Time To Stick My Neck Out "Nifty 5000"

[uasish]

Ha! Mkt denied me entry ,all planing was invain.

 

[uasish]

I am 1 of the Biggest fool in this world,could not smell yesterday's last lap Rally was only a Bear Rally,was more busy yesterday in gloating with joy with my Indus Ind Bank Short,should have initiated a Short yesterday in Nifty,this is what few sporadic wins does,makes complacent .
The Mean Reversion was evident in the chart,however all can say that after looking at the Right side of the chart.

 

[uasish]

1)Many of us are itching to Short;
2)Those amongst us Shorted are itchy for RIL / SBI results;

In this backdrop without charts what is my Logic system telling me.
1) Momentum is DEFINITELY downwards;
2) Nifty created a GAP on Friday (we dont have to revert chart for this),normally in Nifty ; Gaps are filled up;
3)Pivot Rule (as taught & hammered in brain by Saint) is yet to confirm a Downtrend,100% bearish but no confirmed downtrend.
So i will wait & not initiate any Trade in Nifty (other than those already initiated)
There are many stocks on which a Downtrend Sig generated will Trade on those (that also Intraday no overnight positions,unless sufficient cusion)
Lastly if this "Sentiment" in the chart changes,i will then Short Nifty further.

 

[Czar]

To resist the urge to initiate a trade, is a rarity, kudos sir. cause assumption & presumption with lead to our consumption by the market.

I believe the sensex is retesting the trendline break of the highs of 26/4 & 4/6/7, its more prominent in the sensex chart, if we hold here we might see 16K sooner than what cnbc makes us believe

 

[uasish]

Nifty is now above 4500 again.Czar 16k is 450 points now in Sensex.

 

[Czar]

tomorrow we need to gap up & hold the gap (since we stopped exactly on may 06 & dec 06 trendline) for sure shot 16K + if we could retrace the fall (300 points away from all times) this time sensex is more firey than nifty thanks to l&t & gang. the shorts are heavily trapped + Fii's sold more than 5K cr nifty of which 1k covered today, imagine if they cover the rest

if we dont we can kaput again

 

[maxmak]

i think the Fiis pumped up the market but the charts are looking good.
Many shares to buy not many to short !
Makes me wonder, What was done was to buy
Colgate ?
State Bank?
Tisco,
HDFC
IDFC
IDEA
BHEL
ABB
Hindalco
Hindustan Zinc
Sterlite
Bharti
Biocon
Birla corp
India Cement
PFC
at lower prices?
Smart ! Very Smart.
Cheap Prices, Sectoral Rotation.
Profits everywhere !

 

[uasish]

I am skeptical until the Gap is closed in Nifty Fut [gap Area = ( 4570.55 to 4524 )] this move is not valid for me, i will be still on Day Trading basis (no position overnight).

 

[uasish]

After convincingly crossing the Resistance Area i will still have couple of 100 points in Nifty Fut,now for Longs i will have to place SL quite far away,but after crossing that Res area ,for any Long above 4616.20 we will have to place SL nearby,hence my r/r is not ok,i am not going to take home any overnight position ,will still remain on Intraday Mode.

 

[Czar]

If we drop today which now seems more likely (world markets kaput) we will make an identical move to 19/2/7