Intraday Trading

[kthakker0]

06/08/2012 Thursday

Hi all,

Although my target is still 300 point higher from here, we may see some consolidations or some down drifts but all in all the rally is here for some more time as weekly and monthly indicators are still rising. So every fall will find buyers at already mentioned lower levels.

The levels above 5313 are. 5333, 5352, 5372, 5391, 5411, 5430, 5450 and 5469 The bold one's are important levels.

Bye

21/08/2012 Tuesday,

Hi all,

NF trading above 5391 was a signal to take or be in long positions and today's close above 5430 has signaled that rally still has some steam in it.

With BJP demanding PM resignations in the Parliament the political climate is getting darker by day.

Tomorrow's range is again 5430-5352 with 5381 as the trend setter.

My near target is 5469 but if NF trades above 5469 for 5-10 minutes with volumes then my near target will be changed to between 5510-5500


Bye

 

[kthakker0]

22/08/2012 Wednesday

Hi all,

Two consecutive closing above 5430 signals that rally still has some juice left but close below 5430 will negate the steam and rally could stall.

Tomorrow's range again has 5430 with low at 5391 and 5411 as the trend setter. Here 5430 is becoming an important level as today NF was mostly trading above 5430 with support at 5425 and today's close of 5431 confirming the same.

With every passing day the trend setters are rising while high remains the same.

But as long as 5430 is held my near target is still 5469 and trading above it is for 5500 level before any fall takes place due to any god-dam-reason.

The odds are getting skewed in favor of fall (drastic or other wise consolidated) with every passing day.

At the time of this writing Europe has closed in RED and US is trading in RED

Bye

 

[kthakker0]

23/08/2012 Thursday

Hi all,

Today open above 5430 was a confirmed signal that NF will trade at 546x levels, which it did by trading at 5463 level.

For me today's close below 5430 is a signal to go short at important higher level

Indian Political climatic is known to every body and our market is most sensitive to any bloody news.

With BJP adamant to rock n roll the Parliament with our PM been targeted as the most prized (Golden) carrot dangling from the stick is not only the most horrific to see but also the saddest part of Indian politics.

Lets see how long can this old man (PM) hang on to the stick (Congress) which can break sooner then later anytime.

So guys what are your opinions about how much our market will fall if the sticks breaks and PM falls or PM falls breaking the stick in recoil effect...

Some posting about Congress in Times of India

• 10 Janpath has become 10 "GANDPHAT"
• 1255 comments by 10 PM, 95% are against Congress chief. So many abuses for madam? Some thing is wrong. All these people cannot be wrong.
• Rajiv Gandhi's offensiveness in the legendary "Bofors kickback case" kicked Rajiv Gandhi so hard that Congress as decimated in the elections that followed and that too for ONLY Rs. 64 crore. But it seems that Congress has transformed and evolved not only to exploit India but also to compensate itself very well by scamming in for 1000's of crores. Now what will happen to Congress in the coming elections.
• BJP is succeeding in undressing Sonia and she is on the brink of walking the ramp naked with Most unclean (PM) Manmohan Singh, and her children with a sure climax of bringing the curtains down on Nehru's (Family) specially on Congress for ever. Italian Mafia Strategy,

Thinks guys. what will happen to us (traders) if we are caught on the wrong side of the trade due to the fights between these two heavyweights (Congress n BJP)

Tomorrow's range is 5469-5391 with 5430 as the trend setter.


Bye

 

[smartshahezad]

Non Biased View

I am not a political person and all I can see and interpret are charts. Although I do watch TV and go through some fundamental websites too. Although for a technical trader like me, these things work as distraction.

I don't intend to oppose your views but I wouldn't support them too.

There are certain things that are suppose to happen no matter what. I don't think rainfall sees who is the ruling party or who is not. If it don't want to rain, then it won't rain.

Similarly, I believe no political party is pure. If the scams are coming out during congress, I would believe the same thing would happen during BJP too. Corruption is not a new issue that has surfaced during Congress' rule, but it was there when BJP was ruling too and it's not gonna make no difference later on too.

Everyone knows how Indian markets always follow global markets. They rarely stand on their own. So if BJP is ruling or maybe any other party(sorry I ain't familiar with other parties, if at all they exist ) and if global markets are down, then it's gonna be down. Just the way it's with rain. It won't see who is the ruling party in India.

And yeah lastly, right now, the market is in a strong Technical Support Zone and so even without good fundamentals or you can say even with bad fundamentals, the markets unable to slide down. The bad CAG report and BJP's stand in the parliament too weren't able to break the technical support. The rainfall data too have stopped affecting the market. It's not a long Bull rally too but there is plenty of bullishness left in the market which can also be seen through the FIIs investments.

Technically speaking, the weekly and daily impulse is still on the Bull's side. And according to me, we might still see a new high before all the bullish juices are sucked up and markets come down. Crude prices are rising up and it's just a matter of time when it comes into notice and starts affecting the markets as then, government will have no option but to increase the prices of fuel.(Here too it would have been impossible for any party to not raise the fuel price. It's called party independent )

Consolidation and profit booking are part of a trend which we shall not forget. And which doesn't necessarily mean the tend has reversed.

Note : The views expressed are my own and I might be wrong at certain places. Also I have no offence meant to anyone at all. I am not a political person and I just don't like to blame any party or government for anything in terms of trading. I take the responsibility for any losses. And I also believe that the government is build by people just like us and we need to look at ourselves before commenting on anyone. Also if we believe other people are wrong and are not doing good things for the country, then I think India is a democratic country and no one would stop an individual to enter into politics.
I am proud to be Indian and will always be no matter which party is the so called ruling party.

 

[kthakker0]

Re: Non Biased View

I don't intend to oppose your views but I wouldn't support them too.

There are certain things that are suppose to happen no matter what. I don't think rainfall sees who is the ruling party or who is not. If it don't want to rain, then it won't rain.

Everyone knows how Indian markets always follow global markets. They rarely stand on their own.

And yeah lastly, right now, the market is in a strong Technical Support Zone and so even without good fundamentals or you can say even with bad fundamentals, the markets unable to slide down. The bad CAG report and BJP's stand in the parliament too weren't able to break the technical support. The rainfall data too have stopped affecting the market. It's not a long Bull rally too but there is plenty of bullishness left in the market which can also be seen through the FIIs investments.

Hi,

Please don't read this post in a negative sense. Ok!

But let me make one good request, no one should get offended if members views do not agree with each other.

smartshahezad
My main aim is to earn money, but the market that we trade in is not only very sensitive but also very susceptible to manipulation even though we have a lot of controls over it.

An example of how market is manipulated
Look at NF when Reliance Power IPO was open, and also look at world mkts.

The stark contrast: World markets were falling and we were scaling new highs.

Look at our market: Following the days after R Power IPO closed we caught up with our world members as we fell like never before.

This proves 2 things

1. Indian market does not always follows world market
2. Its money that matters and not politics nor any sentiments nor any news

And even now I feel that same fate might been repeated again.

Summary
Whatever I have written is just some extra effort, so as not to get caught on the wrong side.

This is the only market which will teach you how to take care of your money, no one's views are considered, what matters at the EOD is has your bank balance risen, if yes, by how much.

Bye

 

[a1b1trader]

Hi KT
Your analysis for 24th and views for 26th are awaited. Please post the same.
Thanks

 

[kthakker0]

26/08/2012 Sunday

Hi all,

The Tug of War between BJP and Congress is out in the open with our PM as the prized asset in the middle. No matter who wins this tug war India will become more self aware and will be united against corruption then ever before.

This proves that the chair is more powerful and not the person, the moment person show's signs of weakness he/she will be toppled.

Perhaps this is the only way to weed out corruption and corrupt political leaders along with various gov employees from India.

The question is Why or Who is holding this market even in the face of PM resignation demand?

• Are the big heads caught in the net at higher levels and are trying to find any escape route. Or
• Are the big heads taking higher risk then the reward.

Strategy
NF trading below 5430 for more time will weaken the sentiments and below 5411 will confirm the same, but for some traders NF trading below 5400 is a confirmation to give up long or hedge long position. Above 5430 I'll wait for NF to breach 5469 or return from below it.

Tomorrow's range is same as of Friday 5469-5391 with 5430 as the trend setter.

Friday's close below 5430 is not good sign for rally as stated before and if 5469 or Friday's high is not breached then it's again shorting from higher levels.

Bye

 

[smartshahezad]

"The question is Why or Who is holding this market even in the face of PM resignation demand?"


The answer to this question is according to me nothing fundametally is giving support to Nifty but it's the technical support that's holding the market firm..

Also as per my views and knowledge, fundamentally there is nothing that is helping the market go Long or Short. World markets too are staying flat. Expiry of NF is near too and so i dont expect vigorous moves unless and until something real bad or good happens.

Fed Reserves and ECB are both due to announce something and people are still expecting some positive reforms from them.

I would expect our market to hold these levels until the expiry or until some new fundametals come up.

 

[kthakker0]

06/08/2012 Monday

The levels above 5313 are. 5333, 5352, 5372, 5391, 5411, 5430, 5450 and 5469 The bold one's are important levels.

Bye

27/08/2012 Monday

Hi all,

Today's open below 5411 was an early indication that shorts can be pressed with confident for levels lower then 5391 as it has already been stated on Sunday's post and followed for quite a while.

But NF not breaching even 5411 gave greater confidence in the trade as 5411 was the SL for the shorts.

Tomorrow's range 5391-5352 is very small with bias on lower side and 5362 as the trend setter. This range can be very boring to trade or could be very volatile during the session.

If there is any reversal waiting to happen then 5313 will not be breached and levels of support could be 5346, 5333, 5325 and 5313

Bye

 

[kthakker0]

"The question is Why or Who is holding this market even in the face of PM resignation demand?"

The answer to this question is according to me nothing fundametally is giving support to Nifty but it's the technical support that's holding the market firm..

Also as per my views and knowledge, fundamentally there is nothing that is helping the market go Long or Short. World markets too are staying flat. Expiry of NF is near too and so i dont expect vigorous moves unless and until something real bad or good happens.

Fed Reserves and ECB are both due to announce something and people are still expecting some positive reforms from them.

I would expect our market to hold these levels until the expiry or until some new fundametals come up.

Hi,

Technical: Gives the detailed required picture of what the market is thinking of and what will it do in that sense.

I only trust numbers, if a particular number is a firewall (like 5430) I'll respect that firewall and plan my trades accordingly.

Our market is quick in discounting news but slow in reflecting the same in price terms. Balancing the risk with reward is very important for traders survival.

Bye