Thursday, July 31, 2014

Nifty, holding below 7760, breaking 7743, on the back of OB Day TA, gave away all its gains...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday update-I

Nifty Pre-Market View.

FII's have started to sell, after 9 days of buying- a resumption of consolidation within the major uptrend. 
Prices, in the short term, have closed above the two key ST averages. (As long as prices close above these, technicals remain strong; only a close/sustaining below it would reverse the ST trend
The ST direction is "biased UP", as long as prices stay above 7760 & close above these two key averages (21 or 34 hr smas). 
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
Aggressively Holding above 7760(21 Hr Sma), Conservatively Holding above 7743(2 Hr-Low & 61.8% of last rise), uptrend continues....
Aggressively Holding below 7760, correction could resume....
(VIX range for the day is 7735-7835.)

Wednesday, July 30, 2014

Nifty, holding the support @ DLEma, rebounded sharply on the back of OS Hour TA..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's have been buying again for the last 9 days, after 3 days of minor selling- a resumption of the major uptrend. 
Prices, in the short term, have closed below the two key ST averages. (As long as prices close below these, technicals remain weak; only a close/sustaining above it would reverse the ST trend
The ST direction is "biased Down", as long as prices stay below 7791 & close above these two key averages (21 or 34 hr smas). 
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
Aggressively Holding below 7771-85(61.8% - 80% of last rise), Conservatively Holding below 7796(DHEma), downtrend continues....
Aggressively Holding above 7761, uptrend could resume....

Tuesday, July 29, 2014

In search of Holy Grail.... "Eid Mubarak".

There was once a woman who had heard of the Fruit of Heaven. She coveted it. She asked a certain dervish,Sabar:
‘How can I find this fruit, so that I may attain to immediate knowledge?’
‘You would best be advised to study with me’, said the dervish.

Monday, July 28, 2014

Nifty, having closed below DHEma, confirms ST weakness with a close below 5DEma..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's have been buying again for the last 7 days, after 3 days of minor selling- a resumption of the major uptrend. 
Prices, in the short term, have closed above the two key ST averages. (As long as prices close above these, technicals remain strong; only a close/sustaining below it would reverse the ST trend
The ST direction is "biased UP", as long as prices stay above 7763 & close above these two key averages (21 or 34 hr smas). 
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
Aggressively Holding above 7763-68(2 Hr Low/ 61.8% of last rise), Conservatively Holding above 7734(likely JNSAR), uptrend continues....
Aggressively Holding below 7829, correction could resume....
(EW wise, holding 61.8% retrace held at 7768, vth wave could unfold...)

Saturday, July 26, 2014

With self-confidence & Perseverance, you can never, never give up...!

I had an opportunity to interact with the readers of a famous Magazine. It was a two-day program. At the end of the program, a young man asked me:
'Swamiji! I am a postgraduate. It is more than ten years since I completed my studies. So far, I have not received even a single interview card from the employment exchange. So, I am working as a cashier in a restaurant.
This job has no connection whatsoever with my educational qualifications. Last month, there was a shortage of cash at the counter. I do not know how it happened. The shame of being accused loomed large in my mind.

Friday, July 25, 2014

Nifty, on completing a 5 from 7772 to 7841, retraced it totally...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Sir, 
I need a clarification on retrace method to enter a trade . 
1. Are we to go long or short @ 50 % of the difference and add TO OUR POSITION at 61.8 % of the difference with 80 % of the difference as stop loss ? 
Is it applicable for both rise and fall.
Suggestions:
Consider the strength/ weakness of the trend by its prior retrace and consider "cluster presence" as well as "Key numbers" to coincide with the retrace % to choose the "%".
You could choose to trade "Only with the Golden ratio" & ignore other trades.
Knowing EW helps in identifying the sub-waves of a corrective & its likely end..
Yes..It is applicable to both rise & fall. However, during an uptrend, choose only the "long trades by monitoring the last rise retrace" till a reversal happens and choose only the "short trades by monitoring the last fall retrace" till a reversal happens.
This week has shown some easy "long trades" with prices trending up within a rising trendline with HH & HL..
------------------------------------------------------------------
FII's have been buying again for the last 6 days, after 3 days of minor selling- a resumption of the major uptrend. 
Prices, in the short term, have closed above the two key ST averages. (As long as prices close above these, technicals remain strong; only a close/sustaining below it would reverse the ST trend
The ST direction is "biased UP" (Remaining OverBought in Hour T/f for long suggests of bullish undercurrents), as long as prices stay above 7785 & close above these two key averages (21 or 34 hr smas). 
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
Aggressively Holding above 7796-7804(50%-61.8% of last rise), Conservatively Holding above 7772(DHEma/ last pivot low), uptrend continues....
Aggressively Holding below 7789, correction could resume....
(EW wise, another 61.8% retrace held at 7772, sub-waves continue to unfold...)

Thursday, July 24, 2014

Nifty, holding the golden retrace at 7772, gains in "unchartered territory"...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's have been buying again for the last 5 days, after 3 days of minor selling- a resumption of the major uptrend. 
Prices, in the short term, have closed above the two key ST averages. (As long as prices close above these, technicals remain strong; only a close/sustaining below it would reverse the ST trend
The ST direction is "biased UP" (Remaining OverBought in Hour T/f for long suggests of bullish undercurrents), as long as prices stay above 7753 & close above these two key averages (21 or 34 hr smas). 
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
Aggressively Holding above 7772-78(50%-61.8% of last rise), Conservatively Holding above 7719(DEma/ Dev.34Hr Sma), uptrend continues....
Aggressively Holding below 7827(HL4), Conservatively Holding below 7842(R2), correction could resume....
(EW wise, initial retrace of either 38% or 50% gave way to 61.8% retrace, early signs of selling pressure emerging - sub-waves leave little room to speculate; look for the channel support to decide decisively, also 34 Hr Sma...)

Wednesday, July 23, 2014

Nifty gaps up, does a 61.8% retrace & recovers to close at an all-time-high...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's have been buying again for the last 5 days, after 3 days of minor selling- a resumption of the major uptrend. 
Prices, in the short term, have closed above the two key ST averages. (As long as prices close above these, technicals remain strong; only a close/sustaining below it would reverse the ST trend
The ST direction is "biased UP"(Remaining OverBought in Hour T/f for long suggests of bullish undercurrents), as long as prices stay above 7718 & close above these two key averages (21 or 34 hr smas). 
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
Aggressively Holding above 7721(2-Hr Low), Conservatively Holding above 7680(DEma), uptrend continues....
Aggressively Holding below 7718(3 Hour Low), Conservatively Holding below 7674(last pivot low), correction could resume....
(EW wise, 7459 to 7722 , a 5 done and another 5 unfolded from 7674 to 7756 and yet another 5 is unfolding from 7718, always holding around a retrace of either 38% or 50%)

Tuesday, July 22, 2014

Nifty, holding 7674, trends up with "abc" corrections...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's have been buying again for the last 4 days, after 3 days of minor selling- a resumption of the major uptrend. 
Prices, in the short term, have closed above the two key ST averages. (As long as prices close above these, technicals remain strong; only a close/sustaining below it would reverse the ST trend
The ST direction is "biased UP"(But OverBought in Hour T/f & in Day T/f), as long as prices stay above 7622-7637 & close above these two key averages (21 or 34 hr smas). 
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
Aggressively Holding above 7675(2-Hr Low), Conservatively Holding above 7637(DEma), rally continues....
Aggressively Holding below 7714(minor 80%), Conservatively Holding below 7732(80%), correction could continue....
(EW wise, 7459 to 7722 may be considered as a 5 and thus another 5 is possible from either from 7675 or from 7644-59)

Monday, July 21, 2014

Nifty gaps up, loses all the gain unable to close above yesterday's high...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's have been buying again for the last 3 days, after 3 days of minor selling- a resumption of the major uptrend. 
Prices, in the short term, have closed above the two key ST averages. (As long as prices close above these, technicals remain strong; only a close/sustaining below it would reverse the ST trend
The ST direction is "biased UP"(But OverBought in Hour T/f & almost in Day T/f), as long as prices stay above 7613-7616 & close above these two key averages (21 or 34 hr smas). 
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
Aggressively Holding above 7652(2-Hr Low), Conservatively Holding above 7613(DEma), rally continues....
Aggressively Holding below 7707(73.6%), Conservatively Holding below 7732(80%), correction could resume....
(Staying above/ below the rising 34 hr sma, the bull/bear trend would continue/ resume...)

Saturday, July 19, 2014

Deliberate practice & 10 Years of Silence will set you "apart"...!!

Out of a list of 500 pieces that were played frequently by symphonies around the world and were considered to be the “masterworks” in the field, virtually every single “masterwork” was written after year ten of the composer’s career. Not a single person produced incredible work without putting in a decade of practice first. Even a genius like Mozart had to work for at least ten years before he produced something that became popular.

This period, which was filled with hard work and little recognition, as the “ten years of silence.” Similar patterns were found among famous painters like Picasso and popular poets. Further research revealed that you needed to put in “10,000 hours” to become an expert in your field. (This idea was later popularized by Malcolm Gladwell.)

Friday, July 18, 2014

Nifty, despite weak global cues, took support at 7596-20dsma, the ST average....

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's have started to buy again, after 3 days of minor selling- a consolidation within the major uptrend. Prices, in the short term, have closed above the two key ST averages. (As long as prices close above these, technicals remain strong; only a close/sustaining below it would reverse the ST trend
The ST direction is "biased UP"(But OverBought in Hour T/f but not in Day T/f), as long as prices stay above 7594-7609 & close above these two key averages (21 or 34 hr smas). 
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
Aggressively Holding above 7625(3-Hr Low), Conservatively Holding above 7572-88(Wk.Pivot/ DEma), rally continues....
Aggressively Holding below 7661(61.8%), Conservatively Holding below 7697(Wk.R1), correction could resume....
(Not making the (v)th would make the rise from 7422 as a 3 wave "abc" structure resulting in weakness)