Daily Nifty Analysis
- Thread starter Dusant
- Start date
Hi karthik,
sorry for my (bad)post and beleive, it was not to aim anyone( sorry dusant).
Sometimes what we speak, what we write is a mirror of our mood. And last night post was the outcome of that.... i was in very disturb mood last night.
( truly a littile bit drunked
)
sorry for my (bad)post and beleive, it was not to aim anyone( sorry dusant).
Sometimes what we speak, what we write is a mirror of our mood. And last night post was the outcome of that.... i was in very disturb mood last night.
( truly a littile bit drunked
)
No apologies were necessary.
If you have been following this thread (or my blog, for that matter), you would notice that I always stick with two things.
One is the Keep It Simply Simple principle. (KISS)
The next one is, trade happy.
The KISS principle avoids complications, and the "trade happy" maxim allows me to draw up a trading plan. Whatever information the market gives you, there are always two sides to everything.
What I try and do, is to assimilate the market information, and draw up a trading plan.
I do lose money, yes, but my losses are lower than my profits, which is the ultimate bottomline.
I too enjoy a few pegs at a time, but never to drown my sorrows, related to the market. I either enjoy the drink, to celebrate a good day, or a minor loss, which I have not allowed it to become unmanageable.
In both the cases, I do not feel sorry for myself, or my pocket.
This attitude allows me to approach the next day with a happy frame of mind, where I do not need to get back my revenge against the big bad world, called the stock market. It also allows me to avoid making collosal mistakes.
Your apology is accepted with due humility and good grace.
Dusant.
Daily Nifty Analysis for 30 Nov 06
These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, check the link below.
As expected, bears did take a beating, but exactly at the eleventh hour of the expiration.
I have raised my mental stop for the Nifty at 3918, which level saw support. I expect the Nifty to test 3974 level mildly, and then react downward again. 3980 could be a good level where we may see short term resistance.
This is not a suggestion to short at 3980, only a suggestion to monitor that level. If that level is achieved, then a higher top would have been made, and would allow the bull run to be intact.
These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, check the link below.
As expected, bears did take a beating, but exactly at the eleventh hour of the expiration.
I have raised my mental stop for the Nifty at 3918, which level saw support. I expect the Nifty to test 3974 level mildly, and then react downward again. 3980 could be a good level where we may see short term resistance.
This is not a suggestion to short at 3980, only a suggestion to monitor that level. If that level is achieved, then a higher top would have been made, and would allow the bull run to be intact.
Attachments
Daily Nifty Analysis for 01 Dec 06
These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, check the link below.
The Bull Run remains intact. A new high has been maintained.
A convincing support now lies at the support zone marked out on the chart.
The breakout was tested on the resistance zone and has successfully maintained its upward move.
This break also has more significance, because it has occurred on a weekend. Normally, on weekends, traders close their positions. This suggests that bears are still on the back foot, and this move is re-enforcing the might of the bulls.
According to the short term triangle break, we can expect a target of 4120.
Let us see how the next week pans out.
Dusant
These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, check the link below.
The Bull Run remains intact. A new high has been maintained.
A convincing support now lies at the support zone marked out on the chart.
The breakout was tested on the resistance zone and has successfully maintained its upward move.
This break also has more significance, because it has occurred on a weekend. Normally, on weekends, traders close their positions. This suggests that bears are still on the back foot, and this move is re-enforcing the might of the bulls.
According to the short term triangle break, we can expect a target of 4120.
Let us see how the next week pans out.
Dusant
Attachments
Daily Nifty Analysis for 04 Dec 06
These are my personal musings. These are not in any way meant to be trading advise. To view the chart, check the link below.
The Bull Run still remains intact. A new high has again been achieved.
A convincing support now lies at the support zone marked out on the chart. The Nifty still has maintained its upward trend.
On the other hand, sector indices like the Bank Nifty and the CNX IT show some signs of weakness. Leading us to believe that there could be a minor correction in the Nifty. The correction could be enough to allow bulls to believe that the bull run is over. In that case, the support level of 3970 will be tested.
If I was trading this market, I would maintain a stop of around 3960. If I was to re-enter this market, I would look at 3970, as an entry level, with a strict stop. In any case, the technicals still suggest that we could expect a target of 4120.
These are my personal musings. These are not in any way meant to be trading advise. To view the chart, check the link below.
The Bull Run still remains intact. A new high has again been achieved.
A convincing support now lies at the support zone marked out on the chart. The Nifty still has maintained its upward trend.
On the other hand, sector indices like the Bank Nifty and the CNX IT show some signs of weakness. Leading us to believe that there could be a minor correction in the Nifty. The correction could be enough to allow bulls to believe that the bull run is over. In that case, the support level of 3970 will be tested.
If I was trading this market, I would maintain a stop of around 3960. If I was to re-enter this market, I would look at 3970, as an entry level, with a strict stop. In any case, the technicals still suggest that we could expect a target of 4120.
Attachments
Daily Nifty Analysis for 05 Dec 06
These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, check the link below.
How boring. A new high has again been achieved, once again.
It really is strange, how traders have doubts in their minds when they are holding positions. There is no evidence of any weakness and yet people ask me for my opinion on the market.
The Bank Nifty seems to have taken support, and about to bounce back. As a result, some sector churn could follow, leading to some volatility in the Index.
The technicals still suggest that we could expect a short term target of 4120. The fib extension target posted earlier still holds at 4170.
These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, check the link below.
How boring. A new high has again been achieved, once again.
It really is strange, how traders have doubts in their minds when they are holding positions. There is no evidence of any weakness and yet people ask me for my opinion on the market.
The Bank Nifty seems to have taken support, and about to bounce back. As a result, some sector churn could follow, leading to some volatility in the Index.
The technicals still suggest that we could expect a short term target of 4120. The fib extension target posted earlier still holds at 4170.
Attachments
Daily Nifty Analysis for 06 Dec 06
My analysis has been posted at my blog.
http://dusant.blogspot.com/2006/12/nifty-for-05-dec-06_06.html
Please follow the link.
Dusant
My analysis has been posted at my blog.
http://dusant.blogspot.com/2006/12/nifty-for-05-dec-06_06.html
Please follow the link.
Dusant
Daily Nifty Analysis for 11 Dec 06
My Blog has been updated
http://dusant.blogspot.com/2006/12/nifty-for-11-dec-06.html
Dusant
My Blog has been updated
http://dusant.blogspot.com/2006/12/nifty-for-11-dec-06.html
Dusant
Daily Nifty Analysis for 12 Dec 06
My Blog has been updated.
Here is the link. http://dusant.blogspot.com/2006/12/nifty-for-12-dec-06.html
Trade Happy.
Dusant
My Blog has been updated.
Here is the link. http://dusant.blogspot.com/2006/12/nifty-for-12-dec-06.html
Trade Happy.
Dusant
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