Nifty for 20 Sep 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.

After a breakout is sustained, for a day, it seems logical to draw up the next mathematical target. This time it falls around 4860. Our anticipated high closing for the derivatives expiry this month has come true.

With many short term cycles coming into play, the next two trading sessions, Friday and Monday, would be important. Monday could possibly be a short term high.

At this stage people would be tempted to short. To those people, all I can suggest that trying to catch tops or bottoms is a luxury which disciplined traders had better avoid. The business of trading does not earn money by “predicting” tops or bottoms. But to decide what the trend is and to take a slice of the action, by trading in the direction of the trend.

I think that I should stop carrying my traders’ anthem, “Plan your trade, and trade happy”. People have read it so many times that they have become immune to it.

Nifty for 19 Sep 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.

Phew!!! Finally the market has obliged this humble analyst.

With a gap up opening through a short term target, no further analysis is necessary, except reiterating that the market is indeed bullish.

Just yesterday, it was suggested that … “In fact, we just seem to be entering the bubble stage, where the corner pan walla also becomes a stock market analyst.” Today seems the beginning of the bubble stage.

It was suggested two weeks back that we may encounter a cycle in time on 24 September. This could possibly be a short term high.

No other words seem necessary except that these humble musings may have helped some readers to make some money. Except a major word of caution. Please do not get carried away by the tidal wave. Please keep your feet firmly implanted on the ground, plan your trades and trade happy.

Nifty for 18 Sep 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 market has proved this humble analyst wrong again. It was anticipated that the 4450 level could be broken on the downside. The market has proved otherwise.

The short term trend is still up. In fact, the short term trend has reiterated its bullish behaviour today, by making a short term pivot.

There was some comment asking when we can short the market. At the risk of sounding offensive, I could suggest that the questioner must be daft, thinking of shorting the market when the trend is up. It has been suggested time and again that we could ride the trend rather than try and swim against the current. In my last 219 posts, spread over almost fifteen months, I do not remember having said at any time that the main trend is down.

In fact, we just seem to be entering the bubble stage, where the corner pan walla also becomes a stock market analyst. The market is not going to move one way. It is going to have its bad days and good days. It may be suggested to buy on dips.

Trades could be placed in the direction of the main trend.

Plan your trades and trade happy.

Nifty for 17 Sep 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.

Here is what was suggested on Friday. “The probable direction is still bullish, and we may see some small downside.”

So far, the short term trend is still up. We could classify the short term trend to remain up till the yellow band of ~4450 is held up. As of now, it does seem that the 4450 level could be broken on the downside. However, it also seems that the correction may not be very deep.

The much talked about USA interest rate cut on Tuesday, seems to be spooking the market just a tiny bit. However, since the news based event is a non event on the face of it, we could just see that market brushing it aside as a non event.

The main trend is still up, and trades could be placed in the direction of the main trend.

Plan your trades and trade happy.