The Starving Trader!

Is India's World Cup Cricket Success Driving the NIFTY Up Through Strong Resistance?

  • Yes! Emotional buying. Market will reverse after the World Cup, irrespective of outcome.

    Votes: 5 38.5%

  • No! Genuine bull run has resumed

    Votes: 5 38.5%

  • Not sure!

    Votes: 3 23.1%
  • Total voters
    13
  • Poll closed .
thestarvingtrader

thestarvingtrader

Active Member
#73
#73
stocks.murtaza said:
i Starving Trader ... Goa to Kolkata .. hmm .. back for Voting .... and the heat :)

Look at Hindalco & Sesa.

Would like your comments on GDL and Gati here - http://www.traderji.com/equities/47979-stocks-keep-close-eye-canteen-546.html#post544045
Click to expand...
Took one look at GDL and the first thing that stood out was the consolidation pattern after the up move and the recent higher highs and higher lows. Should be headed up.

GATI: Also looks to be headed up. At least for a test in the upper 90s. But it doesn't have too far to drop if it does reverse from there.

How's it going anyway good sir? Position trading on the weekly charts, I see?

The Starving Trader
 
thestarvingtrader

thestarvingtrader

Active Member
#74
#74
Looks like a bunch of metals are coming into some good trade-able levels in the coming weeks. More specifically:

  • Silver (mini/micro)
  • Nickel
  • Zinc (mini)
  • Copper

The Starving Trader has setup 5 trades in the metals above as part of Week 1 of his 48 week "Trade or Die" project. You can view the public spreadsheet here: https://spreadsheets.google.com/ccc...DVMQnUwSGRfWGpIYm15b2c&hl=en&authkey=CKadpckO

Click on the "Trade Setups" tab below the spreadsheet to be taken to the setups. Alternatively, you may view the details from the frame embedded in the site too :)

Still waiting for NIFTY F&O account to be enabled :( Dying to trade NIFTY futures and USDINR currency future. Anyone trading the USDINR currency future? Hear volume's picking up on that.

The Starving Trader
 
thestarvingtrader

thestarvingtrader

Active Member
#75
#75
NIFTY OVERVIEW - Express Edition :)

5 Reasons why The Starving Trader thinks NIFTY 4777 is likely in the medium term:

- Monthly Chart: Historic Resistance area is overwhelming the newer buyers. Clearly, sellers remember what happened the last time NIFTY was in the 6000s.
- Weekly Chart: The 23.6% Fibonacci retracement bounce is losing steam. Next stop? You guessed it - the 38.2% Fibonacci retracement, which also coincides with a beautiful area of continued weekly support - at 4777.
- Weekly Chart: The high created by the most recent upward impulse failed to close above the trend line created by the prior reversal highs - A sign of weakness and bearish sentiment.
- Weekly Chart: Inverse head and shoulder's (from 2009) neckline breakout area is around 4700. Will serve as a good test of the Bulls' resolve.
- Daily Chart: Close back below the 89 SMA (not shown above). This will probably switch some big automated rule-based trading programs back to bearish.



The Starving Trader
 
Last edited by a moderator:
E

EagerLearner

Member
#77
#77
linkon7 said:
all TV ANAL-ist are of the view that its time to buy....

so you have the mother of all reasons... for 4777...
Click to expand...
On the contrary, most fiis who come on channels are predicting a sharp correction. Keeping technicals aside, there is too much negativity going around with inflation, rate hikes, GDP slowdown, crude oil. A sharp fall is what everyone is expecting at this point and generally the majority view turns out to be wrong. 4777 would mean around 15% fall which generally happens when there is euphoria of a huge rally or a major economic problem. I dont think the current situation is that bad to get a 15% fall. Again, its just my view and as trader I would love a 15% fall :)
 
linkon7

linkon7

Well-Known Member
#78
#78
EagerLearner said:
On the contrary, most fiis who come on channels are predicting a sharp correction. Keeping technicals aside, there is too much negativity going around with inflation, rate hikes, GDP slowdown, crude oil. A sharp fall is what everyone is expecting at this point and generally the majority view turns out to be wrong. 4777 would mean around 15% fall which generally happens when there is euphoria of a huge rally or a major economic problem. I dont think the current situation is that bad to get a 15% fall. Again, its just my view and as trader I would love a 15% fall :)
Click to expand...
seriously..u have no idea how powerful Aswani Gujral indicator is... when he is on the buy side... market will come down....:lol:

he has his stop loss at 5355... so that will be taken out for sure...!
 
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