMA stays in place by july'12 end, we r in for some fun times ahead ;-)

cooldent said...


sir has mentioned cam levels of nifty spot whereas julius has mentioned future values

sandeep said...

Sir Roger But as per camarilla which more correct

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