Chart posted on 2nd September:
Chart updated till yesterday and lines redrawn slightly:
Crossing 5650-60 and sustaining above it gives an unthinkable target
as per this pattern (close to 6000)
Friday, September 6, 2013
Wednesday, September 4, 2013
A Raghuram rally or Lord Ganesha rally coming?
Although the market is in a sell mode on all time frames,
Nifty is flirting around the 200 weekly MA. This made me
take a look at what had happened when Nifty was near the
200 weekly MA the last time, and the results are given below :
(Fundamentals can be debated, but charts cannot be ignored)
Nifty took support at the 200 weekly MA first in December 2011,
when it rallied 24% from a low of 4531 to 5629, and then
fell back to the 200 weekly MA.
INTERESTINGLY, in the last week of May 2012, Nifty made hammers
on 2 consecutive weeks but again came down in the third week
(something similar to what is happening now). The next week,
after making a low of 4770, it rallied over 30% to 6229.
WEEKLY CHART:
The only time Nifty went well below the 200 weekly MA was in
October 2008, when it just sliced through the important support.
The pattern on hourly charts is also very similar, as shown below:
HOURLY CHART IN DECEMEBR 2011 :
HOURLY CHART IN JUNE 2012 :
CURRENT HOURLY CHART (SEPTEMBER 2013) :
This post is not at all about ‘bottom fishing’, but one needs to
keep an on the first signs of reversal.
Who knows, a 15-20% rally might be round the corner.
Going by history, a rally is possible, let people call it the Raghuram rally,
or the Lord Ganesha rally !!
Tuesday, September 3, 2013
Ghajini – Straddles
Unlike previous months, Nifty straddles are all over the place
without giving a clue what they want to do next.
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..................
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