FII FnO Data Analysis for 01 Jan

• FII's bought 7.4 K contract of Index Future worth 130 cores, 9.8 K Long contract were added by FII's and 2.3 K short contracts  were added by FII's. Net Open Interest increased  by 12.2 K contract ,so FII's added longs in Index futures.

 Nifty is near very crucial point as per Ichimoku Cloud and big move is round the corner. Also 20/50 SMA are converging any break above..

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Traders Resolution for 2015

As 2014 come to an end,  it’s an important time for a trader; it’s time for you to make an honest assessment of your trading performance over the last year. This is an excellent opportunity for you to learn and grow, both as a trader and a person.
Seriously, whether you’ve had a bad trading year, good one or somewhere in between, it’s time for an honest self-assessment of the things you did right and wrong over the course of the 2014. To be the trader you want to be, you’ll need to own up to the mistakes you’re making and figure out a way to avoid them moving forward. If you can’t be honest with yourself about your trading performance in 2014 and own up to the mistakes you committed, you stand little chance of turning the ship around in 2015.
If you’re ready to take an honest look at how you did this last year in the market and devise a plan of action to firm up your trading in 2015, then read on. If you are the type of trader with a big ego who doesn’t want to admit to your mistakes, then it’s best to stop here.

Stay away from market for few days

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Petronet,Adani and Union Bank Elliot wave analysis

Petronet

Positional traders should look for 212 as trend changer level,closing above it stock can head to 220, unable to do so 200 is back on cards.

Buy above 210 Tgt..

 

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FII FnO Data Analysis for 23 Dec

• FII's sold 5.2 K contract of Index Future worth 106 cores, 99.7 K Long contract were added by FII's and 94.4 K short contracts  were added by FII's. Net Open Interest increased  by 1.94 K contract ,so FII's rollovered heavily today.

 Nifty continued with its upward journey with gaps and crossed its  50 SMA and closed above the AF line will increasing the possibility of nifty  heading towards 8400/8500 range before 31 December. Any close below 8200 will make bulls jittery and give confidence to bears. Breakout in Hourly charts and gann box also..

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SAIL,Voltas Ichimoku Clouds analysis

Ranbaxy

 

Positional traders should look for close above 623 for short term target of 631/644/665.
Intraday Traders should trade of below mentioned levels

Buy above 621 Tgt

 

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Bank Nifty Weekly Analysis for Dec Expiry

Last week we gave  Nifty Chopad level of 18296  .Bank Nifty did 3 target on downside  rewarding chopad followers by 600 points. Lets analyze how to trade Bank Nifty in expiry week

Bank Nifty Hourly

Bank Nifty hourly chart will breakout above...

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Nifty Weekly Analysis for Dec Expiry

Last week we gave  Nifty Chopad level of 8205 Nifty  did 3 target on downside and got stop out on upside ,Nifty after making short term bottom @ 7961 is back above 8200 We have Jharkhad and J&K election results coming on 23 Dec and Expiry on 24 Dec .Lets see how to trade next week.

 Nifty Hourly Chart

Nifty Hourly charts is approaching its trendline resistance @8306 crossing the same the upmove will continue till 8380/8450 else we might see pullback again towards..

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How much Nifty can rise in current bull market

How Bulls markets are made?

"Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria" - Sir John Templeton

India has first major Bull market when Sensex moved from 400 in 1989 to 4546 in April 1992 a Rally of almost 1100% in matter of 3 years which will be remembered for Liberalization and reforms by Manmohan Singh  . After that we got the Harsh Mehta scam where Sensex tumbled from all time high of 4546 to 1980 low made in Apr 1993.  Next Major Bull market was seen from 2003 to 2008 where Sensex Rallied from 2900 to 21K and Nifty from 1000 to 6333 a run of almost 700 %.
From the highs of 1992 till 2003 Sensex did not did anything trading in the wide range in between we got the Asian Market crisis, Dot com bubble but overall Sensex remains in the range than the Big breakout came in 2003 and Sensex and Nifty saw a 7 fold rally till 2008.
So as per above analysis multi year Bull runs

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Bulls Bears fights for 50 SMA,FII FnO Data Analysis

• FII's sold 4.3 K contract of Index Future worth 80 cores, 17.6 K Long contract were added by FII's and 21.9 K short contracts  were added by FII's. Net Open Interest increased  by 39.5 K contract ,so FII's added long in Index Futures  and continue adding shorts in index future.

 Nifty continued with its upward journey with gaps got stalled near 50 SMA and the Andrew Pitchfork lower line, closing above the AF line will increase the possibility of nifty  heading towards..

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Frustrating Things That Struggling Traders Do

Recently, a couple people I know packed up and quit trading after struggling for a long time to hold their heads above water. They didn’t make it. This isn’t unusual of course - this profession has a high failure rate - but it frustrated me.
It frustrated me because I could see potential in them. I don’t believe you have to be particularly talented or intelligent to be a successful trader, but they seemed to have a grasp on the market and the necessary love of trading. They had the tools, they had the knowledge, they had the time, and they had the funds. It also frustrated me because I could see the pressure they were under that contributed to their failures. Most of all though, it frustrated me because I could clearly see what they were doing wrong, but they just couldn’t stop from making the same mistakes over and over.
This happens a lot. I see a lot of people making the same exact mistakes. So I thought I would share my list of the seven most frustrating things that struggling traders do…

1. It frustrates me when people will not do their own homework.
Too many people want to make money, but aren’t willing to put the time in and do what it takes. I love answering questions, and I have a passion to help people learn, but when I notice someone asking the same questions over and over, and they are basic questions that anyone could google if they gave it 30 second’s effort, I know they are lazy and probably won’t make it.
You want to know what makes a successfu

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Rel Infra,Reliance Gann Box Analysis

Rel Infra

Buy above 508 Tgt

 

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Has Nifty formed short term bottom,FII FnO Data Analysis

• FII's bought  1.7 K contract of Index Future worth 36 cores, 15.4 K Long contract were added by FII's and 13.7 K short contracts  were added by FII's. Net Open Interest increased  by 29.2 K contract ,so FII's added long in Index Futures  and continue adding shorts in index future.

 Nifty has corrected the scared 666 points in the current correction, Review of Nifty Corrections in 2014  .As discussed yesterday Today fall has lead to capitulation as the last savior of Bulls pharmas cracked today, market showed good recovery from the low of 7961 but till it do not close above  8082 bears are still having upper hand. Nifty has taken support near the Gann Box, also signalling short term bottom can be formed soon.  So signs of..

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Bank India,Jubilant Food and IDFC Harmonic pattern analysis

Bank India

Positional traders should watch for close above 288 for short term target of 300/310/322.
Intraday traders can use the below mentioned levels

Buy above 285 Tgt..

 

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Nifty corrects 666 points, FII FnO Data Analysis

• FII's sold 24.6 K contract of Index Future worth 493 cores, 6.3 K Long contract were liquidated by FII's and 18.2 K short contracts  were added by FII's. Net Open Interest increased  by 11.9 K contract ,so FII's liquidated long in Index Futures  and continue adding shorts in index future.

 Nifty has corrected the scared 666 points in the current correction, Review of Nifty Corrections in 2014  .Today fall has lead to capitulation as the last savior of Bulls pharmas cracked today, market showed good recovery from the low of 7961 but till it do not close above  8082 bears are still having upper hand. Nifty has taken support near the Gann Box, also signalling short term bottom can be formed soon. Current market correction Bull market correction are fast and furious so use the dips to enter delivery based buying. As per quantitative analysis maximum rise seen in current fall is 80-90 points so if we rise more than 90 points we can see..

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Nifty continue with fall, FII FnO Data Analysis

• FII's sold 24.7 K contract of Index Future worth 556 cores, 19.6 K Long contract were added by FII's and 5 K short contracts  were added by FII's. Net Open Interest decreased  by 24.7 K contract ,so FII's liquidated long in Index Futures  and continue adding shorts in index future.

 Nifty has corrected 575 points in the current correction, Review of Nifty Corrections in 2014  Nifty has broken both AF support and 50 SMA with gap down, now heading towards the 61.8% Fibo retracement of current fall. Nifty has from past 3 times bounced from this level as shown below. Bull market correction are fast and furious so use the dips to enter delivery based buying. As per quantitative analysis maximum rise seen in current fall is 80-90 points so if we rise more than 90 points...

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Nifty trades around 50 DMA, FII FnO Data Analysis

• FII's bought 6.6 K contract of Index Future worth 178 cores, 7.6 K Long contract were added by FII's and 0.9 K short contracts  were added by FII's. Net Open Interest increased  by 8.6 K contract ,so FII's added long in Index Futures more aggresively and continue adding shorts in index future.

 Nifty has corrected 475 points in the current correction, Review of Nifty Corrections in 2014  We are near AF Support, September month resistance of 8181 and 50 SMA, so traders shorts can book profit. Bulls will get...

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Bank Nifty Weekly Analysis for 15-19 Dec

Last week we gave  Nifty Chopad level of 18816  .Bank Nifty did 3 target on downside  rewarding chopad followers by 520 points.  Lets analyze how to trade Bank Nifty next week.

Bank Nifty Hourly

Bank Nifty forming ascending triangle pattern break of 18200..

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Nifty Weekly Analysis for 15-19 Dec

Last week we gave  Nifty Chopad level of 8546 Nifty made high of 8627 and came down till 8504 did 1 target on downside,Nifty  continued with its upward journey and make new life highs but closed negative on weekly basis after 6 straight weekly rise.Lets see how to trade next week.

 Nifty Hourly Chart

Nifty Hourly charts has broken its trendline @..

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Review of Nifty Corrections in 2014

Nifty has been correcting after hitting all time high of 8627 and started its downward journey. Lets review the previous correction in 2014 to get an idea how much deep this correction can run.


As per above analysis we are approaching..

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Nifty enter support zone, FII FnO Data Analysis

• FII's bought 14.5 K contract of Index Future worth 352 cores, 37.6 K Long contract were added by FII's and 23.1 K short contracts  were added by FII's. Net Open Interest increased  by 60.7 K contract ,so FII's added long in Index Futures and continue adding shorts in index future.

Nifty has broken its hourly channel,broken its 38.2% retracement. Nifty has corrected 411 points in the current correction, maximum correction seen in current bull market was 476 points.  We are near AF Support, September month resistance of 8181 and 50 SMA, so traders shorts can book profit. IIP data is very bad..

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Bajaj Auto,Rel Infra and M&M Finanace Harmonic Patten analysis

Bajaj Auto

Any close above 2584 stock is heading to 2639/2673/2728 in short term.

Buy above 2570 Tgt..

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FII FnO Data Analysis for 12 Dec

• FII's sold 32.9 K contract of Index Future worth 723 cores, 4.5 K Long contract were squared off by FII's and 28.3 K short contracts  were added by FII's. Net Open Interest increased  by 23.8 K contract ,so FII's squared off long in Index Futures and continue adding shorts in index future.

• Nifty has broken its hourly channel and going below the low of 8272 which is 38.2% retracement ,  Bulls should look for close above 8350 to confirm correction is over and any close above 8440/8450 would confirm we can again move up till 8550/8580 range. Break of 8272 on closing basis can decline till 50 DMA.

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S&P 500 ready for Santa Rally

he S&P 500 closed lower by 1.64% on the day to 2026.14.  Those who write headlines are blaming the fall on falling energy prices but there is another possibility for why we fell.

After the double top (marked in blue above) in the S&P broke 2050, a pattern target of 2021 was triggered.  Today’s low of 2024.26 was only three points above this level.  Therefore, some additional downside to meet this target is possible.  However, the pattern target is also a confluence zone with the 23.6% retracement level and a bullish backtest of the September highs.  This is the level technicians will want to see the market hold.

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FII FnO Data Analysis for 11 Dec

• FII's sold 35.8 K contract of Index Future worth 845 cores, 21.5 K Long contract were squared off by FII's and 14.2 K short contracts  were added by FII's. Net Open Interest decreased  by 34.4 K contract ,so FII's squared off long in Index Futures and continue adding shorts in index future.

Nifty after 310 point  decline held on to 8300 and consolidated in range through out the day. Nifty held on to its trendline support now Bulls should look for close above 8394 to confirm correction is over and any close above 8440/8450 would confirm we can again move up till 8550/8580 range. Break of 8300..

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Nifty near make/break level of 8300, FII Data Analysis

• FII's bought 13 K contract of Index Future worth 210 cores, 23.7 K Long contract were added  by FII's and 10.6 K short contracts  were added by FII's. Net Open Interest increased  by 34.4 K contract ,so FII's added long in Index Futures and also added shorts in index future.

Nifty decline second day in a row another 100 points shaved off. Nifty is approaching two crucial levels EW target of 8300 and trendline support as shown in below 2 charts. If tomorrow 1 hour low is held nifty..

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FII FnO Data Analysis for 09 Dec

• FII's bought 9.6 K contract of Index Future worth 60 cores, 18.1 K Long contract were added  by FII's and 8.4 K short contracts  were added by FII's. Net Open Interest increased  by 26.4 K contract ,so FII's added long in Index Futures and also added shorts in index future.

Nifty after 34 days of rise saw 1% decline, after last few days of sideways move, Has it started a fresh downtrend or another opportunity for Buy on Dips before..

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Tata Steel,Rel Infra and Lupin trendline analysis

Tata Steel

Closing above 466 stock is heading to 480/492 and 521.

Buy above 464 Tgt..

 

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Bank Nifty Weekly Analysis for 08-12 Dec

Last week we gave  Nifty Chopad level of 18556  .Bank Nifty did 1 target on downside and 2 target on upside rewarding chopad followers by 400 points.  Lets analyze how to trade Bank Nifty next week.

Bank Nifty Hourly

Bank Nifty took support @ its 21 HEMA, holding the same bank nifty will bounceback to new high, any break below 18700 can see downmove till 18633.

Bank Nifty Hourly  EW Daily

Hourly Elliot wave analysis is shown

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Nifty Weekly Analysis for 08-12 Dec

Last week we gave  Nifty Chopad level of 8620 Nifty made high of 8627 and came down till 8504 did 1 target on downside,Nifty  continued with its upward journey and make new life highs but closed negative on weekly basis after 6 straight weekly rise.Lets see how to trade next week.

 Nifty Hourly Chart

Nifty Hourly charts has meet its trendline support@ 8500,Breaking the..

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How to trade using Andrews Pitchfork

History

Andrews developed his own method of predicting where price is going to go in the market. He said that his method will predict with 80% certainty where price is going to be. He originally called it the Median Line Method. One of the most popular Median Line Method tools were the reaction lines. These lines, when drawn on a chart, looked very similar to pitchforks to his students. So over time the name of this tool changed to the Pitchfork. And in more recent times they named it the Andrews Pitchfork, to credit the man who invented this amazing technical analysis technique.

DEFINITION of 'Andrew's Pitchfork'

A technical indicator that uses three parallel trendlines to identify possible levels of support and resistance. The trendlines are created by placing three points at the end of identified trends. This is usually achieved by placing the points in three consecutive peaks or troughs. Once the points have been placed, a straight line is drawn from the first point that intersects the midpoint of the other two.
Also known as "median line studies".

How to draw an Andrews Pitchfork in 5 steps

Almost every piece of charting software has an Andrews Pitchfork tool, but to understand the inner workings I am going to walk you through the steps of how Alan H. Andrews and his students used to draw one of these pitchforks by hand.
This might be a little too technical in certain parts, but if you don’t understand something just read over it and look at the image. The image with the chart should explain enough for people that are not...

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Trading Mindset :Professional trader should have Part -I

This is the message one of my students wrote to me

“I don’t get it. I know there is good money to be made in trading (I see people doing it) and I’ve known success before. It’s not like I don’t know what a winning mindset is. I’ve proven myself before. Yet trading success still eludes me after a number of years, and I don’t know why. I’ve made success happen in other areas of my life, I work hard, I’m goal-oriented, I’m motivated, have a great attitude, have a good analytical mind, I’m a proven leader, and I know how to win. So, what’s wrong? What is it I am missing?”

SUCCESS IN OTHER FIELDS DOES NOT TRANSLATE INTO TRADING PERFORMANCE

If you hang around traders talking shop very long (and being honest), you will hear this story repeated endlessly. Many people who have devoted themselves to becoming a professional trader have experienced success in other fields before they came to trading. They know how to trade when the pressure of risking capital is not part of the equation of trading success.
In fact, one of the first flaws they bring to their new (or not so new) career in trading is that they assume the same psychological skills that aided them in their past career could also be leveraged to produce the same kind of success in trading without modification for the rigors of trading.
This is a misguided, and often an account damaging, flaw. Somehow this aspect of risking capital in real time makes for a completely different calculus of performance. Success in many other fields is rooted in pushing your will upon the world and, by sheer hard work, will power, and ignoring fear, conquering the world “out there.” The skills of setting goals and assertively making those goals happen by taking personal control of fear are honed into powerful tools for shaping the future. And with this kind of thinking, if you don’t succeed, you just push even harder to make things happen. Additionally, you must be in control of the factors that bring forth the envisioned reality.
Success, you are taught in this paradigm, comes by aggressively acting upon the world and making it happen according to your will. This formula for success is at the root of many a successful business and career. And out of that success comes the assumption that the same principles, applied to trading, will continue to produce success.


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Siemens,OBC and Biocon Elliot Wave analysis

Siemens

Any close above 987 stock is heading towards 1021/1042.

Buy above 980 Tgt..

 

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FII FnO Data Analysis for 05 Dec

• FII's sold 32.2 K contract of Index Future worth 756 cores, 24.3 K Long contract were squared off by FII's and 7.8 K short contracts  were added by FII's. Net Open Interest decreased  by 16.4 K contract ,so FII's squared off long in Index Futures, added shorts in index future.But with this big selling also NF was up by 27 points and BNF closed up 112  points showing no major impact seen in market.

Nifty made a new life High @ 8637  saw a pullback of 100 points @8526 ,so again the 100 point concept came in rescue for bulls and nifty rallied to close @ 8564. So low of..

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Trading Strategy And Trading Plan

A solid trading plan is the cornerstone of your trading business. Unfortunately many traders think that all they need is a trading strategy. This is NOT the case! Let me explain the difference between a trading strategy and a trading plan.
A trading strategy tells you when to enter and when to exit trades. A trading plan is more comprehensive than a trading strategy. A trading plan covers at least seven elements:

1. The market(s) you want to trade.
2. The timeframes you want to trade, e.g. 5 min, 10 min, tick or range bars.
3. A brief description of the strategies you want to trade and when to use what strategy.
4. The entry rules of the strategies.
5. The exit rules of the strategies.
6. Other important rules, e.g. when to trade and when not to trade.
7. The money management approach you are using.

You will notice that I approach the markets with multiple trading strategies. Every professional trader uses more than one trading strategy for a very simple reason: Typically trading strategies are

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LIC,Rel Cap and Coal India Elliot Wave Analysis

LIC Housing

Any close above 436 stock is heading to 450/466 in short term.

Buy above 437 Tgt 

 

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FII FnO Data Analysis for 04 Dec

• FII's sold 47.2 K contract of Index Future worth 997 cores, 40.1 K Long contract were squared off by FII's and 7.1 K short contracts  were added by FII's. Net Open Interest decreased  by 33 K contract ,so FII's squared off long in Index Futures, added shorts in index future.But with this big selling also NF was up by 3 points and BNF closed up 60 points showing no major impact seen in market.

Nifty saw a pullback of 119 points ,so keep an eye of this pullback if it extends more than 100 points as discussed in previous post  correction will resume ,else again march to new highs will be seen.so low of 8500 is very important number to be watched. Nifty On hourly charts is near the channel bottom with Hourly oversold..

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Adani,JSW Steel and Cipla Harmonic patten analysis

Adani Power

Any close above 47 stock is heading towards 50/55.

Buy above 45 Tgt..

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FII FnO Data Analysis for 03 Dec

• FII's sold 55.5 K contract of Index Future worth 1295 cores, 52.9 K Long contract were squared off by FII's and 2.5 K short contracts  were added by FII's. Net Open Interest decreased  by 50.3K contract ,so FII's squared off long in Index Futures, added shorts in index future.But with this big selling also NF was down just 20 points and BNF closed up 20 points showing no major impact seen in market. Most of these positions were bought before the event and once it got over were squared off immediately.

Nifty saw a pullback of 119 points ,so keep an eye of this pullback if it extends more than 100 points as discussed in previous post  correction will resume ,else again march to new highs will be seen.so low of...

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