Incisive Nifty Trend Analysis

[josh1]

Thank you Josh, your analysis is quite detailed and compelling. Appreciate your efforts.

Thank you Reggie.
However, this time I tried to establish where market will move in long term. That is not good for our bank balance. I should not do that. It is better to stick to identify the trend, stick to trend lines and pivots and trade as per market moves.

Right now market is moving sideways in 5638-5730 range. It is better to go long above it and short below it. Another strategy could be to short near 5730 and go long near 5638 with double stop.
Another thing I observed is that Nifty moves in tandem with Hang Seng instead of DOW 8 out of 10 times. A peek at Hang Seng in the morning gives idea where it is heading.

 

[SEVEN STAR]

why do we trade when there is no profitable trade exist... testing time ..
The fear of loosing out an opportunity to go long or short the market .. that makes us to trade ..It's mind game.
The charts and the levels by experts do they work for any.. consistently to make profit..??
How the market controlled at this narrow range .. who are they..!!..are we getting pulverised by these big hands..
very unfortunate most of the retail players are option traders .. and are the big losers....

 

[NANDAMAD]

Hi Seven Star, how do u get so much information abt market? guide us if you can. Ofcourse u are doing so, a bit more wanted so that we can take decisions
independently. Thanks.

 

[Reggie]

Josh,

To be frank, you charting and analysis was top-notch and professional. You stuck your neck out and gave your analysis, which indeed is commendable. Any trader knows the inference derived from the charts is always a probability and NEVER a certanity (though few fellow traders may disagree with this view) Also, two traders looking at the same chart may hold divergent views, and it is only in the hindsight that the market will prove one to be right. So do continue to post your views on the trends short or long-term. I look forward to it. Thanks again for your efforts.

Thank you Reggie.
However, this time I tried to establish where market will move in long term. That is not good for our bank balance. I should not do that. It is better to stick to identify the trend, stick to trend lines and pivots and trade as per market moves.

Right now market is moving sideways in 5638-5730 range. It is better to go long above it and short below it. Another strategy could be to short near 5730 and go long near 5638 with double stop.
Another thing I observed is that Nifty moves in tandem with Hang Seng instead of DOW 8 out of 10 times. A peek at Hang Seng in the morning gives idea where it is heading.

 

[SEVEN STAR]

Dear..NANDAMAD
I participate in discussions and post my views I have my reservation that any one can make profitable trade by fallowing any experts views

 

[Reggie]

Well said Seven Star,

There is a quote I read somewhere, 'Good decisions come from experience, and experience comes from bad decisions'

What you have experienced and formed as a habit (to not trade when opportunity does not exist, or overcomming the fear of missing out etc) the others (who loose out) too have been given the same opportunity to either learn, adapt and grow or to continue doing the samething, refuse to learn and perish.

The market is a great leveller and a great teacher. Only we need to keep ourself open to its wisdom and learning.

why do we trade when there is no profitable trade exist... testing time ..
The fear of loosing out an opportunity to go long or short the market .. that makes us to trade ..It's mind game.
The charts and the levels by experts do they work for any.. consistently to make profit..??
How the market controlled at this narrow range .. who are they..!!..are we getting pulverised by these big hands..
very unfortunate most of the retail players are option traders .. and are the big losers....

 

[rajasree1]

are we ready for a move ??

 

[josh1]

Bulls tried to take it up at the end of day but failed. Why? Watch the thick trend lines tomorrow. It seems range will not be broken till end of settlement.

 

[321Phani123]

The economy in India is definitely improving and that's the reason Nifty was able to break the crucial resistance of 5450. There was a small trigger in the form of QE3 and the world markets moving up and that helped the Nifty to move up. Now, even the Dow is not able to build on it's rally, Nifty is still showing up. The strength in the economy must be visible in this earnings season. Otherwise, the Nifty will not be able to sustain this ral;ly and will, for sure, come down.

Regards,
Phani

 

[Arsh]

ICICI shares are marginally up, trading at 1088 rupees; the stock has gained 2.7 pct so far in the month of October... The bank posted its Q2 results today beating forecast! Two more results awaited today NTPC and HUL... Lets see how much they impact Nifty :thumb: