Tuesday, December 31, 2013
Nifty Pre-Market View.
Year that started @ 5938, seeing a high @ 6415 & a low @ 5119, is attempting to "stay above 6269".
There has been selling @ 6308-18 zone recently. Sustaining this, strength remains.
Redrawn Hour channel would give support around the last low of 6259, also DLEma.
ST technical is on downswing while Day T/F has signalled "sell on rises", upto 6331-46, approx.
Holiday season's low volume activity is not a reliable indicator of market dynamics and a clear picture would emerge either from 02nd Jan or 06th Jan.
We are grateful for the year going by and we are confident of a successful year ahead for you, me and everyone.
There has been selling @ 6308-18 zone recently. Sustaining this, strength remains.
Redrawn Hour channel would give support around the last low of 6259, also DLEma.
ST technical is on downswing while Day T/F has signalled "sell on rises", upto 6331-46, approx.
Holiday season's low volume activity is not a reliable indicator of market dynamics and a clear picture would emerge either from 02nd Jan or 06th Jan.
We are grateful for the year going by and we are confident of a successful year ahead for you, me and everyone.
Monday, December 30, 2013
Nifty Pre-Market View.
Nifty has been "bouncing/ inching up" last week after a sharp decline from 6415 to 6130.
It has made a last corrective low @ 6259 below which weakness would get confirmed.
Critical resistances remain @ 6326-58.
Aggressive traders would read weakness as " breaking of 61.8% of last rise" (fm 6259) which coincides with 34 Hr Sma presently.
It has made a last corrective low @ 6259 below which weakness would get confirmed.
Critical resistances remain @ 6326-58.
Aggressive traders would read weakness as " breaking of 61.8% of last rise" (fm 6259) which coincides with 34 Hr Sma presently.
Saturday, December 28, 2013
Arrogance, in varied degrees, before the fall starts....
There was a very, very saintly priest whom everybody was extremely fond of. A young aspirant came to the priest's hermitage and expressed his desire to practise spirituality. The priest said, "No, no, you are too young. I do not want to have you as my student."
The young boy said, "It is true that I am young, but if I start at this early age, then in the course of time I will become very, very spiritual."
The priest said, "I admire your philosophy. I accept you as my student, and I am blessing you so that you will become very spiritual." Then the priest started giving the boy lessons.
The priest said, "I admire your philosophy. I accept you as my student, and I am blessing you so that you will become very spiritual." Then the priest started giving the boy lessons.
Friday, December 27, 2013
Nifty Pre-Market View.
Nifty's last fall started from 6303 yesterday; the retrace for the same is @ 6286-94 above which & above 6303, the corrective rally that started from 6130 would resume..
Below 6280, the correction could continue towards the Hour channel around 6242-48...
Below DLEma-6232, it would turn weak...
FII's continue to be buyers & VIX continue to slide down...
Trading mode continues till prices are stuck between the 90's & the 30's..
Below 6280, the correction could continue towards the Hour channel around 6242-48...
Below DLEma-6232, it would turn weak...
FII's continue to be buyers & VIX continue to slide down...
Trading mode continues till prices are stuck between the 90's & the 30's..
Thursday, December 26, 2013
Nifty's corrective selling has held above the critical "6248" till now...
Congratulations to all Winners of the expiry contest..!!
Ajit Patil(6277), Raghavendra(6275), Raman Kapoor(6275):
Though all three of the above could be said to be winners, the real winner is
"Raman Kapoor" for his "reasoning as below":-
It is between 6250 and 6300 and hence will support the 6250PE and 6300 CE writers and is also closer to the 50% retracement of 6415 to 6130 and is also the 23.6% retracement level of the recent fall from 6318 to 6262.
Thank you V.K.Soni and all participants..
Ajit Patil(6277), Raghavendra(6275), Raman Kapoor(6275):
Though all three of the above could be said to be winners, the real winner is
"Raman Kapoor" for his "reasoning as below":-
It is between 6250 and 6300 and hence will support the 6250PE and 6300 CE writers and is also closer to the 50% retracement of 6415 to 6130 and is also the 23.6% retracement level of the recent fall from 6318 to 6262.
Thank you V.K.Soni and all participants..
Nifty Pre-Market View.
The crucial resistances are in the region of "6310-26" (& 6358). How Nifty will manage that zone would be keenly watched for..
Critical support is @ "6239-49".
Closing below DHEma, the upward momentum is lost & a trading mode has come in.
Two scenarios at work as labelled in the Hour chart for ST. 80% need not negate the bearishness, only 6415.
EW: Holding the hour channel (approx.6233-39), prices could resume uptrend....OR
Keeping below 6297-6307(61.8%-80%, based on the current corrective low of 6262), prices would head lower..
Critical support is @ "6239-49".
Closing below DHEma, the upward momentum is lost & a trading mode has come in.
Two scenarios at work as labelled in the Hour chart for ST. 80% need not negate the bearishness, only 6415.
EW: Holding the hour channel (approx.6233-39), prices could resume uptrend....OR
Keeping below 6297-6307(61.8%-80%, based on the current corrective low of 6262), prices would head lower..
Wednesday, December 25, 2013
Merry Christmas...
The most mundane actions can have a ripple effect - holding open the door for someone, smiling at the grocery clerk—change the course of the day by affecting how we feel.
That rush of good feeling that comes after a daily run, the inspiring conversation with a good friend, or the momentary flash of anger that arises when someone cuts in front of us in line—what could they have to do with big life matters? Everything, actually.
Tuesday, December 24, 2013
Nifty Pre-Market View.
The crucial resistances are in the region of "6326-58". How Nifty will manage that zone would be keenly watched for..
Critical support has now risen now to "6239-48". Continue to close above DHEma would keep the upward momentum intact.
Two scenarios at work as labelled in the Hour chart for ST. 80% need not negate the bearishness, only 6415.
EW: Holding the critical support @ 6239-48, prices would move "higher" into the crucial resistances @ 6326-58 to complete the 5th of the wave that started from "6151" which would also complete the "abc". It is only when the prices make another high beyond "that high", resumption of bullishness would get confirmed.
Critical support has now risen now to "6239-48". Continue to close above DHEma would keep the upward momentum intact.
Two scenarios at work as labelled in the Hour chart for ST. 80% need not negate the bearishness, only 6415.
EW: Holding the critical support @ 6239-48, prices would move "higher" into the crucial resistances @ 6326-58 to complete the 5th of the wave that started from "6151" which would also complete the "abc". It is only when the prices make another high beyond "that high", resumption of bullishness would get confirmed.
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Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
