Monthly Archives: March 2013

way2profits

Finally, game is changing….

Nifty as on 12 March’13 – 5914.10(Spot)

Today’s price action has confirmed underlying weakness in prices, now it is advisable to take only short position on intraday basis. Yes, still its not time to carry your position…market is not that bearish..play only intraday….

Bank Nifty has confirmed weakness…take a chance to go positional short with stop of  12250… no compromise there..

way2profits

Unfortunately, rejection from crucial level.

Nifty as on 11 March’13 – 5942.35(Spot)

Yes, it is very unfortunate that bulls are struggling to keep prices at higher level, and we witnessed rejection. Now we have one less probability to stay bullish in Nifty. Still, I would like to give benefit of doubt, and wait for today’s price action, if history repeats than we’ll be looking for short trade,,, but as I said,,,wait for confirmation.

bollinger bands

Trading Strategy based on Bollinger Bands

I know many of you are already using Bollinger Band in your analysis and trading, but I am also sure that most of you really don’t understand, strength hidden in Bollinger Bands. Honestly, I was also using Bollinger Band from last couple of years, but only in recent past I realized true magic of Bollinger Bands. Trust me, BB has a potential to give you excellent returns (don’t expect 100%…please) if used in right way, and right sense.

Till date you must be using Bollinger Band as your target or stop loss. If market is falling than your lower band is your target and, if rising than middle and upper band is your stop loss…right???  But, give me one genuine answer you are satisfied by the performance of your analysis?

You know Technical Analysis is like a car show room, where every cars are same only difference is their price and engine.  Now for a novice, whether salesman shows any high class engine car or any third class engine car, for them everything is same, because car looks same.  Exactly is the situation with new kiddos, Technical analysis for newbie is full of tools without understanding its basic nature and construction. For them one tool a day is the concept, today it works, tomorrow if it doesn’t than just throw It.

Bollinger Band strategy is the part of my course on Technical Analysis, if you are serious to learn than please do get in touch with me and understand the market with better perspective.

way2profits

It is just a Dead Cat bounce or Nifty will rally?

Weekly Outlook –Nifty Spot as on 8 March’13 – 5945.70 

Last week was quite an eventful, nifty moved sharply higher.  And if my readers remember than I have mentioned in my previous article that I will turn my attention on long side only if Nifty spot moves and close above 5875, below which I see every rise as a selling opportunity, but Nifty successfully moved above 5865 on Thursday itself, which was very much evident that Nifty will turn bullish again.

Coming to current situation, I believe Nifty has broken heart of 60% (not based on any data) Bears but still there are few Bears are left, they will be killed once Nifty moves above 6000 level. So it is advisable to take minor longs for now, keeping stop loss below 5875 and increase your position once Nifty moves above 6000 mark, and mind it, if it happens than we’ll be seeing new highs soon…. But keep your fingers cross, still we are sure by 60% and not 100%.  Rest you know how to trade.

I know with some fans there are lot of critics available, and they must be thinking that I am talking on two sides, but for them I am attaching this link, I request them to please read that, I am sure all your doubts will get clear.  Read article

Take Holistic View…

You believe that if Nifty is doing well than stocks should perform well. I am asking you because, generally, whenever I meet with my friends or market person, they simply ask me “Kya Dhyaan” (what’s my view) and I have to say about view on major index Nifty or Sensex.

Unfortunately, due to some other commitments I am not getting time to look at other charts, but today I got a chance to look at some equity charts. As I started, instantly few thoughts clicks in my mind. I saw few charts, which are outstandingly outperforming major Index and they are highly traded, now if I build my view on equity market based only on Index than in practical I am doing a wrong thing, because these stocks are doing exceedingly well. Also keeping above things in consideration, there are some other stocks, when Index was rising, at that time they were laggards.

To trade the market you have to take holistic view. You cannot base your judgment looking at only one chart of Index or your favorite stock.

Strategy is not always bad…

If you know how to trade, than I am sure 20-30% of your problem is solved. Yes, with any given strategy, whether it is good or bad, if you add some sound analysis, your result has to improve, anyhow. But this sound analysis comes only after some efforts taken by individual, without which nothing is of use.

I am writing this article keeping last few days market action in consideration. Like in my daily update I have clearly mentioned that market has potential to go down further, but subject to market stay below low of 5670(spot), and also I have mentioned that only short term trader can take long trade for small profits. Now see the price action, Nifty made a low of 5679.90 (does not go below previous low and traded higher). I am not saying this because I went right here, it is because I am trying to convey you what I hear from market. As I always try to listen what market is saying? Yes, I also might go wrong many a times, but if at all I maintain accuracy of more than 70% than also I am highly satisfied with my performance.

I know many readers of mine, who are constantly involved in improvising their strategy, but dear friend why you miss to improve yourself with your strategy, and see the result. So strengthen yourself to improve.

Keep reading and replying with mail.