Just Nifty

Nifty, holding DLEma-5777, ends the day within the "Pause mode/ sideways range of DHEma-DLEma".

2013-06-19T16:00:00.000+05:30

Nifty Intraday Update-III

2013-06-19T14:09:00.003+05:30

Nifty Intraday Update-II

2013-06-19T12:07:00.000+05:30

Nifty Intraday Update-I

2013-06-19T10:04:00.000+05:30

Nifty Pre-Market View.

2013-06-19T07:40:00.000+05:30

Nifty logged into trading/ pause mode when it closed above DLEma on 14th June. And it got sold off above DHEma 5838-55(DHEma to DHEMA+20) on 17th & 5847-63(DHEma to DHEMA+20) on 18th but holding onto DEma @ EOD.
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"Let us remember that a ST reversal possibility starts in hour T/F.
Let us also remember that weekly trend still remains "DOWN" with its LEma @ 5825. If it remains so till EOD, this rise would play itself out by middle of next week.--June 14, 2013 at 12:33 PM.
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"Middle of next week is here & today."
Above "5840-51", 61.8%-80% of last fall from 5863 to 5804, strength.
Resistances @ 5870-84 zone. Above 5884, larger retrace for 6134-5693 comes into play.
Supports @ 5791-5802 zone. Below would be the critical "5770".
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Go to "icharts.in" and you can study various stock charts and how Applied Technicals have helped to understand the price behaviour as well as anticipate price patterns.
Keep your study to few stocks and Nifty.
You can choose 2 or 3 indicators of your choice and settings (I have chosen S.Macd, F.Stochastics & 9-Rsi). It gives you Day & weekly charts free of cost. You can make your short term delivery based trading by studying these charts and make your entry/ exit plans. Always combine the stock study with the index. Most stocks follow the index except few defensive ones.
Why short term delivery based trading..?
There is no margin trading and hence your losses will be minimum in case the trade goes wrong.
You will be relaxed to initiate a trade as your time horizon would be 3 to 10 days. However, it requires patience.
Choose high volume & institutional favourites - pick from Nifty.50 & Junior.50. Expect a return of 3 to 5% from stocks and it could go higher during trending times.
As I do not use any software, I suggest you to start with this study and then move on to "icharts's paid software for intraday charts" if you feel the need to.
Make money - should be your objective. Put your money only when you're ready. Until then, you can do "JNSAR trading" relaxingly.

Nifty, holding "5811" rallied, found selling pressure @ Golden Ratio-5862.

2013-06-18T17:41:00.001+05:30

Nifty Intraday Update-III

2013-06-18T14:03:00.000+05:30

Nifty Intraday Update-II

2013-06-18T12:05:00.001+05:30

Nifty Intraday Update-I

2013-06-18T10:03:00.000+05:30

Nifty Pre-Market View.

2013-06-18T07:57:00.001+05:30

Nifty near its 61.8% of its last fall(5972 to 5683)-5862 and the cluster starting point of 5870.
For supports monitor the retrace of the last rise from 5683 to 5855 and "5777-5797" zone.
For Intraday traders, weakness below 5840 with minor supports @ 5811 & 5797.
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If you are really committed to making 300+ points on an average, then forget about those sideways markets for they will get you glued to the screen.
How much of a sideways move possible & when they will end is time consuming & wasteful to apply our mind to it and hence choose on part booking on our positions and re-initiating the positions as long as the market is in its original trend.
JNSAR is one such option. You could combine them with +ve and -ve divergences of Hour charts for fine tuning.
The idea is to do less but make more for which patience and belief in our own study is important.
Indicator reading is to be done judiciously and only when it is required..mostly at the extreme points.
Do not attempt to look for a perfect system. There isn't any. The right approach is to weigh the risk-reward and plan a trade with your own parameters to be fulfilled to initiate a trade. Market never will leave you behind and run off as long as you play by the known technical studies and even if they do, one miss will not harm your wealth.
Last month was a pause month and still one could have made something out of trades provided they part booked and reversed the trades promptly.
There is a misconception that by the time we get all the signals to buy or sell, market would have run off far away. Our system should be made in such a way to reduce such large time gap and while doing so, some whipsaws may creep in which need to be managed with small stop losses.
In a year, if you can capture 6 to 8 large trades and manage the remaining trades with part booking and stop losses, you will get rich slowly.
To do well in the markets, be aware of your emotions and stay on top of them. Our emotions will teach us a lot if we stay conscious of them and not get carried away by them.
Be greedy when you are right and be fearful when you go against your own methods.
Learn before you start out to earn...

Nifty, holding above 38% retrace @ 5767, extends gains.

2013-06-17T15:58:00.001+05:30

Nifty Intraday Update-II

2013-06-17T14:03:00.000+05:30

Nifty Intraday Update-I

2013-06-17T12:20:00.000+05:30

Nifty Pre-Market View.

2013-06-17T08:06:00.002+05:30

Holding 5751-67 is good to continue this rally.
"5836", 10 dsma being the first resistance & "5862-70", 61.8% & cluster resistance.
I'll share, from now on, most of my interactions with readers here for the benefit of Beginners.
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If you really want to take advantage of your intelligence, you need to keep away from market men and if you can not stay away from them, then stay detached.
There are two parts to your trading.
One is your analytic part which observes, deduces and then makes a strategy.
The other is the "dumb trader" who methodically executes the plan.
These two should stay separate. Having known many traders and myself in the early years, all the problems start when "both sit together" which opens up unending possibilities and ends eventually in "misses & losses".
You have to develop calmness. You just can not get excited about spotting a divergence or a pattern. You have to be mechanical about "exploiting such opportunities" in a cold, calculating way.
You have to tell yourself that your "goal is making money" and not "just spotting & being right."
Take it slowly. There will be 1000 opportunities in a year. Just capture 50 to 100 of High probable ones. Dig into your years of experience and discriminate between gambling and "well thought out-high probability trading plan".
Knowledge is good only if applied well. You need not trade everyday. Patience is the key here. Just like the "Crane which waits for the big fish letting go all the small fishes", you need to wait for such good trading patterns that emerge after an extended market at extremes showing divergences and sell into strength and buy into weakness.
You tone down your expectations. If you make 500 out of 10000, try to protect it. And build on it slowly. Skim away some profits. Build your trading a/c slowly.
How many times it has occurred to you that if only I have waited for this moment..So wait..
Get Rich slowly and quietly.

Pretenders choose the easy path...but fail always.

2013-06-15T06:50:00.003+05:30

A man who knew me used to cut lawns, collect grass and sell it for the cows and buffaloes to eat. This is how he earned his living. But he thought, "Swami Rama enjoys life without doing anything. Wherever he goes people bring flowers, spread carpets, and even give him a cottage to live in. People clean and cook for him and take care of all his needs. It must be very good to be swami".

He said to his wife, "I propose to do an experiment. For six months, I will pretend to be a swami".

She complained, But I need money. You have to look after the family".

He replied,"Whatever money people give me, I will turn over to you".

He saved a little money, bought the proper clothes, and pretended to be swami. For the first three days, nobody asked him if he was hungry. He felt insulted because he saw that many people were coming to me and putting fruit before me, although I was not eating it. (If people bring me anything, I pass it on. In this way, I am free from any obligation. They are expressing their love by giving it to me, and I am expressing my love by giving it to someone else.) After seven days, he had lost a great deal of weight and had yet to make any money.

At night, he would quietly visit his wife. She said, "what a foolish man you are. You were earning quite a lot of money, and now you are not earning anything. Why don't you at least go to swamiji and ask him the secret of his success?"

So he came to me in the garb of a swami. I said, "Swamiji, please come forward."

He said, "Sir, I want to ask you a question privately". So I asked the others present to please wait outside.

He said, " I want to know the secret of your success".

I said, "I am not aware that I am successful. In what way do you think I am successful?"

He said, "Without asking for money, you get money. This cottage is at your disposal. Drivers come for you. Many people come and sit with you. Why?"

I replied, "You know, when I wanted such things, they never came to me. But the day I determined I didn't want them, I began getting them".

Remember this, as Swami Vivekananda says: "Fortune is like a flirt - she will run away from you when you want her, but if you are not interested in her, she will come chasing you."

-Source: Living with the Himalayan Masters by Swami Rama.

Nifty makes a ST reversal in Day T/F with an "Island reversal" pattern.

2013-06-14T15:41:00.000+05:30

Nifty Intraday Update-III

2013-06-14T14:03:00.000+05:30

Nifty Intraday Update-II

2013-06-14T12:03:00.000+05:30

Nifty Intraday Update-I

2013-06-14T10:04:00.000+05:30

Nifty Pre-Market View.

2013-06-14T09:01:00.002+05:30

Nifty gaps down again in its "(iii)"rd of the iiird wave..

2013-06-13T16:56:00.003+05:30

When you take a step back from the "Intraday movements", there is an orderly movement in the market on most occasions once a trend is in place; the chart has only once a "whipsawing phase".

To take advantage of the signals produced from Day T/F along with the higher T/F alignment, you need to have patience; you can develop that patience by "always keeping the larger picture in mind" while watching the smaller T/f movements.

If you have followed "Reading oscillators" from our "Labels section", you would not get unduly perturbed by the persistent "Oversold conditions"; the dotted stay of this lead indicator under the "20 mark zone" is another confirmation of strong trend; You have seen such dots in Hour., now in day....be watchful of it in weekly charts.

Before you make one comment., before you raise one more doubt, please read..read..and read again & again the write ups under "Applied technical analysis", "Reading Tech Table" and many other write ups in this blog over the past 5 years. "These colours don't lie".

I have not been keeping well since Sunday and this silence has brought out the "Best" in some and "worst" in some. We, all, learn something about ourselves everyday. Let us not judge ourselves harshly. Start a new day but with good preparations.
If you read the good stuff, store them and reread them when your confidence gets lower.
Those who learnt the "Pivot trading" last week, would have benefited applying the same this week.
For the current week, God himself has chosen for me this "silence" which fits quite well for 3rd wave.
Make the most of your stay here.

Nifty Intraday Update-III

2013-06-13T14:04:00.002+05:30

Nifty Intraday Update-II

2013-06-13T12:12:00.002+05:30

Only when trust happens, "Following" is possible.
I did not mean here for you to trust me but "Trust in Yourself"

Nifty Intraday Update-I

2013-06-13T10:11:00.002+05:30

Nifty Pre-Market View.

2013-06-13T08:12:00.001+05:30

Trusting is so much essential to lead a good quality life.
In trust, love blossoms...
In trust, friendship flowers...
In trust, businesses flourish...
My son was finding it difficult to wear his newly bought contact lens...
I told him "just trust"...and soon his eyes allowed him the foreign object..
You have to let go so much to trust because you carry so much emotions and conditioning whereas a child do it instantly.
Think about it well..
Only when trust happens, "Following" is possible.