Hi All

Hi All,

I will not be able to post as such because of some problems in my net conncetivity. It may take almost a week. Wish you all a Happy Trading.

EDO Update Dec 22 2010

Jingle Bells Jingle Bells Jingle all the Way Santa Claus is Coming Around Riding On a Sledge -----

Till yesterday i was somewhat bearish but today i have turned into a bull. The reason being today's fall was on low volumes above all it lacked the conviction to move nifty lower. All in All a neutral day.The whole day NF move in a very narrow and at last just to create panic among retailers touched 5980 and retraced back. Surely NF is approaching for a Santa Claus Rally.

For tomorrow to 6027 and 6040 are minor hurdles above which 6094 maybe achieved and strong support exist at 5964-5940 level below which panic would be there. As such Again an oppurtunity to buy tomorrow if we open around today's closing or do a gap up or gap down. In all cases just buy as NF is poised to move higher

One can take small qty of 5900 put as a hedge but before making further lows we are definitely touching 6094-6120 levels then may move down by expiry.

Ought,Thought, Sought,Caught, Bought

A dry day as such with no conviction on either side.ORB gave a buy but still NF didn't manage to do any miracles with extremely over bought readings. Volatility is drying day by day. Looks like all are away for a Christmas. Can we expect a Santa Claus rally when all are away. Today somehow NF has managed to close above 5987 NF and Tomorrow may give a more indication of where are we heading. I will be bullish only on a close above 6040 NF.

For tomorrow the resistance comes at 6027 NF above which again a hurdle at 6040 NF and above it straight way to 6074 NF. Support lies at 5987 NF and 5965 NF below which ruthless hammering may take place. Trade the range till we get a direction.

Just an idea Buy 5900 put at 30-40 for a target of 80-89 by expiry and yes no Stop Loss for the trade.

EOD Update Dec 20 2010

Are we heading for the Third World War

Looks like as of now as The UNO has failed to ease tension between the two Korean nations.Today too was a great day as NF gave exactly 100 points gain since the morning. I was expecting 6040 NF today once it crossed 5987 NF but in vain ... We stand at the same level where we were on last Thursday but now the bias is bearish in my opinion. It may happen that we may open gap down or gap up owing to the global news.I would suggest to go long only if NF closed above 6040. Till then either remain away or sell at the higher levels or resistance.

For tomorrow also 5920 is the support where buying can be done with a SL of 5880. But if we break 5920 NF or trade below it then surely panic may take NF to 5840 - 5790 NF.Fingers crossed. As such today I clsoed all my positions and would take a call on market tomorrow only.

A Power Packed Week Ahead

Come Monday and a Blast is sure

The RBI meet though was a non event day with no rate cuts it managed to influx 47,000 crore rupees in the the liquidity dry system. Every month the banks are giving loans worth 1 lakh crore so a liquidity crunch is definitely there in the market.Hope so RBI takes the right steps. Thursday was an eventful day as is has converted the bearish sentiment into bullish one. What a day after the low made NF rallied to almost 100 points without even pausing at the resistance -------- IMPLIED BULLISHNESS --------. Monday would be a day to remember with NF rallying to almost 100 -150 points in my personal opinion.

For tomorrow with 5920 NF and 5880 NF as the supports try to buy as much as you can as tomorrow is surely going to be a gap up day and we would be scaling 6040 -6090 -6141 by tomorrow closing session.Now the support of  5840 has moved to 5860. So the trend is up till the 5840-5860 NF region doesn't break.

RIGHT EFFORTS

A giant ship engine failed. The ship's owners tried one expert after another, but none of them could figure but how to fix the engine.

Then they brought in an old man who had been fixing ships since he was young. He carried a large bag of tools with him and when he arrived, he immediately went to work. He inspected the engine very carefully top to bottom. Two of the ship's owners were there, watching this man, hoping he would know what to do. After looking things over, the old man reached into his bag and pulled out a small hammer. He gently tapped something. Instantly, the engine lurched into life. He carefully put his hammer away. The engine was fixed! A week later, the owners received a bill from the old man for ten thousand dollars. "What?!" the owners exclaimed. "He hardly did anything!" So they wrote the old man a note saying, "Please send us an itemized bill."

The man sent a bill that read:
 

Tapping with a hammer...... ........ ......... $ 2.00
Knowing where to tap......... ........ ........ $ 9, 998.00
 

Effort is important,
 

But knowing where to make an effort makes all the difference!

Source : Unknown

EOD Update Dec 15 2010

Today again a pause day with no conviction on any side.

Today since the opening subdued selling was visible in the market. Banking sector was beaten to a large extent As such looks like before tomorrow's RBI meeting people are shying away form the banking sector. I am of the of the opinion that after tomorrows RBI meet It will be the Bank Nifty which is going to rally the most and take nifty too along with it. As I am expecting a Rate Cut tomorrow.

For tomorrow 5840 is the support below which we may visit again 5750. But as such i would suggest going long again if we get 5840 for targets of 5940 - 5987 -6027 NF.

EOD Update Dec 14 2010

Happiness is not a Journey Its a Method of  Life ...

Today was a pause day after two days of good run up . NF is stabilizing here what i can infer from today's action. If you closely watch today's action every dip of 20-30 points was bought into.Once NF managed above 5944 it consolidated most of the day in the same range with some whipsaws. The momentum is clearly in favour of bulls. Also SBI and Reliance were the lead today.Look at the charts a bullish hammer with buying at the support levels.Seems we may move to 5987 -6040 NF take a pause till 5880 and then again go for an up move till 6140.

For Tomorrow 5972 NF would act as resistance and above it 6027-6040 NF where a pause can happen. Support exist at 5940 below which we may visit 5888 NF. Look for buying in sharpdips.

EOD Update Dec 13 2010

A stupendous show both by the bulls and bears ..... & .... the credit goes to Bulls.

Today after the morning panic and sell off just owing to some rumors of  Korean shelling NF managed to make a double bottom intraday and just cleared the major resistance 5844 NF and then 5885 too. Today NF has closed above the upper band of the trading range. It suggests that NF wants to move higher.Look at the charts a clear breakout with volumes above 5880 NF.

For tomorrow supports exists at 5880 NF and below it 5844 NF. Look for buying near the supports for target of 5987 - 6040 -6141 NF. It would take time but have patience as Patience pays.

On leave for training

Hello Friends

I am on leave probably till monday for traning.So would not be able to post.

I my opinion we are near the lows and buying is suggested for a rally till 6140 NF.

Wish you all a Happy Trading.

EOd Update Dec 8 2010

Bulls again at the mercy of bears

Today visible selling/profit booking was seen in market. But the selling was not that much severe every long got the oppurtunity to exit at cost.Below 5987 it was real pani in the market. Market took decent support at lower level but  buying was not visible.I would suggest going longs at the support level for immediate target of 5966 5987 6030 NF.

For tomorrow 5930 NF would act as resistance and above it 5987 NF is the visible target . Below today low panic again towards 5840 NF. Look for buying at supports as still the up trend is intact.

EOD Update Dec 7 2010

Oppurtunity will always come without knocking ... We just need to have the eyes to see it

Today too it was very simple to buy at the support level. After the morning panic NF retested the lows and managed to close in the upeerband of trading range.For me we are slowly drifting upwards and by next week a breakout is definite on the upper side.

For tomorrow 6047 NF is a tough resistance to cross but if crossed then straight way to 6090 NF. This time its crucial at 6090 NF as we have to watch the prize volume behaviour at 6090 NF. The reaon is that if the supply gets exhausted then surely we would retest again 5987 NF and 5925 NF & any how if the supply comes in then straight way to 6140 and the journey would continue.Look for buying near 5966 NF for upper targets.

Today again my terminal has been not loyal to me so sorry for the charts.

EOD Update Dec 6 2010

Miracles do happen we have to believe in it .

Today after the morning high nifty got resisted at the crucial juncture of 6090 -6095 NF. A nice 100 point on the short side.One thing peculiar of today's fall was that it lacked the necessary volume. We may trade in this range for this week and by next week would break out on the upper side.

For tomorrow resistance lies at 6027 - 6047 NF and above it we may again move to 6090 NF.Only a good break out with volumes at 6090 NF would lead to the immediate target of 6140 NF. On the lower side 5987 NF and below it 5925 NF are the support areas where we can again go for buying. We know now that we are in trading range so now trading becomes easy as buying at the support and selling at the resistance. In the money call and puts can give decent 50 point profit on both sides.

Monthly Chart of Nifty

Look at the monthly chart of Nifty ... A clsuter of Resistances at 6050 and above it 6180 ...

Hold all longs with 5950 - 5850 as the formidable support. The chart is self explanatory

Sorry for the late posting.

EOD Update Dec 2 2010

It winter and Nifty too is shivering ...

Today was a cooling day after the great 250 points run up.After a gap up NF moved in a very tight range today. A little bearishness has creeped in but it needs confirmation.The charts indicate that in the morning itself a good profit booking was there but sellers as such are exhausted at this point.Tomorrow too the morning ORB would give a nice trade of 50 points i.e above 6031 NF or below 5991 NF.

For tomorrow too 6041 NF is the resistance to cross above which NF may zoom to 6076 - 6090. Above all these levels we would be in a completely bullish zone. I expect selling to start form 6076-6090 NF level.

EOD Update Dec 1 2010

What a Day ... Trending only Up ....

Needless to say we are just moving up up up and up. A classic example today of clearing all resistances. The chart itself is self explanatory.

For tomorrow 5950-5960 NF is the formidable support where buying can be done for targets of 6041 NF and above it 6141 NF.  6041 NF may invite some selling to be absorbed at 5950-5960 NF. 

The trend is with you just enjoy till its over.