Sunday, November 30, 2014
Friday, November 28, 2014
Traded Icharts 3 minutes chart today. I was bullish on TS. Had posted about the same last night too. Took suppoet at 460 EOD and zoomed. TS gaped up and went above PDH. But could not sustain there. Did not take FTC. Shorted as BPB PDH and TP at IRL on double bottom formation. Had unexpected work so bought 470 CE and left. Sold it for a Rs. 5 profit . Around 1:45 the TRAP pattern worked well.
Thursday, November 27, 2014
Time flies very fast. Completed One year of my blog. I thank all for visiting and commenting on the blog. I hope I was able to add some value with my studies to the blog readers. Hope to continue providing value to the readers of the blog. Thank you all and keep visiting.
Special thanks to ST who encourages everyone to set up blogs and monitor our progress.
Thank you ST!!
Wednesday, November 26, 2014
Tuesday, November 25, 2014
Monday, November 24, 2014
Sunday, November 23, 2014
I was going through some articles on the internet about Nifty. Got some views about it. Clubbed those views with my views and reached at a conclusion.
Here it is:
The first green vertical line represents the bounce which we had since Nifty made a low in 2008 to the double top pattern in 2010.
It was 6327-2241= 4131 points.
Applying the same logic, Nifty bounced making a swing low at 4522.
So the target would be 4522+4131= 8653.
Also Nifty fell from making a double top from 6327 to 4522, i.e 6327-4522= 1805 points.
So if Nifty has to correct from 8650 levels, it can see 8653-1805= 6848.
Time will tell if Nifty corrects that deep.
Note: Some part of the analysis has been taken from here.