Trading with PT style

[praveen taneja]

Trusting in God won't make the mountain smaller,
but makes the climb easier,
Do not ask God for lighter load,
but ask him for a stronger back.

 

[praveen taneja]

Inflation at 0.7% vs 0.83% last week

 

[praveen taneja]

Mukesh Ambani on tv clarifying on bonus issue:rofl::rofl::rofl::rofl:

 

[praveen taneja]

a close below 5020 will show real weakness delivery based selling in R Com n Bharati started

 

[praveen taneja]

nifty in discount closing below 5000 bad very bad

 

[praveen taneja]

nifty 5000 put n call playing see saw once call at 150 then put good game for the last one week n its me who dancing on them hahahaha

 

[praveen taneja]

Nifty declined 138 points last week accompanied by high volumes as traders turned edgy. But the fact that the index resolutely held above the key short-term support at 4,900 last week is worth lauding. This leaves the door open for another spurt higher in the near term to 5,042, 5,100 or even 5,210. Traders can buy in declines with a stop at 4,900.

Caution should, however, be exercised if the index fails to move above the first target. That will imply that the index can decline to 4,850
4880 is SL for all longs on a closing basis

 

[praveen taneja]

Reliance Industries (2100.05)


The bonus announcement that was expected to give a fillip to the sentiment on the RIL counter could not take the stock past the resistance at Rs 2,200. A three-wave move has been completed from the July 13 low in September and the sideways move witnessed since then could be a terminal corrective before the down move resumes to drag the stock down to our medium-term targets of Rs 1,727 or Rs 1,667. A strong close above Rs 2,200 is needed to signal an impending move higher to Rs 2,500.

The short-term trend in the stock is down but there is a strong support at Rs 2,070 where the 50-day moving average as well as the short-term trend line is positioned. Fresh shorts are therefore recommended only on a strong move below Rs 2,070. Subsequent targets are Rs 2,050 and Rs 2,010. Resistances for the week are Rs 2,163 and Rs 2,200.

 

[praveen taneja]

Strong & Weak futures
This is list of 10 strong futures:
OFSS, DCHL, IOB, Bajaj Auto, IDBI, Titan, Nagar Fert, Ultra Cem, HDIL & Canara Bank.
And this is list of 10 Weak futures:
GMR Infra, Idea, Bharti Airtel, RCom, TV-18, Grasim, MTNL, Suzlon, Patni & HSL Tech.
Nifty is still in Up trend

 

[praveen taneja]

What is the purpose of human birth? It is not merely to eat, drink and make merry. Paropakarartham Idam Shariram (human body is meant to serve others). Man should dedicate himself to the service of society. God has endowed man with all powers. But, he is bound by the senses, which lead him to both good and evil ways. Hence, it is the foremost duty of man to make proper use of the senses. One who lacks sense control is worse than an animal. Firstly, one should get rid of one's animal qualities. Only then, can one rise to the level of the Divine.