Nifty is taking rest ! Buy or Sell?

Nifty Trading below 5EMA 4522. Weekly pivot is 4509, while Daily Pivot is 4503. It indicates that nifty is lingering at the centrepoint with not any direction. The market is expected to be range-bound. Support for the Nifty is seen around 4,450 and resistance above 4,600. Among the August options, strikes between 4300 and 4700 were the most active, indicating the probable range for Nifty movement.
Strategy :

• Buy Nifty in oversold positions in hourly chart. Also follow the signal of 13x34 MA crossover.
• Short Nifty 4450 and 13x34 MA crossover is bearish.

27th July09 Nifty Intraday Chart

4000 is support for Nifty

Buy Nifty Futures above 4000. Buy @ Dips.

Bull's Profit Booking Day

The markets crossed the total turnover of Rs 1 lakh crore as institutions were sellers in today's trade. The markets lost ground marginally as the bulls unwound some positions at higher levels. The market breadth is marginally negative - out of 2,667 stocks, 1,411 have declined and 1,163 have advanced.

21st July Nifty Intraday Chart

After continuous bounce nifty is now consolidating. Mild profit booking took place. The Nifty July Future traders have not yet completely booked the profit. Nifty has huge support around 4,400. The 4,500 call options added OI of 265,150 shares, mostly through buy orders. The 4,700 call added OI of 364,800 shares.

Beginning

I came across the pie chart of % of bullish stocks.

Courtesy / Source : http:// tryin2trade.blogspot.com of Mr. Manoj

https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhPV0Z1HO_0A0UpaT19TfFR85FAVmnGGk44MfKuXSK-3su7GnLuBVjmxN_iafGx86_zsH657CihhtVzKAAxVIfOA152cGelnoU4qKY68sIubkq8XxgryyN8lIEzbQJqqn7b2SCyw4tsxyDK/s1600/NSE+Ma's+18th+July+09.png

My Failure of Emotional Intelligence

In these 5 days of Strong Rally in stock market, I realised my weakness to control the emotions like fear & greed. I have detected the right bottom but could not carry my position till end in the trade. The Fear of falling market make me to break the trading rules which I have made. This is a foolness of mine. The opportunities are coming again and again. But I was not able to encash the straight-forward trend in last 5 days.

I entered the Calls frequently and exited with small profits. Again I hold those positions with higher prices. This is My unexcusable - Foolness.

There is a lot of need to make homework by me. Therefore I confess my failure while blogging.

The Outcome : Making Trading System and Rules is easier than following them strictly and mechanically.

38 Steps of Successful Trader

Published in Commodity Futures Trading Club News

• We accumulate trading information - buying books, going to seminars and researching.
• We begin to trade with our 'new' knowledge.
• We consistently 'donate' and then realize we may need more knowledge or information.
• We accumulate more information.
• We switch the commodities we are currently following.
• We go back into the market and trade with our 'updated' knowledge.
• We get 'beat up' again and begin to lose some of our confidence. Fear starts setting in.
• We start to listen to 'outside news' & other traders.
• We go back into the market and continue to donate.
• We switch commodities again.
• We search for more trading information.
• We go back into the market and continue to donate.
• We get 'overconfident' & market humbles us.
• We start to understand that trading success fully is going to take more time and more knowledge then we anticipated.

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Many Traders Will Give up at this Point as they Realize Work is Involved

• We get serious and start concentrating on learning a 'real' methodology.
• We trade our methodology with some success, but realize that something is missing.
• We begin to understand the need for having rules to apply our methodology.
• We take a sabbatical from trading to develop and research our trading rules.
• We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute.
• We start trading again, this time with rules and find some success, but overall we still hesitate when it comes time to execute.
• We add, subtract and modify rules as we see a need to be more proficient with our rules.
• We go back into the market and continue to donate. We go back into the market and continue to donate.
• We start to take responsibility for our trading results as we understand that our success is in us, not the trade methodology.
• We continue to trade and become more proficient with our methodology and our rules.
• As we trade we still have a tendency to violate our rules and our results are erratic.
• We know we are close.
• We go back and research our rules.
• We build the confidence in our rules and go back into the market and trade.
• Our trading results are getting better, but we are still hesitating in executing our rules.
• We now see the importance of following our rules as we see the results of our trades when we don't follow them.
• We begin to see that our lack of success is within us (a lack of discipline in following the rules because of some kind of fear) and we begin to work on knowing ourselves better.
• We continue to trade and the market teaches us more and more about ourselves.
• We master our methodology and trading rules.
• We begin to consistently make money.
• We begin to consistently make money.
• We get a little overconfident and the market humbles us.
• We continue to learn our lessons.
• We stop thinking and allow our rules to trade for us (trading becomes boring, but successful) and our trading account continues to grow as we increase our contract size.
• We are making more money then we ever dreamed to be possible.
• We go on with our lives and accomplish many of the goals we had always dreamed of.

20th July09 Nifty Intraday Chart

Bull's Are taking control of Market Globally

Bull's Gripping :
US Market had an explosive week on the back of strong earnings and some decent economic reports. Bulls are actively building long positions in all stocks. Also Asian, European & Indian The markets saw biggest weekly gain since week ended May 24, 2009. The Sensex, Nifty and Nifty Junior ended 9% higher each. crossing over the 4,390 level will be important for the Nifty to continue the uptrend. The 4,390 level is also a 61.8 per cent retracement of the fall from 4,693 to the 3,919 level. The crossover means a 100 per cent retracement.
Hot Topic : CIT is not getting the finance, so it might be file bankruptcy. The ripples from a potential CIT (US) collapse could be widespread and worsen the effects of the economic downturn for some firms. The impact of CIT's demise would likely pale by comparison with the collapse of investment bank Lehman Brothers Inc last September, analysts have said.
Our Option Strategy has proved successful nifty option trading strategy. The Break Even Point has been triggered. Follower's of Positional Option Trading Strategy can book their profit. Our last positional nifty option trading strategy was dated 18th June09 has BEP @ 4718.

Nifty Trading Strategy for Monday, 20th July09
As 50% stocks are trading above it's support level the market turned in up-trend. Monday migh see profit booking. If profit booking take place one can exit the call and release the put of (Bull Strangle) with gains at the bottom.







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Nifty Chart 16th July09

Nifty Futures have Discount 1.5 points.

Nifty, DJI P&F Pattern Chart

Nifty Futures & Options Call for 15th July09

Nifty is above 5EMA 4066 and today moved firmly upside. As we have told yesterday that hourly chart was giving bullish signal. The Daily Chart is also giving the signs of oversold and reversal. Nifty July Futures discount of 7 turned in to premium of 1. This indicate strong positive move. If nifty sustains above 4081-4100 for 2-3 days it might turn the traders sentiments in positive. Let's see.

Nifty Option Trading Strategy initiated in last month.

Short recovery in Nifty Futures is possibble

Nifty Futures Discount is reduced to 7 from 10.2 points. Hourly chart's indicators MACD and RSI also suggest suggest that Nifty is in oversold condition. SCO is 5 which suggest oversold condition. Some upside might be tested before resuming the downtrend. Nifty Futures closed above 5 Hour EMA.

Nifty Future and Options Call for 13th July 2009

The markets were in consolidation mode since yesterday but selling in the last half an hour of the trade today took Nifty below the 4000 level. As expected Nifty has broken the 4050 crucial level on Friday. The Nifty July futures ended with a 10-point discount, as a huge short build-up was seen in the market. Nifty May touch 3700-3600 levels in coming days.

Global Picture is Bearish
In Afternoon European markets were trading weak; down 0.7-0.8%. Among the US futures, the DJI index fell 66 points, to 8,070 and the Nasdaq futures declined 9.5 points, to 1,404 and FTSE fell 22 points.

Sales may dip 10%, net profit 7%

http://www.business-standard.com/india/news/sales-may-dip-10-net-profit-7/363765/
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We recommended Bear Strangle Strategy for option palyers and suggested short in Nifty Futures @ 4080. 5EMA 4111. Now Stoploss for short is 4055.

• The Shorts can be hold in NF on monday.
• Option Players can buy Nifty Option PE3900 @ 98.

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Nifty Call for 10th July

Today is week's last day. Short covering might appear in Daily Chart. Keep watch on live trading signals and trade. The Doji pattern has appeared in chart. The Bears & Bulls are cautious and will decide where to pull the Nifty...
Buy Nifty Futures Above 4080 and Short below 4080.

Call for 7th July 09

Weekly 5 EMA : 4323 Daily 5 EMA 4292
Hold shorts in Nifty futures and buy Bear Strangle of Nifty options CE4400, PE4200.

Call for 6th July09

Most of the stocks are trading below the Median. Short signals is generated in early hour. The Long positions can be wind up. The Market will test the lowest prices of stocks early of Election Results. The World Markets will move the Indian Stocks from tomorrow.

Welcome to Midcap Tadka Blog

Dear Traders,
This is a new blog started for the traders who use to trade in NSE CNX Midcap Index in Indian market. The medium capitalised segment of the stock market is being increasingly perceived as an attractive investment segment with high growth potential. The primary objective of the NSE CNX MidCap Index is to capture the movement and be a benchmark of the midcap segment of the market.

Advantages of Midcap Index :
NSE CNX Midcap Index represents about 77% of the total market capitalization of the Mid-Cap Universe and about 75% of the total traded value of the Mid-Cap Universe (Mid-Cap Universe is defined as stocks having average six months market capitalization between Rs.75 crores and Rs.750 crores).

Call for 3rd July09

Nifty Positional Option Strategy
The big move in nifty if possible on Monday. Nifty is trading in a
4279-4370 range. The Budget will make higher move in either side. So It will be ideal strategy for nifty to buy Nifty PE4200 and CE 4400.
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Nifty Intraday call for 3rd July09:
Buy Nifty Futures @4335 SL 4323
Short Nifty @ 4370 SL 4440