Nifty Pre-Market View.

What is a "Roll over"?
And what does it do to your account?
What is the difference between "Marked to market" & "Margin money"?
And what is booking out loss or exiting a position?
What is an illusion?
What is "Hope"?
And what is "Acceptance"?
What it is to make trades based on merits and merits alone, removing the money aspect of it?
Make a credible statement based on these. Let it be a simple one taking into account all the above concerns.
I can write it. But it would be better if you apply your mind and put forth your thoughts incorporating all these points in a cohesive manner.
It would help traders having this illusion for very long time. Let us just simply break from this cancerous act.
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EW: Prices did a 5 fall from 6777 to 6702, a 75 points of max. hour correction and did an irregular flat correction from then on with its "c" ending " 6746" @ 61.8%.
To continue the correction in the form of a zigzag, it should not cross 80% @ 6762 and start another 5 down. a=c would give us 6671(almost JNSAR/ Channel bottom) by which time hour could be oversold. a x 61.8% = c would give 6700.
To continue uptrend, prices must hold above 61.8%-80.0% retrace of the last rise from 6697 to 6746 @6716-6707. And 34 Hr sma is placed here.
Correction could be a single zigzag or a double and it will be known as the technicals unfold.
It is also possible that this fall is the start of a 5-wave of which 1 & 2 are completed and 3rd is underway.
Prices have closed below DHEma and it would go towards DLEma less 20 points in the coming days, provided key retracement of last fall is protected.
As a trend trader, you could look for new buying opportunities at critical retrace zones. OR
As a trader following new signals, look for selling opportunities for "intraday" based on ST signals.
The choice is yours, a choice that comes out based on your perspective and there comes the subjectivity.

Nifty Pre-Market View.

Month close is below 5-mth sma-5755.
Weekly has given a "sell on rises".
Day has been in downtrend with momentum entering on Friday.
Oversold Hour would produce few intra rally attempts.
We have seen many "irregular corrections" along the way which is bearish.
I repeat again: Always weigh your trade options.
Do you want to always pick the trades against the trend?
OR
Do you want to use the opportunities(rises in downtrend, dips in uptrend) to initiate "Trendy"trades?
You have to make that choice "consciously".
One should not bother "too much" counting "intraday waves" if they are not clear. For the patient trader, the waves will catch your eyes when they are ready. And capitalise on it, then.

Nifty Intraday Update-II

Honestly, I travelled the stock market for 21 years of which I struggled for almost 80% years.
I have attained a reasonable amount of clarity, thanks mainly to "Keeping away from marketmen & market talk".
I wonder, how many will understand this.
Most still come here for the "Nasha" and they sure get it in unlimited quantity.
It is only the serious & sincere ones who focus to "unearth the riches unlimited".
A doctor studies for so many years and practices still more for many years before he can reasonably understand human body and treat it with focus and objectivity. When he practices, it looks simple but the "reaching took many years".
How many years you are willing to give?
How much pain you are willing to take?
How much sacrifice you are willing to do?
How much responsibility you are willing to own up to?
Learn soon to identify the helping hand here & everywhere.

Nifty Pre-Market View.

Nifty moved above 5679-86 resistance zone and moved past "5692" too to reject the "wave ii" bearish possibility to signal a larger retracement. In either cases, the direction provided was "up".
EOD, not only signalled a pause but also, signalled a buy with a close above "5651".
The crucial EOM is here and a close above "5651" would maintain a month pause.
Also a close above "5693" would add to weekly pause.
 Lead indicator failed to deliver last week but poised to deliver this week.
Follow the prices....above "5716", week pivot, strength towards 5815 & more and weak below it.
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I have been sharing whatever I have learnt the hard way in the market place with everyone without any discrimination through my blog for the past 5 years.
I suggest you to go through the simple write ups listed under the label "Applied Technical analysis" and "For Beginners". You will find them under the "LABELS" section at the side bar of my blog.
It is quite easy to understand. For reference, you can download the "JustNifty TA" excel file from "JN GROUP". It is updated and uploaded everyday.
Later you can go through the 8 topics discussed under "Always start trading with these" at the side bar of my blog.
There are more in the labels section like Market wisdom, Trading with discipline, etc.
Take time to go through them while watching the markets simultaneously. The time you invest today to understand the market before putting your hard earned money to work is the most sensible and wisest act.
In my initial phase in stock market, I wasted away the beginner's luck money earned from the market and gave away much more.
Please understand first and then trade or invest.
You could start right away by trading with our JNSAR, a Stop And Reverse method.
Get rich slowly and quietly.

Nifty Pre-Market View.

Nifty, holding 5566 lows, has done an upmove to 5666, (i)/a and a corrective fall to 5580, (ii)/b and is poised to move higher in the next upmove (iii)/ c towards 5679-86 zone, the last ivth sub-wave.
If "c", it should limit itself to around 5692 and anything beyond it would make it a (iii)rd wave.
Weakness would be below the channel bottom @ 5580.
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You have stated the reasons for your stagnation - Indiscipline.
I would just add..."Get Rich Slowly and Quietly".
Follow the system you have established. It'll take care of returns. Your job is to simply obey its commands and execute and Not Think. Keep your ego out of it which brings in greed and fear.
If Arjuna who was mentored by Lord Krishna fumbled often..wavered mostly, we, mortals, should then beware of the power of our own ego in our destructions.
Part book...re-enter...part book again..n number of times..stay with SAR till the end is the only mantra to be followed.
A true karma yogi will lose himself in the fire of act. Just pay attention to the acts..objective acts..loose your "self".

Nifty Pre-Market View.

Nifty retraced the last fall by less than 80% @ 5686 and falling.
Weekly channel, 1st one, would break below 5625 and the next channel support is far away @ 5400(approx).
There could be pause in between @ 5548-5583 zone.
Resistances would be weekly pivot-5706 & DEma-5731.
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The guidelines posted below the tech. table is indicative only and they work most of the times. However, there are occasions, markets have fallen just after the day it has closed above the High ema or risen after closing below Low ema.

Being alert is an understatement and watching the follow up action is equally important.

These are guidelines but one needs to make a comprehensive trading plan where in tech. table too form an integral part.

In this regard, the combination of macd (Trend indicator) and stochastics (Lead indicator) has given highly successful trade set ups. Most of my charts are also based on these.

Knowing EW helps in "mapping out the likely moves" of the market and any deviations may be fit in with an "alternative view" and if that too fail, then we go back and relook at it from a higher time frame to see the larger picture.

There are traders who follow just the tech. table and are doing well.

Nifty Pre-Market View.

Weekly channel support @ 5615-5625 zone below which there is a cluster support @ 5583-5605 zone.

Monthly channel support is around 5540-50.

Last Hour high-5665, earlier low of 5683 are the immediate resistances above which yesterday's intraday high of  5706 is the next resistance.

Look out for faster retracement of last rise from 5477 to 6229 in the next two days. If that happens, that would add to bearishness. If not, there could be, atleast, a short term counter rally from bulls.

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You have poured your heart out after making a lot of "Sincere efforts to conquer the markets" for some time. I respect your wishes and feelings and I wish you all the very best in your undertakings.

I would like to add here that

One need not make efforts in a forceful way.

One should never attempt to conquer the markets but follow it.

Our JNSAR method eliminates emotions and personal judgements out of the way and has been found to be quite good to capture all the big moves of the market and I have been updating it since Sept.09.

If you feel you have failed, it is definitely not because of any forces beyond your control but due to lack of application to apply your mind objectively. When your money is employed, it becomes quite difficult to remain objective. Besides seeing many making successful trades (and no one tells you about their losing trades), you tend to rush in but too late.

Know this in your heart that making money in the market is not a difficult task but winning consistently is...and that requires discipline..commitment..unwavering focus in following your chosen method.

I hope to interact with you whenever you are ready.

Nifty Pre-Market View.

Last week's close suggested a downward momentum to continue with a close below "5825". However, the Short term TA, with a close above DLEma on 14th, suggested a bounce till middle of this week and market did move upto 5863 on Tue & bounced upto 5828 yesterday and now poised to head lower.

EW's pref. view has been the completion of "iv"th @ 5863 and a move down. 

TA,  as shown in EOD's trend chart, has been down with Hour TA reaching OB & reversing.

JNSAR traders would experience an adverse gap down which happens occasionally in "Mechanical trading system which should be managed during pull backs; some would have saved their "shorts @ 5791" with a filter @ 5831.

Gap @ 5730-40, if not held, it could head to new lows below 5683 either today or tomorrow.

Weekly channel support is @ 5635 approx.

Strength above 5804(JNSAR/ 200dsma), weakness below it.

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Trendlines can be drawn on all "time frame" charts such as month, week, day, hour & minute.
The larger the time frame more valid the supports & resistances.
The correct way to approach this is to know your time frame of trading and adopt it accordingly.
The best way is to keep all time frames side by side and take a cohesive study of them which could give clues to market's choppy actions.
For eg: Just looking at the 5-minute & hour trendlines/ channels, market could bounce many times and may look choppy but if you study it together with a day channel, it would look within that "day trendline" and you will be able to accept those choppiness as part of a corrective within a trend.
How to draw trendlines:
Initially you wait for a higher low to be made in an uptrend and then connect the lowest point to the higher low point. The more points the trendline takes support, more significant it becomes.
Once a high and a higher high is in place, a trendline could be drawn connecting the two highs and then take a parallel line of it to the "low point" to arrive at an alternative support trendline.
Many parallel lines could be drawn to find various supports & resistances. Using one's imagination, creativity, thinking out of the box, the trendlines may be drawn in various ways but they must result in arriving at critical points which should coincide with divergences/ OB or OS nature of TA.
How to draw channels:
When a parallel line of a trendline(connecting the bottoms) is done connecting the tops, it becomes a channel and a trending stock/ index will generally move within such a channel. Break of such a channel may warn us of a weakening of the trend and a new channels may then be drawn and if the new channel too is broken, a trend reversal may be taking place. More lengthier the channel, more significant its break down or break out.
You can see examples of these trendlines and channels in most of my charts. There are no secrets in them except your own imagination and experience.
Finally, use these in conjunction with other TA indicators and if possible Elliott wave possibilities(in fact, trendlines form the most basic & integral part of waves identification), the results will be extraordinary.

Nifty Pre-Market View.

Nifty logged into trading/ pause mode when it closed above DLEma on 14th June. And it got sold off above DHEma 5838-55(DHEma to DHEMA+20) on 17th & 5847-63(DHEma to DHEMA+20) on 18th but holding onto DEma @ EOD.
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"Let us remember that a ST reversal possibility starts in hour T/F.
Let us also remember that weekly trend still remains "DOWN" with its LEma @ 5825. If it remains so till EOD, this rise would play itself out by middle of next week.--June 14, 2013 at 12:33 PM.
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"Middle of next week is here & today."
Above "5840-51", 61.8%-80% of last fall from 5863 to 5804, strength.
Resistances @ 5870-84 zone. Above 5884, larger retrace for 6134-5693 comes into play.
Supports @ 5791-5802 zone. Below would be the critical "5770".
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Go to "icharts.in" and you can study various stock charts and how Applied Technicals have helped to understand the price behaviour as well as anticipate price patterns.
Keep your study to few stocks and Nifty.
You can choose 2 or 3 indicators of your choice and settings (I have chosen S.Macd, F.Stochastics &       9-Rsi). It gives you Day & weekly charts free of cost. You can make your short term delivery based trading by studying these charts and make your entry/ exit plans. Always combine the stock study with the index. Most stocks follow the index except few defensive ones.
Why short term delivery based trading..?
There is no margin trading and hence your losses will be minimum in case the trade goes wrong.
You will be relaxed to initiate a trade as your time horizon would be 3 to 10 days. However, it requires patience.
Choose high volume & institutional favourites - pick from Nifty.50 & Junior.50. Expect a return of 3 to 5% from stocks and it could go higher during trending times.
As I do not use any software, I suggest you to start with this study and then move on to "icharts's paid software for intraday charts" if you feel the need to.
Make money - should be your objective. Put your money only when you're ready. Until then, you can do "JNSAR trading" relaxingly.

Nifty Pre-Market View.

Nifty near its 61.8% of its last fall(5972 to 5683)-5862 and the cluster starting point of 5870.
For supports monitor the retrace of the last rise from 5683 to 5855 and "5777-5797" zone.
For Intraday traders, weakness below 5840 with minor supports @ 5811 & 5797.
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If you are really committed to making 300+ points on an average, then forget about those sideways markets for they will get you glued to the screen.
How much of a sideways move possible & when they will end is time consuming & wasteful to apply our mind to it and hence choose on part booking on our positions and re-initiating the positions as long as the market is in its original trend.
JNSAR  is one such option. You could combine them with +ve and -ve divergences of Hour charts for fine tuning.
The idea is to do less but make more for which patience and belief in our own study is important.
Indicator reading is to be done judiciously and only when it is required..mostly at the extreme points.
Do not attempt to look for a perfect system. There isn't any. The right approach is to weigh the risk-reward and plan a trade with your own parameters to be fulfilled to initiate a trade. Market never will leave you behind and run off as long as you play by the known technical studies and even if they do, one miss will not harm your wealth.
Last month was a pause month and still one could have made something out of trades provided they part booked and reversed the trades promptly.
There is a misconception that by the time we get all the signals to buy or sell, market would have run off far away. Our system should be made in such a way to reduce such large time gap and while doing so, some whipsaws may creep in which need to be managed with small stop losses.
In a year, if you can capture 6 to 8 large trades and manage the remaining trades with part booking and stop losses, you will get rich slowly.
To do well in the markets, be aware of your emotions and stay on top of them. Our emotions will teach us a lot if we stay conscious of them and not get carried away by them.
Be greedy when you are right and be fearful when you go against your own methods.
Learn before you start out to earn...

Nifty Pre-Market View.

Holding 5751-67 is good to continue this rally.
"5836", 10 dsma being the first resistance & "5862-70", 61.8% & cluster resistance.
I'll share, from now on, most of my interactions with readers here for the benefit of Beginners.
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If you really want to take advantage of your intelligence, you need to keep away from market men and if you can not stay away from them, then stay detached.
There are two parts to your trading.
One is your analytic part which observes, deduces and then makes a strategy.
The other is the "dumb trader" who methodically executes the plan.
These two should stay separate. Having known many traders and myself in the early years, all the problems start when "both sit together" which opens up unending possibilities and ends eventually in "misses & losses".
You have to develop calmness. You just can not get excited about spotting a divergence or a pattern. You have to be mechanical about "exploiting such opportunities" in a cold, calculating way.
You have to tell yourself that your "goal is making money" and not "just spotting & being right."
Take it slowly. There will be 1000 opportunities in a year. Just capture 50 to 100 of High probable ones. Dig into your years of experience and discriminate between gambling and "well thought out-high probability trading plan".
Knowledge is good only if applied well. You need not trade everyday. Patience is the key here. Just like the "Crane which waits for the big fish letting go all the small fishes", you need to wait for such good trading patterns that emerge after an extended market at extremes showing divergences and sell into strength and buy into weakness.
You tone down your expectations. If you make 500 out of 10000, try to protect it. And build on it slowly. Skim away some profits. Build your trading a/c slowly.
How many times it has occurred to you that if only I have waited for this moment..So wait..
Get Rich slowly and quietly.

Happy Dussehra

A day of celebrations of good over evil.
We celebrate "Ram's victory over Ravan". And it happened thousands of years ago. And we continue to do celebrations and stopped at that. Only a handful have gone on to fight the good fight to overcome the evil within us. Others simply complain of the evil around us.

Nothing can manifest around you if it does not reside in you.
If corruption is around you, kill the corruption inside you first and the external corruption will come to an end. It would take years but that is "the only way". The impatient one gets nothing done.
If there is ignorance around you, light a lamp of knowledge within you.
"Pick my brain" & don't "pick on me"; and pick up "something" from my observations as well as from the few "seniors" here. Understand firstly that market is dynamic...a continually changing place.
And if you find that difficult, you need to brush up on the basics again & again before entering here.

Stock market is "the most" wonderful place to make money "for the prepared".
And stock market is "the most hellish place" to loose money "for the unprepared".
What are you?
Are you prepared?...prepared with a plan and applying yourself? The measure of your preparedness should reflect in your successes. If there is no success, then you have still not reached that "preparedness".
If you're you not prepared? - Go away, spend good amount of time preparing yourself, while watching the market with detachment but only for study purposes while "saving money for the capital".
Do you find the market difficult to "master", Stay away till you master the market study & its application.
Persons who have no focus would indulge in all kinds of activities except the one that matters the most -"of making money".

Stay focused on the purpose of making money.
Stay prepared.
This is the only way to master your way around to make money. Sportsmen don't whine; they just get on with the next attempt and the next and on & on. They carry on with continuous preparations against the opponents who change everyday and each challenge is faced with a new preparation. Each game is played with gay abandon but with sharp focus and with the seriousness it deserves.
If you do not consider it serious enough, it'll reflect in your results. Rarely a sportman blames another for his defeat. He owns up, reflects on it cool headedly, learns something new and move on more prepared.
Move on.

Get Rich Slowly and Quietly.
Happy Dussehra. May Lord Ram's blessings be showered on you. 

Nifty Pre-Market View.

Beginners as well as those not able to find successful trades:
Knowledge: To make consistent profits from stock market, understand the market first using a simple study such as the Basic technical analysis using Channels, Lead & lag indicators.
Belief: Having studied, have a strong belief in them that they'll produce results.
Discipline-I: With a strong belief, initiate a trade as in God's command written in scriptures.
Patience: Once a trade is initiated, sit through patiently for the price to lead you to the targets/ through the journey while having an ironclad stop loss for any "surprises".
Discipline-II: Remember to part book, once the prices start to move in "your" direction and exit the trades once SL is breached or target is reached or reversal signals are seen.
Caution: As you get closer to the market, eg: in day trading, your level of consciousness and experience need to be high as well as your ability to manage your trades. If you are not qualified enough, do not destroy your capital.
Safety: Instead, go for "Positional trades" based on either a simple TA or JNSAR. Even here, the "close basis" signals are more trustworthy.
Fear: Everyone has fear including the champions and heroes. You deal with fear, only by facing it and you can face it only if you have a strong belief system. Waving mind has no place here.
Greed: Just as fear can bury you, greed can blow you away. Hence, stay grounded by remaining "silent", part booking/ exiting without celebrations.
Holy grail: "Secrecy & Silence" are the two key ingredients for success. Do not fritter away your successes by talking about it. Let making money be your sole aim. Let you believe in your study and act only when the wind is favourable and remaining idle during all other times.
Get Rich Slowly and Quietly.

Nifty Pre-Market View.

Lower highs continues since the peak of 5449.
Last high is @ 5278, the 2 day-high.
This week's high is @ 5296, DHEma.
Strength only above these - 5278-96.
Nifty is @ a critical Daily channel support-5210 below which 5190(61.8%) to take care of any whipsaws.
Channel resistance @ 5260, 34 Hr sma-sustaining above & closing above 5265 would be first sign of strength for a ST reversal.
Trend remains down.
For intraday, use 5234-pivot as a guide.
A professional soldier(not any soldier) would carry out his assignment without judgement.
A professional doctor(not any doctor) would carry out operation with detachment.
A professional player(not any player) would play the game irrespective of who his opponents are.
These and many more professionals in many other fields keep their "emotions" tucked away so that
they can crown the glory and those who don't drown in their failures.
Keep your analytical part separate with contingency plan. Once inside the trading ring, act like "the soldier in the battleground"/"doctor in an operation room"/"player in a field"....focused, not any room for other thoughts. Trade this way for some days...attempt and reflect on it to see the results.
There will be bruises...there will be failures but the victories would outperform all others hugely.
No prayers would help you...No mantras will help you...Only following objectively.

Applied & Objective Technical Analysis - the Basics-II.

Having followed the prices travelling thru' the  Trendlines /  Trend Following  and seeing them break down too, it is time to look at certain other technical studies which help in
understanding the "tiredness/ exhaustion" in the prices with "divergences" besides
their main purpose of "trend Indicator", namely
MACD, the lagging indicator. However, 50% or more of the lag is managed with the use of "Fast Macd". We have shown you here the macd of "Hour Time frame", though the Day/ week/ month are in uptrend.
Correction that unfolds below 5400 should limit itself above 5294, the last pivot low.
FII's have continued their "Buying". But the OI table shows a ST hurdle @ 5400.

Applied & Objective Technical Analysis - the Basics.

Dear Gauresh Panchal....Many, many happy returns of the day.
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Beginners as well as the drifters would do well to focus on these two studies to make their trading life rewarding as well as satisfying. The intention here is to demonstrate that the basics are good enough to deal with the markets efficiently.
Trendlines: Read here
Follow this simple strategy in all your trading/ investing strategies and let it be part of your plan. The tendency to ignore is strong here as it is the "simplest one". One should call it the "supply-demand equilibrium Line". After all, our, traders' job is to exploit the imbalances in demand & supply.
Trend Following: Read Here
This is the oft-repeated statement of most experts in stock market field and oft-ignored by the "hurrying-kind" who outnumbers the disciplined. Change your side soon to become a habituated winner.
How could you have applied these two basic, simple to comprehend strategies in recent times.. and in the coming days? There are minor trends and major trends. For the "glued to the screen trader", even an hour would look like a major trend unfolding.
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Major trend(UP) indicating channel support is @ 5305 while the minor trend (Up by channel/Down by avgs) struggling below 21 & 34 Hr sma.
We'll focus on the Day and Hour to make it simple and easy to follow to
get rich slowly and quietly.

Nifty Pre-Market View.

Self-Reliance by Ralph Waldo Emerson:
To believe your own thought, to believe that what is true for you in your private heart is true for all men, —that is genius. Speak your latent conviction, and it shall be the universal sense; for the inmost in due time becomes the outmost,— and our first thought is rendered back to us by the trumpets of the Last Judgment. 

A man should learn to detect and watch that gleam of light which flashes across his mind from within, more than the lustre of the firmament of bards and sages. Yet he dismisses without notice his thought, because it is his. In every work of genius we recognize our own rejected thoughts: they come back to us with a certain alienated majesty.
Great works of art have no more affecting lesson for us than this. They teach us to abide by our spontaneous impression with good-humored inflexibility then most when the whole cry of voices is on the other side. Else, to-morrow a stranger will say with masterly good sense precisely what we have thought and felt all the time, and we shall be forced to take with shame our own opinion from another.
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The above thoughts of one of the greatest thinkers, Ralph Waldo Emerson, has strong message for the traders/ investors which is "You have it in you. Start believing in your own thoughts, ideas and act. Or else, someone will shame you by giving you the very same ideas of yours."

For Bulls, any corrections should limit itself to golden ratio of "5089" and the 80% @ 5062. For Bears, any rise should limit itself below golden ratio/ recent high of "5133-5141" and the 80% @ 5160.

I still find readers quite fond of expressing their opinions. They are yet to master the art of finding a range to make their trades OR simply follow the "method/ system" except for those "keen & focused readers". Watch your words...it reveals to you whether you're on "hope drips" or in "faith mode" or "simply lost".

If you are determined to make money in the markets,
If you develop the calm temperament to deal with the prices,
If you come prepared with a complete plan for both ups & downs,
If you have faith in your study and obedience to follow it,
The Riches will, sure, come to you, provided you embrace "Silence".

Nifty Pre-Market View.

Suresh Nifty asked: How may quantity you recommend to trade to start with ?? 2 lots or multiple lots??, Is there any method to determine total capital required for 1 lot?
Ans: "To start with" depends on your depth of knowledge and understanding of the market. Assuming you have a good knowledge of technicals, a min. of 2 lots is fine to start with, preferably 3 lots for additional part booking. Do not start to trade if you are hesitant and you are still grappling to understand the markets.
I see some readers making statements like a "pro" but crumble with a small volatility. That is a deep crack in their temperament, understanding as well as their trading plan.
How much capital required for one lot is 50% more than the margin money for a lot. If you can not manage your trades with a 50% plus, you are not experienced enough to take trades.
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5124-44 are the previous two peaks from where nifty had fallen by 100 points each time.
How Nifty deals with this resistance and how much of a correction follows & whether hour trendline is kept intact would reveal the undercurrents.
5065-70 is home to many numbers/ support line/ retracement for the current minor rise from 5042.
EW: Larger "B" in play, form of which is not clear yet.;
Smaller "b" in play, if resisted @ 5124-44;
Or larger "C" in play holding 5042.
Such multiple scenarios call for more alertness or stepping back for more clarity.

Nifty Pre-Market View

Reader: You have given me enormous knowledge, confidence, system etc., of the market which cannot be termed in any thing, Thank you sir! Guruji, With the help of your Blackboard (BLOG) I could now able to understand little bit trend following, impact of different time frames on trend as well as corrections, likely profit booking/targets and reversal.
It seems, I understand that in downtrend intraday rallies are good opportunities for SHORT again & again similarly in uptrend intraday declines are good opportunities for LONG again & again.
However, every time I wait patiently to complete the rally in downtrend and decline in uptrend but I am not able to take position on right point & time. On the contrary I do nothing instead of thinking let it cross this point then again this point, let lead indicator do this or let macd move somewhere and hence, sit idly surpassing one by one candle and on exhaustion of the rally/decline I curse myself for not-acting on time & point. After the exhaustion of the move, I think with pride that my assumption was correct and should have taken the position at the crossover of EMAs or at the low/high of the candle.
What force is acting upon me? I have gone several time through your lesson "trade based on two time frames" taught on Sunday, April 4, 2010 but not able to grasp any thing about the entry criteria /entry point without fear. It may be the spoon feeding, but kindly do the favour for for me. What I have conveyed my difficulty it seems clumsy Sir, please do spare some time at your convenience to guide me about the simple entry criteria / entry point so as to enable me to take the bid confidently.
Answer: About the simple entry criteria/ entry points, you have stated appropriately, "in downtrend intraday rallies are good opportunities for SHORT again & again and similarly in uptrend intraday declines are good opportunities for LONG again & again".

What force is acting upon me? This too has been stated by you, "I do nothing; not able to grasp any thing about the entry criteria /entry point without fear; I think with pride that my assumption was correct". You know swimming but you aren't taking the plunge. We can teach you swimming but can not teach how to take the coldness of the water & deal with  the "feelings" that form in you when you swim...we can teach you cycling but can not teach you how to handle yourself while cycling in different terrains, traffic, etc. There is something no one can teach you is "to feel & face the reality".

Teaching is always done in "laboratory conditions" but acting or application is done in "real situations".
What you are experiencing is a common problem with most intelligent traders. Your intelligence is NOT THE GOAL. Realise it. Shift the goal post from "finding a trading plan" to "Trading the plan". The real "goal post" is "executing the trade plan" and only when you execute your trade, should you pat yourself and the scoring is done.
Till you realise this most important aspect of all life situations that "acting on your study, hunch, intuition alone will bear result and not getting your degree or certificate or finding a plan".

How to take the plunge: Trusting and believing in your intelligence when it works with total objectivity, initiate the trade as though it is the only right & logical thing to do. Act when you should and never after market has acted on it(that would be catching the running train). You have already done enough mental(paper) trades and now its time to execute few actual trades.....not just any trade but those intelligent trades which you are fond of patting yourself up.
Start feeling the "accomplished sense" when a trade is done and move on to the next trade... Take those trades of "selling into rallies" & "buying into declines" using fibonacci retracements even before the "indicators confirm" (Indicators take the cues from prices and hence act on prices and get confirmations from indicators later).

Start communicating with the market with your trades...she'll reward the sincere.
Get Rich Slowly and Quietly.

Nifty PreMarket View

Reader:Please send me Tehnical analysis excel sheet.
Ans: Download the file from the link given at the top right corner of this blog as "JustNifty TA"
Reader: I was trying to find some corelation between TA and abrupt fast fall/rise. Infact I was seeing divergence in the 35D hourly chart , but was not sure as market sentiment was upmove and waiting to break 5338.
On the same line I was wondering to catch some meaningful inference , would it be wise to track 30 minutes and 60 minutes chart in parallel.
I tried to create the same and see the divergence was quite prominent in 30minutes chart.
My query...
Is my inference right or I need to fine tune further.
Is it worth investing time in 30 minutes chart , and derive some moves aligned with higher T/F.
In day T/F , if price doesn't move north on Monday , are we back in CT.
Lastly thanks for creating such a nice excel file , it so awesome .I rely on it .Just I am not able to draw trend line and Chanel there , may be there woud be some option to be explored.
Ans: While you were trying to look for a break-out above 5338, you should have kept an eye on break down below 5310, a point where Nifty took support thrice in 2 days.
Why 30min & 60min TA only? Any T/F would give you points commensurate with the T/F but at the same time whipsaws as well as SL would change as per T/F. Higher the T/F lesser the whipsaw & larger the SL and vice versa.
This CT has more or less failed. We would know today. This correction could get deeper. 5335 & 5265 would decide today. You could draw trendlines in the file.
Reader: Please let me know which system should i use to do intraday trade and positional trade. I have used various moving averages but confused. Plese provide me with some method to earn. If i sell nifty at overbought zone(greed) shown in your chart will it work.
Ans: Read the write ups under the title "Always start trading with these" - at the top right corner of this blog.
Reader: Sir in respect of today’s sharp move whipsawing D-JNSAR as far as 90 points away, what I did is reversed (taken SHORT) @ SAR level in future, but couldn’t revers again to LONG as it was so fast.
As you said - HHEMA indicating possible reversion might have been used but again that would be against D-JNSAR position.
Sir, I need your help in this respect as what one should do in such situation.
Ans: Actually it was fast to create shorts but slow to reverse to longs. As some would observe the 5 min price close, JNSAR-5259 did not trigger. As per our original JNSAR write up, which is followed by Crorepathi, JNSAR short is triggered when prices breached it. It will be managed from today. For those 5-min followers, JNSAR would be 5266 & they may or may not apply filter today.Trading/ closing below HEmas suggest of loss of upward momentum and hence "trading time" until prices closes below LEmas at which point downward momentum would set in.
Reader: You have mentioned 1.41 pm fast rise setup in this hour.In that hour nifty rose. After 2.00 pm fall was so fast.
sir please tell me how to identify the setup with numbers of today, whenever you have spare time in this weekend.
Ans: Please check the Label section for Fast fall/ rise. These are MA(moving averages set ups) suggesting a potential and they fail at times but is managed with "invalidation" point. As per Yahoo intra chart of Friday, breach of 200min Ema @ 5310 was the invalidation point which coincided with the recent support point.
Reader: i have been following your blog for around 4-5 months......i am trying to understand what you teach but the thing which confuse me the most is different time frame like today when mkt broke above 5315 (daily pivot) for the first time hourly stoch was above 90 even though daily had scope for up move , i got scared n didnt buy a call n this is not the first time this has happened to me .....i know this is lack of confidence but it always happens to me if i see hourly OB but daily showing space for up move n i buy a call it falls very fast n i have kept a SL of 500 for any put call taken so i suffer a loss...........so my question is how to over come this different T/F confusion...........i mostly buy put/call looking at hourly chart so it ok if i just look at on hourly n daily T/F and ignore weekly n monthly all together so as to reduce my confusion.
Ans: There is no confusion in different T/F. You are not able to accept the facts. You have too much thinking going on in your head..too much chattering. Your thoughts aren't clear.
If you follow technical analysis, follow it with belief and not with fear. Before you enter your trade, you are mentally dreading that you'll lose the money. With this mind set up, you will make sure, you lose.
Make a very simple small trading plan and start to make smaller gains to gain in confidence. Stop talking about theories/ systems/ methods/ studies, etc. All these are meant to be tools to make money once you understand the market better with such studies.
As you make money, forget about each winnings or even losses (keep them to the minimum). Never get excited about your success.
Reader: I have been following your blog for last 2 -3 months. Its quite impressive,Sir, I am in a big loss, almost having lost 3 Lakhs in share market.
Do you think it is recoverable ? I am in real trouble.
I work in a office so can not get much time to follow the market minutely.
I downloaded your file. There are so many parameters. Sir, following only the JNSAR number and not considering any other (Emas, pivots, Global cues, bank nifty etc) would be good ? Please suggest.
Ans: Firstly, you must remove this thought of recovery. And you must do things differently to achieve different results. Know the market with the use of TA written in this blog (or elsewhere) and if you have belief, enter and if not, save the remaining money. Since you have no time to monitor the markets during the day, follow JNSAR on closing basis and also take trades only in the "Long" sides (Dinesh Rishi Strategy) whenever it happens. I would reconsider restarting "positional strategy" based on week/ Day T/F". Follow them as per Pre-Market only. And Get Rich slowly and Quietly.

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"5327-35" continues to be resistances and weakness starts from below 5291 for selling (Even JNSAR) and the last support for the day is 5200-5215.

Whenever a correction does not terminate at the normal time period and established patterns are mimicked but reversals fails (eg: CT), bears get active.