Trading with PT style

[aditya14]

S&P is testing 1105 if broken you can see a spurt upward and Diwali on monday and same with DOW.

 

[aditya14]

Here we go

 

[aditya14]

make or break time

 

[findvikas]

I am also expecting Diwali kind of selling, I would love to be wrong and either direction does not harm me.. but I have little contradictory view from majority at this crucial juncture and we MUST cross 5195 in coming days (max by Tuesday) to complete an inverse H&S which can take us well above 5400.. may be 5425-5430

.. but before that all happens it will face strong resistance at 5168 above that it will take rest at 5290 and then finally 5500

16 May 2008 - 5168
02 May 2008 - 5290
05 Feb 2008 - 5500

See this chart.. (last 2 bars are imaginary and if market goes in favor of bulls then it might look like this)

Although, FII & DII have withdrawn most of their money in past couple of days and today both were net sellers in F&O while DII stayed net seller even in cash. Not necessarily that means negative.. that could be a positive with a small positive trigger from outside. As all this cash pulled outside is sitting idle and due to the nature of cash it cannot sit idle for longer period.. they might take market for a dip on Monday without volume as its below 5115 level.. and then accumulate till 5090.. which they did today as well and then push it above 5168 with great volume to break all resistance where I will buy 5300CE


Edit:

Another few bearish signs from global markets.

The candles show reversal patterns – evening stars (Dow and SPX) and bearish engulfing patterns (NDX, COMPX, RUT). Bearishness in all major US indices.
If that's not all USD formed a bullish hammer pattern. OBV is neutral to slightly bullish short term for the S&P (which is probably due to the index being containing a significant number of oil stocks), but it is neutral to bearish for all other major indices. It is especially bearish for the Russell 2000 for which it shows clear distribution since late September. I would not be surprised to see the Russell 2000 drop to the low 500s in the next few weeks…


Disclaimer: I am not bear nor bull... I am spectator and will act as lion when required

 

[aditya14]

I am also expecting Diwali kind of selling, I would love to be wrong and either direction does not harm me.. but I have little contradictory view from majority at this crucial juncture and we MUST cross 5195 in coming days (max by Tuesday) to complete an inverse H&S which can take us well above 5400.. may be 5425-5430

.. but before that all happens it will face strong resistance at 5168 above that it will take rest at 5290 and then finally 5500

16 May 2008 - 5168
02 May 2008 - 5290
05 Feb 2008 - 5500

See this chart.. (last 2 bars are imaginary and if market goes in favor of bulls then it might look like this)

Although, FII & DII have withdrawn most of their money in past couple of days and today both were net sellers in F&O while DII stayed net seller even in cash. Not necessarily that means negative.. that could be a positive with a small positive trigger from outside. As all this cash pulled outside is sitting idle and due to the nature of cash it cannot sit idle for longer period.. they might take market for a dip on Monday without volume as its below 5115 level.. and then accumulate till 5090.. which they did today as well and then push it above 5168 with great volume to break all resistance where I will buy 5300CE


Edit:

Another few bearish signs from global markets.

The candles show reversal patterns – evening stars (Dow and SPX) and bearish engulfing patterns (NDX, COMPX, RUT). Bearishness in all major US indices.
If that's not all USD formed a bullish hammer pattern. OBV is neutral to slightly bullish short term for the S&P (which is probably due to the index being containing a significant number of oil stocks), but it is neutral to bearish for all other major indices. It is especially bearish for the Russell 2000 for which it shows clear distribution since late September. I would not be surprised to see the Russell 2000 drop to the low 500s in the next few weeks…


Disclaimer: I am not bear nor bull... I am spectator and will act as lion when required

S&P futures ended at 1108.10 and thats quite bullish above 1105 we will see rally next week 110% sure now.I mean look bears have tried lot of times and the market goes towards supports and theres a lotta buying which comes in.

Case in point:

Nifty 5080 spurted upwards multiple times.
S&P 1090 again spurted back up.
Ftse,CAC show me any index which saw a break of any key support.

Nifty has closed this week 3% up now if thats a bearish indicator I`ll take that and say thank you.We were one of the few indexes which didn`t rally on Friday.Now next week will be Bear beating time.

If you have any doubts Ask Savant Garde Sir or look at the pivots which have turned extremely bullish.

We had much worse chart patterns in March09 and look what happened.

 

[raj001]

S&P futures ended at 1108.10 and thats quite bullish above 1105 we will see rally next week 110% sure now.I mean look bears have tried lot of times and the market goes towards supports and theres a lotta buying which comes in.

Case in point:

Nifty 5080 spurted upwards multiple times.
S&P 1090 again spurted back up.
Ftse,CAC show me any index which saw a break of any key resistance.

Nifty has closed this week 3% up now if thats a bearish indicator I`ll take that and say thank you.We were one of the few indexes which didn`t rally on Friday.Now next week will be Bear beating time.

If you have any doubts Ask Savant Garde Sir or look at the pivots which have turned extremely bullish.

We had much worse chart patterns in March09 and look what happened.

good morning... too much ot technicals in tukka trade.... lage rahooo

 

[praveen taneja]

I am not tracking DOW or any other global market per say.. I have this view since past couple of days.

Die Hard Bhaalu:rofl::rofl::rofl::rofl:

 

[praveen taneja]

i agree with u , i also see market up next weekend , market is close to resistance level and i such cases , this kind of confusion is obvious . market range for last 3 days i very less and it will make a sudden rise and will break 5181 and 5200 for going towards much higher levels (i hope 5600). falling of market may be due to profit booking at higher levels due to resistance but hoga wahi jo koi expect nahi karega .

True bro mostly expectecting a crash or high move par hoga wo hi sideways between 5180-5090 range with that operator will eat premium in options and play in nifty will give them good money
Now daily circuit in small cap means retail investor again entering to buy good gain like earlier at 17k breaking 5200 hard but not impossible as there are few long and short remain in system all on causious approch now:thumb:

 

[aditya14]

True bro mostly expectecting a crash or high move par hoga wo hi sideways between 5180-5090 range with that operator will eat premium in options and play in nifty will give them good money
Now daily circuit in small cap means retail investor again entering to buy good gain like earlier at 17k breaking 5200 hard but not impossible as there are few long and short remain in system all on causious approch now:thumb:

I have put on an Iron Condor myself.But its really risky.

 

[praveen taneja]

Traders should wait for Nifty to close above 5,200: Anagram
Traders should wait for a close above 5,200, before committing fresh resources continues, said brokerage house Anagram while opining on the trends of equity markets for the day.

Leveraged bullish positions should be squared off or a stop loss must be put in the systems.