trading futures on technical analysis with toocool

[jamit_05]

I hv not bet on market falling. I do not have any bearish positions. In fact, I opened bullish positions of 5 Nifty lots on Thursday. So, its not like market is going up and I am bearish.... that would put me out of business in a fortnight.

Yet, I seek bearish levels because I want to be mentally prepared for buying stocks. And this takes time. Thats it, for the sake of preparedness.

But, generally speaking, I am bearish on the higher timeframe because I do not see any positive trigger on the horizon; and it is badly needed to sustain these levels. But, there are plenty of negative triggers. Most sectors are showing reduced EPSs, while others struggle to maintain status quo. Plus, BJP has never been pro-Indices. They tend to tame inflation. And finally,

Do you not find it fishy that markets had to touch all time highs right in the middle of elections, when it had all year to do it?

I feel this rally is rigged BIGTIME. Play along, and imagine if Nifty were sub-4500 levels during elections. Wouldn't that totally worsen the chances of Congress (well, of whatever little it had). May be that is why they have to prop it up via FIIs.

Yes, I agree with you when you say charts are bullish. But, it takes a week to change a monthly breakout bar into a inverted hammer. And if that happens, its going to be bad.

 

[jamit_05]

Also, toocool, Nifty may be rising, but not all stocks are rising. Even in Nifty-50, Energy, Construction, Telecom, Cement etc are far, oh so far, from there all time highs. PSU banks too, as they are piling on NPAs much more than they can disclose.

Without this broader base, I refuse to believe in India Shining. I do not think that only IT, and Pharma can break and sustain all time highs.

 

[toocool]

I hv not bet on market falling. I do not have any bearish positions. In fact, I opened bullish positions of 5 Nifty lots on Thursday. So, its not like market is going up and I am bearish.... that would put me out of business in a fortnight.

Yet, I seek bearish levels because I want to be mentally prepared for buying stocks. And this takes time. Thats it, for the sake of preparedness.

But, generally speaking, I am bearish on the higher timeframe because I do not see any positive trigger on the horizon; and it is badly needed to sustain these levels. But, there are plenty of negative triggers. Most sectors are showing reduced EPSs, while others struggle to maintain status quo. Plus, BJP has never been pro-Indices. They tend to tame inflation. And finally,

we humans cannot predict future we are very bad at doing it so there is nothing new in not seeing positive triggers for markets to go more up, and as i said TA and fundamentals are contradicting analysis , so you cannot mix these 2 together to find a sweet spot/hybrid analysis ..........negative triggers do not matter to me as a TA , i do not even seek to know what are these , and you are talking about BJP not being pro markets ? i am saying let mayawati , or mulayam singh , or rahul gandhi or prakash karat be PM , this markets still going up , slower or faster is different matter .......................i however have a strong belief Modi will write new historical milestones as PM of India for the next 10-15 years

Do you not find it fishy that markets had to touch all time highs right in the middle of elections, when it had all year to do it?

I feel this rally is rigged BIGTIME. Play along, and imagine if Nifty were sub-4500 levels during elections. Wouldn't that totally worsen the chances of Congress (well, of whatever little it had). May be that is why they have to prop it up via FIIs.

no i do not even see markets being rigged because i only see charts and charts are conforming to a clear cut bull run with perfect TA , markets took support on all right levels and market resisted all right levels and after resisting those levels broke those levels handsomely , there is no rigged markets on charts .............markets made even a great cup and handle formation and the 2-3 years target of nifty has been set @10000 levels with ofcourse its own pace and time , natural process

Yes, I agree with you when you say charts are bullish. But, it takes a week to change a monthly breakout bar into a inverted hammer. And if that happens, its going to be bad.

yes it takes a week to turn bullish markets bearish , but unless and untill that doesnt happen , your desire to own stocks at your own level are making you think , what could happen and what not .............i certainly can die right at this moment before i even post this post , i am however hale and hearty , no signs of any disease or anything , other than the fact that i have only 1 kidney , if that happens it will be pretty shocking for my family ................but lets see , whether i am able to post this post or not.............if you see my post then be assured that i survived the risk of being dead at the moment

and you assumption that just because most stocks are still lying at lower levels and not in a bull run ..............let me tell you this , the 20-30 years targets of nifty and sensex are 30000-35000 and 100000 respectively .................maybe , just maybe , in 1 year or 2 nifty will attain 8000 level and 70% stock start their bull run at that time ..................is there any law written which i do not know which states that markets cannot start bull run only with frontlines only at first and then rest of the markets will follow ? even if its written somewhere ....................there is nothing in this world which doesnt have exceptions

i will change my stance according to TA , when the time comes

 

[toocool]

 

[jamit_05]

Trend is bullish, Nifty is at all time highs. No rocket science in that. Have you taken any bullish positions? You must. I have. And I will ride it as long as it lasts. But, I am not a believer. I want the broader market to follow, not just select stocks. Hence, I am hopeful that soon my money will find a better parking space. And if you are predicting that that may not happen any time soon then....

 

[toocool]

i must be long?

sir i am long since 6230

and if you are not even a believer of monthly chart patterns(cup and handle) and its targets then....

 

[toocool]

shared here

 

[jamit_05]

i must be long?

sir i am long since 6230

and if you are not even a believer of monthly chart patterns(cup and handle) an its targets then....

very nice... in that case u made a killing. Almost 600 points up... Rs.30000 per lot. V.Nice. Then, one is bound to hv a bias.

 

[toocool]

very nice... in that case u made a killing. Almost 600 points up... Rs.30000 per lot. V.Nice. Then, one is bound to hv a bias.

ohh my goodness :lol:

now i am a biased TA , too bad to hear that :lol:

my chart reading which said to me in September 2013 that things were bullish ahead are biased since then ?

i still must work hard i guess , i wanted to be a kite which is unbiased waiting for the wind to take me wherever it wanted ,but looks i have not succeeded convincingly , the wind took me north so i went north, charts are still north so i am still north , but i am forcing myself on the wind , too bad

 

[jamit_05]

ohh my goodness :lol:

now i am a biased TA , too bad to hear that :lol:

my chart reading which said to me in September 2013 that things were bullish ahead are biased since then ?

i still must work hard i guess , i wanted to be a kite which is unbiased waiting for the wind to take me wherever it wanted ,but looks i have not succeeded convincingly , the wind took me north so i went north, charts are still north so i am still north , but i am forcing myself on the wind , too bad

Nice... Nice. Liked.