Monday, June 30, 2014

Nifty makes a tentative break-out of a bullish Flag..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

“Everyone needs to work hard at somethin’ to feel good about themselves.
Every job can be done well and every day has its satisfactions. . . .
If you want to feel proud of yourself, you’ve got to do things you can be proud of.
“Some people make a lot of noise about what’s wrong with the world, and
they are usually blamin’ somebody else.
People, who don’t like the way things are, need to look at themselves first.
They need to get right with God and change their own ways. . . .
If everybody did that, we’d be all right.”
“I can’t do everything. But I can do something to help somebody.
And what I can do, I will do.”
FII's are alternating buying with selling in typical of consolidation with in the major uptrend.
Prices, in the short term, have closed below two key ST averages.
"Consolidating 2nd wave" continues, having broken below key retrace points at 7500-18;
The ST direction, though "biased down", is poised for a bounce if "7494-7504" is held & close above these two key averages (21 or 34 hr smas).
Aggressively Holding below 7543(Hour channel), Conservatively Holding below 7572, correction continues....
Aggressively Holding above 7494, Conservatively Holding above 7523, reversal attempt/ minor rally unfolds....
Prices have held the day channel at "7482" on Friday; Being the last day of the month & quarter, there could be attempt to take the prices higher, provided recent lows are held. The break-out of the consolidating channel gets confirmed only when the prices move past 7605(Day Channel).

Saturday, June 28, 2014

The little woman who inspired the cable TV Moghul to give away a Billion $....

Oseola McCarty spent a lifetime making other people look nice. Day after day, for most of her 87 years, she took in bundles of dirty clothes and made them clean and neat for parties she never attended, weddings to which she was never invited, graduations she never saw.
She had quit school in the sixth grade to go to work, never married, never had children and never learned to drive because there was never any place in particular she wanted to go. All she ever had was the work, which she saw as a blessing. Too many other black people in rural Mississippi did not have even that.
She spent almost nothing, living in her old family home, cutting the toes out of shoes if they did not fit right and binding her ragged Bible with Scotch tape to keep Corinthians from falling out. Over the decades, her pay -- mostly dollar bills and change -- grew to more than $150,000.

Friday, June 27, 2014

Nifty, sell on rises, moved to "day channel support" & paused with a close above "all DLEmas"..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Trading strategy that works wonders besides the supports & Resistance is "Retracement strategy":
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL".
Understand its workings.
A trade is not complete once an opportunity is spotted or it is initiated.
A trade needs managing, monitoring.
a. After the trade initiated at the key retrace point, you exit the trade once SL is triggered.
b. Once the prices start to reverse from your trading point generating profits, you monitor the "key retrace of that rise, if upmove OR the key retrace of that fall, if downmove" and trail your position.
This important part helps you "lock-in the profits as well as points to your new exit points in case of adverse reversals".
c. You part book your trade and hold the rest with the trailing number that keeps changing based on the price advances or declines.
Do these above and see how your trading results improve substantially during every month.
FII's are alternating buying with selling in typical of consolidation with in the major uptrend.
Prices, in the short term, have closed below two key ST averages.
"Consolidating 2nd wave" continues, having broken below key retrace points at 7500-18;
The ST direction is "biased down" till prices continue to close below DLEma & these two key averages (21 or 34 hr smas).
Aggressively Holding below 7535, Conservatively Holding below 7543, correction continues....

Thursday, June 26, 2014

Nifty, in sell on rise mode, unable to close above "Key averages", succumbed to "supply glut"..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

If you can't follow the market after choosing a particular method/ study with discipline, do not label it a myth as in sour grapes. The tendency of most has always been to find the "blame" outside when it actually resides in "self" just as "most people look for GOD outside when He resides in us".
Life is all about seeking knowledge and taking risks.
"There is the risk you cannot afford to take and there is the risk you cannot afford not to take"-Peter Drucker. 
"It is not because things are difficult that we do not dare. It is because we don't dare that things are difficult" - Roman Philosopher Seneca.
You live your life the way you choose to and reap its rewards and face its consequences. No one can force it on you unless you allow it. Take some time to reflect on it. All the things that happened in your life are because of your choices...choices that you made today or much earlier...
Why then this constant conflict, complaining, whining ? If you can not get on with it, "allow" other sincere, earnest ones to carry on with their journey by stepping aside "graciously".....
I repeat , Get Rich Slowly & Quietly.....
...................................................................................................
FII's have increased the buying with a large qty., typical of consolidation with in the major uptrend.
Prices, in the short term, have closed above two key ST averages.
"Consolidating 2nd wave" seems to be done at 7442, requiring "holding of key retrace points at 7500-18; The ST direction is "biased up" till prices continue to close above DEma & these two key averages (21 or 34 hr smas).
Aggressively Holding above 7537, Conservatively Holding above 7500(due to settlement concerns), rally continues....(There is some similarities in the "7433 to 7361" consolidation to the current one!!!
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL".

Wednesday, June 25, 2014

Nifty's continues to be in a consolidating mode..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

In a trending market, especially for traders who look for immediate gratification, then prices move in the direction of the trend in a substantial manner satisfying the "trendy guy".
In a sideways/ corrective/ consolidating market, the price behaviour is unpredictable as it unfolds in small bouts of ups and downs, frustrating the trendy guy who fails to accept that the trend has paused or attempting a reversal. The TT shows the way; but ego fights it.
FII's are alternating buying with selling in small qty., typical of consolidation.
Prices, in the short term, have closed above two key ST averages.
"Consolidating 2nd wave" seems to be done at 7442, requiring "holding of key retrace points at 7500-18; The ST direction is "biased up" till prices continue to close above DEma & these two key averages (21 or 34 hr smas).
Aggressively Holding above 7553, Conservatively Holding above 7525, rally continues....
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL". Adapt to it.
Note how prices are consolidating in a broader channel with many cluster points creating minor channels.

Tuesday, June 24, 2014

Nifty's relief rally extends gains, setting up a "potential" fast rise(5 & 20 DSma)..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's are selling for the last 3 days in small qty., typical of consolidation. 
Prices, in the short term, have closed below two key ST averages. 
"Consolidating 2nd wave" seems to be underway(or done almost at 7410-33) within a broad channel, as long as prices stay above the cluster zone of 7322-44; 
The ST direction is "Sideways" till prices continue to close between DHEma & DLEma and continue to close below these two key averages (21 or 34 hr smas). 
Aggressively Holding below 7536, Conservatively Holding below 7562, correction continues.... 
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL". Adapt to it. 
Note how prices are consolidating in a broader channel and broke the middle line, reaching the next support zone of 7410-33.(also the day channel support for the day @7412, also WEma)
Keeping below 7543-54, 34 Hrsma & Wk.pivot, prices could head towards 7410-33 zone to complete the correction.
Strength above last cluster res.@7562, also JNSAR & 2-Day High.

Monday, June 23, 2014

Nifty, starting below Wk.Pivot-7554, reached Wk.S1-7445(7442) and rallied in relief..

Nifty Intraday Update-III


Nifty Intraday Update-II


Nifty Intraday Update-I


Nifty Pre-Market View.

FII's are buying interspersed with a day or two of selling during this month, typical of consolidation. 
Prices, in the short term, have closed below two key ST averages. 
"Consolidating 2nd wave" seems to be underway within a broad channel, as long as prices stay above the cluster zone of 7322-44; 
The ST direction is "Sideways" till prices continue to close between DHEma & DLEma and continue to close below these two key averages (21 or 34 hr smas). 
Aggressively Holding below 7554, Conservatively Holding below 7580, correction continues.... 
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL". Adapt to it
Note how prices are consolidating in a broader channel and remaining in the "upper zone", having positive bias. Once they break this middle line, the bias would turn negative.(It broke down & closed below it yesterday) 
Momentum would return above this channel. 
Consolidation continuing for "investors" for the next big upmove as long as "7300" is protected. 
7548-7554, pivot, averags & 7577 are two key resistances now 
and 
7477-84 & 7445 are two key supports today.

Saturday, June 21, 2014

It is grace and poise that give us the opportunity to deploy our skills reliably...

War and combat is filled with stories of men (and women) snatching victory from the jaws of defeat. Impossible circumstances, unfavorable odds, somehow they still lead to almost miraculous triumphs. The trait that make this possible and how it can be applied to life, across disciplines is one philosophy—battle tested at the front—that shows us the way-Stoicism. Best articulated by the Roman Emperor Marcus Aurelius (who spent 17 years of a 19-year reign at war) with the simple line:
 “The impediment to action advances action. What stands in the way becomes the way.” 
A parade of military legends followed his example. They all figured out how to turn obstacles upside down—how to turn what was in the path, into the path.
During the American Civil War, Union troops were unloading a steamboat near Union headquarters outside Richmond when it suddenly exploded. Everyone hit the dirt as debris and shells and even bodies rained down—everyone but Ulysses S. Grant who, as the leader of the Union forces, was seen running toward the scene of the explosion.

Friday, June 20, 2014

Nifty's ST weakness, in both Day & Hour, has spread to "Week".


Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's are buying interspersed with a day of selling during this month, typical of consolidation.
Prices, in the short term, have closed below two key ST averages.
"Consolidating 2nd wave" seems to be underway within a broad channel, as long as prices stay above the cluster zone of 7322-44;
The ST direction is "Sideways" till prices continue to close between DHEma & DLEma and continue to close below these two key averages (21 or 34 hr smas).
Aggressively Holding below 7589, Conservatively Holding below 7610, correction continues....
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL". Adapt to it.
Note how prices are consolidating in a broader channel and remaining in the "upper zone", having positive bias. Once they break this middle line, the bias would turn negative.(It broke down yesterday)
Momentum would return above this channel.
Consolidation continuing for "investors" for the next big upmove as long as "7300" is protected.
 7579-7589, earlier supports & 7610 are two key resistances now and
7478-84 & 7433 are two key supports today.
I will not be available during the 1st session.

Thursday, June 19, 2014

Nifty, in sideways mode, rose to resistances, fell to supports to close in the sideways mode...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's are net buying consistently during this month except on two minor days.
But prices, in the short term, have closed Below two key ST averages.
"Impulsive 3rd wave" seems to be underway with continuation of correction, the current one being "(2)"nd sub-wave;
The ST direction is "Sideways" till prices continue to close between DHEma & DLEma.
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL". Adapt to it.
Note how prices are consolidating in a broader channel and remaining in the "upper zone", having positive bias. Once they break this middle line, the bias would turn negative.
Momentum would return above this channel.
Consolidation continuing for "investors" for the next big upmove as long as "7300" is protected.