Monday, March 31, 2014

Nifty gains the vital monthly momentum signal with a close above MHEma...(So did many stocks)

Nifty Intraday Update-III


Nifty Intraday Update-II


Nifty Intraday Update-I


Happy Ugadi.

Major break out happened when prices broke through 6343-58, earlier supply zone.
EOM-Prices would be closing above MHEma.
The biggest gain in stock market comes from such "roofing through" which gets captured by "sitting through".
We stressed the "reading of lead indicator" -
I repeat:
Weekly momentum in play since it closed above WHEma on 28th February.
Imagine a monthly momentum...!!! 
In a 3rd wave and this one is coming after 4 years of consolidation, the retracements will be sharp & swift.
You have seen the hour stochastics staying above 80 mark;
You have seen the Day stochastics staying above 80 mark;
and now You'll see the week & month stochastics staying above 80 mark......
March 7, 2014 at 2:32 PM.
Treat "last rise" to have started from 6644.
When market compels me to label a 5th wave into a 3rd wave, I take a small break to get a better perspective.
The strong bullishness is visible when the giants such as RIL & SBI start to make big moves after making an elaborate basing. I have no opinions of this market; you do the same.

Saturday, March 29, 2014

Speak about the resolution of conflict..with Aikido, the art of reconciliation.

A turning point came in my life one day on a train in the suburbs of Tokyo, in the middle of a drowsy spring afternoon. The old car clanked and rattled over the rails. It was comparatively empty—a few housewives with their kids in tow, some old folks out shopping, a couple of off-duty bartenders studying the racing form. I gazed absently at the drab houses and dusty hedgerows.
At one station the doors opened, and suddenly the quiet afternoon was shattered by a man bellowing at the top of his lungs, yelling violent, obscene, incomprehensible curses. Just as the doors closed, the man still yelling, staggered into our car. He was big, drunk and dirty. He wore laborer’s clothing. His front was stiff with dried vomit. His eyes bugged out, a demonic, neon red. His hair was crusted with filth. Screaming, he swung at the first person he saw, a woman holding a baby. The blow glanced off her shoulder, sending her spinning into the laps of an elderly couple. It was a miracle that the baby was unharmed.

Friday, March 28, 2014

Nifty impulsing up in its 5th wave ahead of the (fin.)year & month end.

Nifty Intraday Update-III


Nifty Intraday Update-II


Nifty Intraday Update-I


Nifty Pre-Market View.

Trending & Sideways market trading was discussed recently and it was stated to "Trail your positions in a trending market" and " trade your positions using supports and resistances in a sideways market".
We kept a trail of 6580 at open and subsequently raised it to 6620-25 using the rising wedge pattern.
This pattern continues till below 6685-6700 approx.
To rollover your positions, it was suggested to use quantitative analysis. Accordingly, it was noticed that Nifty has corrected 43-46 points during the last rise from 6483. Nifty fell 46+ points from the high of 6674 to 6625.
Move past 6665 & 6685 at open would bring in an impulsive 5th to continue and the last rise may be taken from 6625-xxxx to manage trades.
Traders who have traded or being part of the period during Nifty's rise from 900 with FII's inflows would be able to identify the corrective pattern of FII's.

Thursday, March 27, 2014

Nifty ends the settlement at an "all time high", still holding within the channel with measured falls..

Nifty Intraday Update-III


Nifty Intraday Update-II


Nifty Intraday Update-I


Nifty Pre-Market View.

5th wave's form is unusual (roll over & settlement could be the reasons for this); but then market is not a perfect place as it consists of "imperfect us".
As long as the correction holds 50% of last rise from 6483 wherein placed 34 Hr sma(6555), more highs are possible. Being an imperfect place, it could do so even after breaking it. However, we need to flow with the momentum and give importance to strength in retrace. Besides, we will have "last fall" retrace to get back into a reversal.
Making a low below 6580 without clearing 6610 would make the fall from 6627 a "5 wave structure".
A 10 point below last two hour low of 6581 @ 6571 is the immediate support. Break below it would be "Two Day Low - 34 Hr sma @ 6545-55".
Immediate resistance at open is 6610 & 6633.

Wednesday, March 26, 2014

Nifty displays some divergences but moves higher..."holds" higher..

Nifty Intraday Update-III


Nifty Intraday Update-II


Nifty Intraday Update-I


Nifty Pre-Market View.

Prices are trending up, held the critical support of 50% of last rise at open(6483 to 6592), considering the nature of this 5th wave. Next segment of upmove should hold 6574 and the critical retrace from there on.
Break below 6574 would continue the correction and could lead to ST reversal.
After completing "iii"rd wave, the "iv" is likely to be prolonged and could take the shape of either a zigzag or a triangle to be followed by the "v"th of 5th in the coming days..

Tuesday, March 25, 2014

Nifty continues to move higher "holding" critical 50% retracement..

Nifty Intraday Update-III


Nifty Intraday Update-II


Nifty Intraday Update-I


Nifty Pre-Market View.

In a trending market, hold & trail your trading positions to maximise return on your capital.
In a sideways/ consolidating/ corrective market, use retrace strategy and support & resistances to initiate & close trading positions during intraday oscillating price behaviour.
1=5 gives a target of 6633. 5th could go higher if 50% of 6483-xxxx is held.(approx)
Targets are guidelines.
One could part book or trail aggressively using 21 Hr sma or trail conservatively using 34 Hr sma. These two averages would start to diverge today.

Monday, March 24, 2014

Nifty breaks past "6524" & days of consolidation into its 5th..

Nifty Intrday Update-III


Nifty Intraday Update-II


Nifty Intraday Update-I


Nifty Pre-Market View.

Prices have held 6470-77 zone, channel bottom/ Falling wedge bottom.
While doing so, the channel has been broken briefly as in a 4th wave.
Now, prices must confirm by moving past 6524 while holding "6483", the critical retrace for the rise from 6473 to 6522.
When prices break & stay below 6465, it would then be considered a 5-wave done at 6575 and not until then.
I have been sharing whatever I have learnt the hard way in the market place with everyone without any discrimination through my blog for the past 6 years.
I suggest you to go through the simple write ups listed under the label "Applied Technical analysis" and "For Beginners". You will find them under the "LABELS" section at the side bar of my blog.
It is quite easy to understand. For reference, you can download the "JustNifty TA" excel file from "JN GROUP". It is updated and uploaded everyday.
Later you can go through the 8 topics discussed under "Always start trading with these" at the side bar of my blog.
There are more in the labels section like Market wisdomTrading with discipline, etc.
Take time to go through them while watching the markets simultaneously. The time you invest today to understand the market before putting your hard earned money to work is the most sensible and wisest act.
In my initial phase in stock market, I wasted away the beginner's luck money earned from the market and gave away much more.
Please understand first and then trade or invest.
You could start right away by trading with our JNSAR, a Stop And Reverse method.
Be greedy when you are right and be fearful when you go against your own methods.
Learn before you start out to earn... 

Get rich slowly and quietly.

Saturday, March 22, 2014

‘Yeh din mein kabhi nahi bhulunga madamji.’

I saw the driver trying to catch a glimpse of me in the rear-view mirror.
It was around 7 in the morning. At the apartment in Hauz Khas where I had been staying in Delhi for the past few days, I was all set to head home to Bangalore, my suitcase packed.The cab I had booked - the capital’s trademark black and green taxi - would arrive any moment. I had asked for three cup chai to be made.
As soon as I got the missed call from the driver, I went down the stairs with two cups of tea. One of them, I handed to the security guard who had been on night duty, and the other to Nareshji, whose name I had asked the night before while booking. ‘Chai peejiye, phir chalengey airport,’ I told him.