Nifty for 29 Aug 07

These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.

As was suggested yesterday, the market did open hugely weak on Global cues. However, the market proved me wrong by taking a one way traffic lane upward, and taking out yesterday’s high. In such a case, the cycle in time on 30, i.e. tomorrow could turn out to be an intermediate high. Considering that tomorrow is an expiry for the derivatives cycle.

In that case, we could have a short term bottom on 5 September.

However, please keep in mind that these dates are purely time projections. And time projections do not make profits. The price does. Therefore, please keep in mind the price, and look ahead to what really happens on the time cycle projection dates.

Plan your trades and trade happy.

Nifty for 28 Aug 07

These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.

It has been a long time. I am really gratified that the market respected our cycle in time of around 17~18 August, which was mentioned in my last post on 14 August. According to my cycle calculations, we have another event on 30 August. A kind friend informed me that the Dow is down 135 points, as of this moment when I am writing. In such a case, we could see some downside due to adverse sentiment. If we see a downside, then we could see an intermediate bottom on 30 August.

And, the next time cycle falls on 5 September. This could again show us a short term turning point. In any case, the pattern of higher tops and bottoms augers well for the bull. This may therefore be classified as a buy on dips situation.

The short term target derived from Fibonacci extensions is 16278 on the BSE and 4724 on the NSE. If such a target is achieved, then it is obvious that the market may make a new high.

Plan your trades and trade happy.