Trading with Volume Spread Analysis (VSA)

[nimish_rulz]

Sure boy. We had such a major upthrust when the rest of the Global markets are "supposedly" doing "well". I am bearish on Dow as well. And I don't think it can go anywhere but down.

Dude you have been piping the bearish flute when the Dow was 9830, Nifty 4700, FTSE 5033. You had been singing the bullish views when the Nifty was at 5200+, FTSE at 5540, Dow at 10,700.

I respect your views but can your please present any charts especially the final hour which can show the volume was more than the volume in the afternoon session. It would be great to see charts from 1 to 230 and 230 to 330. Especially 245 onwards until 330.

 

[bunny]

Dude you have been piping the bearish flute when the Dow was 9830, Nifty 4700, FTSE 5033. You had been singing the bullish views when the Nifty was at 5200+, FTSE at 5540, Dow at 10,700.

I respect your views but can your please present any charts especially the final hour which can show the volume was more than the volume in the afternoon session. It would be great to see charts from 1 to 230 and 230 to 330. Especially 245 onwards until 330.

Yes, I am bearish on NIFTY since it was trading around 4750. And I still bearish. Just because its trading at 4920 today doesn't mean I should take a bullish view. Day after day, weakness in being pronounced on charts. I find no reason to buy the market just because its going up. Today's major upthrust proves my point. If the budget was "really good" and all the double volume(340 mn as compared to 180 mn yesterday in NIFTY spot), why did we close so much off the highs?

Weakness is strewn all over the daily charts of NIFTY. There is no way it can go up to any serious extent.

For the charts, you can download the IEOD data from Invest Bulls and checkout yourself as I do not have a RT feed and my charting terminal has some updating issues.

Smart money has used this opportunity to transfer this stocks to the weak money.

Let Dow, FTSE, Nikkei, Hang Seng, KOSPI, Shanghai, CAC, DAX, NASDAQ, S&P 500, etc. go anywhere, but S&P CNX NIFTY and SENSEX have no other option but to go down.

I like to trade the charts rather than Global markets and other data.

 

[bunny]

Weakness is strewn all over the daily charts of NIFTY. There is no way it can go up to any serious extent.

I will update this thread soon with daily charts of NIFTY and point out where exactly I am seeing the weakness.

 

[niludeepak]

respecting seniors and other members expectations i will post in english only

the professionals today inflated the markets balloon in the name of budget, and then only very slowly and secretly they trapped the buyers and deflated the markets' balloon

 

[bunny]

respecting seniors and other members expectations i will post in english only

Thank you

 

[nimish_rulz]

Yes, I am bearish on NIFTY since it was trading around 4750. And I still bearish. Just because its trading at 4920 today doesn't mean I should take a bullish view. Day after day, weakness in being pronounced on charts. I find no reason to buy the market just because its going up. Today's major upthrust proves my point. If the budget was "really good" and all the double volume(340 mn as compared to 180 mn yesterday in NIFTY spot), why did we close so much off the highs?

Weakness is strewn all over the daily charts of NIFTY. There is no way it can go up to any serious extent.

For the charts, you can download the IEOD data from Invest Bulls and checkout yourself as I do not have a RT feed and my charting terminal has some updating issues.

Smart money has used this opportunity to transfer this stocks to the weak money.

Let Dow, FTSE, Nikkei, Hang Seng, KOSPI, Shanghai, CAC, DAX, NASDAQ, S&P 500, etc. go anywhere, but S&P CNX NIFTY and SENSEX have no other option but to go down.

I like to trade the charts rather than Global markets and other data.

You say you trade the chart but your firm opinion saying it has to go down says a lot. You are already married to the view that the markets are going down. After rallying more than 5% since your bearish sentiments were first posted. When the market had busted 10% from the peak you changed your view from Bullish to Bearish.

Can you explain me at what levels you believe that market is bullish?

I certainly feel that if we manage to close above 4950 we will attract enough bulls to take the market higher.

Today the initial rally was due to the short covering. The real perspective would be seen on Tuesday.

You don't care about global markets but they are trigger for our markets today. However bullish your markets maybe if there is a global breakdown our market will go down as well. Similarly if the world markets go up sooner or later due to the cheaper valuation and better growth market would automatically attract enough investors.

If US even sneezes the entire world gets a cold. So Dow both fundamentally and technically is more than capable of deciding the trend.

If you are slightly more open minded and care to check the correlation between the few markets you will get a shocking revelation.

Charts are great but the interpretation of chart is the way you want to think the market will pan out.

I don't say market cannot go down. It can and hec it may on Tuesday but for the short term after seeing that 200 DMA levels we have reversed and gained around 250 points according to todays close and that makes me feel that we are range bound but moving towards the upside.

I was fool enough when the market broke 5167 I kept on thinking it will go up. But now after going through the Saint sir's thread I firmly believe that trend is our friend. I would turn bearish if we close below 4830 as that has been incredible support for the past couple of weeks and also the short term pivot low. Similarly I ll be 100 percent bull if it closes above 4950. Today although it broke the pivot high of 4951 and resistance line which had been there for the past 1 month or slightly more.

 

[bunny]

Can you explain me at what levels you believe that market is bullish?

If would know when the market would be bullish, then why would I came daily and post that "I am still bearish". Obviously I don't know at what time, date and level we are bottoming out. Lets keep on analyzing daily, for some day it might come. What else can we do about it?

 

[nimish_rulz]

If would know when the market would be bullish, then why would I came daily and post that "I am still bearish". Obviously I don't know at what time, date and level we are bottoming out. Lets keep on analyzing daily, for some day it might come. What else can we do about it?

Alright cool. I ll wait for your views. Respect you for your opinion. Many thanks. I agree volumes were mega high today. Just waiting for the FIIs and DIIs data on NSE today. As for the past 3 weeks that has been increasing. Liquidity is increasing and if it keeps on going up it will be good for the markets.

 

[niludeepak]

this is a reading of intraday chrts according to my (as it is) view,
trap up means the up thursts on intray graph tracings and vol as understood by me
strength sud not be taken for next days buy, it only says what appeared to me on intraday charts and vol, as i have understood,
my following view is only partial truth,
as daily chart will reveal, may be, some thing else, historical strength can be found there,
also they keep on rotating, and
above than else our own bias distorts our understanding

if i find time i ll post views in similar fashion of my understanding of daily charts, of course only if unobjectionable seniors and other participants

pl. try to have a detatched view of the following:

relcap- trap up
dlf- a complete fiasco,trap
tata mot- strength
m&m - strength
suzlon - strength
maruti - strength
unitech - trap
sbi - trap
hindalco - trap
rel infra - strength
ster- strength
herohonda- strength
sail- trap
cipla- strength
nationalum- strength
pnb- trap
cairn- strength
icici- trap
ranbaxy- strength
axis- trap, but may be not complete
idea- strength
jindal stl- trap
tata comm- trap of 10 pts but recovered 6 pts from low, +- strength
lt- strength
tata steel- trap
rcom- trap
siemens- strength
rpower- trap
hdfc- strength
reliance- trap
hdfcbank- trap
ambuja cem- strength
pow grd- strength
grasim- strength, but low vol
bharti- strength
bpcl- trap,& rather gone up to eat SLs
sunpharma- trap
ongc-strength
hul- trap
bhel- trap
acc- strength, with 2 -3 tests
gail- weak from beginnig
infosys- trap
hcl-strength with good low vol testing
tcs- trap
wipro- trap
abb- weak
tata pow- weak
itc- fell down sharply, but good absorption vol

 

[kindman]

i will update this thread soon with daily charts of nifty and point out where exactly i am seeing the weakness.

bunny waiting for your chart ....