Nifty for 19 Jul 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.

Well, at last the Nifty has hit a bang on target.

It is also approaching a long tested supply line. So very simply, bulls should remain alert. With the weekend around the corner, there again would be some volatility. This is the time when our slogan, to plan trades, will work.

As was suggested on Tuesday, “it still does not seem that we could see a significant top here.”

Technically the position now changes to buy on dips. Others may tighten stops and allow the market to exit us from the winning positions. Till then, only patience may be suggested.

Plan your trades and trade happy.

Nifty for 17 Jul 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.

Has the Nifty missed its target by a whisker? As of the end of today, it does look like it.

As suggested earlier, we did see a roadblock around the 4550 to 4602 range. Also we have encountered a cycle in time. What the effect it would have still remains to be seen. The time cycle has shown its effect, with a 50 point correction.

It still does not seem that we could see a significant top here. The main trend is still hugely bullish, and it is not suggested to have a bearish outlook.

Technically the position now remains … the suggestion to buy on dips would remain valid only for very short term traders. Others may tighten stops and allow the market to exit us from the winning positions. The technical status to buy on dips may arise in a few days. Till then, only patience may be suggested.

Plan your trades and trade happy.

Nifty for 16 Jul 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.

Monday has been a more normal bullish day when compared to Friday.

As mentioned on my analysis for Friday, we could see a roadblock around the 4550 to 4602 range. Also we are falling on a cycle in time tomorrow, i.e. Tuesday.

From the way the Nifty has approached these price and time targets, it does not seem that we could see a significant top here.

I notice from comments on my blog, that readers may assume that there could be a significant event on Tuesday. Whereas, in fact, a cycle in time is just a mathematical projection, from previous events. It may or may not have any significant impact. The only reason for my mentioning it is to allow readers to be alert.

In any case, the main trend is still hugely bullish, and it is not suggested to have a bearish outlook.

Technically the position now remains … the suggestion to buy on dips would remain valid only for very short term traders. Others may tighten stops and allow the market to exit us from the winning positions.

Plan your trades and trade happy.

Nifty for 13 Jul 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.

The gap through a potential short term target is extremely bullish. The market does not want bulls to enter at these levels either.

Applying further mathematics, we are getting a cluster of potential targets all bunched around the 4550 to 4602 range. We also see a rising trendline, which has been tested several times historically, which may provide a roadblock.

At times like these, it is foolish to jump on the market in desperation. The market always allows a suitable entry.

Technically the position now remains … the suggestion to buy on dips would remain valid only for very short term traders. Others may tighten stops and allow the market to exit us from the winning positions.

Plan your trades and trade happy.