Conquer fear with quantum work

If you hear a voice within you say ‘you cannot paint,’ then by all means paint, and that voice will be silenced. - Vincent Van Gogh.


A ceramics teacher announced on the first day of school that he was dividing his class into two groups. All those on the left side of the studio, he said, would be graded solely on the quantity of work they produced, all those on the right solely on its quality.

His procedure was simple: on the final day of class he would bring in his bathroom scales and weigh the work of the “quantity” group: fifty pounds of pots rated an “A,” forty pounds a “B,” and so on. Those being graded on “quality,” however, needed to produce only one pot – albeit a perfect one – to get an “A.”

Nifty loses MT downward momentum & ST upward momentum for a trading week ahead.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Happy Birthday, Bhaswanth Chava..

Today is Bhaswanth Chava"s Birthday(The JNSAR trader aiming for Jaya and not Vijaya)
Many, Many Happy returns of the day.
Our Best Wishes for your "Jaya"(Victory).
= = = = = = = = = = = = = = = = = = = = = = = = = = =
There is another channel at work...whose resistance would be around 4975-95 depending on the time of reach. How Nifty corrects at its oversold Hour TA & whether 21 & 34 Hr smas, turning up @ 4872, offers support would reveal the strength of this "morning star's reversal" which requires a "follow up action."
Debate will be about: whether a truncated (5) done at 4805 or it was part of (4) and the (4) gets concluded at today's high...

Nifty shows up a "morning star" amidst bad news.

Definition of 'Morning Star'

A bullish candlestick pattern that consists of three candles that have demonstrated the following characteristics:

1. The first bar is a large red candlestick located within a defined downtrend.
2. The second bar is a small-bodied candle (either red or white) that closes below the first red bar.
3. The last bar is a large white candle that opens above the middle candle and closes near the center of the first bar's body.

As shown by the chart, this pattern is used by traders as an early indication that the downtrend is about to reverse.





Read more: http://www.investopedia.com/terms/m/morningstar.asp#ixzz1vmee1sjU

Investopedia explains 'Morning Star'

A morning star pattern can be useful in determining trend changes, particularly when used in conjunction with other technical indicators. Many traders also use price oscillators such as the MACD and RSI to confirm the reversal.

Read more: http://www.investopedia.com/terms/m/morningstar.asp#ixzz1vmeyuZ00

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

"Buying is suggested" based on the observation that "v" of the (5)th of C/3 is about to be completed when Nifty falls below 4805 this morning. But a fall beyond 4780(approx) would make it a "iii"rd of (5)th. A faster retracement is also required or a close above LEmas.

Nifty, resuming downtrend, ends lower despite oversold hour TA.

Market is closer to two critical channel supports 4800-weekly & 4720-35-Monthly. Major falls would be likely below these levels. Nifty has made a top @ 4956-57 twice and the same would trigger a short covering/ buying. One could keep the retracements handy to enter early in case of a reversal. "Sell on rises" continues for this settlement.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

4890 & 4915 is a major resistance zone for the day. Moving below 4853(61.83%) aggressively suggested for downsides to be confirmed with a move below 4822 for the Month's major channel supports @ 4720-35 zone.

Nifty resisted at the downtrending channel @ 4955 & fell 100+

Niftyn Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday update-I

Happy Birthday to you, Nilesh Patil.

Dear Nilesh,
It is wonderful to see your smiling face at the start of the day.
May you live longer, stronger, wealthier &
bring about more smiles around.

Many, many happy returns of the day.
= = = = = = = = = = = = = = = = = = = = = = = = = = 

Nifty cleared the previous high @ 4922. Next in line is 4957 and before that the channel top. How it manages to remain bullish after reaching these resistances would show the true internals. Weekly pivot @ 4879 & a critical low point during the current rise @ 4861 are important supports presently. TT shows  "4937"-MLEma-"4946" WLEma as immediate resistances.

Nifty consolidating with an irregular flat after a 5-wave upmove to 4933.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Only a move past 4909-13 would be strength as well as holding of Day pivot-4863. Moving past 4913, there are resistances @ 4922 & 4955-76.
As stated few days ago, bounce is likely from channel bottom when Nifty move above previous hour's high and more strength above the middle channel. If maintains above the middle channel, it could attempt the major channel top.
Friday's low of 4789 is at the monthly channel bottom. Log scale LT channel supports come around "xxxx" (Would update later).