Just Nifty: November 2013

Saturday, November 30, 2013

How many occasions have you been indifferent ?

We have witnessed in our times some issues like the Kashmir problem, Sri Lankan problem, Palestinian problem persisting for years. Relationship problems between a husband and wife are in no way different from these. There was a big industrialist, who thought only about business; even at home. He had a very talkative wife.

Initially, he tolerated the constant nagging of his wife, but as the business grew., he became impatient with her. So in order to find a solution, he approached a saint. The wife came to know of this. She was furious and immediately confronted him.

Nifty gains in ST & MT but loses in LT signal..

Nifty Pre-Market View.

Last day of the month; also the last day of the week.
Prices are below MHEma & WHEma.
If prices could sustain Wema-6074(Conservative) & DHEma-presently 6106(aggressive), month trend could assert itself;
Only a close below 6074 would continue week's downtrend but a close above WLEma-6007, would mean a "Pause".
We have followed the prices based on our studies from the start of this month and they hold true for the last day of the month too.

Nifty, freed from Settlement woes, would make a technical move tomorrow..

Congratulations to " m.veerasamy Maruthai".. for calling the expiry contest correctly.
=====================================================
m.veerasamy Maruthai said...
My guess is 6088 61.8% Retrace of the last fall from 6124 to 6030
Veerasamy
November 28, 2013 at 2:23 PM ===================================================
Congratulations to " V.K.Soni & to all participants"

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

6077(6090NF) - Open & High of 26th Nov, last hour from where prices fell with huge volume is the critical number for the day.
Trading above it, negates the weakness. It is also the JNSAR (6079).
Nifty has held the Gap @ 6012-36. Continuing to hold the same and moving past 6105 would amount to break out of this contracting range.
ST technicals favour such a scenario, coupled with month trend's asserting time.
Watch the prices for your final call.
VIX Range for the day is 5994-6124.

Nifty holding on to the "Gap support"...amidst technical weakness all around..

Nifty Intraday Update-I

Nifty Pre-Market View.

Nifty is under the influence of contracting ranges right from Month to Hour T/F.
Add to it, the influence of differing technical signals as visible from the TT.
As stated at the start of the week,
Last week of the month is upon us and month trend would attempt to assert itself either today or in the last 2 days of this week/month..
"Follow" the retracing moves..as long as "5946-72" is held..
These is a cluster support just above MEma-5909.
Above "6021-35", it is retracing towards "6093-6121".(Based on current low of 5973)
Above "6165", bullishness confirmed for new highs.
Inability to move past these retracements, prices could seek 200dsma..

Nifty "down under" various T/F's alignment blues...

Nifty Pre-Market View.

Month Trend "UP"; Week Trend "Down"; Day Trend "UP sans momentum"...and...
Prices retraced "golden ratio" @ 6121. More strength "only" on sustaining 6121 & 6165.
Last rise retrace @ 6070-80 & 6060-Wk.pivot are the immediate supports.
If "relief rally", it should resume fall having completed golden retrace.
If "reversal", it should hold "6031-37"(or 6003) and move past 6125 & 6165.
Presently focus on "Day" holding "6077" & "DLEma"...

Nifty reverses from OS Hour TA with month uptrend "starting" to assert itself...

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

A 5-wave pattern is being completed from the recent top of 6212.
Last week of the month is upon us and month trend would attempt to assert itself either today or in the last 2 days of this week/month..
"Follow" the retracing moves..as long as "5946-72" is held.. These is a cluster support just above MEma-5909.
Above "6021-35", it is retracing towards "6093-6121".(Based on current low of 5973)
Above "6165", bullishness confirmed for new highs.
Inability to move past these retracements, prices could seek 200dsma..

Become wise yourself...by keeping your mind at wherever you are..

The only true wisdom is in knowing you know nothing. - Socrates.
Every person sees the world differently, depending on his nature and vision of life. The ignorant person and the wise one – both encounter the same world; but what is the vision of a person of wisdom?
How does he think, feel, and respond to the world?
Someone went to a realised person and asked, ‘I know that you are an enlightened one, but what do you do all day?’
The wise man replied, ‘I sleep, i get up, i take a shower, i eat and then i work.’

‘That is nothing different. I also do the same.’
‘But when i sleep, i sleep,’ corrected the enlightened person.‘When i wake up, i am awake. When i bathe, i bathe, when i eat, i eat and when i work, i work.’

Nifty, downtrending, closes below the critical Wk & Day LEmas...

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

BankNifty shows a 5-wave "being" completed. Similar observations could be made for Nifty too.
This being a simple observation of pattern, the corrective rise for the 5 wave could take many forms such as a flat, zigzag or even a running correction.
Trend being strongly down, DLEma & WLEma are the key numbers for the day.
Immediate resistances are the running correction zone of "iv"th wave @ 6027-55.
Immediate support for "v", in case trades below "6031" @ open is "5957-68".
Failure to find a ST bottom @ 5946(golden retrace) would indicate weakness towards 200dsma(5862) & lower..