iCharts Discussions

shashangan · Posted: Tue Oct 30, 2012 9:31 pm Post subject:

Yes Acharyams, Like I had mentioned it's a long term view. The mkt will be in a big range for the whole of November. Around min 5775 it will again try in November

I have a training program & a couple of meetings, so I may not be there tomorrow during trading hours.

If I am not wrong, tomorrow's range - Nov will try 5645 min & 5660 max on the higher side & around 5590 area on the lower side. You can buy if high comes first & then the low since it will start pulling back at closing.

The mkt will close probably a bear tomorrow & will recover on Wednesday to close higher again.

The mkt may try overall around 5560 area by Friday before resuming the up trend again. See these are based on my own analysis & calculations, I can tell intraday little precisely but cant exactly tell future target points.

The people who understand what I am talking will be wondering why I am disclosing everything, because it can stop working. So I am also risking myself by telling the entire move, since rarely people give such detailed projection of their analysis even if I could be right & If I am wrong I am giving room for the Pandora box to open for people to laugh & give all sorts of comments.

Trends can change with certain moves. The mkt deviates for a short period when some major news happens or due to fluctuations in Rupee. I cant carve a move like how I want, so it's difficult to track both & give exact projection. It's a approximate guess, It can be more or less right.

So this week the mkt has weakened so the up move will be only next week & probably Nov 2nd week it should be near min 5775 or higher. Too early to say. let's see

Good luck

Gautham Shashangan

shashangan · Posted: Wed Oct 31, 2012 5:36 pm Post subject:

Sorry friends I Had a busy day today, but hope the projection i gave for this week was more or less right so far.

If you saw the mkt did pull back after it made a new low towards closing. And the high was more or less precise.

Though i did project 5590 it took turn from 5613. So as I mentioned we cant say exact level where it can reverse, since you have to see the running mkt to give exact levels & other problem is it's difficult to hold your impulse if you see the live mkt.

The first chart for long term was given just to give you an rough idea of the bigger move & also to show I make sense with my analysis, than just saying mkt will go there or here. I have to show the facts & figures for people to believe what I am talking.

It takes a lot of pain to draw & make a picture for somebody's benefit, because for me I know the trend from experience, I dont have to draw & save it. But that chart was for other traders, so it gives them some insight into the future, because most traders rarely hold that long positions, so it doesn't make any sense to most traders even if the prediction comes right, because nobody will make an investment based on that chart. So dont worry about the 1st chart. You should have the long term picture in mind even when you do a short term trade, so it helps you to plan your risk, than getting caught off-guard with a sudden rally or crash.

One thing I can sense from my experience for the whole of November is it's going to catch people off guard & confuse them. It can make a short rally where all shorts will panic & cover their short or most stops will be taken & then it will come back & break these same lows & trap the longs or people who stopped & reversed. This is my feeling, I am not God. Let's see.

Hope to be there tomorrow, unless something comes up.

Good luck & thanks
Gautham Shashangan

dharmeshtr · White Belt Joined: 10 Feb 2011 Posts: 205

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

[quote="acharyams"][quote="shashangan"]Sorry friends I Had a busy day today, but hope the projection i gave for this week was more or less right so far.

Surprised

shashangan · Posted: Thu Nov 01, 2012 3:12 pm Post subject:

Hello Dharmesh,

Logic - Not sure, but accoding to my anylysis it can try that level. I could be wrong.

Thanks
Gautham Shashangan

shashangan · Posted: Thu Nov 01, 2012 3:15 pm Post subject:

I am not sure now. The mkt looks a bit choppy, not very clear of tomorrow, I would say hang on for tomorrow or mkt to give some clear pic. Monday is normally the ideal time to buy options if trend is clear, since weekends the premium goes down.

Thanks
Gautham Shashangan

[/quote]
how is it to buy 5800 call?[/quote]

shashangan · Posted: Thu Nov 01, 2012 3:25 pm Post subject:

My prediction so far ok. But the mkt has made a considerable recovery & still looks strong tomorrow & should break today's high.

Let us see how far it can go up & what would be the correction strength. Then probably I can tell if it's coming back down for a low or going up further.

Regards,
Gautham Shashangan

shashangan · Posted: Fri Nov 02, 2012 9:55 am Post subject:

Nov NIfty may give a small correction from 5728-31 to around 5695 area. The trend is still bullish, the mkt should break the high after correcting again according to me.

I dont want to recommend any entry as of now, I am just telling you a possiblility.

Thanks
Gautham Shashangan

shashangan · Posted: Fri Nov 02, 2012 11:57 am Post subject:

The mkt has been quiet, in a correction mode as I had mentioned. It looks nearing the end of correction & will soon go to break the high before 1 pm if I am not wrong.

You can place an order to short Nov @ the next high 5730-34. I feel the next high should be the end of the high for the day & it wont cross the levels mentioned, if a wild extension it may try 5745 not beyond.

Though it's still overall bullish, around 5730 it will get into a intraday correction to min 5705. I don't see any wild bullishness as of now, There could be a pull back after the correction before closing, let's see. But for now as above.

I know lot of stop traders would buy on breaks, but dont worry, I am a pyschology trainer as well, the next break is to confuse people & eat the stops just above resistance. It's from my experience, I am confident of my calls when I make, but I can also go wrong at times.

Play cautiously

Happy trading
Gautham Shashangan

shashangan · Posted: Fri Nov 02, 2012 12:37 pm Post subject:

There is one more high & it will reverse. It wont cross 5752. Stops can be placed at 5758 & above

Like I mentioned earlier, I am a bottom or top picker, so it's generally difficult to tell exact levels, sometimes I miss levels, it's because it depends on the pressure & the no. of stops placed below or above, which I can't guage. So at times it misses or extends.

If there is a panic due to excessive stops then the pressure continues & I go wrong but as of now it looks ok

Good luck
Gautham Shashangan

jyothil · White Belt Joined: 26 Feb 2009 Posts: 299

shashangan · Posted: Fri Nov 02, 2012 1:50 pm Post subject:

Yes Jyothi, so far so good. I generally go away from screen once I enter & place a stop, so I dont change my stops by getting emotional or impulsive.

The target should be 5715 around min. & can extend to around 5695 by tomorrow, before taking a reversal up I think. Mkt holding, Let's see.

Good luck & thanks,
Gautham Shashangan

Sir,

Nifty Fut high is 5745 as you said

G.Jyothi[/quote]

shashangan · Posted: Fri Nov 02, 2012 2:34 pm Post subject:

ok friends. I have a couple of meetings. Will see you tomorrow

Thanks
Gautham Shashangan

shashangan · Posted: Fri Nov 02, 2012 6:56 pm Post subject:

Acharyams & Dharmeshtr asked on 30th & 1st Nov based on my 30th Oct projection of still a bull trend when Mkt had broken out of range & everybody turned bearish.

I know there was no logic when mkt broke out of the congestion down & I would have looked stupid at that time still giving 5775 prediction. Hope it makes sense now.