BraViSa TempleTree-India Market Calls

[d_s_ramesh]

Global markets getting into renewed weakness towards closing, ASIA trading flat, what is in for INDIA? We are likely to open flat too and in the course of the trading session will take direction.

Our daily long trade was not triggered in the previous session, it continues with the short position entered at 5210. Short trade on the hourly chart taken at 5000 spot shall be held with entry stop, we will update short cover as the charts give weakness.

ENERGY & INDUSTRIAL Sectors to take a big hit today. Positive sectors today are CONSUMER GOODS, CONSUMER SERVICES & HEALTHCARE.

 

[d_s_ramesh]

Market opens up converging with the global indices, reaches 5000 and ticks back. We have got an uptick on the 1st bar of the day, which gives us signal to cover swing short. While trend short will hold on. Swing trades please cover short above 5002 spot, on getting filled this trade will be a break even trade and no new position to be taken as the market is out of trend at present.

 

[d_s_ramesh]

move down short cover to above 4991.25 on spot.

 

[d_s_ramesh]

Swing short position gets covered with a close to 10 point gain and there is no trade position now. NIFTY goes sideways on the hourly chart, only after it resumes into a new trend will we have trades.

The present trend gave some wonderful moves and profits too. It is good to keep away when the market is indecisive. This is for swing trades only and our trend short continues till fresh signals come through.

 

[d_s_ramesh]

Trend shorts in play at the moment is open with a small gain after giving back most of its profits. Price is coiling in, it will form a congestion pattern and then break out. Trend positions are stop and reverse, hence we need to wait for further signals.

There is a possibility of keeping off even from trend positions when the broad market moves into a tight coil wind of prices. Markets lack strength on the either side, that is why we are moving into non-trend. Mr. Market has become a toy for the bulls & bears, whoever overpowers will take Mr. Market with them.We shall get aside and watch the ongoing bull/bear fight in peace.

 

[d_s_ramesh]

Bears tried to push the market lower as the session began, once they gave up bulls charged to break the ceiling. Hit hard without any success both are meandering in the middle after losing energy. We can see the bull/bear fight still going on with both of them equally tired.

Who wins and carries Mr. Market aloft is to be seen. It has been an interesting game so far and can only become more & more interesting as time and days unfold.

Our trend short position is still holding ground while non-trend is in progress on the broad level too. With swing trades already stopped, trend signals too follow with it now. We will cover trend short on exit signal and stay away from market till it returns to trend.

 

[d_s_ramesh]

If NIFTY closes above 5006 today, we have to cover our short on trending signal and keep off the markets till next trend sets it. As we write we are witnessing a rally, we need confirmation before exit. Hold to short with stop intact.

 

[d_s_ramesh]

Trending signal changes direction, while charts yet to confirm. Cover shorts and wait for next signals.

Bulls on the winning edge.

 

[d_s_ramesh]

Mr. Market jumped in awe after letting loose from the bear grip. A tight session turned rampant towards close, short covering was very high, too many bears trying to get out from a very small exit.

Damages caused and the next direction will be clear once the daily charts are updated. We will post the same after exchange releases data.

Thank you, trader folks for being with us through this nail biting session. These type of market moves will keep off swing trades for few more sessions.

Trend short trades were closed with a 40 point loss, though Index values do not show that difference, narrowing of discount between spot and futures and rampant short covering rally had very high slippage on exit.

 

[d_s_ramesh]

NIFTY goes long on Hourly

NIFTY faced very high short covering rally towards closing after staying indecisive for almost whole of the session today. NIFTY stayed within previous day's range neither breaching both high and low. Daily charts remain bearish and needs a close above 5060 to change direction. Weekly is in non trend, when the higher time frame is non-trending, whipsaw trades are likely on the lower time frames and that is what we are witnessing for the past few days on the daily chart. The running short trade on the daily has given back more than 50% of its gains from a 415 points peak profit.

Daily chart is in trend that is the reason we have had some good trades in the hourly chart. Though today, even there we have found to have some whipsaws. The spot/ future discount has narrowed to 15 points from more than 30 points, this shows high level of short covering taking place in the market. Not so patient traders are pulling away from the market while the smart money is waiting for direction after booking fat profits.

Bull/bear fight prolonged for almost whole of the session today, towards closing when Bulls defeated the Bears, Bears started running amok for cover and exit. The thrashing was so high that the Index gained big time volatility in the last 30 minutes.

Our short calls on both swing and trend systems were covered today, swing got covered with a small profit, while the trend trade got caught in the melee of the Bull run at close. We had to yield to a huge slippage of above 25 points.

Hourly charts have turned to long trade signal with a very strong rating. Trend positions can be traded above 5031.50 spot with a stop of 4971 on spot. Swing traders need to wait for some more confirmation, once out of trend our system needs more confirmation to trade into a new trend. There may be a lag, but the system trades after confirmation and gets out on the first instance of weakness. Those who have followed our thread in the past week might have noticed it.

This much for our markets today, but as we write we find Global markets still not showing any strength. We would like to note here that, of all the main global markets, our market can be rated the best in performance, we have out crossed China by a vast margin. This is great news for INDIANs. Exchange cheers and celebrate with sweets. NIFTY not being fully in line with the Global peers is an example for this.