Weak European Cues

Today's Trades (Click on the image to enlarge)

"Holding onto anger is like grasping a hot coal with the intent of throwing it at someone else; You are the one getting burned"   - Gautama Buddha (563-483 BC)

Nifty Struggling to cross 5400

Today's Trades (Click on the image to enlarge)

"The greatest battles of life are fought out daily in the silent chambers of the Soul."

1. Booked full profit at 5006 Bought yesterday at 4895. (+111 points)




"Our self-talk is our self-coaching"

1. On Thursday Bought @ 4866 and covered @ 4888. (+22 points)
2. On Friday Sold @ 4840 and booked profits @ 4821. (+19 points)
3. Today Bought @ 4895 booked partial profits @ 4940. (+45 points)


"The Pathway to more consistent profits is record keeping."

1. Buy Signal @ 4944. Went up to 4961. (+17 points)
2. Sell Signal @ 4934. Fell down to 4894. (+40 points)
2. Buy Signal @ 4913. Went up to 4933. (+20 points)
3. Sell Signal @ 4914. Fell down to 4868. (+46 points)


"I have no special talents. I am only passionately curious."  - Albert Einstein

1. Sell Signal @ 4909. Fell down to 4865.10. (+43 points)
2. Buy Signal @ 4889. Went up to 4973.20. (+84 points)
3. Sell Signal @ 4950. Fell down to 4926. (+24 points)



"What are the three best market indicators?
In order they are:

1. Price

2. Price

3. Price"

1. Sell Signal @ 4850. Fell down to 4824. (+26 points)
2. Buy Signal @ 4838. Went up to 4921. (+83 points)

Total Gain: +109 points

"Trading aggressively following losses in an attempt to get our money back all at once is called Revenge Trading."

Wkly Tech Analysis: Nifty placed in a strong support zone The markets registered heavy losses in the holiday-shortened week amid rout in equities across the globe. The US economy seems to be headed towards another recession, and fears of defaults in the Euro zone loom larger than ever before. Sentiment also soured due to the popular fight against corruption, which, many fear, may lead to a slowdown in foreign inflows. The NSE Nifty tumbled 336 points, from a high of 5,132 to a low of 4,796. The index ended at 4,846, with a loss of 227 points. One can see the resistance moving lower on the Nifty daily charts, if one draws a trend line from its recent high of 5,702 on July 26. The immediate resistance for the Nifty is now placed around 4,950. The index needs to break through this downward trend line to show any sign of consolidation or recovery. The markets have been in a downward spiral for the last ten months, which is precisely the time they took during the 2008 correction. Secondly, the index is now close to its extremely strong support level of 4,835, on the weekly and the monthly charts. The Fibonacci time-wise and value-wise targets, however, indicate a major bottom somewhere in the next 11 months. According to the time-wise theory, the next bottom will register around the 21st month, starting November 2010. This indicates a period between June to August, 2012. Similarly, according to the value-wise theory, we should get to a downside target of around 13,400-odd levels on the Sensex, and 4,000-odd levels on the Nifty. Hence, it would be interesting to see whether the Nifty can sustain around the 4,800 levels, and for how long.

1. Sell Signal @ 5473. Fell down to 5453. ( +20 points )

2. Buy Signal @ 5477. Didn't move up at all. ( -23 points )

3. Sell Signal @ 5454. Fell down to 5433. ( +21 points )

4. Buy Signal @ 5450. Went up to 5473. ( +23 points ) 

"There are no shortcuts to anyplace worth going"

1. Sell Signal at 5533. Fell down to 5488. (+45 points)
2. Buy Signal @ 5515. Went up to 5540. (+25 points)

Total Gain: +70 points 


"Every market inhales and exhales"

1.Nifty made a low at 5518.25. So yesterday's sell signal yielded another +35 points.
2.Buy Signal @ 5549. Position carried forward.

"If you're not spending as much time on trading outside formal market hours as during them, trading is probably not your calling."

RBI hosts Bear Party

 Sell Signal @ 5666. Fell down to 5555.55. (+111 points)

"Every once in a while, the market does something so stupid it takes your breath away."

1. Nifty bought on 01/07/2011 @ 5643 went up to 5751.60 today. (+108 points)

"Find at least one person to whom you are accountable  for your development as a trader"

I am back

1. Today we got a Sell Signal @ 5660. Fell down to 5616. (+44 points)
2. Buy Signal @ 5643. Position carried forward.


"The best trading opportunities come after the retracement of the first leg"

1. Sell Signal @ 5488. Fell down to 5438.15.(+49 points)

"Trading Stocks is simple mathematics 2+2= 4

but our greed makes it 5 and our panic makes it 3."

1. Yesterday's Buy Signal @ 5487 yielded +24 points.
      Nifty went up to 5511.

"You will be more profitable if you don't  know what comes next."

1. Yesterday's Buy Signal @ 5535 didn't move up at all.(-33 points)
2. Today Sell Signal @ 5502. Fell down to 5450.25. (+51 points)
3. Buy Signal @ 5487. Position carried forward.

"Don't let your learning lead to knowledge. Let your learning lead to action."

1. Buy Signal which came on 06th @5525 went up to 5577 and gave additional +31 points.
2. Sell Signal yesterday @ 5522 fell down to 5493. (+29 points)
3. Buy Signal Today @ 5535. Position carried forward.

    Total Gain: +60 points

"Readers are Leaders". I am a "Book-a -holic". I simply love books and reading.

1. Sell Signal @ 5572 on Friday yielded another +33 points .
2. Buy Signal @ 5525. Went up to 5546. (+21 points)

      Total Gain: +54 points

"A Winner is more defined by mental make-up than by method or money."

1. Today Nifty future made a high 5608. Yielded another +45 points.
2. Sell Signal @ 5572. Fell down to 5509.30. (+62 points)

     Total Gain: +107 points.

"Lesser profits are better than big profits and big losses."