NIFTY FIFTY

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AMITBE said:
You seem to have a penchant for these nicks...Baron, Czar...What's up?

Er...but now you're sounding like Rasputin, eh? :eek:

Any way, for those interested to know more about TS Eliot's Mcavity the cat, from where came the inspiration for the Ragdoll, here's the great poem.

There's of course no similarity between our Ragdoll, (who again got a savage mauling at open, and a playful fling skywards at close), and Eliot's imperishable Mcavity. :)

Macavity: The Mystery Cat

Macavity's a Mystery Cat: he's called the Hidden Paw -
For he's the master criminal who can defy the Law.
He's the bafflement of Scotland Yard, the Flying Squad's despair:
For when they reach the scene of crime - Macavity's not there!

Macavity, Macavity, there's no one like Macavity,
He's broken every human law, he breaks the law of gravity.
His powers of levitation would make a fakir stare,
And when you reach the scene of crime - Macavity's not there!
You may seek him in the basement, you may look up in the air -
But I tell you once and once again, Macavity's not there!

Mcavity's a ginger cat, he's very tall and thin;
You would know him if you saw him, for his eyes are sunken in.
His brow is deeply lined with thought, his head is highly domed;
His coat is dusty from neglect, his whiskers are uncombed.
He sways his head from side to side, with movements like a snake;
And when you think he's half asleep, he's always wide awake.

Macavity, Macavity, there's no one like Macavity,
For he's a fiend in feline shape, a monster of depravity.
You may meet him in a by-street, you may see him in the square -
But when a crime's discovered, then Macavity's not there!

He's outwardly respectable. (They say he cheats at cards.)
And his footprints are not found in any file of Scotland Yard's.
And when the larder's looted, or the jewel-case is rifled,
Or when the milk is missing, or another Peke's been stifled,
Or the greenhouse glass is broken, and the trellis past repair -
Ay, there's the wonder of the thing! Macavity's not there!

And when the Foreign Office find a Treaty's gone astray,
Or the Admiralty lose some plans and drawings by the way,
There may be a scrap of paper in the hall or on the stair -
But it's useless to investigate - Mcavity's not there!
And when the loss has been disclosed, the Secret Service say:
`It must have been Macavity!' - but he's a mile away.
You'll be sure to find him resting, or a-licking of his thumbs,
Or engaged in doing complicated long-division sums.

Macavity, Macavity, there's no one like Macavity,
There never was a Cat of such deceitfulness and suavity.
He always has an alibi, and one or two to spaer:
At whatever time the deed took place - MACAVITY WASN'T THERE!
And they say that all the Cats whose wicked deeds are widely known
(I might mention Mungojerrie, I might mention Griddlebone)
Are nothing more than agents for the Cat who all the time
Just controls their operations: the Napoleon of Crime!

Hi Amitda !!

Gr8 read as always...
gud 2 hv nice things arns specially when the mkts aren't that nice. :)

cheers
vizzie
 

pkjha30

Well-Known Member
adilsaleem said:
Hi Amit
Just a quick question, Is it time to short sell or stay out , i mean are we looking at a lower level from here in the coming months?
Hi

Message is Clear. Either watch National Geographic Special on Wild Dogs or possibly Cats or else read poetry. The full power of FIIs are yet to be revealed. Those bearlings (hope you are not one trying to make a quick buck in a falling? Market) wanting to short would be on the next menu of FIIs.

Wait till things become clear. As Amit would also have advised. I presume.

Pankaj :)
 

AMITBE

Well-Known Member
The sun is shinning forth across the world this morning.
Uncle Sam received a booster last night.
Emerging markets closed well.
Asia/Pacific is blazing.

In our own backyard, the killer dog cuddled and bonded with Ragdoll at close last night.

Not quite from the dog family, though a sound alike is one kind commonly known as the underdog.

And who might that be?

You Said It:

Yes. Its us.

Meaning the great cartoonist RK Laxmans aam admi, the commoners.

What irony.
While the world is swooning high, were still pale and shaken, and we dont know which way to go.

Id say be patient and enduring.
The market is not about to disappear, much less turn around.
We have just broken down from a strong up trend most violently.
The resumption of a new trend has NOT given a signal yet.
We will see some reflex rallies in either direction yet.
And for those who believe that volatility is behind us with the end of the May series, no, I dont believe so.
Yes, a rally is coming up but dont be lured in except for the short term, and I mean the really short term.
Try not to carry positions over the weekend.

The levels to the up:
3181-3184-3188-3192-3195-3199-3202-3205-3209-3214-3223-3226-3230-3233-3237.
Will revise later.

Support line is 3174-3168-3165-3162-3159-3156-3153-3150-3146-3142-3138-3134.
Will revise this too.
 
hello amitbe,

Really great writeups by you. A nice inside bar set up has formed on the nifty chart. A break out from either side could give next week's trend.To the down 200 day ema might offer strong support and strong resistance to the up by 50day ema.

regards,
gvnarendra.
 

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AMITBE

Well-Known Member
gvnarendra said:
hello amitbe,

Really great writeups by you. A nice inside bar set up has formed on the nifty chart. A break out from either side could give next week's trend.To the down 200 day ema might offer strong support and strong resistance to the up by 50day ema.

regards,
gvnarendra.
Thanks gvnarendra for the chart, and I agree with you.

For now the Nifty is likely to meet with resistance at around the 3253-3257-3262. Above this it may test 3272-3277. Let's see how it holds.
To the down, slipping below 3225 would render it weak.
 
AMITBE said:
Thanks gvnarendra for the chart, and I agree with you.

For now the Nifty is likely to meet with resistance at around the 3253-3257-3262. Above this it may test 3272-3277. Let's see how it holds.
To the down, slipping below 3225 would render it weak.
Sir,with due respect,i feel that holding or closing above 3290 wud signal a position of strength.
Do u feel the same thing.
At 3278 now.
Thanks
 

pkjha30

Well-Known Member
AMITBE said:
The sun is shinning forth across the world this morning.
Uncle Sam received a booster last night.
Emerging markets closed well.
Asia/Pacific is blazing.

In our own backyard, the killer dog cuddled and bonded with Ragdoll at close last night.

Not quite from the dog family, though a ‘sound alike’ is one kind commonly known as the ‘underdog’.

And who might that be?

You Said It:

Yes. It’s us.

Meaning the great cartoonist RK Laxman’s ‘aam admi’, the commoners.

What irony.
While the world is swooning high, we’re still pale and shaken, and we don’t know which way to go.

I’d say be patient and enduring.
The market is not about to disappear, much less turn around.
We have just broken down from a strong up trend most violently.
The resumption of a new trend has NOT given a signal yet.
We will see some reflex rallies in either direction yet.
And for those who believe that volatility is behind us with the end of the May series, no, I don’t believe so.
Yes, a rally is coming up but don’t be lured in except for the short term, and I mean the really short term.
Try not to carry positions over the weekend.

Hi :D

Finally Amit has taken to poetry as duck takes to water.Jaideep has some serious competition now.

It made a nice reading though full of omens good and bad yet to come.

I agree with you conclusion, not that it matters, but to put on record that the conclusions are shared by a wide range of readers.

NKP in his own inimitable style has come to a conclusion similar to this.

And the same thing I have been telling also. That makes us three musketeers in the eyes of Baron ...( Munchausen.. 1988) now the civilised rusky . :D


Pankaj :D
 

AMITBE

Well-Known Member
amitt29 said:
Sir,with due respect,i feel that holding or closing above 3290 wud signal a position of strength.
Do u feel the same thing.
At 3278 now.
Thanks
Hi amitt29, yes of course, and closing even above 3237 would be a mark of strength.
This is one of my long range turning points.
However, pay more attention to the bigger picture too.
The Nifty as I've seen gets flung on either side of these levels.

Regards.
 
hi amitbe,

Wanted a confirmation from you.Is the pattern forming on the attached chart an inverted flag? It is now near 50 bar ema in 1hour chart.If it is target area for this pattern is around 2300-2350!!
hope it is not.

thanks,
gvnarendra.
 

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AMITBE

Well-Known Member
gvnarendra said:
hi amitbe,

Wanted a confirmation from you.Is the pattern forming on the attached chart an inverted flag? It is now near 50 bar ema in 1hour chart.If it is target area for this pattern is around 2300-2350!!
hope it is not.

thanks,
gvnarendra.
Hi gvnarendra...it's sure a bear flag by the looks of it.
Yes, I too hope it gets negated in due course, else!! :eek:
Track it close and do update please.
Thanks!

Ah...and as for today, please don't get lured in by the rise in Nifty.
It can just take a big dump too.
Extreme caution.
 
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