PASSIONATE TRADER

A value trade - worth spending 10 bucks

2012-01-19T19:17:00.002+05:30

Comments are there in the chart.

Stay out of the market if you are unable to decipher its trajectory

2012-01-16T11:46:00.001+05:30

This is what i have been doing since last one month.

I am not clear about the market direction so will wait for few clues to emerge

Will upload as soon as i see some kind of trend emerging.

HAPPY NEW YEAR TO ALL WITH A RESOLUTION

2012-01-05T21:25:00.003+05:30

HAPPY NEW YEAR.
BACK FROM MY LEAVES.

NEW YEAR RESOLUTION....

ONLY ONE RESOLUTION TO MAKE MORE MONEY THIS YEAR.......
RISK BIT MORE ...HAVE LESS LOSS ....AND LET THE PROFIT RUN.....

LOOK SIMPLE BUT VERY DIFFICULT TO BE DISCIPLINED.....

WILL START POSTING FROM 9TH MONDAY ONWARDS.

Currnet fall does not look impulse down to me

2011-12-15T20:14:00.003+05:30

Current fall does not look like impulse down. Evey day opening gap down and then market fills up the gap. If this is corrective down as shown in the chart another 5 upwave may be waiting . Will try to buy this upmove. If that happens minimum target is 5100. Obviously traders need to be ready to change the view like a chameleon changes its colour. At the moment I would like to go with the counts shown in the chart. So is the trade recommended to buy.

Market is Ready for a Huge Rally

2011-11-14T07:55:00.002+05:30

Comments are there in the chart.

Nifty update for 11/11/11

2011-11-11T08:31:00.001+05:30

Comments are there in the chart.

Strong support at 5200 and strong resistance at 5400. Which one will hold?

2011-11-08T08:28:00.005+05:30

Comments are there in the chart.

My title gives me the trade so not going into much details. I know 5200 is strong support and market if trade above 5280 I should be the buyer with 5200 as stop loss. Going with the trend. Rest let market to decide.

Hold on to shorts

2011-11-01T22:17:00.002+05:30

Comments are there in the chart

A strong bear market rally

2011-10-31T08:06:00.005+05:30

A strong bear market rally. This can fizzle out sooner may be today or tomorrow. I will look at market this way for next two three days. Will like to observe how market behaves. As of now I do not want to change my main counts shown in the chart. If need arise I will change the counts. Forgot to add to the chart that market has many gaps which are unfilled on its upward journey recently . And the recent gap what we have seen may become an exhaustion gap which has more chances to get filled in...Let us wait for market to show some signal of weakness and i will update the short trade. If this counts are wrong then alternative counts which are very bullish will not allow short trade to lock in. Keeping my fingers crossed......

Below 5170 remain short

2011-10-21T07:52:00.003+05:30

Looks like we are very near to some kind of confirmation where from here. either in a day or two 5170 will be surpassed or if not we see break below 5k. Let us see what market has to say. Comments are there in the chart

Preparation for the next trade

2011-10-18T09:18:00.001+05:30

Comments are there in the chart. No trade is recommended in the chart. But it is early preparation for the next trade. I will recommend trade sooner in the comments if any trade comes to my mind based on this chart.

Small risk on shorts looks good

2011-10-11T10:11:00.001+05:30

Comments are there in the chart

A perfect bear set up

2011-09-28T11:24:00.000+05:30

Earlier support may become resistance now

2011-09-23T08:58:00.003+05:30

Comments are there in the chart. To me I think we will have a fall today. But just to make sure we do not wipe out handsome profit we must have logical triling stop loss and here it is - 4911. I have explained the logic in the chart. If this is 3rd wave down according to red counts then market will keep going down and earlier support of 4911 will be now resistance.But if this is flat correction of earlier rally then market much make bottom somewhere here and start rallying. So 4911 I have suggested as a trailing stop loss. If market rally one may jump into buy but only after it takes out 5 day avg which is around 5050 and too far. So will not think about that as of now.

PS - I will have 4921 as trailing stop loss

Resistance is here to stay

2011-09-22T09:07:00.002+05:30

Comments are in the chart.

This is the same message I gave yesterday and same recommended bet I recommended yesterday. I think the trade with strike today with the set up

Will REsistance around 5200 hold?

2011-09-21T12:54:00.002+05:30

Comments are there in the Chart

Nifty update

2011-09-15T09:07:00.002+05:30

4911 is at stake

2011-09-14T11:48:00.004+05:30

Comments are there in the chart.

4911 is at stake now. Next support is around 4800 and it that fails to provide support then next support is too far. If that happens I will update more on the same.

May Bulls have a Say????

2011-09-13T07:00:00.007+05:30

Comments are there in the chart. What I want to say is that Bulls may say something from here so I have highlighted two levels. 4985.6 above which shorts must book profit so that becomes trailing stop loss for shorts(Logic discussed in the chart). Also one should get into buying if 5 day avg (5070-yesterday's 5 day avg) which comes down sharply to 5050 (today closing time) is taken out upside. so 4985.6 and 5050(will fill recent gap too) becomes important levels for bulls. 4910-4920 has provided support so far so if that is broken then next support is around 4800.

This chart does not have any recommended bet. But I have mentioned three important levels from which three bets are recommended. one is for trailing stop loss for shorts which is 4985.60, one for going longs i.e 5050 and one for adding more shorts or initiate new shorts below 4910.

Recommended Bets

1. Hold shorts with 4985.6 spot nifty as trailing stop loss.

2. Another important level comes from the chart is 5050 so Recommended bet will be to buy above 5050 with stop loss. I am yet not ready for this so i will update sooner if this trade is going into play. I will update stop loss for this trade sooner if market wants to take this trade.

3. Another recommended bet comes up from the chart is to sell below 4910 spot prices stop loss 4985.60 spot prices. This is based on the red counts as red count says a new fall may have started and has a long way to go as it will have 5 more down waves which may make a new low. Or if not at least market does not have any support below 4920 till 4800 so if support of 4910-20 is broken at least we can expect 4800 which means risk reward ratio is still handsome for short trade if that comes into play.

P.S. I will have 4990 spot nifty level as trailing loss . I always do that because I have read somewhere (I do not know which book) to have a stop loss 3 points above the mentioned level. sometime it works sometime it does not but going with the books I always keep my stop loss 5 points away from mentioned level.

Coming week will be challenging for bulls

2011-09-10T12:11:00.002+05:30

Comments are there in the chart.

A correction may have set in or Party is over

2011-09-09T13:54:00.002+05:30

Comments are there in the chart.

Maruti - Three inside days

2011-09-04T18:49:00.000+05:30

Three inside days. A very good set up with proper trigger and stop loss.
Comments are there in the chart
Whichever side it goes can give handsome money as Maruti is ready for a bigger move after few days of consolidation. I expect that move may come on the downside as trend is down and also Monday market is expected to open lower and if that happens maruti may open triggering the sell trade.
Which ever side market gives trade i will like to go with it keeping strict sloss. Risk reward ratio of this trade is handsome as very clear sloss of 19 points and if right trade is triggered can give more than 19 points. Triangle is of approx 80 points so who knows it may give 80 points after triggering the trade.

Profit booking day for MNM Long position

2011-09-01T21:48:00.003+05:30

Comments are there in the chart.

Next week Trading discussion

2011-09-01T21:22:00.006+05:30

No trade is recommended. I have discussed in the chart two possibilities which I can see and assume one may happen next week and will trade accordingly. I will miss the possibility 2 trade if market behaves that way as I am not ready for that trade.

MICHHAMI DUKKADAM

2011-09-01T18:06:00.003+05:30

After today’s Pratikraman it is customary to request forgiveness from everyone we know and meet by saying "Michhami Dukkadam". The idea behind it being that - "After requesting forgiveness from all living beings in general as part of Pratikraman, I do so one-to-one with you."

In addition to requesting forgiveness, one has to grant forgiveness too. Thus by forgiving everyone and requesting forgiveness from all we ligthen ourselves and our mind from past year's misdeeds."Michchham i (Mithya) means fruitless / forgiven and Dukkadam (Dushkrit) means bad deeds. Therefore the meaning of Michchhami Dukkadam is'My bad deeds be fruitless'. So the idea behind conveying Michchhami Dukkadam is that if I have caused any harm to you then may those bad deeds be forgiven, become fruitless
" KHAMEMI SAVVE JIVA:- I forgive all the living beings

SAVVE JIVA KHAMANTU :- ME I seek pardon from all the living beings

MITTI ME SAVVA BHUTESU :- I am friendly towards all the living beings

VERAM MAJJHAM NA KENVI :- And seek enmity with none.

NIfty - Did more than 100 points. - Bulls eye

2011-08-30T09:41:00.002+05:30

I expected 100 points in a day or two and here it is. Booked all longs in Nifty.

MNM is on fire

2011-08-29T19:55:00.000+05:30

Comments are there in the chart

A major bottom could be in

2011-08-29T09:55:00.004+05:30

Due to scarcity of time I will update more later but comments are there in the chart. Trade quick is the key. Have a strict sloss as we are trying to buy a bottom here. Comments are there in the chart.
Recommended bet to buy at current market price around 4845-50. sloss today's low at 4800 spot price. Target minimum 50 to 100 points from here. I will update sooner.

First sign of Trend Reversal in MNM after 8 days of downmove

2011-08-28T18:24:00.003+05:30

Comments are there in the chart. Somehow still long trade on mnm is on even after sell off in Nifty.

MNM Update

2011-08-23T20:24:00.004+05:30

Comments are there in the chart.

Hold tight. Sloss is marginally saved by few points. Gap is filled but still chart has not deteriorated to take a negative view. If tomorrow we do not have a higher high than 717 I will rethink on this position even if sloss is not hit.

MNM a long trading Bet

2011-08-21T20:28:00.006+05:30

MNM a long trading bet above 720 with sloss at 690. I have given different targets starting from 750 to 775 and 925 based on certain logic mentioned in the chart. I will keep updating the trade.

It seems to be a very strong stock on the chart creating higher bottoms.

Profit Booking Day for me

2011-08-19T08:34:00.005+05:30

Above counts are corrective and suggest to book profit and wait for other opportunity.

Last blunder trade took 300 points and this trade will give nearly 250 points hopefully. If this happens I will be very happy.....:)

Also If below counts are in process (I am not admirer of such bearish counts as of now) then shorts will gain much more but there also market will give opportunity to get into the trade again so I will upload below chart for the reference.

Important to note that even after the huge fall on Dow it has not made a lower low than last low. Out market already made the low> may be some markets are in 2nd wave down and some markets are in 5th wave down is possible. It does not mean that dow can't make lower low. It is too premature to say that but we can keep eye on the same to see market divergences.

Nifty did not allow buy trade. Can we go short?

2011-08-16T11:54:00.005+05:30

I think one last leg of bad news is around the corner and market is sensing it and not going above 5200. Also one should not buy below 5200 as of now so we have a very good sloss for the short trade . Now the question is whether one should short not. I have given check list in the chart itself. confirmation of short you will have below 5050 but then sloss will be much higher at 5200. I feel and recommend to short at current market price around 5100-5110 with sloss at 5200 and will wait market to quickly go below 5050 to confirm my trade. I will be ready to take small loss or small profit if in next two days market do not go below 5050. I will keep updating the trade. I was waiting actually for long trade but still no sign of that trade. Rather I should believe in 3rd wave down and atleast take few points into the kitty of 3rd wave down. So recommending short trade with sloss at 5200. I will quickly revise my sloss once my trade is in profit. I will be happy to takee small profit or small loss if market do not break 5050 soon.

Happy Independence Day

2011-08-15T06:06:00.002+05:30

I wish Happy Independence Day to All

Kind Regards,

Nirav shah

Buy Call - Check

2011-08-12T08:20:00.005+05:30

comments are there in the chart.
above 5 day avg - check
C wave possibility (bottom possibility)- check
Bad news are out (to create bottom this is a must)- check
Market oversold - Check
Logical sloss - check
Higher high - check(This is the one we need to check---last two days high is 5197 so buy should happen above 5200..... which means you are buying higher high)
One can add another check here(wait for first 15 mins range) buy if market breaks first 15 mins range upside.(Many traders follow this rule very successfully.)

Reversal is possible here. What could go wrong for long trade. Market opens gap up and fills the gap. Do not keep making higher highs.

Recommended trade buy above 5200 sloss 5120 (all spot nifty levels)

Preparing for a Motive rally

2011-08-04T09:20:00.003+05:30

first buy sign is above 5422(yesterday high)
second buy sign above 5450(it will break the wedge and also fill almost the gap created)
5 day avg 5470( above that nifty may attemp 13 day and 21 day avg)

I am expecting a motive wave so possible huge upmove can be seen any time.

Urgent update for Stop loss

2011-08-03T09:42:00.004+05:30

This is only for the ones who have not adhered the sloss like me.......But now no more as 3rd wave down knows no levels........it can go down with momentumm..........Whoever are stuck today is the only day market can reverse and bull can say something otherwise it is gone........Market has opened around 5490 spot nifty and low is 5485.......As I am writing market is around 5495 ......Hope is only 10 points ......bcoz it is possible C wave ends today....But that is only hope....Many things then need to confirm like 5 day avg ...closing gaps and much more which i will update if at all hope remains alive......lesson for not adhearing sloss. I changed it just by 20 points and now market is down more by 70. Initial trade was (buy at 5520 sloss 5450- only 70 points now sloss is almost double bcoz of not adhearing sloss...one could have used it for proper set up trade those 70 points rather then giving away for hope) It is painful ... let us see what market has to say....No more than today's low 5485...

Will the Debt deal go through ?

2011-08-01T20:13:00.003+05:30

Tomorrow either side ...Market will decide its trajectory. Today buy got triggered.

Comments are there in the chart.

Pause or Reversal ?

2011-07-30T20:09:00.007+05:30

Recommended bet - Be ready for any trade......

buy above 5520 sloss 5450...(Why? A new motive up could start after perfect zigzag correction....And trying to buy the bottom in the expectation that bottom is made.....Also risk reward ratio is much higher here, Also we have two dojis now at the bottom. Doji itself does not say anything but the next day actions says. ONe should buy above doji's top and sell below doji's bottom keeping other side as sloss)

What can go wrong in long trade?
Market does not go above 5600 sooner..........

.or

Sell Below 5450 sloss 5520(Why? Market is having its 3rd Huge wave down and small correction from 5450 till 5520 is done and new down wave will starts which can target 5320-5350, also Market has still unfilled gap on the way down from 5540 to 5520, Momentum has not picked up yet on the down side so possibility of momentum picks up is there below 5450)

What can go wrong in short trade?
Market goes down without volume or without momentum.......

Be ready for any trade.

Trailing sloss update for Shorts

2011-07-29T09:14:00.002+05:30

Comments are there in the chart.

Have a trailing sloss now for shorts that is what is says.

Bear Set up and Now a follow up....

2011-07-28T06:57:00.005+05:30

In the last post I highlighted that Perfect Bear set up is in and Now Bears will attack> I mean to say a follow up is required to show Bears Power. This attack will tell us how powerful the bears are. This will be acid test for 3rd wave down too. Market is expected to open gap down. Now short trade should have a trailing sloss. Trailing sloss should be either your entered price of short but it is painful when that gets hit as one does not make money even when he or she is on the right side of the market. I will suggest yesterday's close around 5540 should be trailing sloss bcoz if we have third wave down this gap is not going to be filled sooner........this becomes acid test for 3rd wave down. If that gets filled means we might not have 3rd wave down and possibility of tripple bottom is there. So hold on for shorts is advisable and as a plan B if 3rd wave does not work out is to stop out with profit at 5540.

I will leave you with Pitbull song Rain over me.......................

http://www.youtube.com/watch?v=SmM0653YvXU

Girl my body don't lie. Im outta my mind.
Let it rain over me

Im rising so high. Im outta my mind
So let it rain over me...

A Perfect Bear Set Up

2011-07-26T21:41:00.003+05:30

Comments are there in the chart.

Recommended Bet = Short Nifty below 5607 sloss 5702. A much bigger fall is expected.

Urgent Update

2011-07-26T11:20:00.003+05:30

Hi All,

It seems C wave ended and a new leg down has started. confirmation of which is break below 5607 spot nifty(5 day, 13 day and 21 day avg)

goood to have trailing sloss. I was having a feeling that something could spoil the party and that is when trailing sloss comes to help.

Now new trade is short below 5607 sloss 5700 where c waves seems to be ended.

This could be motive down wave as we have seen last upwave of 3 waves ended around 5700.

Acid test for 3rd wave up and a Trailing sloss

2011-07-26T08:37:00.003+05:30

I could not see momentum what 3rd wave should have since last two days. Will it be today?
Now if this is C wave i.e last upwave then it could over around this mark. and a market will unfold new leg down. But if this is 3rd wave up longs will not have to do anything. Just longs should hold and market will reward them. If this is 3rd wave market will keep going up. So the point I want to discuss here that right entry for longs is done around 5620 level> Now if one needs to have a trailing sloss to protect the profit or atleast not to have any loss. If entered price is kept as trailing sloss then no profit it made and it is painful so better to have some other logical sloss. I have discussed some levels in the chart to be logical trailing sloss. 5650 (trendline support and earlier resistance now can become the support) or 5680 both are good levels and logical levels for trailing sloss.

Also I have shown today 5 day, 13 day and 21 day avg converge around 5607 level. Many times i have seen market gives a blast move either side when averages converge. I do not know which side. so better to be on safe side and have propoer trailing sloss. If this turns out to be 3rd wave up then market even will not see 5680(yesterday's close). One way move is possible today....Best of luck. No trade is recommended today but I will recommend a trailing sloss for longs for sure. Otherwise I will urge to hold if trailing sloss is not hit as 3rd wave if entered on right side can mint money.

All Red did not happen.....All Green may be??

2011-07-25T08:17:00.003+05:30

Comments are there in the chart.

I was scaptical for all red from the day i posted as i keep thinking where market will behave at 5540 and 5 day avg. Both cant go agaist the trade if this is 3rd down so i stopped out short trade....This was discussed in the post anyway....But what is next in the store.

Trade will be to buy today's gap down open(premarket shows 20-30 points down opening ). Buy around 5610-5620 with 5540 as sloss. 80 points sloss.

ALL RED

2011-07-20T21:43:00.003+05:30

Last post was spot on for booking profit and jump in to a short aggressive trade.

It may go all red........So the comments in the chart are all red. IN yesterday's post I mentioned that sudden fall is possible if market breaks 5 day avg now and it has broken it and closed below it.

Now what can go wrong for the short trade that should be first in our mind.
1. If market do not break 5540 tomorrow.
2. If market stays above 5 day avg tomorrow i.e 5585

Targets are discussed in the chart

Trailing sloss update for long trade

2011-07-20T03:24:00.003+05:30

There are two possibilities in the chart. This upmove could well be some kind of 3rd wave and market can open gap up and run away and do not fill the gap. Here close price is 5613 so longs should have trailing sloss of 5613 spot nifty bcoz if this is not 3rd wave it will fill the gap and it is good for longs to book profit otherwise run your profit.

Another possibility shows this could well turn out to be last upmove in c of B wave and market then crashed down in some kind of 3rd or C wave down. Aggressive trades should in this case short the market below 5600(break of 5 day avg at 5590) with sloss at recent high what nifty creates> If short trade is click I will update the sloss too.

Note - Resistance line joining tops could restrict nifty around 5670 levels.

Lull before the Storm

2011-07-16T23:59:00.004+05:30

Comments are there in the chart. No complexity . Simple trade based on market action and logical sloss. I have not prepared simpler chart than this but still it says a lot.

Chart says to buy above 5632 with 5562 as sloss and it also says to sell below 5562 keeping 5632 as sloss. I have already recommended buy around 5540 with 5500 as sloss in earlier post and that trade is still in. I will not recommend a sell trade here which is shown in the chart bcoz market has multiple supports here .. 5540 to 5525 gap support, 5500 last low and also a possible double bottom at 5500. 21 day avg and 50 day averages are also in this zone so I will not recommend a sell trade unless 5500 is taken out downside. So that means I have biased buy recommendation......................................................................................
HOLD ON longs unless 5500 is not taken out downside. I expect a huge rocket speed rally upside.

ONe can trail their longs with logical sloss like 5540(gap support) or 5520 (gap started from 5523-5540 also 21 day avg )or 5560 (this post shows inside days bottom)as per the risk appetite and as per the entered long levels making sure little or no loss to the long position.

Long trade set up is intact even after yesterday's fall

2011-07-15T08:50:00.004+05:30

If I am right for this counts(main counts - pl see earlier posts) we have entered longs at the very bottom so hold on is the recommendation. ONe day was giving 100 points but that is not enough if my counts are right this is bottom and no one wants to sell and book profit at bottom.

Even after yesterday's fall all long set up is intact.

I suggested a buy trade around 5540 spot price with 5500 as sloss. Market jumped a lot from that level. If one has entered long at the very bottom trail sloss to the entry price. Short trade is not recommended unless market breaks 5500. One can have trailing sloss below 5540 (last two days bottom) instead of 5500 according to the risk appetite.

Risky but higher return long trade in nifty

2011-07-14T10:01:00.002+05:30

if this trade clicks you will be buying the bottom

risk of 50 points will fetch more than 300 points as if motive starts it will take out recent high

safe trade is once the gap is filled around 5612.
I recommended long trade around 5540 with 5497 recent low as sloss as we are near 21 day avg and we have unfilled gap here so there is a possibility market takes support here and rally to take out 5 day avg . one can add more above 5612 and play pyramid. But that story is far from here. Let us first it reach there. This will be bit risky trade for sure but worth to have a look at it as it will give much higher return

More comments are there in the chart

Buy RIL

2011-07-13T12:22:00.003+05:30

Some kind of 3rd or C wave is expected up in Ril. Buy above 860 sloss 840 first target is 880

Sloss given here is as per 2nd or B wave low. If this is some kind of c wave or 3rd wave it will shwiftlly go up. IN that case once buy is triggered above 860 one can have today's low as sloss. I will keep today's low as sloss rather than having 840 as sloss. as 3rd or C wave if ril is in then it should not break today's low too.

Will prepare for longs. NO to shorts now.

2011-07-13T08:57:00.005+05:30

I will prepare for long trade.Will wait for all set up to tell me to buy. Will wait for it.
I will not recommend any short trade now.
will not take part in last phase of corrective move rather I will like to take part in motive 5 waves up. I could be wrong. This might not be corrective down then market will not give signal to get me into buying.......Comments are there in the chart.

Profit booking in shorts if this is corrective wave

2011-07-12T05:55:00.003+05:30

Short was triggered at the break of 5660(5 day avg) with sloss of 5740.
Now one can trail that with 5660 as trailing sloss making sure that no loss or little loss to the trade. Today market is expected to open lower as dow was down by 160 points. So today we will have another gap down opening. I am sticking to my main counts which are bullish in nature and I will expect this down move to be of corrective nature. so to book profit in shorts is a right thing to do around 5500-5550 levels. So today could become a profit booking day. Book profit in shorts in panic...One can also trail their shorts around yesterday's close which is around 5615 level as if market wants a huge downfall today it will not fill the gap after opening gap down.

A bad Corrective Week --- May be

2011-07-10T08:50:00.003+05:30

No no to longs for a weeks time. then we see how market gives clues.
Short trade is recommended with 5740 as sloss. I still adhere to corrective as My main counts are bullish but let us see how this correction pans out and we can update counts and look at alternative counts which are bearish. As of now baby step towards the way down keeping corrective counts in mind. Sloss for shorts at recent top of 5740 spot. Other comments are there in the chart.

Which way?

2011-07-07T00:09:00.008+05:30

I have shown two trades that depend upon market action which trade market will tell us to go for.

One is buy and one is sell trade and both has got its logic in the chart. Buy trade is above 5 day avg and above Wednesday's i.e 6th July 2011 high and sloss is recent low of last 4 days which market has check two times but has not broken it.

Obviously viceversa is true for short trade. short below 5609 keeping 5 day avg and Wednesday i.e 6th July high as sloss.

P.S. I feel that this is a corrective wave down from 5700 so we should play it down and I think most probably short trade will trigger. But trade light is the key as correctives are always difficult to play. Keep taking profits after few points of gain as correctives do not give much chance to make money in their direction like motive waves.

Also remember that in the first chart I have not shown my wave counts. I have shown it in last few posts. This post just shows one general observation and it should not be confused with the wave counts.

Has the anticipated correction started

2011-07-04T00:02:00.006+05:30

First thing should be clear in the mind that this post is related with last few post where I have shown the motive wave started and now we could see the correction of that motive wave.
I could be totally wrong which will be confirmed if we have five wave decline rather than 3 wave decline so next week will tell us which way we are going. Right now the wave counts which I am following are attached and I keep updating them. If that changes I will discuss other counts but right now this seems good to me.

Correction was expected from 5700 level.. Now How far it can go no one knows . Trade light in corrective move.

Profit booking day for Longs.....

2011-07-01T09:04:00.003+05:30

comments are there in the chart why profit booking is advisable.

5700 next Destination??

2011-06-30T12:59:00.002+05:30

comments are there in the chart.....Looking forward for 5700...

Will we close abvoe 5600?

2011-06-29T07:40:00.004+05:30

Today could become important day as it could decide the counts further. I love when market gives confirmation by nullifying other counts and make road easier to follow with lesser alternative counts. I have discussed two counts in the chart. Black are bullish and Red are bearish. If market closes above 5605 today then Red counts become void and will add more confidence to long trade which is on now. What one should do is also discussed in the chart. How one should benefit from trailing sloss, pyramid playing is also shown in the chart.

In nutshell this chart says either market will do atleaset 5944 or we may pause here and close below 5605 then we have to ponder whether we will have correction of this rally from 5195 till now or we will have huge wave III down which is shown in the red chart. Let market to tell us. Follow trailing sloss which is given at 5540 spot level.

In the chart i have said that buy today's gap up with yesterday's low as sloss. Pl ready it as below.

Buy today if mkt goes above 5605(cash)with yesterday's close as sloss which was 5545. As if this is third wave gap will not be filled. This is the logic here for recommending long trade for pyramid trading. New trade is not recommended here as that will be risky as if this is not 3rd wave up then it could be 3rd wave down which red counts emphasis that you might be entering long at the top so no new trade but guys who are already long at 5300 can add 20 or 30% of more position with strict sloss at 5540 spot nifty.

Nifty went up like a Rocket? Is this a new start for motive wave up?

2011-06-27T09:22:00.002+05:30

comments are there in the chart.

HUGE RALLY COMING????

2011-06-23T12:10:00.003+05:30

Comments are in the chart. I will write sooner more for the trade. I will be long most of the time next whole year if 5170 is not broken. It is a longer term buy positional call.

As of now long at 5310 sloss 5170. this is positional long call and will buy more and play pyramid as if this is 3rd up we will have mad rally up as we saw in same cycle and same pattern. I will update more on same cycle and same pattern more in the blog.

Also within a fortnight or a months time i will privatize this blog so who are registered will be able to see it. There is no intention of any money involved. But due to some reasons I want my blog to be privatized for myself and only to the ones whom I know so whoever sends request for the blog I will contact them and then only add them to my viewer list.

Sizable moves downside? Revisit to 5350?

2011-06-10T22:42:00.001+05:30

comments are there in the chart.
Short trade is triggered. Sloss is very clear. Once trade is in profit keep have a trailing sloss.

SIZABLE MOVES IN NIFTY IS COMING SOON - CATCH THE RIGHT WAVE WHICH WILL BE MOTIVE WHETHER UP OR DOWN

2011-06-09T09:01:00.001+05:30

I will upload two charts. Comments are there in the chart. Trade is also shown in the chart.

Buy above 5570 sloss 5507 and sell below 5507 sloss 5570. If you are at right side will allow you to trade motive wave which will give you maximum profit. Keep checking unfilled gaps which will help you to identify 3rd wave. keep checking the momentum now which will also help you to allow to be on right side. Wait for this range to break and jump in.

Corrective up or Much bigger upwave...

2011-05-27T10:35:00.000+05:30

corrective up or much bigger upwave. Time will tell. But at the moment mkt looks bullish to me till 5348 holds. Long with 5358 as sloss for positional traders and day traders 5 day avg 5400 could be the sloss....comments are there in the chart. Both bullish and bearish count shows bullish take.....

Holidays make you lazy.........Let me start with Lazy song

2011-05-16T18:52:00.000+05:30

I will be posing from tomorrow onwards.

Back from holidays......................

Let me give you a nice song from Burno Mars.

http://www.youtube.com/watch?v=fLexgOxsZu0

Today I don't feel like doing anything.
I just wanna lay in my bed
Dont feel like picking up my phone
So leave a message at the tone.

Hope you enjoy the songs.............................................................................................

On my leaves

2011-04-04T07:53:00.000+05:30

HI All, Hope most of guys here would have either enjoyed 3.3 what i was betting since long or atleast not taken short position. Money not earned is still ok but money saved is money earned. so either way good going of same cycle same pattern I am on my leaves and will be back after a month's time. In meantime if some superduper trade comes to my mind i will upload it but regular updates after I come back from my leaves.

Amazing Gap Support

2011-03-16T07:53:00.000+05:30

Buy is given in the chart at 5500 with sloss at 5449(prices are spot prices)
yesterday when we had huge gap down i thought as per my last post we may see 3rd wave down instead of up. But gap got filled in and it seems we are looking for faster 3.3 upside. so is the buy call with yesterday close as sloss

Interesting 3rd wave up or 3rd wave down

2011-03-11T04:55:00.001+05:30

Which way now. Dow is down by more than 200 points but oil which is market trouble has cooled off. which way market can go no one knows but we have our set up. 5 day avg is 5510 so long trade is above 5510. otherwise one should wait for a short call as averages are aligned for up move. If it does not get up move then it could be huge down move but we do not have confirmation from averages as of now for a short trade but we know that if this down move comes it will be much bigger down move(as it could become motive down wave) so we will get chance to short when the set up allows to do so . until I will wait for market to show me its action. If market takes out 5510 again it is ready for big up move so we should wait for market to confirm that

Confused whether 3rd wave or C wave

2011-03-10T09:00:00.000+05:30

There are three possibilities.

possibility 1
we are in 3rd up wave confirmation of which will be trading above 5600 targetting 5900.

possibility 2
we have finalised C wave up which completed flat correction of last correction as wave 2 and another big wave down is pending confirmation of which will be new low.

possibility 3
we are in c wave of 3.2 and then bigger 3.3 will unfold

I will rather wait now for long trade above 5600

Averages lined up for an Upmove

2011-03-08T18:37:00.000+05:30

I was away yesterday and this morning so could not upload the chart but updated the blog from my mobile to buy above 5480 (as it was 5 day avg). Now one can keep today's low as sloss because if this is 3rd wave then it should not create lower low. Let us see what market has to say. confirmation of 3rd wave is above 5600 so i will add more to this long position above 5600 and then keep my avg price as sloss.
WE have uptrend as far as 5 day, 13 day and 21 day avg are concerned which is shown in the chart.

Averages lined up for upmove buy above 5480 which is 5 day avg yesterday low sloss wlill update sooner

2011-03-08T08:53:00.000+05:30

3rd Wave or C wave

2011-03-06T17:24:00.000+05:30

Which wave ? If it is C wave then we have flat correction and top is made around 5600.
If it is 3rd wave which is motive wave what I was betting on then Mkt will take out 5600.
Tomorrow averages will line up showing uptrend. I will not be shorting the market but wait for market to take out 5600 and get into long with 50 points sloss. Let us see what market wants to show us. If this is C wave then top is made and another motive down can start so we will get opportunity to short as if it goes down another low will be there but I would like to wait and let market to tell me. Govt bad news is out let us see how market behaves to it.
I have shown earlier if this is 3rd wave up then Market can do 5900. so i will be buyer above 5600 with 50 points sloss. If long trade is entered into i will update the sloss..........

Post Budget Rally - How far it can Go

2011-03-02T06:59:00.000+05:30

I can see third wave features here. Unfilled gap and a huge rally. Momentum indicator has gone above the high it created when Market finished its 1st wave so higher high in momentum indicates the third wave possibility. Market internals as far as technicals are concerned are improving. We already have 13 and 21 day bullish cross over. 5 day will match up soon and generate a clear uptrend if mkt can trade above 5400. 3rd wave can be C wave too as both have same characteristics so we need to keep an eye how market behaves.
Buy the dips. We know now that 5330-5375 is gap support and 5 day avg is also around 5370 levels so buy the dips with that as sloss I think Thursday and Friday we may correct a bit for this upmove and resume the uptrend once again towards the target of 5950. Comments are there in the chart.

After budget rally - moved up like a rocket

2011-03-01T14:27:00.001+05:30

Market moved up like a rocket -- which i call after budget rally. It is well above 5500.
High is 5527 fo. One should book profit and wait for dip to enter again or raise the trailing sloss. 5400 will be strong support now so one should buy dips with 5400 or 5375 today;s low as sloss.

After Budget Rally

2011-03-01T08:28:00.000+05:30

Comments are there in the chart. We went into budget without much expectation. And I expect an after Budget Rally. Chart will support the same.

NIfty update on budget day

2011-02-28T13:12:00.000+05:30

Comments are there in the chart

Two inside days give sizable moves

2011-02-24T08:01:00.000+05:30

Comments are in the chart

sizable moves in next two days once the range is broken either up or down so trade accordingly

BPCL - 560 last hope for bulls.

2011-02-23T08:18:00.000+05:30

BPCL- comments are in the chart.

Nifty update for 23rd Feb 2011

2011-02-23T08:16:00.000+05:30

Just a quick update for nifty for 23rd Feb 2011

Intraday sloss update

2011-02-22T15:14:00.000+05:30

I could not update yesterday sloss but i have marked comments in my position section and also in comments for last post.

updating the chart for sloss modification.

Earlier i kept 5440 as sloss which was last low on friday and changed it to yesterday low of 5410.

Unfilled Gap on the way up so trade in the direction of Gap

2011-02-20T07:16:00.000+05:30

Simple rules are explained in the chart.

Gap is on the way up so trade in the direction of the gap unless it is filled.

we have bullish cross over of 5 and 13 day avg.

Trade set up is buy above 5 day avg which is around 5485 so buy above 5485 and sloss is 5440 recent low created on last friday.

Bpcl downtrend is bending.

2011-02-15T09:25:00.000+05:30

Buy around 600-605 levels with sloss at 580 spot prices.
comments are there in the chart.
Trend is a friend unless it bends. Here i think downtrend is bending and could give a good upside from here.

Bull market intact or not

2011-02-14T08:42:00.000+05:30

This chart answers for the title.

Same cycle same pattern timing says we should see bottom sooner in a week's time or bottom is in place. trend is still down and any longs should have sloss of 10 points below 5300 (5 day avg)

Momentum indicator is not receding but price action is not supporting long trade

2011-01-28T07:43:00.001+05:30

NIfty is around 200 day moving avg with positive divergences. Even yesterday momentum indicator did not recede. sometimes i have seen if this happens the fall is covered in a day or two. It means nifty should sharply come back above 5700 levels if momentum indicator is showing upside move. But 5 day avg is well above current level of 5600. 5 day avg is around 5689 so long trade is above that level only. So trader who wants to go long should wait for price confirmation and then go long. One can also see first half hour or one hour trade and if break out of range upside happens one can go long with low keeping as sloss. It will be risky trade as 5 day avg is much above current levels. But I do not feel to recommend short trade due to following facts.

1. same cycle same post what i posted few weeks back is about to finish its pattern and if that cycle is right and pattern is right we will see much bigger rally.
2. Market is oversold with positive divergences.
3. sbi has given an unfilled gap which is not filled yet and banks can rally giving nifty a boost

NIfty visible positive divergences but no price confirmation

2011-01-25T21:15:00.000+05:30

Mkt has closed below 5 day avg <>

WE can see positive divergences has developed in momentum indicator. Today market was down 100 points from the top but momentum indicator was still showing uptick. So I feel Market is trying to reverse from bearish to bullish zone. Trend is trying to bend from bears to bull though bulls are unable to make money as of now and market has closed below all averages 5,13 and 21 day and trend is still down.

How to trade now?

If on next trading day which is Thursday Market goes above 5705 which is again 5 day avg one can take a long position keeping 5670 as sloss which is last three days low. If we will have free fall which is possible as Nifty is below all averages and trend is down , we will not go above 5 day avg and long trade will not happen but if market does then free fall may not happen. Let us see how we trade on Thursday.

Note - I will not short at the moment but whenever I get chance I will try to buy and then keep a small sloss as mentinoed in the chart.

Gap up and expectation of bad news and long trade is still on

2011-01-25T09:15:00.001+05:30

Mkt is above 5 day avg. There is an expectation of gap up and also RBI policy bad news is expected today. Longs are already in so how to protect long now is the question.
Pl read 'running correction' word in the chart as 'running gap'

Either book longs or have trailing sloss. Comments are there in the chart.

A huge rally breaching all time highs possible

2011-01-20T19:40:00.000+05:30

Market has finished 5 wave up and now we see 3 waves are completed or about to get completed. Then what another 5 waves up. See the chart it will give more clarity.

I am very bullish when I found out 2 year cycle and same pattern occurring. It is said history repeats. Let us check that now. If I am right in finding out 2 year cycle then we will be in a bull market for next two years which means market will go much higher from here. Pl check my older post few days back for the same at below link

http://passionatetrader.blogspot.com/2011/01/same-cycle-same-pattern.html

It does not mean we buy blindly. But we need to take baby steps towards it and keep updating ourselves for it. First Market has taken out 5 day avg on closing basis after three failed attempts which i showed in last post. Now 4th time it has done it and closed above 5 day avg. Right now long trade is triggered on the day when we gap down 40-50 points and sentiments were totally bearish. If this is 3rd or C wave down we would not fill the gap so this is not 3rd or c wave down. Still this is not right structure to trade big for long as full set up is still not there when we have 5 day avg > 13 day avg > 21 day avg Market will set up uptrend. right now it is established down trend where we have 5 day avg < 13 day avg < 21 day avg.

To make trend up Next thing Market will give bullish cross over of 5 day and 13 day avg. then it will give bullish cross over of 13 and 21 day avg. once that happen all preparation for uptrend is done. I will keep updating whenever that happens.

So play this rally accordingly. If this is right one can mint money with long position for next two years. But sloss is a must. Right now long trade triggered at 5695 and sloss 5620 recent low.

Reversal is possible above 5695

2011-01-20T10:33:00.001+05:30

Pl read first my post on same cycle same pattern which will give us idea why I am talking about reversal. I expected reversal to take place around 2nd week of Feb but seems it may happen before that. Confirmation of the reversal is to make higher high above 5750.
Trade accordingly.

Rest of the comments are in the chart

Motive or corrective?

2011-01-14T08:53:00.000+05:30

This chart gives two counts one is motive and one is corrective.
My best count is still corrective. Let us see how mkt behaves.
New longs should be taken only above 5 day avg i.e 5807
Today if nifty closes above 5780 it then it will close today above 5 day avg as today 5 day avg will come down to 5780 if we closes around that level. That is the level to go long.

Playing for the bounce

2011-01-12T08:52:00.000+05:30

comments are there in the chart

Same Cycle same pattern

2011-01-10T08:26:00.001+05:30

Comments are there in the chart. second chart will blow your mind away

Let us see what this cycle wants to give us.

It is important we become the part of the rally or the fall whatever comes after this consolidation. If we compare both the cycles we can come to conclusion that in the left hand side we were at the bottom when new wave started that means people got extra bearish and then no one believed the bull wave. Same way we need to see what happens at the end of the current cycle. I assume this consolidation/accumulation/distribution whatever we call will be there for one more month. We need to see what happens after this consolidation comes to and end after one month. Either we will have super duper bullish perception of the market and we will be at the top around 15th Feb and we should then alert our selves that big break down is about to happen. Same way if around 15 Feb we are at the bottom of the pattern and people are bearish then we should get alert and we should be super duper bullish. the patter after wards will be motive whether up or down so we will be able to pyramid it if we are on the right path.

HUL is having its own Bull Market

2011-01-05T20:29:00.000+05:30

I will not update on HUL for the long trade what I am in

It is having its own bull market and bull market knows no tops,
It is decisively in uncharted territory and there is nothing for me to chart now.

One can keep moving the TSL as per own trading set up.

Correction or Fall?

2011-01-05T19:19:00.000+05:30

I will bet on correction rather than a fall.
I mean to say I will not short now for the fall. I will buy when correction is over. Buy is above 6120 spot nifty for tomorrow

- Few days back we broke out above 6050-6070 level. Today market kissed and tested that level. Earlier resistance may provide support.
- As far as averages are concerned we are in clear uptrend.
- Market is near 13 day avg which may provide support to the market.
- If market can trade above6120 spot it will be above 5 day avg , above downward resistance line and above support trendline and we can confirm correction is over. So is a call to buy above 6120 spot nifty. If trade happens I will update the sloss or recent low could be used as sloss if market trades above 6120

BPCL solid bottom at 650

2011-01-05T09:50:00.000+05:30

comments are there in the chart

And HUL is going in uncharted territory

2011-01-04T20:03:00.000+05:30

Comments are there in the chart

BPCL Tri Star reversal pattern

2011-01-03T19:33:00.001+05:30

Comments are there in the chart.

Guys who follow 5 day avg can buy above 5 day avg sloss at 650 - Risky

Guys who like to play ranges should buy above 675 sloss at 650 - Safe

Guys who wants to play channel break out buy above 670 sloss 650 - partly safe

This chart should be read in conjunction with last post which will show we have candle stick reversal pattern at tripple bottom near 200 day avg which has more chances to materialise

Important to note trend is still down as 5 day avg < 13 day avg(662<678) so logical is to buy above range break out which is safe.

BPCL corrective wave is near its completion

2011-01-03T09:53:00.000+05:30

Bpcl 200 day avg is around 650 where we are seeing possibility of having three bottom.

If BPCL can trade above its 13 day avg which is around 680 could give us confirmation of 650 bottom in place so jump in and buy bpcl if it goes above 680. Right now buying is not recommended as it is not sure that bottom is in place. once it trades above 680 one can buy with sloss of 650......so have an eye on it.

HAPPY NEW YEAR TO ALL READERS

2011-01-01T15:51:00.000+05:30

Break out above 6070

2010-12-31T07:19:00.000+05:30

Comments are in the chart. We have break out above 6070. Now whether this is real break out or false one will be know in few days. Traders who are long should keep low of break out candle as trailing sloss.

I will leave you with two good songs from Bruno Mars.
One for the ones who are successful in their love and one for the lovers who are struggling with their love.

For ones who are already successful in their love.....
Bruno Mars - Just the Way You Are
http://www.youtube.com/watch?v=LjhCEhWiKXk

And for struggling hereossssssssss
Bruno Mars - Grenade ---- I LOVE THIS SONG......
http://www.youtube.com/watch?v=SR6iYWJxHqs

hope you will like these songs.

Hul on its way up to challange the highs

2010-12-30T20:04:00.000+05:30

As expected convergence of avg did give a blast upmove and HuL broke the range above 305 and on its way to challenge the recent highs. Comments are there in the chart.