Unlike previous months, Nifty straddles are all over the place
without giving a clue what they want to do next.
Tuesday, September 3, 2013
Will this Inv H & S work in these war times?
If 5335 is held on close, an Inverted Head and shoulder is possible
CRYSTAL BALL GAZING – TATA STEEL
If Tata Steel cannot cross 293, and drops to 255-265,
BUY it with sl 250
Monday, September 2, 2013
‘Kya se kya ho gaya’ stock - Educomp
1000 to 17.5 in less than 4 years !! A bounce coming?
Above 19, with a sl near 17, can go to 27 and
close above 28, can go to 40
Bank Nifty futures
BankNifty futures has given a breakout from a parallel channel.
Hold longs with today’s low as SL
Delivery pick
BAJAJ HINDUSTAN
Bajaj Hindustan – Buy on dip with sl below 12;
Book partial near 16-17, and hold rest
Tuesday, July 23, 2013
How Traders Carnival (#TC2013) can be useful to you
Traders Carnival 2013 is being held in Pune from 15th to 17th August.
It is a 3-day residential conference, where traders from all over the country and some from abroad will be attending.
More details can be seen at www.traderscarnival.com
I have been asked the question quite a few times; ' Is it for me?"
As long as you are trading in the stock market or even in the commodity market, YES, this carnival is for you.
Some traders are under the impression that they will be a misfit, and might not understand anything. That is certainly not the case.
Anyone who is into trading, be it part-time or full-time, has learned something from the supreme teacher "Mr. Market", and it is this that he/she brings to the table there.
The market teaches everyone a different lesson, and humbles you. There is no one in the entire world, who has made profits right from his / her first trade and is still making huge money continuously. There is always something more to learn.
The beauty of this carnival is, one will get to meet and rub shoulders with 120+ fellow traders from the age 25 to 60. Every single person has learnt lessons from the market, and will be sharing that 'lesson' with others, be it as a speaker or just a participant.
There will not be a single trader there who can claim to 'know all'. That cannot happen !!
If you wish to learn from the experience and mistakes of others, this is THE place for you.
Just imagine, if you miss this, there will be some experiences which you will never be able to listen in your life.
However, if you feel after attending this carnival, you will start making potful of money from the day you return home, the answer is a BIG NO !
What suits someone might not suit you. But, you will certainly get different ideas, and will be able to decide which one can benefit you, which one needs a bit of tweaking at your end, to suit your temparament.
So, if you dream of becoming a successful trader, please register at
www.traderscarnival.com.
See you there..................
It is a 3-day residential conference, where traders from all over the country and some from abroad will be attending.
More details can be seen at www.traderscarnival.com
I have been asked the question quite a few times; ' Is it for me?"
As long as you are trading in the stock market or even in the commodity market, YES, this carnival is for you.
Some traders are under the impression that they will be a misfit, and might not understand anything. That is certainly not the case.
Anyone who is into trading, be it part-time or full-time, has learned something from the supreme teacher "Mr. Market", and it is this that he/she brings to the table there.
The market teaches everyone a different lesson, and humbles you. There is no one in the entire world, who has made profits right from his / her first trade and is still making huge money continuously. There is always something more to learn.
The beauty of this carnival is, one will get to meet and rub shoulders with 120+ fellow traders from the age 25 to 60. Every single person has learnt lessons from the market, and will be sharing that 'lesson' with others, be it as a speaker or just a participant.
There will not be a single trader there who can claim to 'know all'. That cannot happen !!
If you wish to learn from the experience and mistakes of others, this is THE place for you.
Just imagine, if you miss this, there will be some experiences which you will never be able to listen in your life.
However, if you feel after attending this carnival, you will start making potful of money from the day you return home, the answer is a BIG NO !
What suits someone might not suit you. But, you will certainly get different ideas, and will be able to decide which one can benefit you, which one needs a bit of tweaking at your end, to suit your temparament.
So, if you dream of becoming a successful trader, please register at
www.traderscarnival.com.
See you there..................
Sunday, June 30, 2013
My thoughts on the indices after the week ending 28th June
After making a low near 5477, Nifty made a new high near 6229, and it appears now that it has made a 'higher low' near 5566. Nifty as well Sensex have respected the rising uptrend line from June 2012, and that line remains crucial for the long term. In the last 2 days, Nifty has rallied very fast by almost 225 points from the low on Thursday.
Short term charts have given a strong reversal, and although my long term view (see previous post below), is of a sideways market between 4000-4200 and 6000-6200 for another couple of years, the short term trend remains UP, and it has become a 'buy-on-dip' market.
The hourly charts are now overbought, and there might be some cooling off in the next couple of days to perhaps 5770 and maybe even 5730. As long as Nifty does not break 5675 (spot) in the next few days, one needs to stay LONG, for much higher targets.
The resistances are 5860-65, and then 5935-70. Die-hard (perma) Bears can use these levels to try shorts near these levels (SL being a close above those levels).
If Nifty closes above 5975, I see another huge resistance near 6010 - 6075.
Only on a close above 6090, can we look for new highs to maybe even 6250, but I will be careful with longs above 6000.
Nifty weekly chart :
Sensex weekly chart (it is always better to also keep an on Sensex levels mentioned below) :)
Short term charts have given a strong reversal, and although my long term view (see previous post below), is of a sideways market between 4000-4200 and 6000-6200 for another couple of years, the short term trend remains UP, and it has become a 'buy-on-dip' market.
The hourly charts are now overbought, and there might be some cooling off in the next couple of days to perhaps 5770 and maybe even 5730. As long as Nifty does not break 5675 (spot) in the next few days, one needs to stay LONG, for much higher targets.
The resistances are 5860-65, and then 5935-70. Die-hard (perma) Bears can use these levels to try shorts near these levels (SL being a close above those levels).
If Nifty closes above 5975, I see another huge resistance near 6010 - 6075.
Only on a close above 6090, can we look for new highs to maybe even 6250, but I will be careful with longs above 6000.
Nifty weekly chart :
Sensex weekly chart (it is always better to also keep an on Sensex levels mentioned below) :)
Saturday, June 8, 2013
Why I am not in favour of a runaway bull run yet
Most of those who read my tweets will be aware that I start looking for tops and opportunities to go short whenever Nifty goes near 6100 and above. This belief that our market is not yet going to run away comes from a long term chart of Sensex (Nifty came much later, hence the study on Sensex).
The yearly chart of Sensex is the reason for my bearishness at the levels mentioned above.
Although I believe in the science of 'waves' I do not think I have the expertise to apply the study on our charts.
However, in my view, even a simple longer term view of the same charts, gives a different picture than just studying short term charts.
To keep it simple, Sensex might be showing a period of consolidation in a broad range.
Those following Nifty alone might be under the impression that it gave a breakout when 6181 was crossed (that was the January 2011 high). However, high of Sensex in January 2011 was 20664.8 and the high in May was 20443.6, which means Sensex DID NOT give a breakout.
This is the reason I feel, our market is in a mode of consolidation similar to what it did from 1992 to 2003.
Whether this will take that much time, is not possible to say, but if one believes in the 'consolidation phase', our market needs to go and test the lower band of the broader range (4000 to 6200) over the next quarters.
Yearly chart of Sensex:
The yearly chart of Sensex is the reason for my bearishness at the levels mentioned above.
Although I believe in the science of 'waves' I do not think I have the expertise to apply the study on our charts.
However, in my view, even a simple longer term view of the same charts, gives a different picture than just studying short term charts.
To keep it simple, Sensex might be showing a period of consolidation in a broad range.
Those following Nifty alone might be under the impression that it gave a breakout when 6181 was crossed (that was the January 2011 high). However, high of Sensex in January 2011 was 20664.8 and the high in May was 20443.6, which means Sensex DID NOT give a breakout.
This is the reason I feel, our market is in a mode of consolidation similar to what it did from 1992 to 2003.
Whether this will take that much time, is not possible to say, but if one believes in the 'consolidation phase', our market needs to go and test the lower band of the broader range (4000 to 6200) over the next quarters.
Yearly chart of Sensex:
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