Also to be found in the funeral procession -- the entire hospital staff, with whom Ishwar-kaka spent his final 12 days. Although they encounter patient deaths everyday, something about this man propelled them to pay their respects.
Saturday, February 18, 2012
shubhecchha....shubhecchha...Best Wishes..
Well over ten thousand people attended Ishwar-kaka's funeral at the Gandhi Ashram. Government officials had to shut down the street to manage the flow of traffic. As everyone silently stood in line to pay the final respects, the magic of Ishwar-kaka was evident -- the richest men in the country stood next to human-waste scavengers next to powerful politicians next to reknowned Gandhians next to vegetable sellers next to his next-door neighbors next to kids who had merely read about him. For a vast cross section of society, Ishwar Patel was a hero.
Also to be found in the funeral procession -- the entire hospital staff, with whom Ishwar-kaka spent his final 12 days. Although they encounter patient deaths everyday, something about this man propelled them to pay their respects.
Also to be found in the funeral procession -- the entire hospital staff, with whom Ishwar-kaka spent his final 12 days. Although they encounter patient deaths everyday, something about this man propelled them to pay their respects.
Friday, February 17, 2012
Nifty PreMarket View
Day Pivot & ORB Low would be crucial today going into a long week end. OI data during the day would be keenly watched for any weakness. If no weakness emerges, it is likely that this "5"th wave may be subdividing for higher targets, though such a scenario is not considered presently.
Thursday, February 16, 2012
Nifty...where is it headed... Follow it with a map in hand.
Dinesh Rishi asks:
Sir, as we are talking about w-3
this wave three is of which main count.
Rahul Singhal asks:
Hi ilango Sir,
I read your post market review today, which says that following completion of wave 3 we should have a wave 4. Can you please explain which pattern is Nifty likely following, i have counted this upmove as wave x of the double ziz-zag for bearish scenario which is taking a expanded flat pattern (3-3-5) and upmove from 4531 had been in a 3-3-5 format ending with the end of this current 3rd wave upmove.
Request you to please help me understand your count.
Sir, as we are talking about w-3
this wave three is of which main count.
Rahul Singhal asks:
Hi ilango Sir,
I read your post market review today, which says that following completion of wave 3 we should have a wave 4. Can you please explain which pattern is Nifty likely following, i have counted this upmove as wave x of the double ziz-zag for bearish scenario which is taking a expanded flat pattern (3-3-5) and upmove from 4531 had been in a 3-3-5 format ending with the end of this current 3rd wave upmove.
Request you to please help me understand your count.
BEAR: In red, positioned closer to the end of "a" and after a consolidation of "b" would reach the "green bracked-(b)" to be followed by "(c) towards 4000.
BULL: In green, positioned closer to the end of "3" and after a consolidation of "4" would reach the "green bracked-(1)" to be followed by an "abc" of"(2) towards 5200 and if held would resume its major uptrend from then on for months.. 
Nifty, thogh makes a reversal pattern, ends firm.
Bearish Harami
The bearish harami is made up of two candlesticks. The first has a large body and the second a small body that is totally encompassed by the first. There are four possible combinations: Blue/Blue, Blue/Red, Red/Blue and Red/Red. Whether a bullish reversal or bearish reversal pattern, all harami look the same. Their bullish or bearish nature depends on the preceding trend. Harami are considered potential bearish reversals after an advance and potential bullish reversals after a decline. No matter what the color of the first candlestick, the smaller the body of the second candlestick is, the more likely the reversal. If the small candlestick is a doji, the chances of a reversal increase.
I'll update the 5-min chart posted in Pre-Market for a likely follow up. It shows 2 possibilities.
The bearish harami is made up of two candlesticks. The first has a large body and the second a small body that is totally encompassed by the first. There are four possible combinations: Blue/Blue, Blue/Red, Red/Blue and Red/Red. Whether a bullish reversal or bearish reversal pattern, all harami look the same. Their bullish or bearish nature depends on the preceding trend. Harami are considered potential bearish reversals after an advance and potential bullish reversals after a decline. No matter what the color of the first candlestick, the smaller the body of the second candlestick is, the more likely the reversal. If the small candlestick is a doji, the chances of a reversal increase.
I'll update the 5-min chart posted in Pre-Market for a likely follow up. It shows 2 possibilities.
Nifty PreMarket View
Happy Birthday to dear "Nimesh" (Powertrade).
The below chart is self-explanatory.Below 5477 & 5460, short term reversal confirmation is possible.
5477 to 5497 is an ideal zone for the "v"th of the 5th of the 3rd to start to complete.
The"ii"nd of this rise took almost a day and it was a flat. Hence, expect this "iv"th to be a zogzag or a triangle.
Attempting to label such a ST T/F has its own challenges/ errors but I have put forth my instinctive obs.
Wednesday, February 15, 2012
Nifty PreMarket View
Nifty broke the resistance line-5415 & managed to make a marginal high. Above 5430, upsides continues.
Below 5407-Day pivot, weakness.
More weakness below 21 & 34 Hr smas(rising every hour).
Significant to note is the way market chose to correct from channel top to channel bottom. And there are some very high volume trades after 3.00PM, one being a crore in TataMotors besides 5400PE adding 15% OI as per EOD data.
Tuesday, February 14, 2012
Nifty PreMarket View
Sell on rises have produced decent intraday gains & Nifty bounced off the rising lows. Range has contracted and may contract further if not broken decisively today.
Double doji in day has prepared for a decisive day today. "5390-5410" is a sell zone with a SL 5415 or a break below 5385 & breakdown of contracting triangle rises to 5355.
Above 5415-30, further upsides though the OB Day TA will make them unsustainable for more than 1 or 2 days.
Even the remaining JNSAR will be traded today.
Monday, February 13, 2012
Nifty in a state of equilibrium with a double doji..
Double Doji
The double doji formation is neither a bullish or bearish formation, but represents a condition in which the open and close for the first session are the same, followed by a second session in which the open and close are again the same.
The Doji hints us that the market is in a state of balance of powers: the buyers strength has run out but so is the sellers'. So this is a state of temporary calmness before a major move. This pattern is usually found when both sellers and buyers are exercising the same pressure.
Double doji refers to the equilibrium state in which buyers and sellers are. Thus, typically it can be interpreted as a sure signal that a trend reversal will occur.
Mark the boundaries of theses "double doji" for a confirmed breakout or breakdown.
The double doji formation is neither a bullish or bearish formation, but represents a condition in which the open and close for the first session are the same, followed by a second session in which the open and close are again the same.
The Doji hints us that the market is in a state of balance of powers: the buyers strength has run out but so is the sellers'. So this is a state of temporary calmness before a major move. This pattern is usually found when both sellers and buyers are exercising the same pressure.
Double doji refers to the equilibrium state in which buyers and sellers are. Thus, typically it can be interpreted as a sure signal that a trend reversal will occur.
Mark the boundaries of theses "double doji" for a confirmed breakout or breakdown.
Nifty PreMarket View
Above 5410-25 is the resistance zone from where Nifty finds the upward momentum faltering in the last 4 days.
Day Pivot-5383 & ORB low may be used for intraday trades.
Day Pivot-5383 & ORB low may be used for intraday trades.
Below Wk.Pivot:5377, S1 @ 5327 & S2 @ 5273 are likely this week.
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