Once again we thank our blog reader's. This blog writing helped us lot to improve our knowledge regarding technical analysis.
Sunday, April 1, 2012
HAPPY NEW FINANCIAL YEAR
Once again we thank our blog reader's. This blog writing helped us lot to improve our knowledge regarding technical analysis.
Friday, March 23, 2012
NIFTY - LONG TERM VIEW UPDATE
Yesterday short term trend changed to down, today intermediate also turned down, so what next ?
Now looks like our NIFTY FIFTY will test the upper trend line of down trending channel on weekly chart, which is approximately 5000-5050 level. After testing this level if NIFTY turns up then it will be very healthy for Indian market for up move. IN SHORT : - IT IS GIVING OPPORTUNITY TO BUY FOR LONG TERM INVESTORS.
5000-5050 level get tested in next 1-1.5 month period.
CAUTION : - but at the same time if it starts trading in down trending channel once again, then it may have negative impact and this view will get negated. If it starts trading in channel once again, there will be possibility of testing lows (4530) made in DEC 11, or it may start trading in range so that there will be time correction.
NOTE:- AS OF NOW STOP LOSS FOR LONG TERM INVESTOR IS WEEKLY CLOSE BELOW 4530. kindly note this level may change according to future price action.
DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.
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| NIFTY WEEKLY CHART |
5000-5050 level get tested in next 1-1.5 month period.
CAUTION : - but at the same time if it starts trading in down trending channel once again, then it may have negative impact and this view will get negated. If it starts trading in channel once again, there will be possibility of testing lows (4530) made in DEC 11, or it may start trading in range so that there will be time correction.
NOTE:- AS OF NOW STOP LOSS FOR LONG TERM INVESTOR IS WEEKLY CLOSE BELOW 4530. kindly note this level may change according to future price action.
DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.
HAPPY NEW YEAR
THE NEW YEAR WHICH COMMENCES ON GUDI PADAWA, IS IN ACCORDANCE WITH THE TIME THE UNIVERSE CAME INTO EXISTENCE . THUS THE DAY HAS TREMENDOUS POTENTIAL ELEMENTS TO CREATE A NEW ( NAV-CHAITANYA ). THUS CELEBRATE ONSET OF NEW YEAR ON GUDI PADWA.
IT IS ON THE SAME DAY LAST YEAR WE STARTED THIS BLOG. LITTLE BIT CONFUSED AT THAT TIME WHETHER IT WILL BE POSSIBLE FOR US TO WRITE THE BLOG, BUT UP TILL NOW 104 POSTS, NOT BAD.
ONCE AGAIN CONFUSED WHETHER TO CONTINUE THE BLOG OR NOT, LETS SEE WHAT IS IN STORE NEXT YEAR.
Wednesday, March 21, 2012
SHORT TERM VIEW
It has been mentioned in yesterdays post --- " So now further direction will depend on hourly close outside the range
of 5230-5300. If it closes above 5300 possibility of 5370-5400 " And today at 1:00 pm it given hourly close above 5300 so now possibility of 5370-5400 are high.
Stop loss for this trade will be hourly close below 5256.25.
By giving hourly close above 5300, it may be giving early indication that the short term correction which started on 15 march may be over. For this now it should not break below 5233, otherwise this view will get negated.
DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.
Stop loss for this trade will be hourly close below 5256.25.
By giving hourly close above 5300, it may be giving early indication that the short term correction which started on 15 march may be over. For this now it should not break below 5233, otherwise this view will get negated.
DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.
Tuesday, March 20, 2012
CONFUSION -- SHORT TERM TRADERS NOT SURE ABOUT DIRECTION
On 16 march view predicted was -- " Since yesterday short term trend has been changed to down, one can sell
NIFTY at C.M.P. (current market price ) - 5421 for target of 5300 and
may be 5200 in coming 4-5 trading sessions." ( See link - http://kolhapuritrader.blogspot.in/2012/03/nifty-short-term-view.html ). RESULT : - On next trading day ( 19 march) nifty achieved target of 5300, and today made low of 5233.8.
Now what is next possibility ?
As seen in above hourly chart nifty is trading in narrow range since last 2 days.
As seen above chart during previous fall on 7 march 200 EMA given support to nifty, and since last 2 days nifty is getting supported by 50 EMA, will these 2 supports hold or got broken during this week? Nobody knows the answer, we will follow the technicals so that we will be on right side.
One more thing we can notice in daily chart is that -- today nifty opened at 5261.3, made high of 5297.15, low of 5233.8 so movement of approx. 64 points, but closed at 5270.3. Thus it made DOJI which once again signifies confusion among short term traders about further direction.
So now further direction will depend on hourly close outside the range of 5230-5300. If it closes above 5300 possibility of 5370-5400 and if closes below 5230 possibility of testing recent low roughly 5170
Direction will be more clear after daily close above 5345or below 5230. If it gives daily close above
5345 possibility of resuming up trend are high and we will consider that recent fall is correction in ongoing up trend. But if it gives daily close below 5330 possibility of testing 5170 or there may be more downside.
DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.
Now what is next possibility ?
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| NIFTY HOURLY |
.png) | |
| NIFTY DAILY |
One more thing we can notice in daily chart is that -- today nifty opened at 5261.3, made high of 5297.15, low of 5233.8 so movement of approx. 64 points, but closed at 5270.3. Thus it made DOJI which once again signifies confusion among short term traders about further direction.
So now further direction will depend on hourly close outside the range of 5230-5300. If it closes above 5300 possibility of 5370-5400 and if closes below 5230 possibility of testing recent low roughly 5170
Direction will be more clear after daily close above 5345or below 5230. If it gives daily close above
5345 possibility of resuming up trend are high and we will consider that recent fall is correction in ongoing up trend. But if it gives daily close below 5330 possibility of testing 5170 or there may be more downside.
IMPORTANT NOTE : -
.png) |
| WEEKLY CHART |
As seen in weekly chart during the week ending on 3 feb NIFTY given break out above the down trending channel. The approximate target for this breakout is 6000-6050. BUT CAUTION during the ongoing correction ( fall ) nifty should not give weekly close below the upper trend line. Otherwise NIFTY will be back in channel and the breakout will turn out to be false break out. If this happens possibility of testing 4530 once again are high, and it may make new low also.
DISCLAIMER: This Blog is meant for sharing my trading ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading.
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