Tuesday, August 31, 2010
Nifty Intraday Update-I
It is choppy and not clear enough to label them, though I have attempted it.
Nifty PreMarket View.
Make up your mind about what you believe in. The system, the method, the plan.
Spend a lot of your time and energy on understanding the principles, logic & authenticity in them, backtesting for satisfactory results, trouble shooting situations and the strategies required to handle them with limited damage, make an elaborate planning on "How to go about it" and then strip it down to a simple tradeable/ investible plan.
Now shut your mind from other distractions, stop talking about it. Don't allow the "nay sayers" to doubt your method, puncture your dreams.. Simply follow your plan to the minute details. Trade / invest accordingly.
Now you are on your own two feet. You do not require any ones' crutches.Fly away.
I hear those doubters saying, "Its alright to talk about it. Do paper trade on them. But doing it in real market place is scary...unsettling...not possible". Then, Get out..this is not the place for you.
Even Mohammed Ali had a coach teaching him the routine training excercises, strategies to be adapted to different situations. Finally inside the ring, it is only Ali who has to fly like a butterfly and sting like a bee. And he did it. All because he believed in something... Believe in himself. Belief in his coach..belief in his strategies..
All you have to do is to have an armoury of trading/ investing techniques OR just one weapon. Use it well.
Kai irandu, Kaal irandu Kadavul kodutthan manidhanukku,
Idayam matrum onru vaitthan sindhanai oru valzhi selvadharkku
(God gave you two hands, two legs
But gave you one mind to stay focussed)
Now its your choice...Stay focussed or Stray and be lost.
The simplest things of "Doing the same thing again and again, we businessmen have prospered over centuries...why do you want entertainment from the most profitable place".. But most find this to be hardest. Change your perception.
Yesterday is gone..Yesterday is gone. You always make money Now.You repair your life now. You create the magic now. It can't get simpler than this.
Keeping below "5435" - week ema, bears will attempt 5373-Week low ema and close the month below 5416-month high ema. Bulls would want to defend the last lows 5372 & 5350 and attempt to take it above 5-ema-5446..
Spend a lot of your time and energy on understanding the principles, logic & authenticity in them, backtesting for satisfactory results, trouble shooting situations and the strategies required to handle them with limited damage, make an elaborate planning on "How to go about it" and then strip it down to a simple tradeable/ investible plan.
Now shut your mind from other distractions, stop talking about it. Don't allow the "nay sayers" to doubt your method, puncture your dreams.. Simply follow your plan to the minute details. Trade / invest accordingly.
Now you are on your own two feet. You do not require any ones' crutches.Fly away.
I hear those doubters saying, "Its alright to talk about it. Do paper trade on them. But doing it in real market place is scary...unsettling...not possible". Then, Get out..this is not the place for you.
Even Mohammed Ali had a coach teaching him the routine training excercises, strategies to be adapted to different situations. Finally inside the ring, it is only Ali who has to fly like a butterfly and sting like a bee. And he did it. All because he believed in something... Believe in himself. Belief in his coach..belief in his strategies..
All you have to do is to have an armoury of trading/ investing techniques OR just one weapon. Use it well.
Kai irandu, Kaal irandu Kadavul kodutthan manidhanukku,
Idayam matrum onru vaitthan sindhanai oru valzhi selvadharkku
(God gave you two hands, two legs
But gave you one mind to stay focussed)
Now its your choice...Stay focussed or Stray and be lost.
The simplest things of "Doing the same thing again and again, we businessmen have prospered over centuries...why do you want entertainment from the most profitable place".. But most find this to be hardest. Change your perception.
Yesterday is gone..Yesterday is gone. You always make money Now.You repair your life now. You create the magic now. It can't get simpler than this.
Keeping below "5435" - week ema, bears will attempt 5373-Week low ema and close the month below 5416-month high ema. Bulls would want to defend the last lows 5372 & 5350 and attempt to take it above 5-ema-5446..
Monday, August 30, 2010
Nifty ends at the month's opening & closer to the monthly lows.
Tech table identified the tussle point for tomorrow - 5416.(Monthly High ema)
Nifty Premarket View
A most likely trading may take place above 5462 due to world mkt + cues. Only a close above 5462 may warrant part longs. For a true reversal to take effect, it should close above High ema. Till then, this bounce/ rally may be short term in nature.
Having closed below week ema, a "fight back" by bulls would lead to a good trading week for both bulls and bears.
Having closed below week ema, a "fight back" by bulls would lead to a good trading week for both bulls and bears.
Sunday, August 29, 2010
Die when you are alive.... Die to the past/ future...
A traveler from India went to Africa to acquire some local products and animals, and while in the jungle he saw thousands of beautiful multicoloured talking parrots. He decided to capture a talking parrot and take it back as a pet.
At home he kept his parrot in a cage and fed him wonderful seeds and honey, played music for his pet, and generally treated him well. When it was time for the man to return to Africa two years later, he asked his parrot id there was any message he could deliver to the parrot’s friends back in the jungle. The parrot told his master to say that he was very happy in his cage and that he was enjoying each day and to convey his love.
At home he kept his parrot in a cage and fed him wonderful seeds and honey, played music for his pet, and generally treated him well. When it was time for the man to return to Africa two years later, he asked his parrot id there was any message he could deliver to the parrot’s friends back in the jungle. The parrot told his master to say that he was very happy in his cage and that he was enjoying each day and to convey his love.
Saturday, August 28, 2010
The Unseen hand that appears from Nowhere....
In September 1960, I woke up one morning with six hungry babies and just 75 cents in my pocket. Their father was gone. The boys ranged from three months to seven years; their sister was two.
Their Dad had never been much more than a presence they feared. Whenever they heard his tires crunch on the gravel driveway they would scramble to hide under their beds. He did manage to leave 15 dollars a week to buy groceries.
Now that he had decided to leave, there would be no more beatings, but no food either. If there was a welfare system in effect in southern Indiana at that time, I certainly knew nothing about it.
I scrubbed the kids until they looked brand new and then put on my best homemade dress. I loaded them into the rusty old 51 Chevy and drove off to find a job. The seven of us went to every factory, store and restaurant in our small town. No luck. The kids stayed, crammed into the car and tried to be quiet while I tried to convince whomever would listen that I was willing to learn or do anything. I had to have a job. Still no luck.
Their Dad had never been much more than a presence they feared. Whenever they heard his tires crunch on the gravel driveway they would scramble to hide under their beds. He did manage to leave 15 dollars a week to buy groceries.
Now that he had decided to leave, there would be no more beatings, but no food either. If there was a welfare system in effect in southern Indiana at that time, I certainly knew nothing about it.
I scrubbed the kids until they looked brand new and then put on my best homemade dress. I loaded them into the rusty old 51 Chevy and drove off to find a job. The seven of us went to every factory, store and restaurant in our small town. No luck. The kids stayed, crammed into the car and tried to be quiet while I tried to convince whomever would listen that I was willing to learn or do anything. I had to have a job. Still no luck.
Friday, August 27, 2010
Nifty Intraday Update-III
Taken a temporary support @ 5448(Week Ema).
Resistance @ 5458(21ema) & 5465(20sma).
A close above 5448 gives small hopes to bulls.
Closing below 5461(Low ema) keeps the bears spirits soaring.
Nifty PreMarket View.
Weekly trend remains up; Close below 5509 on Friday would suggest first sign of week's TA weakness and a close below 5448 on Friday would signal a sell. But downward momentum will be seen on a close below week Low ema.
Ideal resistances are at 5509-5511+; Supports @ 5458-5460
At the time of the first reversal signal in JNSAR, it was suggested by MOK & Yoda that one can use 0.2% to 0.3% filter to give a fair chance to the new reversal signal. In this case, the JNSAR reversal for the day comes @ 5498 and if you are inclined, then adding the filter it could either be 5509 or 5515.
Ideal resistances are at 5509-5511+; Supports @ 5458-5460
At the time of the first reversal signal in JNSAR, it was suggested by MOK & Yoda that one can use 0.2% to 0.3% filter to give a fair chance to the new reversal signal. In this case, the JNSAR reversal for the day comes @ 5498 and if you are inclined, then adding the filter it could either be 5509 or 5515.
Thursday, August 26, 2010
Nifty repeats another 32pt settlement..!!
Nifty repeats another 32pt settlement..!! - What does that mean..? Two whole months of FIIs purchases been hedged in the futures market. Only a delivery based selling in the cash market can create sustained selling. One day of selling will not do. Follow up selling is required.
AD charts are not at all encouraging so far.
As long as weekly charts are in uptrend, downmoves are to be treated as "corrections" only.
Anyone following delivery % could throw some light on it.
AD charts are not at all encouraging so far.
As long as weekly charts are in uptrend, downmoves are to be treated as "corrections" only.
Nifty Intraday Update-III
Only if it keeps below 5477-5483, can go lower to 5450-5440. If not, by moving past 5477-5483, may attempt 5495-5505.
Nifty PreMarket View.
As the channel top @ 5545-5550 gave a selling opportunity (Sell slides down faster than the buys in general), the channel bottom @ 5430-5445 too may offer some trading long opportunity. However the TA signals in the short term are all in sell mode and hence some confirmations should be looked for once any trades are initiated by way of a close above low ema initially.
Open Interest Analysis as posted by MOK @ OJN2 shows highest volume at 5500CE/PE suggesting a likely close @ 5500-5516 today. The range calculation based on VIX is @ 5408 to 5516.
Weekly trend remains up; Close below 5509 on Friday would suggest first sign of week's TA weakness and a close below 5448 on Friday would signal a sell. But downward momentum will be seen on a close below week Low ema.
At the time of the first reversal signal in JNSAR, it was suggested by Yoda that one can use 0.2% to 0.3% filter to give a fair chance to the new reversal signal. In this case, the JNSAR reversal for the day comes @ 5494.3 and if you are inclined, then adding the filter it could either be 5505 or 5511.
Weekly trend remains up; Close below 5509 on Friday would suggest first sign of week's TA weakness and a close below 5448 on Friday would signal a sell. But downward momentum will be seen on a close below week Low ema.
At the time of the first reversal signal in JNSAR, it was suggested by Yoda that one can use 0.2% to 0.3% filter to give a fair chance to the new reversal signal. In this case, the JNSAR reversal for the day comes @ 5494.3 and if you are inclined, then adding the filter it could either be 5505 or 5511.
Wednesday, August 25, 2010
Nifty breaks the "Many times redrawn channel"
Uniforms for a trader .? Why do they issue uniforms to Doctors, Policemen, Jawans, School children - to have a sense of purpose...to "Treat patients", to "Catch thieves", to "Fight for the country", to "Learn studiously"..and so on.
What do the traders should wear..He has an array of uniforms to "Choose" from. Yes, he has to choose it. Bear uniform, Bull Uniform, Sideways Uniform. If you can discriminate the kind of market you are in, wearing one such uniform will make you feel like a "Bull" or a "Bear" or a "sideways trader". It helps you to approach the market with a sense of purpose...namely to sell first and then to cover it with a bear uniform. OR to buy first and then to cover it with a bull uniform.
It readjusts your thought process and keeps you focussed on the developing prices.
I hear music all the time...and our dear "Balanandan of Vipani Sangeetham" too. Visit him sometimes..He has the most simple approach to the market with his music notes.
What do the traders should wear..He has an array of uniforms to "Choose" from. Yes, he has to choose it. Bear uniform, Bull Uniform, Sideways Uniform. If you can discriminate the kind of market you are in, wearing one such uniform will make you feel like a "Bull" or a "Bear" or a "sideways trader". It helps you to approach the market with a sense of purpose...namely to sell first and then to cover it with a bear uniform. OR to buy first and then to cover it with a bull uniform.
It readjusts your thought process and keeps you focussed on the developing prices.
I hear music all the time...and our dear "Balanandan of Vipani Sangeetham" too. Visit him sometimes..He has the most simple approach to the market with his music notes.
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