Father, in giving her The Gift, receives much more.

"What do you want for your birthday?" the father asked his daughter.
"Do you want a doll?" She wrinkled her nose and scrunched her eyes and thought.
"No."

"A tea set?" "A pony?"
"No, Father, I have a year to think. I want this year to be a special year, to remember."
"All right. You think and let me know."
Ellen thought. She thought of bonbons, chocolate, new dresses, hats, kid boots, books, gloves, lace collars, but none of these were what she wanted. What would be special?
Each day her father asked her, "Ellen, do you know what you want for your birthday yet?" And Ellen would shake her head, "No, Father, I’m still thinking." After four days her father said, "Ellen?" "Yes, Father, I’ve decided."

Nifty pauses for yet another week.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

NIfty returned to the 5174-85 resistances for the second time yesterday. The last one produced a fall to 5042 from 5190 (148 pts). A lesser fall would make it "consolidate" to gather strength to push through it during the "settlement week".
Bullish Green: "a or i" could be a leading diagonal fm 5042 to 5141 and "b or ii" done at 5094 yesterday and "c.1" done from 5094 to 5170.
Accordingly the correction in "c.2" should limit itself to 5122/5100. Anything beyond it, would "reject" this scenario.
Bearish red: Larger "B" from 5190 could continue in its complex way. In such a case, stuck in the range of 4995 to 5175/90. "B.a" from 5190 to 5042; "B.b" from 5042 to 5170. "B.c" may be in progress towards 5010-25 or 4985-4995. Beyond this, this too gets rejected.
Very Bearish: Only below 5010 or 4995 may be considered. 5-waves done from 4770 to 5190 with an "ending diagonal in its 5th wave".
The next "1st" wave down done from 5190 to 5042;
2nd wave done from 5042 to 5170;
3rd wave may have commenced from 5170.
Having options such as these and the retracement points for each, would prepare you to initiate trades at critical junctures with very "low risk-high reward" such as the one made yesterday.
Even for the most bearish scenario, there would be a bounce off a negative opening.

NIfty returns to the 5174-85 resistances for the second time.

Nifty Intraday Update-II & III

Nifty Intraday Update-I

Nifty Pre-Market View.

Self-Reliance by Ralph Waldo Emerson:
To believe your own thought, to believe that what is true for you in your private heart is true for all men, —that is genius. Speak your latent conviction, and it shall be the universal sense; for the inmost in due time becomes the outmost,— and our first thought is rendered back to us by the trumpets of the Last Judgment. 

A man should learn to detect and watch that gleam of light which flashes across his mind from within, more than the lustre of the firmament of bards and sages. Yet he dismisses without notice his thought, because it is his. In every work of genius we recognize our own rejected thoughts: they come back to us with a certain alienated majesty.
Great works of art have no more affecting lesson for us than this. They teach us to abide by our spontaneous impression with good-humored inflexibility then most when the whole cry of voices is on the other side. Else, to-morrow a stranger will say with masterly good sense precisely what we have thought and felt all the time, and we shall be forced to take with shame our own opinion from another.
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The above thoughts of one of the greatest thinkers, Ralph Waldo Emerson, has strong message for the traders/ investors which is "You have it in you. Start believing in your own thoughts, ideas and act. Or else, someone will shame you by giving you the very same ideas of yours."

For Bulls, any corrections should limit itself to golden ratio of "5089" and the 80% @ 5062. For Bears, any rise should limit itself below golden ratio/ recent high of "5133-5141" and the 80% @ 5160.

I still find readers quite fond of expressing their opinions. They are yet to master the art of finding a range to make their trades OR simply follow the "method/ system" except for those "keen & focused readers". Watch your words...it reveals to you whether you're on "hope drips" or in "faith mode" or "simply lost".

If you are determined to make money in the markets,
If you develop the calm temperament to deal with the prices,
If you come prepared with a complete plan for both ups & downs,
If you have faith in your study and obedience to follow it,
The Riches will, sure, come to you, provided you embrace "Silence".

Nifty reacting mildly from resistances of 5124-44, home to golden ratio(5133) of the recent news-driven fall.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Suresh Nifty asked: How may quantity you recommend to trade to start with ?? 2 lots or multiple lots??, Is there any method to determine total capital required for 1 lot?
Ans: "To start with" depends on your depth of knowledge and understanding of the market. Assuming you have a good knowledge of technicals, a min. of 2 lots is fine to start with, preferably 3 lots for additional part booking. Do not start to trade if you are hesitant and you are still grappling to understand the markets.
I see some readers making statements like a "pro" but crumble with a small volatility. That is a deep crack in their temperament, understanding as well as their trading plan.
How much capital required for one lot is 50% more than the margin money for a lot. If you can not manage your trades with a 50% plus, you are not experienced enough to take trades.
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5124-44 are the previous two peaks from where nifty had fallen by 100 points each time.
How Nifty deals with this resistance and how much of a correction follows & whether hour trendline is kept intact would reveal the undercurrents.
5065-70 is home to many numbers/ support line/ retracement for the current minor rise from 5042.
EW: Larger "B" in play, form of which is not clear yet.;
Smaller "b" in play, if resisted @ 5124-44;
Or larger "C" in play holding 5042.
Such multiple scenarios call for more alertness or stepping back for more clarity.

Nifty bounces on the back of oversold Hour TA.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View

5099 is home to many numbers today.
It would play a decider.
Supports @ 34Sma/ema @ 4985/5034.
Ever since Nifty made 5060 highs, it has been on a "swinging mode":
4995 to 5124 followed by 5124 to 5016;
5016 to 5144 followed by 5144 to 5048;
5048 to 5190 followed by 5190 to 5042.(Here, the lows broken below 5048)
DLEma less 20 points come @ 5012. Bearishness returns below it.

Nifty sold off on "News" @ 5171-84 zone, would seek support at earlier resistances of 4976-5020.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Nilesh Patil asks: Kindly confirm the death cross of nifty. If you find it useful then post in JN group.

Ans: Death cross is one of the indicators that shows the underlying weakness. It could whipsaw too and the current uptrend may continue.
Since we follow 5DEma and/ or Day JNSAR to show us the trend, it will get us in a "bearish mode" if there is going to be one.
A death cross happening when prices are below 200 & 50 sma is more potent than the one happening when prices are above it. Presently prices are above it. Hence, the signal to sell would be when the prices close below 50sma (5072)& 200 sma (5067) whereas 5 ema is already above these two averages and JNSAR too will climb above these two averages in a day. Thus, sell signals would come to those who follow "trend indicators" in quicker time.