Can any one tell me what's going in the market ???

jatayoo · #11 20th April 2007, 08:28 PM

Quote:

Originally Posted by CreditViolet

LOL.Never be too sure with the markets or CV

---------------------------------------------------------------
HI,
I AM OF THE VIEW THAT TODAYS BULLISH MOVE WAS RELATED TO THE EXPORT POLICY CONCESSIONS ANNOUNCED YESTERDAY.THE IMPACT OF THIS POLICY IS REALLY BULLISH.DUTY DRAWBACK RESTORATION AND SERVICE TAX WITHDRAWALS ON EXPORTS IS A VERY BIG STEP FORWARD.APPLICATION TO SEZ's IS THE ICING OF THE CAKE.PERHAPS WE SHOULD TAKE OUT THE TOP NOW.

kkseal · #12 20th April 2007, 11:09 PM

Technically i think it's evenly poised.

We're on the verge of a 20-50 MA crossover. Bollinger Bands indicate more upmove. Volume indicators healthy. Trend is up. Fundamental news flow is good.
On the other hand we are close to resistance around 14k. Stochastic is at ob lvl (might remain there for a couple of days though. The RSI is still some dist away from ob lvl).

That puts bulls & bears on even keel with bulls having a slight upperhand based on todays performance. The final outcome i guess will be determined by global cues. That seems to rule the roost nowadays. And here we have a weakening US economy.

We do have quite a bit of support down under. A slight congestion area around the 10 EMA followed by the 20 & 50 EMA.

I don't know if the correlation between US & Indian mkts in recent times has been worked out but if done i'm sure the figure would be quite stunning - even more perhaps than the correlation with other emerging mkts. I don't quite fathom the reason for this but i'm sure it's there.

Regards,
Kalyan.

CreditViolet · #13 23rd April 2007, 03:29 PM

Quote:

Originally Posted by jatayoo

---------------------------------------------------------------
HI,
I AM OF THE VIEW THAT TODAYS BULLISH MOVE WAS RELATED TO THE EXPORT POLICY CONCESSIONS ANNOUNCED YESTERDAY.THE IMPACT OF THIS POLICY IS REALLY BULLISH.DUTY DRAWBACK RESTORATION AND SERVICE TAX WITHDRAWALS ON EXPORTS IS A VERY BIG STEP FORWARD.APPLICATION TO SEZ's IS THE ICING OF THE CAKE.PERHAPS WE SHOULD TAKE OUT THE TOP NOW.

Honestly Sir, I do not care really. Let whatever news come out, whatever policies and whatever patterns. I am just happy to make a bit of money every day and go home positionless and content.

IMO, as soon as one is exposed to the market truth that one makes money when prices move up and down against their position rather than any of the other zillion reasons, better it is for them.One active day of trading and I cant tell you how quick all the illusions of Wolfe,Elliott,Fundamentals wear off.

That said, I am done for the day, a good one esp for a scalper.

Rgds

oxusmorouz · #14 23rd April 2007, 07:14 PM

Quote:

Originally Posted by CreditViolet

IMO, as soon as one is exposed to the market truth that one makes money when prices move up and down against their position rather than any of the other zillion reasons, better it is for them.One active day of trading and I cant tell you how quick all the illusions of Wolfe,Elliott,Fundamentals wear off.

If only more authors would incorporate this in their book

ricktan150 · #15 23rd April 2007, 11:14 PM

Quote:

Originally Posted by subodhapegaonkar

Dear Friends,

Whats happening in the market ?
Our post sayes some wolfe or somwhat wave funda , I belive you guys as i think you are more experienced.
See today market opening in gap.
Its really confusing.
Mind and heart is not matching with synchrosinity.
I think I need to start learning basics practical fundamentals.
Help Help Help

Dear Subodh:
There are several ways to skin the proverbial cat! What I am trying to say is that basically there are 3 ways to analyze the market Fundamentals, Technicals and Mass Psychology. There are endless techniques under most of these categories within each of these high level categories. It is like life - there is ultimately one truth - that not many achieve!!!

Fundamentals and Mass Psychology will not pin-point intra-day action and apply for long term investing. It really depends on your personal make up and risk appetite -that defines the type of trader you are. If you are into intra-day play - please buy a book or two on Technical Analysis - I recommend Martin Pring or John Murphy's books. Little bit of investment in books will go a long way. These books maybe a little expensive but not having the right knowledge is exorbitant.

So like they say either you can catch the fish yourself, or let someone else catch it for you - or a combination :-)

There are several good free sites out there - the one I like in particular is
http://stockmarkettrendanalysis.blogspot.com/ or I there is another one that someone mentioned earlier on traderji called bse.blogspot.com - you can try and google it.

Also, there are several good analysts on this forum as well. Good luck!!

NAVEEVIa · #16 8th May 2007, 09:27 PM

Quote:

Originally Posted by CreditViolet

And here is a pictorial view of whats happening on the 5 Minute Fractal

CV
Sorry for being so ignorant
Can you plz enlighten me regarding fractals
what are they & what exactly meant by your table you posted
thnx

oilman5 · #17 8th May 2007, 10:20 PM

naveen, as u know cv has joined some other place...he is busy,
btw read work of dr bill williams,....chaos theoy...he uses fractal concept.

oilman5 · #18 8th May 2007, 10:38 PM

it is a new concept[1989 got recognised]. basically natural phenomena has its emphasis on many predictivity model including trading. a comlex view on mean reversion and trend factor.,simple fibonacci with elliot idea also used.
allegator concept use ...3 ma based signal alongwith macd. at certain swing pt trade charatertic changes predefined random way....as if looks chaos yet orderly approach...further lengthy discussion not possible here...since u r an engineer u shall enjoy it.HE has also guideline some trade philisophy..in a software called investors dream.also a gatekeepers concept...condition before entering trade and mfi[available in metastock]...may be useful.
hope this shall solve ur query
oilman5

NAVEEVIa · #19 8th May 2007, 10:43 PM

Thnx man
Sure an interesting concept to learn
Especially myself bored with confusing TA now
a coin toss is better for me these days with a stoploss
naveen

oilman5 · #20 9th May 2007, 06:21 AM

hi' naveen

regarding ur pm,....yes,yes,yes.
first he deals 5 stages of trader.concept of profitunity.also technicaltrends uses them.development of a system with random factor as well as trendness
with a contrarian view in mind....new diamention in trading ...further ellaborate it.
oilman5

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