Nifty for 27 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.

As was suggested yesterday, the simple strategy of keeping a trailing stop keeps us in the market, rather than to exit prematurely. It has given us more than one percent today.

As far as expiration days are concerned, today must be the tamest expiry day in a long time. No fireworks, no flashes, just a continuation of the steady uptrend. The first short term target of 5000 has been achieved today.

The target range between 5000~5100 is still open. It does seem that the historic supply line is now giving support.

Shorts? It is again very humbly suggested to avoid them at this stage. There will be plenty of time to short later, when the market gives us a convincing signal.

Once more, I reiterate my slogan, plan your trade and trade happy.

Nifty for 26 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.

A simple strategy of keeping a trailing stop has given us an additional few points on the Nifty. For a market like this, it is again suggested not to try and catch the tops or bottoms but to keep raising stops as per our comfort levels, and allow the market to exit us, rather than to exit prematurely.

The target range between 5000~5100 is still open. It also seems that the historic supply line may now give support.

Shorts? It is again very humbly suggested to avoid them at this stage.

Once more, I reiterate my slogan, plan your trade and trade happy. It is all in the mind.

Nifty for 25 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.

Today's analysis is simple. It may be suggested to exit long positions on a close below 4875. This way, we do not exit prematurely, and yet are in the market, to take advantage of any possible up move.

Trade happy.

Nifty for 24 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 next target also seems upon us. It is placed at around 5000. However, it does seem that even this target would be swept aside. As is normally the norm of the market, the targets are exceeded by a bit, so we may see a short term top around 5100.

This calculation is in keeping with the market movements for the last few days.

Was I wrong about the cycle in time? No. As has been often repeated, a cycle in time is just that, a projection of time. A window of a day or two may be granted, as emotions in the stock market cannot be dictated by mathematics.

At this stage, any other suggestion seems redundant; expect to keep tight stops to exit profitable positions.

Shorts? It is again very humbly suggested to avoid them at this stage.

Nifty for 21 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 chart says it all.

The cycle in time is now upon us. Monday could possibly be a short term high. The stress is on the word possibly. Could it be a major top? The odds are not in that favour. It does seem that we may have another major move up. But possibly after a correction.

As was suggested on Thursday, 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.

Please stay alert for a short term bearish pattern, as shown on my Blog. The link is on the right panel.