Nifty analysis for 02 August 2006

Dusant · #1 2nd August 2006, 06:44 PM

Disclaimer: These are my personal musings and only meant for entertainment, not as trading advise. The link to the chart is below this post.
The Nifty is back in the “Zone”.
From the manner in which the Nifty is moving, we surmise that during the beginning of last month, there was cautious optimism. Later, there was a shakeout of the weaker bulls, who were leveraged to the full.
Once they were out of the system, we see that there has been a sharp bounce back up. This move may not have allowed the bulls to re-enter, due to the swiftness of the move. It does seem from the last three days, that accumulation is happening. The bulls are not allowing the price to fall beyond a reasonable level, which could make recovery impossible. Further, the sidelined bulls still seem to be waiting for a substantial correction, to enter long. These bulls, who have missed the bus, will start chasing the price, which could further fuel the bullishness. And as is common, they will be left holding the baby at higher levels.
At present there are no panic buttons being pressed, either by the bulls or the bears.
Both the camps are adopting a wait and watch attitude.
The dice still seems weighted in favour of the bulls at this point in time.

kuldeep49 · #2 2nd August 2006, 10:06 PM

Quote:

Originally Posted by Dusant

Disclaimer: These are my personal musings and only meant for entertainment, not as trading advise. The link to the chart is below this post.
The Nifty is back in the “Zone”.
From the manner in which the Nifty is moving, we surmise that during the beginning of last month, there was cautious optimism. Later, there was a shakeout of the weaker bulls, who were leveraged to the full.
Once they were out of the system, we see that there has been a sharp bounce back up. This move may not have allowed the bulls to re-enter, due to the swiftness of the move. It does seem from the last three days, that accumulation is happening. The bulls are not allowing the price to fall beyond a reasonable level, which could make recovery impossible. Further, the sidelined bulls still seem to be waiting for a substantial correction, to enter long. These bulls, who have missed the bus, will start chasing the price, which could further fuel the bullishness. And as is common, they will be left holding the baby at higher levels.
At present there are no panic buttons being pressed, either by the bulls or the bears.
Both the camps are adopting a wait and watch attitude.
The dice still seems weighted in favour of the bulls at this point in time.

Weighted for or against?

Dusant · #3 3rd August 2006, 08:43 AM

Quote:

Originally Posted by kuldeep49

Weighted for or against?

kuldeep49 ... it would do a lot of good if we read carefully ... "The dice still seems weighted in favour of the bulls at this point in time."

Dusant · #4 3rd August 2006, 08:55 AM

Quote:

Originally Posted by bjj9126

Dear Dusant,

I came to know a site : www.stockstrend.net & it is giving daily pick (for one stock's levels) on its front page & these levels are working well,
I am trading with these levels since last 2 months,
I tired but I cannot found with Metastock that which indicators they are using,
for examples:- (1)last day(for date 01/08/2006) there is CIPLA: buy with stoploss 227 target 236 & 240, (2)for today(for date 02/08/2006) there is RELIANCE : sell with stoploss 993 target 974/67/45 break of stoploss will go 1005 there sell again,(3) for date 24/07/2006 there SBIN : crucial 704,
Can you please guide me how can they found these levels ?
By which Indicators I can also found these levels ?
I am using Metastockpro 9.0,

Thanks.

Prakash(bjj9126)

Hello Prakash
It is practically impossible to pinpoint the mathematical method being used by anyone. There are several methods to do so, and the most common one is pivot points. Check investopedia.com to read more about the various methods of calculating pivot points and how they are used in trading.

kuldeep49 · #5 3rd August 2006, 10:21 PM

Quote:

Originally Posted by Dusant

kuldeep49 ... it would do a lot of good if we read carefully ... "The dice still seems weighted in favour of the bulls at this point in time."

Yet everyday for the past few, at the end of the day, the bears seem to be catching up. If you ask me there is a setup going ... something like Kumble slowly but surely springing a trap for the batter. The question is ... who is Kumble and who is the batter? You are throwin your weight behind the bulls ... hope you are right!

Dusant · #6 4th August 2006, 12:59 AM

Quote:

Originally Posted by kuldeep49

Yet everyday for the past few, at the end of the day, the bears seem to be catching up. If you ask me there is a setup going ... something like Kumble slowly but surely springing a trap for the batter. The question is ... who is Kumble and who is the batter? You are throwin your weight behind the bulls ... hope you are right!

Hello Kuldeep,
Trends do not change overnight, and it is not a matter of hoping whether I am right or wrong. The market does not care whether my analysis is correct or off. It is a matter of drawing up a probable direction, trade it, and use sound management of the trade to see that we are not battered.
Trade happy.
Dusant

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