Trading Strategy for Nifty Future-04th October’10

Losing traders often take themselves quite seriously and seldom find humor in market analysis or the trading environment. Successful traders are often the funniest and most imaginative people you will ever meet. They take joy in trading and are the first to laugh or relate a funny story. They take trading seriously, but they are always the first to laugh at themselves.

CONCLUSION:Its no wonder that one of the first things psychiatrists test for when treating a patient is whether or not the patient has any sense of humor about his affliction. The more serious the tone of the individual, the more likely that insanity has set in.

Above 5566….Target intact of 6336-6593 level !!

On Going is 34th Month from High of 6336 & This week will complete 144 weeks from High of 6336.

(Major Turning …Not ruled out )

I know u all missed rally from 5356 (Low level )…Kissed Trendline and Taken U Turn.No worry @ all.

But…..Why u all missed EXPLOSIVE rally of life …Once it closed above 5566 for 3 days and then Weekly close was also given.

-In Just 15 sessions it flared to 6184 level-

Jump of 618 points !!

On Friday it was Boldly written :Small Triangle formation had occured !Today or by Monday……..Exactly will come to Know :Nifty Future will zoom to kiss 6200 or will crash to 5800 level.

-On Friday itself……zoomed by 154 points !!!

-Again ,Iam writing here…Not interested to Impress anybody…that this happened that happened….(It’s by God Grace and Hard work only ).Levels ,Time will not give u money :U should have Strategy and Trading is an art (90% will never earn …it’s my challenge )

 New High this week ?

Can Happen……Once NF crosses & closes above 6253 level…..will zoom to kiss 6291-6336+ level.

Today ,Just watch :6189-6197

Crossover above these levels…….More Firework upto 6221-6229 level.

& there after :6253 level.

Suppose not crosses Friday’s High ( 6184 ) and Remains below 6170……then Intraday slide upto 6129————–6115 not ruled out !

Major Support at 3DEMA :6100 & 7DEMA :6048

(Untill and Unless ……Powerful Intraday Reversal …not occuring …No need to go short in Big Qty !! )

Writing/Barking…Since NF closed above 5566 level….it will kiss 6336-6592 level.

Daily Chart may Look……..Overbought

But Weekly chart………Still Hot !

& Monthly chart indicates………more Fiery move on card !

I will Update more to our Subscribers …During Trading hrs.

Updated at 6:57/04th Oct/Baroda/India

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