Just Nifty: August 2013

Saturday, August 31, 2013

It really is a choice -- what do you choose?

“Know Thyself”
All of us have heard this aphorism. Most of us acknowledge that unless you know yourself first, you really can’t achieve much in life. We also realize that we each have immense potential to create amazing things and find lasting happiness.

And yet....
Most of us don’t even scratch the surface of knowing who we really are, let alone figuring out what we have the potential to become. We are so confused that we keep oscillating between overconfidence and low self-esteem. One minute we are filled with a definite purpose for life and the next we are completely desolate. How can anyone hope to find lasting happiness in this state?
Asking the right questions, is sometimes in itself the answer. Here is a list of questions to get to start on a journey of self-discovery, releasing the potential that is trapped within and consequently finding lasting happiness.

Nifty generates so many signals today in various T/Fs..

Weekly generated a "Double Hammer pattern" with prices closing above WLEma after many weeks.
Month T/F has closed below MLEma after many months: Remember this factor as week & Day gets overbought..

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Prices moving up from below DLEma, moved to DHEma+20 zone and got sold off.
A crucial day when trend would assert & counter trend forces would attempt a reversal.
5368-WLEma; 5376-DEma is the pivotal point.
To turn bullish, 80%-5447 need to be surpassed.
MLEma-5479, a close below this "today, EOM, would be highly bearish.
Below "5380"(also Day Pivot), it would be a break down from Hour channel.
"FII" selling continues, even on days of gains, mainly due to "short covering" and that is done now.
If prices sustain above 38% of last rise, 5311, a reversal possibility.....
Wishing you lots of confidence & peace in your trading room.

Nifty, having closed above DLEma, targeted DHEma+20 zone.

Congrats "Aly" for winning the Expiry contest:
Reason being it will be near channel trendline and will leave everyone in suspense till tomorrow.
will give enough reason for shorts and long to hang-on to their positions

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's have been selling big everyday.
Huge rallies are associated with big falls.
Let a rally retrace more than 80% of the last fall, we, then, look for strength giving signals.
Until then, follow the trend.
There are two golden ratios at work today which coincide with VIX range: 5372 & 5195.
21/34 Hr smas are the immediate resistances. No supports are established so far.
Wishing you lots of confidence & peace in your trading room.

Nifty's volatilty increases with the rise in VIX.

VIX range for tomorrow comes @ 5195 to 5375.
5375 coincides with 5372, 61.8% of last fall.
The impulsive characteristics of the downtrend are intact so far.

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

A weekly Hammer pattern failing to have a "follow-up price action" becomes a "Pause candle".
And the downtrend has resumed again after a brief rally from 5254 to 5529, almost a 300 pt. one.
If rally gives 300, imagine what the "trend" would give.
If pauses @ 5232 zone, a small bounce is likely.
Strength would return only on a close above 21/34 Hr smas.
More prices move away from MLEma, the downward momentum from the biggest T/F, month, becomes a high possibility.
Wishing you lots of confidence & peace in your trading room.

Nifty shows signs of an impulsive downmove....again..

Nifty Intraday Update-I

Nifty Pre-Market View.

DHEma is coming down; DLEma is rising up.
There is a contraction in this range happening.
Prices on reaching DHEma+20 got sold off and got confirmed by an ORB down @ 5495NF.
Prices found support @ DEma(5453) and rose again to DHEma+20 only to be sold off again.
There is a "testing of demand & supply going on".
As long as prices move in the band of DHEma+20 to DLEma-20, "Trading happens in this range".
Hour TA is overbought & shows signs of weakness.
If day trend indicator triggers up, strength would return.
The impulsive character of this downtrend is being put to test in these days...
Current week Close is more important cos' of month end too.
Wishing you lots of confidence & peace in your trading room.

He that is good at making excuses is seldom good for anything else.

A man who went next door to borrow his neighbor’s lawnmower. The neighbor explained that he could not let him use the mower because all the flights had been canceled from New York to Los Angeles. The borrower asked him, “What do canceled flights from New York to Los Angeles had to do with borrowing your lawnmower.”

“It doesn't have anything to do with it,” the neighbor replied, "but if I don't want to let you use my lawnmower, one excuse is as good as another.”
Excuses: they’re not real reasons; they’re just ways of avoiding what we really don’t want to do.
“An excuse is the skin of a reason stuffed with a lie.”

Nifty's ST trend turns up while LT trend remains down.

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Yesterday's price action with its "close" has put a small "pause" in downtrend.
It needs follow up action and prices should sustain 5360-70 zone.
If weekly pause emerges with a close above 5493, we'll relabel the fall as an abc from 6093-5254 and a corrective is on.
The impulsive character of this downtrend will be put to test in the coming days...
Wishing you lots of confidence & peace in your trading room.