Market view

As long as market stays above fridays' low, stay long in this market. We might only head higher. Some stocks that looks positive

unitech
Reliance industries should move up 50-60 points in the forthcoming week....

look forward to more stock views here n of course as always leave your comment if you find these useful..

Proft from these Calls ...(hopefully)

After a loooooongtime here I am posting some calls for you folks...enjoy these trades and do write back and visit the sponsors if you do make money

KSOILS - BUY target 60+ (can buy in FnO as well)
BANKOFINDIA - Very strong currently target 700+
TATASTEEL - buy in every dip for investment target 1300 in 1 year

Market musings...post market updates 15th December

Market after a long consolidation phase seems to have broken down. Intraday charts look oversold and like every other breakdown markets usually bounce back to test the resistances before continuing their journey further. So for now, I covered all shorts and am waiting for the next rise to short again...resistance for this rise will now be near about 5070 - 5080.....overall markets are looking weak only for the time being.

A new start...

Its been a really longtime since I posted something on this blog. Work has kept me very busy and I have been catching up a lot on my other interest...technology....and now I see that my interests are converging for the better onto one topic - machine trading.....as I delve deeper in this domain, I feel there are folks out there who can offer a lot of insight in this area and probably help me in testing some of the stuff I have started writing. What I would like to know from the readers of this blog are various trading strategies that they adopt...be it intraday, short term or longterm trades....do drop me a note and they will all be helpful in creating this small piece of software

Also, if you know of some trading terminals with which I can interface with...some ODIN interface or even some commercially available APIs on NSE, please leave a comment and it will be of immense help to me.

Daily market update...nov 07, 2008

Could not update blog yesterday due to network issues. As expected, market reversed the day before from the resistance given at 3240. Now all important supports are indicated in the attached chart. Yesterday was the turn of 2860 to support market. Lets see where it goes today. Hold shorts for today! Book profits towards close if market tests supports.

Market update Nov 05, 2008

Global cues are positive to begin with. Yesterday we had a good close albeit with lower volumes. For now, I will still advise to remain on sidelines. Market has staged a very fast recovery from 2200 (a 1000 point climb in nifty in 6 sessions). So there should be some pullback any moment. Carrying positional longs at this point may not be too prudent. I will look at adding small positional shorts today (this will be risky as this is against trend and we dont have a reversal signal yet). This is more in anticipation of an upcoming downmove and will be in very small quantity. (Take this short only if you are a high risk trader). Others can wait till signs of reversal comes, or if market does not reverse and continues moving up we can catch this bus later. Watch for 3200/3240 resistances in spot

NIFTY updates for Nov 04, 2008

Yesterday whole day market faced resistance for upmove at the said levels. Now more or less all the upside targets mentioned are achieved yesterday. Look at the graph on how market played as per the lines drawn. I have no views now. Next trade will be on confirmation on direction. However, I think we might have some more small upmove from here on for maybe 50-75 points and then go back below 3000 again. This is only a possibility, we should wait for confirmation to trade now. For now stay out and enjoy while market consolidates and shows some direction.

Nov 03, 2008 - How will market play out today

Posted below is the daily chart of NIFTY spot. Corrective upmove in progress from the bottom of around 2200. This is possibly a good corrective/pullback rally. On charts, as of now it looks like it will hit 3000 - 3050 levels. (watch out for some major res around 3030-3040 area). Stay long until this rally lasts.

Resumption of updates...

Its been a really long break from my blog. Work n health kept me busy with other things in life. Though I have been trading actively and making the most of the crashes we had was unable to update the blog on a regular basis. I would be resuming updates this week again...so keep watching this space.

Bloodbath...sep 16, 2008

All world markets are bleeding. Yesterday I said 4000, it was achieved in a single day. Lower targets are 3800/3600. I repeat short on every rise. Do not go long in this market yet.

NIFTY view....sep 15, 2008

We have broken the uptrendline which took us up rom 3700 levels. RSI has also broken trendline on daily charts. Stochastics indicator pointing downwards. What does this mean? Well, NIFTY is weak and market seems to be headed down. Maybe 4000 or below. Its a short on every rise market now.

Do you want to know where market is headed today...? Sep 08, 2008

The question in the title today is a no brainer. I dont need charts for today to predict market direction. NSG waiver, strong global cues, resolution of singur row.....market should open today with a big gap up. NIFTY could gain 200+ points today. On the upside watch for our resistance at 4620 - 4640 levels. Above that we can get 4700. Remember to liquidate all your longs there. The euphoria may not be too long lived. I hope you are still holding the longs recommended last week. Its a good time to book some profits.

Book some 50% longs near the 4600 level and hold rest for tomorrow. US markets might rally tonight on the back of the Fannie freddie bailout news...so possible +ve cues tomorrow as well.

NIFTY updates and thoughts...Sep 04, 2008

There is no change from the previous post. Market continues to be bullish. We may witness some profit booking in the morning session today, but all dips can be used to buy now. I am expecting market to test the recent high near 4620-4640 levels. Crude has come down well which is a big positive for the market. Inflation numbers are expected today, which if lower than last week will be another positive. The biggest threat as of now is the nuclear deal....no one can predict what will happen here. I wish this 123 agreement terms n conditions were made public so people can read and understand it for themselves if the deal is good or if we are being fooled...

Reversal of sorts...Sep 02, 2008

From a weak market...suddenly September seems to be brightening and strong. Market is looking bullish to say the least. Possible upmove now. Watch the charts for details. On daily charts see the stochastics indicator turning upwards now..on the 5 min future charts we see increasing volumes also. All pointing to bullishness. Lets see how this span...we can play the long side for sometime now. Maybe until 4600.

NIFTY view Sep 01, 2008

On friday, NIFTY went up with good volumes and also closed above a key level of 4335. It looks like market might be reversing here and taking a move up. But again, we will have to wait for confirmation here. Today we might get a confirmation, till then lets wait n watch.

NIFTY Updates..Aug 29, 2008

Expiry of August closed at month's low with decent rollovers. NIFTY sep is trading at a premium. However, the overall trend is down. Market is unable to decisively break 4400 levels for sometime now. This will be a stoploss (closing basis) for all shorts. Though market is looking weak, the stochastics indicate a slightly oversold condition on daily charts. Though, this doesn't mean market cant go down any further, its a signal to be cautious on shorts as well. I am sure you must be confused at this post today, one on hand I say its weak, stay short and other hand I say stochastics are oversold so careful in shorts. Well thats how its playing out now. Its dicey. 4200 - 4150 levels needs to be broken decisively for shorts to party. Till then hold shorts patiently, I think we will break down if not today at least next week. (Keep stoploss intact).

Market not looking good...Aug 28, 2008

Market is not at all looking good. Though its been sideways for long now, the signs are quite bad. We may have 1 - 2 up days due to expiry effect. But overall trend is very bad. I would advise not to trade long in this market. We may have a good correction very soon...a big one too...I'll try and post targets over the weekend.

Updates...Aug 22, 2008

Not been able to update blog regularly this week due to some constraints. Wanted to leave a quick note here a lot of people were asking where market is headed. Market is not looking good as of now. Gold and crude are rising back up again. If 4150 does not hold in market, we may retest this year lows or even make one more low.....I will try to post a more detailed view next week. I hope you all enjoyed shorting from 4600 levels. We are now almost at my said target of 4200. Cover shorts once and then wait for direction to initiate trade again.

Market update...Aug 14, 2008

Wedge got broken yesterday. Unable to post a chart here. Now 4500 is key level on downside. Yesterday mkt managed to stay above it. Once breaks slide will be faster. Before that a move above 4600 is also possible.

Will wedge be broken today? Aug 13, 2008

NIFTY yesterday took support at the lower trendline of the rising wedge. Today, there is a possibility that we may break down from the wedge which gives us a first target around 4400. Hold shorts...n ride the trend...