Happy Festive Season

!! शुभ  दीपावली !!

Punjab da puttar “PNB”

After State Bank of India, this is the PSU Bank which I like. Waiting for an sweet entry into this one. Also, if I am not mistaken Hema Malini endorses this bank? That’s like an Dharam – Hema combination … sweet
PNB weekly chart below

TATA “Jaguar” Motors

Tata Motors looks ripe to test 300 levels and maybe even 320 thereafter. Highly liquid scrip so, can even try intra-trades for some quick gains. Strong opening/close above 280 levels is a must
Daily Chart below

FOREX Charts

 

Bored of Indian Markets, looking at the Forex charts. Although, I don’t trade them … Forex markets are highly liquid and traded 24 x 5 so, very convenient for traders around the world. But, I’ve heard that its not legal to trade, except for the currency pairs offered by Indian brokers they are USDINR, EURINR, GBPINR & JPYINR and volumes are not all that attractive.

Any case, below are GBPUSD Weekly Chart and EURUSD Daily chart

GBPUSD – A long contracting triangle which means consolidation for a big move once that triangle is broken. I think we will go UP at least till 1.85 levels post break of the triangle

EURUSD – broken from triangle formation, 1.274 is the resistance and think we will visit 1.26 levels

 

Investing Steps – Baby Steps

This is follow-up or rather follow-down to the previous post , INVEST NOW

1. Open a Demat Account
Do it now, don’t worry about the brokerage etc. but, ease of transacting. except for the brokerage, most of the parameters remains the same with the leading brokerages. Contact me if you need any help with this.

2. LEARN
Invest in yourself and learn, Google is your best source. Spend time browsing thru blogs, plenty of them available providing insights, ask questions & comments, bloggers like me are always there to help

Start Investing Today !!!

Will not get into the details on need for investing because there are plenty of articles written on the same. The primary reason to take control of your finances and ensure your money grows is simply because that’s in your own interest. If you think the financial industry will help, forget about it, they are after your money & if in the process your money grows then you are LUCKY!!! I am not discounting the investment vehicles available in the market but, none of them are available for gullible retail investors like us. So, what do we do? We create our OWN!!!

Take some efforts, spend some time, make wise decisions and see your money grow. LEARN and EARN !!!

Will try to define a simple roadmap for new investors to help start building their portfolio.

Grasim–Head and Shoulder???

 

Looks like Grasim is forming the right shoulder, keep a close watch break of 3300 levels should give 3000 levels quickly.

Have nothing to say about NIFTY, just being a mute spectator currently.

Feel free to shoot questions & comments

Grasim Daily chart below for your review …

DOW–Whats Up? or should I say Down

Just could not resist from making this post, did not make any money trading this one but, still feels good when you think you are getting the pulse of the market.
Link which I had posted on Informed Trades Forum for Dow on Oct 26th and this is where Dow stands today post the Presidential elections …
Remember, when you Lose say Less, when you WIN say NOTHING. since, was not at all involved trading this, am at liberty to blow my own horn

NIFTY–Out of Range

 

Seems like I’m the only one with bearish bias on Nifty, all the indications (including Options Open Interest) are towards a nice ride to the top. Lets enjoy while it lasts but, I’m not participating.

Quick update on some of the previous Stock Specific ideas --

1. Cipla – Hit a Home Run with an excellent Quartely Results, first target achieved but, expect an run up till 420-440 levels with the kind of momentum seen in the scrip.

2. CEAT – Turned out to be an DUD with poor results, Hit the SL. its still within the rising trendline support, all is not lost. But, we are OUT

Below is the Nifty Hourly Chart with resistance zone marked, if reversal has to happen but, that will be post Diwali for sure. Comments are always welcome …

NIFTY–Accept Whipsaws

Whipsaws are part of the game and needs to be treated as part of the business expenses. Business expenses in anticipation of the profit as per your business plan. Accept it and move on, never doubt yourself or your trading setups because of couple of bad days & noises you hear of guaranteed profit doubling money etc. by the TIPS providers. If it was guaranteed they would be peaceful souls laughing there way to the banks by trading there own setups and minting money. Believe in yourself … That’s Advice to SELF after whipsaw week after week but, I know truth will prevail
Below is NIFTY Hourly chart and our market prediction for the month of November or maybe beyond. right till proven wrong … Comments welcome please

NIFTY 1 Nov

Movement as expected to breach the WRB, as mentioned during past 2 days update on the blog …
Here is the action as it happened today, first an 15 min chart for day-traders (an high probability setup for quick trade for 20 points) & then hourly chart which we have been following, don’t expect the WRB to be breached but, lets see …

Trading Methods

There are different ways one can interpret the same chart and take positions, that’s what is fascinating about markets. For every trade there has to be buyer & a seller and both of them think they are right.

A trader will have his bias created based on his particular set of studies & will identify an potential trading opportunity. He will further identify an ideal entry point with SL defined and further levels for pyramiding, partial-profit booking or exit levels. Similarly there will be trader at the other end to make the trade happen for you. Most of the times, whoever is well prepared, wins on the particular trade.

A well prepared trader who follows his trade plan meticulously and aligns himself with the overall trend will come out as victor in the end. Its not about individual trades, Green Ink on the P&L statement at the end of the year, that’s what matters. 

Look at the chart below of BPCL and let me know how will you trade this. I’ve just mentioned BUY limits on the chart but, similarly there will be sellers waiting with expectation of breakdown at those levels.