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Reliance to decide trend of market


RELIANCE : Below 997 level.Stock will crash to kiss 960-948 level.

-In panic around these levels ,U can Buy small qty.

-If Judgement is in favour of Reliance then stock will not break 948 level.And sharp rally not ruled out.

RNRL : 61-59 are support.Laxman Rekha at 76 level.

 Break below 59 with volumes will take  to 56-51 level.

Above 76,Nonstop rally upto 83-85+ level.

I will update more during trading hrs ,Free advice :Don’t trade till Judgement is out ,Iam telling …you all will save Tons of money.

Updated at 12:59/07th May/BARODA/INDIA

When all you have is a hammer,everything looks like a nail.

HAMMER-NAIL

The same can be applied to trading. 

 When all you have is the “OPPORTUNITY” to trade, sometimes traders  find themselves clicking into trades just to be involved with the markets.

 Do you find yourself making acceptances for your trades that are not in  your plan? What causes this? Is it a need for action? Is it a need to be  right? Is it a fear of missed opportunity? One of the reasons many traders  struggle – over trading or forcing the trade. (more…)

Gold :$ 1141.50 is Last Hurdle

GOLD-3rd March

In my last update on 20th Feb’10,I had written it will face Hurdle at $ 1134-1141.50.It kissed $1131.50 & crashed upto $ 1088 level and there after taken U-turn.

Again Yesterday made high of $1137.60.

Now ,What to expect ?

Just watch $1141.50 level.Two consecutive close above this level will take to $1164-1171.50 level.

-Don’t panic  at lower levels.

-I will update MCX levels to our Subscribers.

Updated at 6:34/3rd March/Baroda

13th and 26th Week major turning ,5566 is Laxman Rekha

-From High of 6336 ,Already completed 118 weeks

-From low of 2228 ,Already completed 76 weeks.

26th week is very crucial.

13th week is also turning point.

Yes ,On 26th Week :Nifty Future will complete 144 weeks from high of 6336

And on 13th week will complete 89 weeks from low of 2228 level.

My Ultimate target and Laxman Rekha is at 5566 level.

Last week NF created History by closing up for 9 consecutive weeks.

-So will it continue for another 4 weeks ?

-Next Fibonacci number is 13.

I will update more to our Subscribers.

Updated at 16:36/11th April/Baroda

Timing

timimg

Timing your entries and exits is crucial to your success as a trader. The charts and price action tell you when the time is right. You just need to pay attention and recognize what they are saying.When you can simplify your information sources down to only a few then your task will become easier. After all , how many indicators do you really need when the chart shows it is going up and the markets show they are going up? How much confirmation do you need? And confirmation of what? The future is unwritten. The more you wait, the farther way the prime entry/exit spot is moving away from you. The more risk you take on. More risk can play on your emotions. Indicators are always behind the times. I view them as pretty useless. The price on the chart and the candles are my REAL TIME indicators. Sounds simple and it is.So if you have simplified things in the manner I describe, the next item to truly believe in is probabilities. I (and everybody else) don’t know what is going to happen in the future. However, I know that profit taking will happen after long trends, pops, drops etc. Trading the probability of a reversal after a extended uptrend when the candles are getting shorter, volume is dropping off and the overall markets showing the same is only taking the view that gravity usually takes effect and that the stock will drop. This is timing the market. My mind is not encumbered by hopes, dream and predictions of what will happen. I think of only the probability. There is a huge difference between the two psychologically after you take some losers in a row. I don’t take the losers personally as a reflection of my poor judgment. I just think that it’s the law of probabilities playing themselves out and so I can go into my next trade opportunity unafraid and without hesitation.

Trading Strategy for Nifty Future -20th April ‘10

The wealth process. Exploring your relationship with money and why you do or do not have enough to trade with. For example, most people believe that they win the money game by having the most toys and that they can have it all right now if  their monthly payments are low enough. This means that they save zero dollars and  are over their heads in debt. If this is you, it also means that you don’t have enough money to trade.

-From 5398 it crashed to 5162 in 8 sessions.

Yesterday it was mentioned 5167 as crucial support level and I expected U-turn from this level…but cracked by 5 points and reversal happened.

-Updated Intraday levels too and they are valid today for today’s session too.

Two Consecutive close below 5169 will take to 5032-4986 level.

-Don’t trade blindly ,Just read twice the mentioned levels.

Now ,What to expect for Today’s trading session ?

*5221——-5236 are Hurdles.

(Levels not to be changed everyday ,Like TV & Website Jokers are doing )

-Now if crosses 5236 level with volumes and stays above this level for 5-10 minutes then expect fire work upto 5280-5295 level.

Support at 5190,Break will create panic upto 5174 ,5158 level.

Hourly chart indicates from 12:30 to 14 hrs.Bulls will control the Market.

Use Commensense ,Above 5236….Don’t remain short.

If breaks 5167…Negative impact.

Above 5236…No worry for Bulls and policy will favour Teji wala.

 

I will update more during trading hrs to our Subscribers.

Updated at 8:19/20th April/Baroda

EURO :Will slide to kiss 1.1644 -1.1435

Above is the Qtly -Log chart.

After hitting high of  $1.60 July 2008 it had crashed to $1.23 in Dec’08 & again rallied to $1.51 level.

Looking Scary :101%

Wave 3 -Downside started

1:1 indicates it will slide upto 1.1435

1.618 indicates will plunge to 0.914 level.(Long term)

My Box chart indicates Below 1.2132 level……..Last Hope exist at 1.1644

From ,What level Iam Bearish in EURO ….just search the blog and u will get the answer.

101% Panic to Continue….On Rise ,Sell Sell Sell.

Do u want to know Trend of Any Pair ,Just send me

[email protected]

Updated at 12:35/07th June/Baroda/India

 


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