The never-ending journey of Emotions... ! ! !

Completed 13 years in stock markets today...

I used to wonder, when prices go up or down and why?

But, realised that be "Reactive" and not Proactive in markets..

Let the markets tell you where it wants to go..

Treat them like the indicator on a Railway platform, to board the right train and enjoy this never-ending journey of Emotions...

This is my understanding of the markets in last 13 years.... And let me confess... it's just a drop in the ocean... Much much more to come....

An Evening Star . . .! ! !

Hi All,

Nifty trailed stopped out at 8800.....

As expected in the morning, Nifty took resistance near 8850-8860 mark and fell almost by 50 points since then.

On the hourly charts now, Nifty has firmed an Evening star like pattern which is bearish in nature, also the weekly chart observation of a shooting star pattern gives more reasons to worry for bulls now. Moreover if the markets closes near the 8800 levels, even the daily char will form a shooting star pattern.

On the lower side 8780-8750-8720 and finally 8675 will hold key for bears and if these levels are broken then a Trend reversal is almost certain...

Hence, it is advisable for bulls to book profits in Longs and wait for a suitable entry.

Cheers

Move wearily

Hi All,

Nifty longs trail Stop loss below 8770....

Cheers

On the move . . . ! ! !

Hi All,

Nifty up by more than 70 points from initiation now... Traders having multiple lots can book profits with every 25-30 points up move.... others can keep trailing stop loss below 8750...

Hope you all made money...

Next hurdles for Nifty near 8830-8860-8900-8945-8970

Cheers

Hrishi

Book partial profits ! ! ! !

Hi All,

All traders, book part profits near 8750 and trail SL below 8700.....

Cheers

Play safe . . .

Hi All,

Low risk traders, who don’t want to take overnight risk can book a small profit of around 20 points in Nifty near 8731-33, rest can carry an overnight trade with the original Stop loss...

Cheers

Bottom fishing . . .! ! !

Hi All,

As expected, Nifty yet gain took support near the Supertrend area of 8690 levels and is showing some signs of strength on hourly and 15 minutes charts.

Risky traders can think of going Long in Nifty @ 8715 levels, with a stop loss below 8685 and targets being 8750-8785-8810.. (all spot levels)

Cheers

The War is on. . . . ! ! ! !

Hi All,

As expected on Monday, Nifty did not break 8700 levels and witnessed an initial bounce till 8740-8750 levels, however could not sustain the same and closed near the day’s low at 8715.

On daily charts Nifty has taken support near 8700 which is also the Supertrend area, however, on weekly charts Nifty has given a bearish candle Shooting Star on Friday, and Monday’s gap down opening also confirms the pattern.

On hourly charts Nifty has created a Bullish Hammer like pattern, which is a ray of hope for bulls, and that is the reason 8700-8690 levels will be very crucial to watch out for on closing basis,

Hence going forward, for any substantial up move Nifty should first surpass the recent high made near 8960-70 levels, else every rise can be a selling opportunity for short term. Medium term outlook will be positive until Nifty trades above 8500-8600 levels.

On the lower side supports will be near 8690-8620-8570-8500 and the resistances will be near 8750-8780-8860-8910-8970.

As there are contradicting signals on different timeframes, market are expected to be choppy, hence trading with proper stop losses is a must.

Cheers

Channel Changed ! ! !

Hi All,

As mentioned in the previous post on Friday, Nifty was trading near the upper end of a rising channel, and a healthy correction can not be denied.

Following the same prediction, Nifty is about to open gaped down by more than 100 points and the crucial support to watch out for will be 8700-8760 levels below which Nifty can even go further down till 8570-8620 levels.

Though the bias for markets will be buy on dips, a confirmation on chart is mandatory before going long after such a huge gap down opening.

Will update you if there comes a trading opportunity. 8700-8760 will be the levels to watch out for.

Cheers

Hrishi