Nifty, having closed below DHEma yesterday, tests DLEma and is in sideways mode.

Hi...JayShah,

Pre-Market view was clear about the low being made at the open around 4765-4755. One would have booked out of JNSAR and gone long for the retracement rally.
@4800, once again, JNSAR Longs would have triggered @ Booked out partly @ 4850. The SAR with filter for the long should have been managed and held on.

JNSAR trades may have to be better managed during "closes between DHEma and DLEma (the trading mode)" using TT & Pivot table. Today's range was almost between DLEma(4755) and DHEma(4847).

1. JustNifty TA(01st Dec)

Nifty Intraday Update-I

Nifty PreMarket View

Dear Dr.Cooldent,
Many many Happy returns of the day.
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Nifty has, after 3 days of rally of 227 points, found 4865 as a resistance and has started to fall. The minor supports @ 4765(5-sma) & DLEma if held, watch out for the retracement. The big sell off hour candle high was 4843.
If it is the 5th wave, the "ist" & "ii"nd gets completed and the "iiird" may even make a start.
If it is a complex "b" wave correction ("a" being 4639 to 4866), look out for 50% & 61.8%(4750&4726) to hold.

Nifty gets into a sideways mode with a close below DHEma.

Pre-Market View:
"iv"...? or "4th"...? the doubt lingers till the week TA continues to be down.
One of our reader and a seasoned blog owner, Anuj Joshi, who has done in-depth analysis of SAR trades has found that often the trade next to a "Big-gain SAR trade" tend to whipsaw. It is not a rule. But it requires close monitoring. A JNSAR trade after a 210 point rally from the lows would have exhaustion built into it.
The last 2-Hour low is 4812 and the last hour low is 4846 are for aggressive traders.
"4835" being DHEma & HHEma would signal "Intraday weakness", followed by "4812".
"21 hr sma" which is rising (presently @ 4750) is a critical level.

= = = = = = =

And "21 hr sma" rose to 4787 - is a critical level and that was the low of the day.

Pre-Market's resistance was 4865 (arrived at by adding 20 points to an anticipated DHEma-4845+20) and that was the high of the day.

= = = = = = =

Most do not want to study and understand different markets (based on various T/F set ups) which help you to tilt your posture towards a sell at OB or buy on dips, etc.

Most do not want to identify the studies that are currently working and use them effectively.

TT has certain guidelines listed in it...if only you care to put to practice.

Calling me fair or unfair will not solve your problems. Introspection will.

I don't need you. And I never said you need me. If you remain objective in the market, such languages will not spill over but real learning happens and you'll slowly master this market.

You come into this market with a lot of luggage-opinions and you want me to certify that. I can't. I present facts as I see it. And I am not afraid of failures. Day in Day out... Hour after Hour, I am putting them here.

The moment you resolve to "Blame me" for what is essentially your responsibility, You are lost. Believe me...such an attitude will take you nowhere.

I'm scared at times of what I see and feel. I restrict my languages to the level of "guidance" only. And if you can understand them and benefit from them, you end up a winner. If you fail to take advantage of them, you miss an opportunity. Either way, it is "YOU" who has to take those steps and that starts with "sound basics".

1. JustNifty TA(30th Nov)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

"iv"...? or "4th"...? the doubt lingers till the week TA continues to be down.
One of our reader and a seasoned blog owner, Anuj Joshi, who has done in-depth analysis of SAR trades has found that often the trade next to a "Big-gain SAR trade" tend to whipsaw. It is not a rule. But it requires close monitoring. A JNSAR trade after a 210 point rally from the lows would have exhaustion built into it.
The last 2-Hour low is 4812 and the last hour low is 4846 are for aggressive traders.

"4835" being DHEma & HHEma would signal "Intraday weakness", followed by "4812".

"21 hr ema" which is rising (presently @ 4750) is a critical level.

Nifty opened near ST trigger 4773 & has closed above JNSAR.

EW study alerted the possibility of "iv.c" to a channel break on Friday and TT study suggested an upper range of DHEma + 20 points=4835+20=4855 which brought us to JNSAR today and now JNSAR has taken over that trade.

"iv.c" may lose its relevance and a larger "4th" may be in contention or 5382-4639 may be treated as "a" wave of an "abc" downmove.

"Please avoid trumpeting your systems here" - There is already enough here to make money. What is required is some discipline from the individual to believe in and to act.

Sharing Technical analysis/ observations is one thing...and highlighting your performance is another thing. Look ahead....

1. JustNifty TA(29th Nov)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

Remembering a true Martyr on 26/11.

when thousands of jellyfish washed ashore by the Arabian Sea stung visitors on Girgaum Chowpatty, a constable on duty worked tirelessly to keep people off the beach. When few heeded his warning, he went home and read up on the creature. The next day, he went to the beach with a bagful of lemons, bought with his own money, and administered lime juice on every sting injury as he had read it would provide relief.

This incident was probably a glimpse of the rare quality that led the same man, assistant SI Tukaram Omble, to pounce on a gun-toting terrorist in the wee hours of November 27, and pin him down bare-handed, in spite of five bullets lodged in his body. Going beyond the defined call of duty was characteristic of 54-year-old Omble, attached to DB Marg police station, whose heroic effort helped police nab one of the 26/11 attackers, Lashkar operative Mohammed Ajmal Amir Qasab, alive near Girgaum Chowpatty.

Nifty seem to be pausing for more downsides...(4665-80%)

Till a weekly confirmation comes, the bounces will be short lived. Week is yet to reach oversold zone. If Monday, market moves higher, that would give a good selling opportunity. A fifth wave down would provide a short term buying opportunity. This is the present observation. "iv"th waves are tricky in a fast falling market.

1. JustNifty TA(28th Nov)

2. BankNifty TA(28th Nov)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

Nifty has nearly completed a "zigzag"(3 waves) from 4639 lows yesterday.
If it is a sub-wave, it will continue to make new lows, if not today, on Monday.
If it has commenced the 4th wave or a corrective "b" wave, it'll still correct part of yesterday's rise and then move higher.
As long as it holds above 80%(4665), more upsides possible. If it makes more highs in the first session, recalculate the 80% retrace.
Weekly trend remains down and so do Month.
Daily is yet to close above 5-ema for a trend reversal.
DLEma less 20 points come to 4718.(depends on today's low ema..??!!)Its the day pivot.

Nifty shows signs of ST bottoming.

1. JustNifty TA(25th Nov)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

"Fearing a counter trend move, we let go off the current trending move".
You will not find a simpler tool to capture the trending as well as the sideways moves like the Tech.Table - It captures the strength & weakness of the price and price alone.
Make an effort to feel the "strength & weakness" of the market through the changing colours in TT and of various time frames'and simply "stay with it" as one day it will reward you big, the biggest trade of the year.
Someone asked me whether anyone has seen a dumb trader. I have seen a few. They look so dumb in front of the experts but end up making many times the experts. They are the doers...doing things slowly...knowing the great potential of the experts and they have come to believe in something simple and they remain simple. They talk very less...concentrating only on those "action times"...and "acting".
So look out for those action times...and act.
Thank you Dinesh Rishi, Bramesh & SAN - I simply opened another mail a/c...blog...and copying the htmls here.

Nifty reached the earlier cluster point around 4600.

1. JustNifty TA(24th Nov)

Why traders get emotional and not able to follow through their plans?

The answer is quite simple.

When you make your trading plan, you use your brain.

When you start to execute the plan, implement your strategy, leave out the "thinking"...leave out your "ego".... Just do it.

Using your brain unnecessarily, you end up a loser...and you have also seen many messing up their trades despite knowing fully well what should be done.

Now try this: Without using your brain, simply execute the trades. Wait... wait..not just yet.. Wait for those "good trade set ups" to emerge and then start.

With this knowledge that trades are messed up when we start having "opinions" of what the market will do....and this fear holds you back from doing the right thing.

So the steps you must take include:

1. Plan a trade with one or two contingency plans.

2. Key in your order to buy or sell.

3. When the order is executed, key in the "Exit price" along with your SL.

4. Do not change it unless one of your contingency scenario start to play out.

5. For simplicity, you can do away with contingency plans.

How do I plan my trade...?

Take the JNSAR number and plan your trade with it. It can't get simpler than this.I have shown it in the pre-market table. Can you get dumber...dumber...and then see all those riches.. Stop the chatter..start hearing those money jingles.

If you are not holding your "Shorts" created @ 5275NF, wait for the next signal or next re-sell opportunity.

Click on the chart to get a clear view.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

Staying below 4815 and breaking 4785 will lead Nifty to New lows. We have a fast fall in progress too.

Only a move above 21Hr Sma(Updated every hour on the chart) would indicate some strength to take it to 34Hr Sma/ 5DEma.

As has been repeated earlier, settlement woes would continue to drag the index down with bouts of short covering/ roll over. As bears are in profit, they are not in a hurry to cover them. And as bulls are in loss, they will come to close their positions at every rise, hence the unsustainability of bounces.

Nifty, if holds above 4780, could be pausing.

The minor waves leave two possible scenarios, one in the 14-hr chart and the other in the "Nifty intraday update-III" post.

For traders, it'll offer some quick changing sideways moves.

Decisive move may be seen beyond 4780 & 4850 but not a lasting one. The reason being above 4850, there will be resistances from 4890 to 4920 and breaking 4780, it may be making the settlement lows.