Nifty for 15 Feb 08

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 suggested yesterday, the market did try and close the gap. It was unsuccessful, and therefore, we see a sharp spurt up.

The black box overhead is going to be a real challenge zone, both for the bulls as well as the bears. The bulls will try their hardest to pierce that range whereas the bears are going to try and protect it. The odds are at present in favour of the bulls. Monday could be lacklustre as USA is going to have a long weekend.

Traders may continue to buy on dips. The stop may be retained at a close below ~4950 for long positions.

Trade happy after planning your trade.

Nifty for 14 Feb 08

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 was suggested yesterday that the market may be bottoming here. But the huge gap open has taken me by surprise. I am sure it would have taken a lot of traders by surprise too.

The market may attempt to close this gap of today. If it does, then we could see the emergence of a bullish pattern.

Therefore is may be suggested for traders to buy now on dips. The stop may be retained at ~4800 for long positions.

Trade happy after planning your trade.

Nifty for 13 Feb 08

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.

A close study of today’s intraday chart shows that the market is attempting to make a short term bottom here.

But it also shows that there is no trend. We see large hourly bullish and bearish ticks side by side. This suggests that the market may be bottoming here, but is still undecided.

The banking sector is the frontrunner if we are indeed to see a short term bottom here.

The negative sentiment is slowly being weaned out of the system, even though we do not see a full scale positive mood.

Short term traders could buy after a short term bullish pattern emerges from the trading. A stop may be placed at ~4800 for long positions.

Trade happy after planning your trade.