Happy Birthday Dinesh Rishi....Make it a positive one

DR....Many many Happy returns of the day... Thank you for sharing more & more during troubled times. It takes courage to be doing in such a way amidst so much cynicism & lost hope.

You are bigger than you know and You shape the world we live in.

***********************************************************

I was in a very depressed state of mind because my mother lost her job and she had many bills to pay. It made me wondering what was going to happen to us now. But it reassured me some when my mother told me that she was relieved to be leaving since her boss wasn't the nicest person to be around.

I got off the college shuttle bus and started walking. That's when I heard piano music and singing rising above the noise of the people and the traffic. I walked a little slower so I could find out to where it was coming from. Through the crowd I saw a young lady sitting at a piano with a carriage next to her.

19 empty eggs that were full of LIFE..

Happy Hanuman Jayanti

http://www.youtube.com/watch?v=SqHiyRxyk

(Thank you, Gauresh for reminding me of this auspicious occasion)

******************************************************************************

Jeremy was born with a twisted body, slow mind, and chronic terminal illness that had been slowly killing him throughout his young life. Still, his parents had tried their best to give him as normal of a life as posible and sent him to St. Theresa's Elementary school.

At the age of 12, Jeremy was only in second grade, seemingly unable to learn. His teacher, Doris often became exasperated with him. He would often disturb the class by squirming in his seat. drooling, and making grunting noises.

Happy Mahavir Jayanti.

Nifty shows strength in its corrective phase & ends the week firm.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

Dear Manoj Agarwal,

Many many happy returns of the day. (Long time..no see..!!)

Overbought hour TA has triggered a sell.
5320-5324 has 23.6%, DHEma, 21Hr sma,50dma.
If breaks 5320, 5311-WEma & 5297-DEma & 5287-38%.

How much of price correction & how much of time correction would reveal strength/ weakness.

Having completed a 5, the logical correction (abc) target would be minor ivth of 3(5285) & 4th(5299).

Nifty, while being resisted at the major channel, closes again above 50sma

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

Dear Dr.Jignesh Shah,(Niftydoctor)

Happy Birthday to you.

"5365-70" is the channel resistance(Connecting 5630 & 5499) above which the earlier cluster resistance of 5382-92.
By moving sideways the whole of yesterday, Nifty has pulled up its averages which is what a sideways move does in uptrend. And if those supports break, some profits get locked because of those rise in averages.
Such sideways moves are called "consolidation" until they are broken down whence it'll be called "distribution". Go with the former till proved wrong once.Even the wrong could be mitigated observing any divergences.

Nifty closes above 50sma.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

A warm regards from Krishnamohan Chivukula. The notes are presented to you so that you can look at the way the analysis is being done. Thank you, Kris.(One of our oldest readers)

FnO Datasheet April Series - A primer

By Kris on Sun, 04/01/2012 - 11:23

1. March series expired rather listlessly. It did touch the lows of the month on the expiry day. However, recovered a few points in the last hour to close at 5178.
2. The first day of the series provided some massive bullish fireworks. Call it the bounce from 200DMA, or monthly trend asserting itself, or April series holding its low auction zone point at 5230 - the bounce did materialize.
3. It is surprising to note that, on a day when we have a 100 point bounce on NF on the first day of the series, there has been a reduction 4.6L contracts in the total OI - clearly first round of short covering. Is it weak shorts or smart shorts? At least a 10 million dollar question- if your stake is a million dollars. :)
4. The April series starts with a total OI of 2.09 crore which is generally an average number. However, I am quite intrigued by the FII OI number - which is 3.88L - one of the lowest I am watching, after I started observing this data closely. Are the FII concerned about the GAAR? I guess the key to successfully trading April series lies in solving this low FII OI riddle.
5. The first day of action in April series enhances the suspense around the low OI number further as they have reduced their further by 24K contracts after net selling another 19K contracts. Generally, OI reduction with price rise suggests long liquidation. Did they? :)
6. Let us look a bit more closely at how the April series OI has built up. Between 23rd and 29th March - in 5 trading days, the April series OI has increased by 1.4 crore contracts when NF was trading between 5230-5330. Now, are these longs or shorts? I dont know - but I am sure of one thing. They will not like the price to stay at 5230-5330. Expect price to repel from this zone quite violently.
7. Let us observe the FII OI built up as well for the April series. It is interesting to note that in the last 8-9 trading days, FII have net sold 1.4L contracts in Futures. I guess that is reason enough to believe that they have accumulated shorts. However, I would like to point to the action on 21st March. It is a rather listless day in terms of Action in April series OI - a mere 2L contracts are added to April series. However, FII have net sold 36K contracts that day - and on that day NF rallied from 5330 to 5450. So, is this the top end where they have accumulated shorts?
8. FII OI being very less makes them very nimble. That leads me to believe that, there will be some wild moves this month. Let us watch things as they unfold.
9. We have closed Friday at 5333 - the top end of the range where the entire rollovers happened. Any move further away should cause panic if it is shorts which are rolled over. So, the action in the next week should clear our doubts.
10. Where do we go from here? The FII OI SAR that we track is at a decent 5309. If you are long, use this as your trailing SL - below that, bears will get renewed energy.
11. You can find the entire data sheet here.