BraViSa TempleTree-India Market Calls

[d_s_ramesh]

Market keeps attracting higher high on every moving hour. Trend long trades hold on to long positions as the trend is going strong.

Swing traders who have exited their positions and are watching the market gaining need not frown. No one can pin the market on its tops and bottoms. Swing trade is a strategy to exit on the first weakness and re-enter at a favorable level. Many a times this favorable level does not come.

Trading both swing and trend srategy would give an added advantage to get some additional points. As we said in our pre market post, every move up on the index is adding strength to the bearish divergence on the hourly charts. The narrow range move of the market today is an added advantage for daily shorts in the next session.

 

[d_s_ramesh]

Another higher high and reaching close to 5100 resistance. Averages are fast catching up with the price moves. EMA now at 5034 has locked 120+ points on the trending long position which is open now.

Upticks on NIFTY is not to be seen even when higher high's are reached. This confirms that the markets is struggling, moreover with both major global markets closed fpr holiday, there is no direction for us to move.

Swing traders need to wait for a pull back to 5035 levels before any long signal to trade comes.

 

[d_s_ramesh]

As markets tried moving lower, it fell shy of value zone by a few points. Unless price moves below vlues zone we do not have a new long trade opportunity. While trend trade is enjoying its bullish ride with a 176 points peak gain.

Value zone now at 5038-5002.

 

[d_s_ramesh]

Now that the value zone is punctured and NIFTY pulls up marginally, trade long on a new swing long trade above 5071.25 spot. Stop below 5010 spot. Trade only above the stipulated value, it trade is not filled wait for next signals.

Trend trade also has started gaining some weakness in its power, hold on till reversal.

 

[d_s_ramesh]

New trade on swing long filled, hold with stop. Market has given good recovery towards closing. Position needs active monitoring.

 

[d_s_ramesh]

Last 30 mins registered good gains for NIFTY which fell short of few points from its 5100 resistance. Our Trend trade has gained with 186 points peak profits, while the new swing long trade too has closed positive by17 points.

A dull trading day, wakes up the bulls from sober on the last hour. Bulls need to be on toes as only news based sentiments will hold the markets at the opening in the next session. There is possibility for renewed volatility.

 

[d_s_ramesh]

Daily NIFTY turns Bullish

Todays up close on the Index has reversed the present bearish market into a bullish one. While the market is in trend, trading the slope of the EMA is the rule. Hence, short positions on the Daily charts shall be reversed above todays high of 5097.50. 5100 stands a good resistance on the move up, market moving above this resistance is crucial for the continuation of bullishness. Weekly chart too turns bullish with the breach of previous weeks high of 5077.25 today. With both hourly and weekly in the bullish side, it is natural for the Daily to follow.

The last hour gains on the Index turned the Hourly chart into uptick again. Now we will wait for next down tick to exit our new swing long position, while our trend long is doing fantastic with a peak gain of 186 points. Though this is not actual booked profit, EMA at 5015 gives support and also locks above 100 points gains in the trending long position. Hold on to long trades until there is a reversal.

 

[columbus]

Re: Daily NIFTY turns Bullish

Todays up close on the Index has reversed the present bearish market into a bullish one. While the market is in trend, trading the slope of the EMA is the rule. Hence, short positions on the Daily charts shall be reversed above todays high of 5097.50. 5100 stands a good resistance on the move up, market moving above this resistance is crucial for the continuation of bullishness. Weekly chart too turns bullish with the breach of previous weeks high of 5077.25 today. With both hourly and weekly in the bullish side, it is natural for the Daily to follow.

The last hour gains on the Index turned the Hourly chart into uptick again. Now we will wait for next down tick to exit our new swing long position, while our trend long is doing fantastic with a peak gain of 186 points. Though this is not actual booked profit, EMA at 5015 gives support and also locks above 100 points gains in the trending long position. Hold on to long trades until there is a reversal.

Just keep in mind we gained 4 days in a row.

 

[d_s_ramesh]

There has been occasions of a 5th up closing day too. We follow the trend and the trading system. Adding too much discretion will divert our trades, lets not be biased. Caution is required for any trade, the same way if there is a reversal we should change our trade direction accordingly.

If the tide is changing what is the fun in trying to go against it, today's chart patterns and indicators direct long positions. Our system is a trend following system and there may be lag in the signal. But in the long run, being with the flow benefits a lot and needs very less effort. It counts more on discipline.

Nothing is a hard and fast rule, traders are at their discretion to make their own decision using the inputs provided here. We would like to share our gains this month on following a simple trading system of trend following and swing trading. Both the systems have between them gained 650 points profit after commissions for the month of May 2010, this is not including the positions open at the time of this writing. These gains were only from the Hourly charts for which we have been actively giving online signals and comments here.

We do not boast of a 100% winning system, but we have proved that following a system with rigidity has given above average returns. In the end it is performance that matters.

 

[d_s_ramesh]

Sector summary for 31-5-2010

5 Sectors between them have gained above 1% each today with ENERGY leading by 1.72% followed by INDUSTRIALS moving up 1.65%. ENERGY gains come from a 2.10% gains on the Oil & Gas producers Industry group. CAIRN, GSPL and ONGC have gained above 3% today. On the INDUSTRIALS Sector it was Transport, Trading and Diversified Industries groups that gained big. Transport gains by more than 4% on its index. Diversified Industries group has VOLTAS & SINTEX with an above 4% gain, while 3MINDIA has gained a whopping 6.8%.

The only sector that has closed negative today is TELECOM with a 0.43% loss on its index value. Losses from the Telecom Equipment Industry have pulled down the Index. AVAYAGLOBAL with a close to 8% loss on its share value has single handedly pulled this Index down. The Stronghold SIEMENS has lost 1.5% of its value.