Just Nifty: December 2012

Monday, December 31, 2012

Wishing you a Happy New Year.

Celebrate...but remember the fallen one.
Nothing has touched our hearts so much as her life & ordeals.
No promises and fancy speeches... but do whatever you can..whenever & wherever it matters the most.
Just keep on doing your bit, remembering the slain Hero who struggled all through her life with a smile.

Nifty Intraday update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Last day of the week, Nifty asserted its trend.
Last day of the month is here.
"5937" is the 80%; "5939 & 5950" are the prev. minor peaks & resistances thus.
"5880 & 5895" are the supports-2 Hr low & Week pivot.
We continue to maintain that the market is in its terminal stage of uptrend and hence trade with caution.
Do not ignore reversal signals, especially since the higher T/F technicals are in overbought zone.

The story of one person is the story of all of humanity

“If the whole world is evil, then the tragedy that befell you is justified," she went on. "That would make it easier for you to accept the deaths of your wife and daughters. But if good people do exist, then, however much you deny it, your life will be unbearable; because fate set a trap for you, and you know you didn't deserve it.”

“About the nature of human beings. I discovered that confronted by temptation, we will always fall. Given the right circumstances, every human being on this earth would be willing to commit evil.”
“It isn't the desire to abide by the law that makes everyone behave as society requires, but the fear of punishment. Each one of us carries a gallows inside us.”
An old legend tells of how a certain city in the Pyrenees mountains used to be a stronghold for drug-traffickers, smugglers and exiles.

Nifty recaptures the crucial WHEma but falls short of DHEma & the 80%-5918.

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Last week's close signaled a "Sell on rise" in week T/F.
And "intra-week", Nifty rose closer to the highs and offered that opportunity yesterday.
This new signal "slipped out of an objective mind".
And now the day T/F has not only closed below HEma but also below DEma. As the ranges narrow down, whipsaws would be many in the signals.
"5884-98" is the opening resistances and Nifty could seek support at the lower range @ 5840-55 zone.
And it is the "retracement for the 5931 to XXXX fall or reversal action from 1st session's lows" that will offer the "Sell on rises" besides the opening one..
Break-out would be above 5912-R1.
Break-down would be below 5839.
As you can see from the chart below, the range is contracting; hence trade smart or wait it out.

Nifty opened into the resistance & continued to slide seeking support ....

Fibonacci identified the resistance zone @ 5926-39.
Elliott wave confirmed the ST top with 5 waves into that resistance with "ii" & "e" as 2 possibilities down.
J. Welles Wilder's RSI(Relative strength index) indicated that weakness @ 1.00PM close, observed and alerted by "ShivanGupta".
VIX range provided the lowest point almost @ 5862 & so did Pre-Mkt.
This is "objective application" of studies without our own opinions.

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

"5926-39" is the immediate resistance above which is "5950".
EOD Prices have brought in the strength which would require a follow up.
Those who update "JustNifty TA" file would have spotted the reversal @ 10.00AM price feeding, with 9 & 14 hour period rsi showing sharp reversal. It is such "indications" that have earned them the name "Indicators".
Watch for prices sustaining 21 & 34 hr smas for continued strength.

Nifty, holding above Day's pivot & oversold in Hour TA, "attempting" a reversal with a close above all critical numbers.

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

"Sell on rises" continues since being resisted @ 5939(80%) few days ago.
The redrawn hour channel support comes @ 5815-25.
The day channel support comes @ 50Sma-5745.
Immediate resistances are @ 5872-86.
Next resistances @ 5900-25.

Nifty holds on to the lower range in a low volume market.

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Nifty, in its early stage of a reversal, would have some counter moves from bulls during intraday.
"5839" was a double bottom before it got breached once and a counter move, if any could open up from where, keeping the ST downtrend intact.
"5902 & 5911" are the two 61.8% &
"5920 & 5939" are the two 80%. (1. 5939 to 5842; 2.5965 to 5823).
"5890-99" is the immediate resistance-21/34hr sma.

Hold me! Hold me tight!

On Christmas Eve a young soldier feeling trapped in London during the 2nd World War was very lonely and sad to be away from his family and home.
As the war still raged on in London this was a very dangerous time and place with Churches and most other social and public places either closed or destroyed. And so in spite of this, the young soldier organized amongst a few of his mates to go out on Christmas Eve and to make Christmas of whatever they found.

Shortly after leaving their military compound they came across an old grey building with an affixed sign, which said, "Queen Anne's Orphanage".
This was perfect they all thought. The young men's hearts pounded quickly and they gathered themselves and knocked on the door. The door slowly opened as a kind elderly woman cautiously emerged from behind it and bid them all a Merry Christmas, then, asking how she might be of any help?