Saturday, January 14, 2012
Finding the soul of a free man
The hungrier one becomes, the clearer one's mind works — also the more sensitive one becomes to the odors of food. Tarkad, the son of Azure, certainly thought so. For two whole days he had tasted no food except two small figs purloined from over the wall of a Babylonian garden. Not another could he grab before the angry woman rushed forth and chased him down the street. Her shrill cries were still ringing in his ears as he walked through the market place. They helped him to retrain his restless fingers from snatching the tempting fruits from the baskets of the market women.
Never before had he realized how much food was brought to the markets of Babylon and how good it smelled. Leaving the market, he walked across to the inn and paced back and forth in front of the eating house. Perhaps here he might meet someone he knew; someone from whom he could borrow a copper that would gain him a smile from the unfriendly keeper of the inn and, with it, a liberal helping. Without the copper he knew all too well how unwelcome he would be.
Friday, January 13, 2012
Nifty ends the week just short of a weekly momentum giving signal..
Based on previous day's TA, we could understand the gap up/ resistances at 4860-70 and a cooling off and a subsequent rise towards 4900.
It is the target reaching much earlier than EOD that led to a sharp intraday fall.
This price action leaves it open to a two way possibilities based on global cues.
Under normal conditions, the correction that started from 4900 should continue for 2-3 days and resume uptrend if holds 4750.
It is the target reaching much earlier than EOD that led to a sharp intraday fall.
This price action leaves it open to a two way possibilities based on global cues.
Under normal conditions, the correction that started from 4900 should continue for 2-3 days and resume uptrend if holds 4750.
Nifty PreMarket View
oNifty closed below DHEma yesterday suggesting "Sell on rises". Now we need to know what is that "Rises". It could be 10-20 points above the DHEma that develops today or it could be a new high before a ST reversal sets in. Markets are suggesting a loss of momentum when they close below HEma. However, market can regain its momentum & continue to make highs for many days to come.
Once such a signal comes, you look for other weakening signals..first from Day & Hour.
Day TA, though in OB zone like Rsi & stochastics, haven't turned down & triggered and Hour TA, which was OB 10 hours ago(Rsi & stochastics), has corrected itself and poised for a reversal upwards.
Week/ Day trend being up, use such reversal points to make your long trades with 4790-95(34Hr sma)& Hour channel support as your SL.
Immediate target if Nifty breaches "4865-70" decisively would be 4910. Markets could "cool off" to around 4820-25 after an initial rush up.
Do not get fixated with any studies that you lose track of prices and patterns. Prices with their patterns are primary factors and all other studies are "guidelines". Only three rules that is unbreakable are listed under EW.
Once such a signal comes, you look for other weakening signals..first from Day & Hour.
Day TA, though in OB zone like Rsi & stochastics, haven't turned down & triggered and Hour TA, which was OB 10 hours ago(Rsi & stochastics), has corrected itself and poised for a reversal upwards.
Week/ Day trend being up, use such reversal points to make your long trades with 4790-95(34Hr sma)& Hour channel support as your SL.
Immediate target if Nifty breaches "4865-70" decisively would be 4910. Markets could "cool off" to around 4820-25 after an initial rush up.
Do not get fixated with any studies that you lose track of prices and patterns. Prices with their patterns are primary factors and all other studies are "guidelines". Only three rules that is unbreakable are listed under EW.
Thursday, January 12, 2012
Nifty PreMarket View
Supports are rising fast towards 4795-4810 while resistances remain unconquered @ 4885-4910.
Having come closer to 50sma, bulls need to start closing above it failing which they'll seek the supports OR ....
Having come closer to 50sma, bulls need to start closing above it failing which they'll seek the supports OR ....
Wednesday, January 11, 2012
Nifty, uptrending & overbought, resisted at 50sma.
1. JustNifty TA(12th Jan)
Our only concern is the price gains vis-a-vis the oscillator movements (See 9-Day rsi chart) do not instil confidence. Since we follow prices vis-a-vis their closing above certain key emas, this ST uptrend, stretched in Hour T/F, intact but faces hurdles @ 50sma-4875(today) & 100sma-4935.
Nifty PreMarket View
"4857" was a = c and the same was done yesterday.
"4880"-R1; "4883"- 61.8%; "4889"-50Sma.
And if Nifty surpasses these, "4910-40" is a strong cluster resistance.
Break-outs are often accompanied by pull back. How much it pulls back & the quality of it (with volume/ breadth) would lead us further on.
First support for the day is "4825"-Day pivot followed by, if necessary, the rising 21 Hr sma(4795).
Tuesday, January 10, 2012
Nifty, resuming its uptrend after the Hour corrections, breaks the ST Channel
Hello Sir,
I spent this weekend reading the entire blog. Right from 2008 each and every link. It was so amazing. I did not know the basic ABC of the market in 2008.
To all those who r new to this blog, I would suggest going through it. I felt like I am reading a novel.The feeling is what we call nostalgic.
If I can feel it. I now know how you might be feeling when you read these comments. It is a cricketer or actor watching his previous innings or movies.
I understand how long some associations have been like Sujata mam, DR sir, Piyush Sharda, GD and many who are not active anymore. How you came up with the idea of Energy exchange. All this is an amazing read. Your weekend posts are simply encouraging.
But then Sir the charts back then were so simple. The TT table evolved slowly to what it is now.Then to my surprise JNSAR was not the first thing that came up on this blog. It was pure TA.
Thank you for all the support and knowledge you have given. I am a late comer but now I feel 'Better late than never'.
P.S : I very much liked the photo of DR sir in early days.
Thanks
Yash & Dhan.
I spent this weekend reading the entire blog. Right from 2008 each and every link. It was so amazing. I did not know the basic ABC of the market in 2008.
To all those who r new to this blog, I would suggest going through it. I felt like I am reading a novel.The feeling is what we call nostalgic.
If I can feel it. I now know how you might be feeling when you read these comments. It is a cricketer or actor watching his previous innings or movies.
I understand how long some associations have been like Sujata mam, DR sir, Piyush Sharda, GD and many who are not active anymore. How you came up with the idea of Energy exchange. All this is an amazing read. Your weekend posts are simply encouraging.
But then Sir the charts back then were so simple. The TT table evolved slowly to what it is now.Then to my surprise JNSAR was not the first thing that came up on this blog. It was pure TA.
Thank you for all the support and knowledge you have given. I am a late comer but now I feel 'Better late than never'.
P.S : I very much liked the photo of DR sir in early days.
Thanks
Yash & Dhan.
Nifty PreMarket View
Prices have whipsawed at both ends of the triangle and staying within the boundaries and the spread has decreased. (Opening hour channel res. @ 4773; channel supp.@4720) The "Just turned up week" could attempt to assert itself while Day TA continues to be up and the OB Hr TA has corrected enough. "4717" should be the SL for Longs.(Intraday management to be confirmed by EOD Close).
Monday, January 9, 2012
Nifty PreMarket View
If resisted below 4780 and trades below 4755, weakness could drag it below 4705 towards 4675 or even 4635.
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