Thursday, June 30, 2011
Nifty PreMarket View
Nifty could continue this upmove till 5700 as long as 5535 holds(50sma). Despite negative divergences appearing, no weakness has yet resulted in the prices.
The first Hour price action would indicate negation of such -ve div in the 9-rsi chart, though others might continue. Have patience and ride the trend.
The first Hour price action would indicate negation of such -ve div in the 9-rsi chart, though others might continue. Have patience and ride the trend.
Wednesday, June 29, 2011
Nifty entering settlement day with OB readings & ripe for volatility.
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Nifty PreMarket View
We have spotted the "Hammer pattern" yesterday; Now for a follow up on it today. It could gap up, move higher too but the close below the open as well as below yesterday's close would alone qualify as a reversal. Till then, "Hammer" represents some "Selling tendency" in a supply zone.
I have covered "9-Rsi" today and it has been found to be quite reliable.
I have covered "9-Rsi" today and it has been found to be quite reliable.
Tuesday, June 28, 2011
Nifty, having entered the supply zone, managed to close above 50&100smas.
"Patterns" appear & alerts us. It has done so earlier on few occasions in the recent past as per the chart below. Only a follow up prices would confirm their validity. Remember also that they do fail occasionally.
"Lead indicator" has reached the "Overbought zone" but not yet given any "sell indications". It generally takes a minimum of two days to reverse if there is a reversal. Tomorrow's price action in the supply zone of 5570-5610 and subsequent close would help. Beyond tomorrow's close, we have settlement day as well as Month Close. Month ema is @ 5659.
"Lead indicator" has reached the "Overbought zone" but not yet given any "sell indications". It generally takes a minimum of two days to reverse if there is a reversal. Tomorrow's price action in the supply zone of 5570-5610 and subsequent close would help. Beyond tomorrow's close, we have settlement day as well as Month Close. Month ema is @ 5659.
Nifty Intraday Update-I
Even a lagging trend indicator provides decent returns. At the current scenario, it could attempt a negative divergence in the coming days or keep sliding down.
Nifty PreMarket View
Above "5550" upto 5610 has been a upper selling range on many occasions in the past. "5659" is the Monthly Ema and only a close above 5659 or a breakout above 5700(approx) would reverse the downtrend. The current upmove is viewed only as a relief rally., nevertheless a rally to be part of. "5471" is the weekly ema to be protected on weekly basis(4 days to go).
A likely "5-waves" get completed in the region of 5565-5605 and a correction may emerge in a sideways fashion. As FII's have been big buyers and the settlement seem to favour Bulls, the correction is considered to be part of the uptrend as long as 5480-5505 is held today.
A likely "5-waves" get completed in the region of 5565-5605 and a correction may emerge in a sideways fashion. As FII's have been big buyers and the settlement seem to favour Bulls, the correction is considered to be part of the uptrend as long as 5480-5505 is held today.
Monday, June 27, 2011
Nifty resisted at monthly pivot, 50&100Smas.
Use this platform to share your analysis and not your trades.
Make money and never try to impress fellow traders. Though it may look harmless, it distracts the emerging trader, the trader on his/ her way to learn the ropes of this profession would sorely get misled.
Allow my readers to go through the "grind". Let them know it all by trials and tribulations. No butterfly came out of the cocoon without a struggle. Let it take its own time and the time is varied for individuals. I am sure, after the initial challenges, they'll understand the market's nuances and start their slow progress. It'll be their journey and let us make it enjoyable, rewarding and most importantly "satisfying". Let us not carry them on our shoulders.
And Do not celebrate your victories here. Such excitements are distracting. Channelize those abundant energies on your loved ones... Let "them" be part of your victories. Let us be part of your "learning curve".
Above "5550" upto 5610 has been a upper selling range on many occasions in the past. "5659" is the Monthly Ema and only a close above 5659 or a breakout above 5700(approx) would reverse the downtrend. The current upmove is viewed only as a relief rally., nevertheless a rally to be part of. "5471" is the weekly ema to be protected on weekly basis(4 days to go).
Above "5550" upto 5610 has been a upper selling range on many occasions in the past. "5659" is the Monthly Ema and only a close above 5659 or a breakout above 5700(approx) would reverse the downtrend. The current upmove is viewed only as a relief rally., nevertheless a rally to be part of. "5471" is the weekly ema to be protected on weekly basis(4 days to go).
Nifty Intraday Update-I
This indicator gives you the lead. Once it reaches above 80 mark, it becomes Overbought. But the moment it starts to make the "dots" and stay above 80, know that it is trending up. Similarly for "Downtrend". Only in a sideways market does it oscillate between 80& 20.
Nifty PreMarket View
"I" want "my" readers to become self-reliant through "application of what is being learnt by them" with "little help" from "Me" and God willing "Like minded few good samaritans"..
Everyone is aware that I do not encourage "Paid service professionals" to participate in "our activities" here. I have absolutely nothing against them as people. But their profession is exactly opposite to my "idea of Market play". I do not wish "my platform" to be misused whether intentionally or unintentionally. I want "good that lasts" for my readers. "Calls cripples; study empowers".
"I" am here to guide you, not literally, in various stages to apply what is being learnt in the market place to "Make money" slowly and "Quietly".
May I request everyone here to desist from giving "CALLS".
Let your sharing start with your analysis based on objectivity, unbiased that culminates into a "Trading plan".
If you, as a trader, is not able to assess risk/ reward of a trade, you require more time to observe the market first and desist from ruining your wealth. Missing opportunities are fine but messing wealth is not.
I, gladly, added "Bramesh & Aarvee" into my Blog List.
Now that market is poised either to reverse from here for deeper falls or enter into a sideways correction ("b" of "B"), trade the resistance and supports and hold the break-out.
Everyone is aware that I do not encourage "Paid service professionals" to participate in "our activities" here. I have absolutely nothing against them as people. But their profession is exactly opposite to my "idea of Market play". I do not wish "my platform" to be misused whether intentionally or unintentionally. I want "good that lasts" for my readers. "Calls cripples; study empowers".
"I" am here to guide you, not literally, in various stages to apply what is being learnt in the market place to "Make money" slowly and "Quietly".
May I request everyone here to desist from giving "CALLS".
Let your sharing start with your analysis based on objectivity, unbiased that culminates into a "Trading plan".
If you, as a trader, is not able to assess risk/ reward of a trade, you require more time to observe the market first and desist from ruining your wealth. Missing opportunities are fine but messing wealth is not.
I, gladly, added "Bramesh & Aarvee" into my Blog List.
Now that market is poised either to reverse from here for deeper falls or enter into a sideways correction ("b" of "B"), trade the resistance and supports and hold the break-out.
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