NIFTY FIFTY

[vince]

Cool,

to tell u a thing. I really get surprised when people write such things. whats bulls and bears? both of them are in us only. Its we who make bulls and bears. if you go with the trend u r either bull or bear, but if you go against a trend then you are neither a Bull nor Bear but only a Looser.

not to discourage you. its like shifting gears. you should readily jump seeing the direction.
Satya

You've hit it on the head Satya. I would also like to add that one up day does not make a trend or a reversal, in response to all the bullish voices heard today, at least not to me.

 

[rahulg77]

a day at a time for me, as I wrote this morning...no other way to go, whether bulls or bears.
Keep trading small and book out at small targets.

HI amitda,

when u say keep trading small and book out at small targets, in a mkt like this that would require trading in both directions cause buying for small appreciation is very difficult.

Rahul

 

[Saint]

Cool,

to tell u a thing. I really get surprised when people write such things. whats bulls and bears? both of them are in us only. Its we who make bulls and bears. if you go with the trend u r either bull or bear, but if you go against a trend then you are neither a Bull nor Bear but only a Looser.

not to discourage you. its like shifting gears. you should readily jump seeing the direction.
Satya

Very nice,my friend,and how right you are........especially if one is a trader of whatever timeframe.One is bullish when the mkt is bullish,bearish when the market is bearish.Our job as traders is to simply assess the direction of the flow of the market,and then go with it.

Today was a good day for the market,but this one bullish bar is not enough to commit time and funds as yet(if you are a trader).More has to happen to change our outlook.......one has to see how the next few days pan out.

Happy Trading!
Saint

 

[Agilent]

Today was a good day for the market, but this one bullish bar is not enough to commit time and funds as yet(if you are a trader).More has to happen to change our outlook.......one has to see how the next few days pan out.

Happy Trading!
Saint

Absolutely,and this one could be another dead cat bounce ( a record one of course ) which are aplenty in intermediate/primary downtrends

But then again, it could be the resumption of the old bull trend (prompted by Nomura's u-turn on India story ??)

hehe

AGILENT

 

[rahulg77]

Hi ganeshhity,

Sorry the file is more than 100kb and also in PPT format. I do not know how to convert it into a valid format to attach it on traderji. PLs send me your email address and I will email it to you.

rgds

Rahul

 

[AMITBE]

HI amitda,

when u say keep trading small and book out at small targets, in a mkt like this that would require trading in both directions cause buying for small appreciation is very difficult.

Rahul

Hi Rahul...primarily I mean playing the derivatives in both direction in short time frames, and as much as possible to close positions at day's end, especially in futures because of all the gaps at opening, these days.

 

[srisara]

You've hit it on the head Satya. I would also like to add that one up day does not make a trend or a reversal, in response to all the bullish voices heard today, at least not to me.

Vince,

no doubt in what you say. Markets are so volatile you have to jump on either sides of the line in a matter of hours (if not minutes). Well, yesterday so many have shorted today they are deep red (not to say ****).

Especially, for those who trade Futures (which are financial instruments of Destruction), you need to stand on your toes. These are the days of GAP Up and GAP Down Openings and its killing more people than any other natural disaster.

These days you need to watch
1. CNN
2. Nikkie
3. European Markets

Well the list is endless, we react to anything, even a small sneeze from CPI is enough to make markets crash. Its none other than Big Guys playing hard here on us.

Satya

 

[srisara]

Very nice,my friend,and how right you are........especially if one is a trader of whatever timeframe.One is bullish when the mkt is bullish,bearish when the market is bearish.Our job as traders is to simply assess the direction of the flow of the market,and then go with it.

Today was a good day for the market,but this one bullish bar is not enough to commit time and funds as yet(if you are a trader).More has to happen to change our outlook.......one has to see how the next few days pan out.

Happy Trading!
Saint

thanks very much Saint, learnt very hard that Bull and Bear is within us only.
Hope this lesson of Great Bull and Bear Run will make me a good trader for rest of my life.

Satya

 

[AMITBE]

Not a lot should be seen in the big jump yesterday.
Unless one is very sure of what one is doing, do stay out.
A massive rally like we saw, and with some more likely to come ahead, if global cues are to be a signal, the moot question is if such a moves are sustainable.

Without any sideways consolidation in time, and time means an extended period of time, these are merely corrective bounces, so please dont trust them.
Going ahead when the inevitable corrective downwards tug comes again, one only hopes it would be orderly, and in line with retracement laws.
If not, the move will likely seek lower levels than seen already.

And if so, then we can begin to talk of a trading range for consolidation, without vicious moves on either side.
That would create a base for getting on with itthe bull marketby and bymany weeks, if not many months later.

Im bringing a couple of quotes from the past againsame place, different time.

Dec 13:

The levels, should there be a correction 2767-2754 or 2757-2747 are supports.
I'm still in the process of figuring the next turning point for the Nifty and the tentative level suggested yesterday was 2799. This may or may not prove to be it, but still remains the immediate goal to the up.

Well, yesterdays close at 2798.80 is pretty much what we are at, is it not.

Dec 12:

The current leg of the journey form 2643 through 2661 to 2697 though volatile, has come in a most orderly fashion.
Levels to the down were tested and retested for strength and resilience, while the higher levels were taken in gradual probing moves. Intraday volatility wore less and less, giving an indication of things to come.
Then the final burst past 2707 close.

At these levels much would depend on continued flow of liquidity and on buying support from the big players. The bears would be marauding at every new peak. Volatility should be high.
The breadth and depth has improved a great deal and strong mid and smallcaps should see much better participation.
While the signs are clear for an onwards move in the near term, great caution is the rule for buying decisions. Avoid runaway counters and any counter one is not familiar with.

Its an interesting period ahead in the coming days, to revisit the numbers angle again.
2697 was the suggested important corner for the Nifty and it clearly played out its part. The search is for the next such corner now.
2799 is what is coming up tentatively but may be reviewed over the next couple of days.
This is also the near term initial goal.
2822 and 2832 may witness some intense play and prove to be a highpoint.

A lot of what was written back then is true in the immediate term as well.
One the Nifty begins to trade well above 2822, then 2865-2877 would be the immediate goal.
Once there, interestingly the next major turning point then from my data is 2913, which is bang on the nose of the 200 DMA which is what Im watching for closely.

To the up:
2809-2816-2823-2830-2837-2840-2844-2851-2858-2862-2866.

Supports are 2790-2784-2778-2772-2766-2755-2750.
2734 is crucial.

Will update.

 

[vinsu]

Hi ganeshhity,

Sorry the file is more than 100kb and also in PPT format. I do not know how to convert it into a valid format to attach it on traderji. PLs send me your email address and I will email it to you.

rgds

Rahul

Hi rahul ,,
Is the PPT of RJ ? If yes , can you plese send it to me also on [email protected] . Thanks a ton .
Vinsu