iCharts Discussions

[rameshraja]

COMPASS FOR 10.11.2008

Last Friday, the first half of the session market was in a tight range looking for direction and in the second half, Nifty movedup on momentum (after initial period of consolidation) to 3027 and gaveup the gains from high and finally settled at 2985.80. My sense is Nifty is going to be in a range bound trading until 3299 or 2850 is takeout. If we look at Weekly chart of a few stocks, IT sector and Autos and Auto ancillary stocks are looking weak. Frontiline stocks like Infosys / Satyam / Tata motors / Tata steel / Sterlite are looking weak and they will continue to underperform the market.

The Nifty Future Range for the day : 3050 - 2925

Incase of Nifty Future crossing 3104, then market will be put in high momentum on upside for the next few days.

Trading Levels for Nifty Future for the day :

As per Step 2 Trading System:

3191.20 3177.55 3155.55 3142.00 3120.15 3106.65

3084.90 3071.50 3049.90 3036.55 3015.05 3001.80

2980.40 2973.05 2967.25 2963.20 2954.10 2946.00

2937.90 2928.85 2924.80 2919.10 2911.75 2890.70

2877.75 2856.80 2843.90 2823.10 2810.30 2789.60

2776.85 2756.30 2743.65 2723.20


As per redefined CAM Levels:

R 10 3228.90
R 9 3201.85
R 8 3174.85
R 7 3147.85
R 6 3120.85
R 5 3093.85
R 4 3066.85
R 3 3026.30
R 2 3012.80
R 1 2999.35

S 1 2972.25
S 2 2958.55
S 3 2944.90
S 4 2904.05
S 5 2876.80
S 6 2849.50
S 7 2822.25
S 8 2795.00
S 9 2767.75
S 10 2740.50


Best Wishes

C T RAMESH RAJA

[krao3456]

Dear Mr. Raja
What is a step 2 trading system? Is there a post in the forum on this? If yes, please give me the link.

Your camrilla pivot levels does not match with the general cam pivot calculators that are available on the net. Which one do you use.

Appreciate if you can give me the link for the same.

Thank you!

Regards
K Rao

[rameshraja]

Mr K Rao

Step 2 trading level is explained in my post on 19.09.2008.

Regarding your second querry about Camarilla Level, what I upload in Forum as a work sheet is correct calculation. You can ignore other sites fomula in computing the same.

The redefined levels of CAM which I post in Forum From R1 to R10 and S1 to S10 is derived by me using the same Beta calculation.

Trust my answers meets your querry.

Regards

C T RAMESH RAJA

[shekharinvest]

rr sir,

have not seen your posts for couple of days in compass.
hope all is well ?

shekhar

[hdobhal]

Dear Ramesh Sir,

Like Shekhar I am also eager to read your posts, pls restart asap...

Today 2626 was breached on Nifty Future, which means the Fibo 61.8% retracement of up move from Oct highs has been officially over. Please confirm Sir.

[rameshraja]

Dear Mr Harish and Mr Shekar

I have takenup some assignment with an Institution and therefore stopped coming to shout box and writing in Forum. I am happier today that atleast, I am away from all my critics in shout box.

Mr Harish, are you in Delhi ? If yes, please let me know and I can pay a visit to you when I am there during my visit to ND.

Best Wishes

Regards


C T RAMESH RAJA

[murthy0203]

Dear RR sir

Like our friends,I am eager to watch your posts.Sir I am a beginner and getting a lot of benifit with your posts.I am very thankful to you.

murthy0203

[hdobhal]

Wow Ramesh Sir,

Great! I am sure the institution with which u have taken assignment also benefits from your knowledge and experience.

I am in Dehradun, 7 hours from Delhi. Please tell me when you are coming.

Best Regards
Harish

[Stockhunter]

Hi RR sir, In case you are in Delhi.. please leave me amessage... it will be great to meet you.

Best of luck for your assignmeent.

Cheers

[sanmen]

Hello RR sir, please let us know when are u there in Delhi...surely wont like to miss this opportunity to meet you sir...waiting for ur response eagerly.

rgds

Sandeep

[GAJRAJ]

RR Sir
though every one on SB is Bullish now & talking about reversal i want your comment on the pattern of H&S formation on nifty if nifty reverse from here or +- 100 points kindly see the chart in attachment.
We miss your presence on SB.

[rameshraja]

Hello Mr Gaj Raj

I observe there is a two and half months cycle happening in Nifty for the last one year. Taking parallels from that, I think it has made temporary bottom. If Nifty futures takesout the high of 19th November 2008 which is at 2782 ( which happens to be the high of Key negative reversal), market can moveup.

Last Friday move was phenomenal one, which conveys market wants to moveup. However on safer side, keep SL of 30 minutes Bar low of 2.30 to 3.00PM of 21.11.2008, if you want to long in NF.

Best wishes

C T RAMESH RAJA

[GAJRAJ]

thanks for taking time off & replying sir

[Stockhunter]

This is for all members of RR fan club (and for some non-fan's as well):

Mr RR, in August this year when Nifty was around 4400 levels, announced in his trading room that after October 6th, the markets will see an unprecedented blood bath. He had predicted Nifty to first hit a bottom around 2200 levels and then stay rangebound and probably hit 2000 levels as well before recovering later next year.

I dont know if it's a result of his hard work in reading the markets for last so many years or some precognitive abilities which he possesses, but the first half of the prediction came true with Nifty hitting 2200 levels in November itself.

Well done RR sir.

[rameshraja]

Nifty Future crossing yesterday's high of 3148 should move to 3230 - 3275.

Takingout yesterday's high of 3148, SL should be 3104.

Stocks to watch for Long:

HDFC / HDFC Bank / Grasim / JSW steel

Stocks to watch for Short :

Bharti Airtel and DLF.


C T R