Friday, March 6, 2009

Nifty bounces off the S1(2539) after a gap dn & rallies after the persisitent +ve div..

Inspite of weak world mkts, Nifty which was in "OS" region with +ve div, rallied from the opening low(The S1 support of the Pivot table)with improved volumes.

As mentioned earlier, pick up the stocks of your choice on such panic lows.

For trading, various time cycle channels & the Tech table with the pivots, Supports & resistances should be of immense help. Today the lowest closes of 2524 & 2550 & S1 for supports and a resistance at Pivot-2601(Which got resisted briefly) and then the 5 day low ema(2624)and R1(2639) and mkt touched 2628.These are trading times and as the +ve div persisted & being at the bottom, you get a powerful bear rally.

For Monday, US/Asian mkts should give us some clues to the direction. Daily at the bottom, weekly firmly down. 2640-2660 is a strong resistance area. With 2 holidays on Tue & wed, trade light.







Monday, March 2, 2009

Reliance Chart for a reader..

Weekly macd turns down at the zero mark and the pattern resembles a continuation of the fall, the last speculative one, the 5th down.

Daily macd turns down below the trigger and in the negative zone. A fall below 1140 will result in breaking of the triangle pattern towards/below the earlier lows. A rise above 1350 will be bullish.

Hourly shows the last upward channel breaking down and then pulling back towards the channel & fall resuming. This fall has impulsive 5 sub waves. A move below 1200 will accelerate the fall. If any + ve cues, it can rally back upto 1320 and then may resume the downmoves.
It is a sell on rallies upto 1320 with a SL 1350. Watch its price behaviour around 1140 area.

Nifty closes below the critical "2730", now the next critical "2650-2660"..!!!

Nifty gapped down below the critical "2730" and also closed well below that. The daily trend which was just about managing to stay in uptrend has decisively turned down. Now all time cycles are in downtrend.
The last critical level is "2650-2660". Below that more falls can be expected.
Nifty stayed at S2-2681 for most of the day and broke through that in the afternoon signaling bearish trend. And closing below 5 day low ema confirmed it.





Sunday, March 1, 2009

The Power of Infinite Patience.

The Sufi Poet Rumi wrote a poem almost a millennium ago, called "The Seed Market" that reflects a consciousness required to manifest abundance..

Can you find another market like this?
Where,
with your one rose
you can buy hundreds of rose gardens?
Where
For one seed
you get a whole wilderness?
For one weak breath,
the divine wind?
You have been fearful
of being absorbed in the ground,
or drawn up by the air.
Now, your waterbead lets go
and drops into the ocean,
where it came from.
It no longer has the form it had,
but it's still water.
The essence is the same.
This giving up is not a repenting.
It's a deep honoring of yourself.
When the ocean comes to you as a lover,
marry, at once, quickly,
for God's sake!
Don't postpone it!
Existence has no better gift.
No amount of searching
will find this.
A perfect falcon, for no reason,
has landed on your shoulder,
and become yours.

The Power of Infinite Patience:
"Those who are certain of the outcome can afford to wait, and without anxiety". When that certainty is manifested in you in the form of trust and a knowing, you can then turn away your thoughts away from the desired outcome. Your knowing and your infinite patience put you at ease.
When we become impatient, we literally devalue ourselves and our connection to the Divine.
One of the ways to develop patience is to contemplate how patient God has been with you. When you were in times of denial, or self-abuse or self-absorption or hatred, God was infinitely patient. This is the same kind of patience that you want to develop. When you let go off impatience, you align yourself with the God force and all the anxiety is gone. Anxiety produces fear, self-pity and attaches you to time. You become free when you relax your insistence to have it now.
This practice of patient detachment from outcome is a foreign concept to those of us who have been taught that goals, success symbols and the accumulation of merit badges are the ways to feel important and fit into our culture. You have achieved peace with your infinite patience, and peace is what enlightenment is all about.

Once you perfect the infinite patience you will demonstrate your trust in something other than your own limited body/mind, and you will peacefully allow your desires to manifest in their own good way, in their own good time.

Excerpted from "Manifest your Destiny" by Dr.Wayne W.Dyer.(A must read)

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....