Friday, October 31, 2014

Thank you for this wonderful journey.......................... We'll meet again without distractions..


Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

The deceptive "B" wave transforms into a "v"th wave with sub-dividing waves...

FII's started buying in this month from 20th, kept it deceptively low for 4 days and resumed buying big again.
Prices moved past decisively above 8105-8120 and never returned.
Presently, all t/f technicals are in uptrend. Sustaining above 8140, the impulsive uptrend continues.
Prices making newer highs while Day in OB zone reveals the underlying bullishness; only EOD would confirm a reversal with a minimum close below DHEma.
Hour -ve divergences got negated while the prices held the lows....
Sustaining 8080 at open, channel support/ Day pivot, strength continued for a 100 point rally.
Below is the monthly chart wherein the clarity is more compared to the choppy(noisy) short term T/f charts. Whenever doubt arises, revisit the higher t/f charts & 9-Day Rsi chart(for ST).

Thursday, October 30, 2014

Rally continues in a channel, holding critical 2 day lows...& broke above the resisting supply line to make new highs...

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Uptrending prices enter "settlement day" with negative divergences, a perfect set-up for volatility..

ST weakness would manifest, if prices are contained below 8105-8120 and broke 2 hour lows.
Presently, all t/f technicals are in uptrend. Sustaining above 8115 would be an early indication  for newer high possibility.
Day has reached OB zone; only EOD would confirm a reversal with a minimum close below DHEma.
Hour has reversed after a brief correction & has uptrended reaching OB zone with -ve divergences...
Break below 8080, channel support/ Day pivot is a sign of weakness; Subsequently, if prices remain below resisting line at 8115-approx, weakness would persist, more below 8059.

Wednesday, October 29, 2014

Rally continues in a channel, holding critical 2 day & 2 Hour lows...& has reached the resisting supply line...

Nifty Intraday Update-II

Nifty Intraday Update-I

Having completed a brief hour corrections, the rally is poised to continue higher...

FII's have sold in the 2nd half of September and prices came off the highs from 8180 & closed near the lows.
FII's have continuously sold in this month, barring one day(& 3 days of small buying) and if that trend continues, prices would close below last month's close.
ST weakness would manifest, if prices are contained below 8090-8105 and broke 2 hour lows.
Presently, all t/f technicals are in uptrend.
Day has reached OB zone; only EOD would confirm a reversal with a minimum close below DHEma.
Hour has reversed after a brief correction & has resumed uptrend...Watch out for any -ve divergences developing after few hours of trading..

Tuesday, October 28, 2014

Prices in the Hour technicals reverse with the day holding its 2 Day low..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Overbought hour has commenced the corrections with a break below 2 - Hour low but held it above 2 - Day low..

FII's have sold in the 2nd half of September and prices came off the highs from 8180 & closed near the lows.
FII's have continuously sold in this month, barring one day(& 3 days of small buying) and if that trend continues, prices would close below last month's close (could even be the lows).
ST weakness would manifest, if prices are contained below 8060(8064 high) or 8090 and broke 2 hour lows @ 8015.
Presently, most t/f technicals are in uptrend except "Hour".
Day has reached OB zone; only EOD would confirm a reversal with a minimum close below DHEma.
Hour has reversed from OB zone and correcting...

Monday, October 27, 2014

Prices, opening at resistances, came off the highs owing to weak hour TA..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty has extended the rally to three days with OB Day & Hour technicals..

FII's have sold in the 2nd half of September and prices came off the highs from 8180 & closed near the lows.
FII's have continuously sold in this month, barring one day(& 2 days of small buying) and if that trend continues, prices would close below last month's close.
ST weakness would manifest, if prices are contained below 8060 or 8090 and break 2 hour lows.
Presently, all t/f technicals are in uptrend.
Day has reached OB zone; only EOD would confirm a reversal with a minimum close below DHEma.
Hour too has reached OB zone and ripe for a correction.

Thursday, October 23, 2014

In the world we live in something utterly unexpected always happens....you bet..!!

One day in 1996, a Wall Street trader named Nassim Nicholas Taleb went to see Victor Niederhoffer. Victor was one of the most successful money managers in the country. He lived and worked out of a thirteen-acre compound in Fairfield County, Connecticut, and when Nassim drove up that day from his home in Larchmont he had to give his name at the gate, and then make his way down a long, curving driveway.

Victor had a squash court and a tennis court and a swimming pool and a colossal, faux-alpine mansion in which virtually every square inch of space was covered with eighteenth- and nineteenth-century American folk art. In those days, he played tennis regularly with the billionaire financier George Soros. He had just written a best-selling book, “The Education of a Speculator,” dedicated to his father, Artie Niederhoffer, a police officer from Coney Island. He had a huge and eclectic library and a seemingly insatiable desire for knowledge.

Wednesday, October 22, 2014

Relief rally extends to "golden ratio" but could not close above WHEma...(Mahurat day..??)

Nifty Intraday Update-II

Nifty Intraday Update-I

And the rally continues post running correction towards the critical "golden ratio"..

Happy Diwali.. to each & every one.
May this festival of lights dispel the darkness of ignorance, if any left in you.
Mouth watering array of sweets. Lovely.
If you choose and eat them responsibly, it will last this weekend without you having to suffer a tummy ache.
We don't complain of this plenty..we relish them as long as we have strong constitution..
Why then this "kolaveri di" of the "Plenty of numbers..in TT, etc.,"
If you have "sugar"...or averse to "numbers", do not go near such "Shops"..or such "Blogs"..
Simple. Fair enough.
Now let me get back to my business of selling sweets...oh! sorry "numbers".

Tuesday, October 21, 2014

A running correction done after the big gap up & prices would move higher holding WEma..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Holding above "7832", WLEma, "pause in downtrend" continues as "relief rally"...

Nifty Broke out @ 7872 which coincided with JNSAR of the day.
As the chart below suggests, prices are most likely to reach the weekly channel bottom and it will happen in stages of falls & rebounds..; and that rebound is on..
ST strength continues above 7865-74, last two hour lows.
Hour chart's "Contracting triangle" with prices oscillating between these two ranges while technicals reaching highly oversold region with +ve divergences broke out above 7870 & has pulled back, poised to move higher.
Cluster resistances are in the region of "7912-28" and then at "7970".
Since the fall from 8180 to 7724 is a 3-wave fall, the retrace could be "any %"..
Know the direction...know the retracement & make the trades..

Monday, October 20, 2014

Prices broke out of falling wedge in "Hour", pulling back, would move towards Day channel top..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Prices, taking support " Falling wedge's support line", poised to break-out..

Minor bounce happened @ 100 dsma & from the "Falling Wedge" support & prices closed above "most LEmas" suggesting a pause in downtrend.
Break out point @ 7872 coincides with JNSAR of the day.
As the chart below suggests, prices are most likely to reach the weekly channel bottom and it will happen in stages of falls & rebounds..
ST strength continues above Day.pivot(7774) & Wk.pivot(7811).
Hour chart's "Contracting triangle" with prices oscillating between these two ranges while technicals reaching highly oversold region with +ve divergences poised for a break out above 7870.
Clster resistances are in the region of "7912-28" and then at "7970".
Since the fall from 8180 to 7724 is a 3-wave fall, the retrace could be "any %"..
Know the direction...know the retracement & make the trades..

Friday, October 17, 2014

Prices rebounded from 100dsma, only to find supply at 5 dema..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Prices display the superiority of larger t/f trend assertion...

Prices restricted below "Resistances @ 7893-7906" moved lower breaking  weekly mid channel support...
Week trend has asserted and the critical number for the day would be WLEma(presently 7822) and DLEma..
As the chart below suggests, prices are most likely to reach the weekly channel bottom..
ST strength remains weak below Day.pivot(7791) initially & returns above it & more above the critical ST average 5dema(7839).
Hour chart's "Contracting triangle" with prices oscillating between these two ranges while technicals getting weaker by each day, finally broke down..
Reliable supports are far away at 7645(MEma), 7540 & 7440, though minor bounce could happen @ 100 dsma.

Thursday, October 16, 2014

Prices opened into resistances at open, broke "7850" to reach 100dsma...Know the direction...know the retracement..

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Prices under pressure till below 50 & 20 Smas in the short term..

Prices restricted within the "DLEma less 30" @7825 & moved higher to DHEma & reversed down & have closed above DLEma;
if manages to move above 7906, 2 Hr High, short term prices would move towards the cluster resistances of 7928, week high & 7972, last week high..
Day trend has paused with a close above DLEma..
As the chart below suggests, prices are most likely to reach the weekly channel bottom..
ST strength remains weak below Wk.pivot(7883) initially & returns above it & more above the critical MT average 50dsma(7920).
Hour chart suggests of "Contracting triangle" with prices oscillating between these two ranges while technicals getting weaker by each day..
Critical supports are 7821 & 7785.