Sunday, July 31, 2011
Last Weekend Post had these lines as opening statements -
"Nifty is at an important juncture of trading which may decide the short term as well as medium term trend in this week or two. It seems to be coming out of consolidation, now whether it is sustainable or will give a false breakout to sink later is to be seen. "
and this as closing one -
"Bias is towards long now but cautious trading required to avoid getting trapped as indicated. "
Nifty came out of consolidation from the Trading range of apprx. 5740-5500 last week.
It also did give out a false breakout on Monday, giving a 12d high close but sank later below 5500 and 50dma , giving the lowest closing after 25/06/11.
Since the initial Analysis was Bullish last weekend but the above statements were at the hindsight due to various Resistances ahead and expectation of reversal , so the update on Monday eod suggested to keep a SAR of 5635 which came into play right the next day and obliged the whole week further .
Hence always remember the Quote above - " We cannot change the cards we are dealt ,
Just how we play the hand " . It emphasizes preparation , awarness and flexibility that will only help lock in profits and survival in these dynamic markets .
The Technical structure of Nifty has been altered or say reversed compared to last weekend. Now for the analysis of indicators as of today for further trading probabilities-
Saturday, July 30, 2011
Monday, July 25, 2011
Wednesday, July 20, 2011
Tuesday, July 19, 2011
Analyzing the probable Short Term path of Nifty by Elliott Wave Analysis in corelation with Fibonacci levels , Moving averages ,Volume Profile, Patterns and Option analysis.
Sunday, July 17, 2011
Nifty is in consolidating phase as metioned in last weekend post. Nothing much has changed on the broader technicals . The consolidation may continue for this week too, testing and rewarding the patience and discipline or can give a breakout trade one way. Lets check the Technical Insight for this Week .
Thursday, July 14, 2011
As posted in Weekend Post and last Update , we are in a correction within a correction of Higher TF , hence Whipsaws and Test of crucial levels are expected.Today was one such day where the Weekly SAR of 5625 got whipsawed .
Now for Tomorrow's trading one can consider following -
Tuesday, July 12, 2011
Sunday, July 10, 2011
The coming Trading period for the Next Week (or two) may be quite tricky as the sustained upmove since 5195 slowed down last week ,made a dash to 200dma and corrected down. The next phase will be the Tug of War ,Testing of Levels and Whipsaws.
This beautiful Slideshow was sent to me by Dr. Kumar ( Kumar Tecnicals Blog ). Please view it on full screen and learn the message Nature has to give us. Try it out in your Life and feel the difference .
Saturday, July 9, 2011
Sunday, July 3, 2011
There has been a consistent Upmove since the recent low of 5195 and Nifty is looking overheated . There may be some cooling down before any move of consequence unfolds . In general, the Next Week may be of a short term correction and consolidation within a range. Let us checkout the Trading Insight and important Levels for trade now .