Wednesday, July 21, 2010
Thursday, July 15, 2010
Business News
1.Jet Airways in code share pact with Kenya Airways
2.TCS CEO: chasing 15 large outsourcing deals
3.India 2010 gold imports seen at 500-550T - trade exec
4.Glaxo takes $2.4 bln charge, Avandia mostly settled
5.New strike hits Honda parts supplier in China
6.Tata Consultancy Q1 net up 21 pct, beats forecast
2.TCS CEO: chasing 15 large outsourcing deals
3.India 2010 gold imports seen at 500-550T - trade exec
4.Glaxo takes $2.4 bln charge, Avandia mostly settled
5.New strike hits Honda parts supplier in China
6.Tata Consultancy Q1 net up 21 pct, beats forecast
Sunday, July 4, 2010
Wednesday, June 30, 2010
Sunday, June 27, 2010
WEEKLY UPDATE
There is a high chance that markets are forming a rounding top pattern on weekly charts... we are still halfway within the pattern as a lower high/ lower low is not yet formed. This means a move of another 6 months is still pending.
The substantial overlap in last few months does point to a topping out pattern and the fact remains that markets are still at the place they were in Oct last year.
If the view of a rounding top is correct, it will mean that markets will start forming lower highs and lower lows over the next 5-6 months without breaking 4500. This can be tremendously frustrating from a trading perspective.
Above remains a theorotical view... for a practical view, traders as usual should follow the hourly charts.
The substantial overlap in last few months does point to a topping out pattern and the fact remains that markets are still at the place they were in Oct last year.
If the view of a rounding top is correct, it will mean that markets will start forming lower highs and lower lows over the next 5-6 months without breaking 4500. This can be tremendously frustrating from a trading perspective.
Above remains a theorotical view... for a practical view, traders as usual should follow the hourly charts.
Monday, June 14, 2010
14.6.2010 nifty
The short term trend remains up with further/ additional confirmation coming today. Consider trend to be up as long as 5150 holds in futures.On hourly charts, a channel is visible. While this does not have any bullish or bearish implications, it shows the trading limits before some reversal can happen.On EOD charts, the kplswing has given a BUY (N=20).The last trade (SELL) has given a minor loss. Incidentally, this indicator has whipsawed 5 times in last 6 months due to the rangebound nature of the markets. On a different note, a whipsaw itself alerts one to likely of a rangebound market. Because of this rule, a buy signal shd be ignored on nifty unless one is having tight/ trailing SLs.
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