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Nifty View - December '14 Series |
vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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Post: #166  Posted: Wed Dec 10, 2014 3:16 pm Post subject: |
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| apka wrote: | | vinay28 wrote: | yes, in fact three "identical" black crows since 2nd and 3rd candle opened near close of previous one implying much more fall. The only doubt about this formation is that the first candle did not really start at the high of the trend.
However, if tmrw's candle is green and closes above high of 3rd candle i.e. 8445 then it becomes a rare Mat Hold pattern indicating bullish continuation.
Note that bullish div is developing and hence tmrw may be very strongly +ve. |
now that the reversal hasn't happened as per the level wanted, does it end up confirming the 3 black crows pattern |
apka, yes bearish trend as per those "imperfect" 3 blackies continues. unless of course some other development meaning more bullish move tmrw/this week changes it. once again, remember close <8368NF is SL |
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riteshucha
Green Belt
Joined: 19 May 2012
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| Post: #167 Posted: Wed Dec 10, 2014 3:29 pm Post subject: |
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the first thing that came up when i searched for thrusting pattern was from a website mentioning abt kamausutra poses... 
on a serious note, i feel if tomm, today's high is crossed and sustained and (as per SGX 5 hr chart), if 8342 is held, then we can see a bounce for sure, with first tgt as 8506...82 points above todays SGX high i.e 8424...
"this is strictly my view and not suggesting anyone to take trade" |
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mdsaravana
White Belt
Joined: 07 Feb 2014
Posts: 19
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| Post: #168 Posted: Wed Dec 10, 2014 3:53 pm Post subject: |
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| riteshucha wrote: | the first thing that came up when i searched for thrusting pattern was from a website mentioning abt kamausutra poses...
on a serious note, i feel if tomm, today's high is crossed and sustained and (as per SGX 5 hr chart), if 8342 is held, then we can see a bounce for sure, with first tgt as 8506...82 points above todays SGX high i.e 8424...
"this is strictly my view and not suggesting anyone to take trade" |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #169 Posted: Wed Dec 10, 2014 6:42 pm Post subject: |
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| riteshucha wrote: | | the first thing that came up when i searched for thrusting pattern was from a website mentioning abt kamausutra poses... ..... |
so one more tattoo? |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #170 Posted: Wed Dec 10, 2014 7:45 pm Post subject: |
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This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.
Nifty for Thursday (11/12/14)
Supports are at about 8322 and 8280 while resistances are at about 8383, 8410, 8435, 8460, 8487 and 8499. A previous low was about 8290. Three +WWs can give about 8477, 8490 and 8590 (if above 8341) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8313 and 8287 (-WWs with much lower targets are not mentioned as of now). A bearish flag can give much lower level unless killed above about 8480. A falling wedge can give about 8500 if nifty continues to go up.
Nifty rose after a gap down open and closed above 8350 but is still bearish. There is a mild +ve div and the bullish div seen yesterday exists. Nifty is still in a "sell on rise" mode unless it closes above 8538. Global and local eco-political events can have a bearing on how nifty moves in short term. Liquidity continues to be strong. |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #171 Posted: Wed Dec 10, 2014 8:16 pm Post subject: |
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[ ... the first thing that came up when i searched for thrusting pattern was from a website mentioning abt kama sutra poses ...]
Vinay: do you know that a public- favored position in above mentioned book is also Pope's private tele no. AND also a brand of Scotch (supposedly named after the tele no.). Jeetay raho, Prakash Holla |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #172 Posted: Wed Dec 10, 2014 8:23 pm Post subject: |
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| pkholla wrote: | [ ... the first thing that came up when i searched for thrusting pattern was from a website mentioning abt kama sutra poses ...]
Vinay: do you know that a public- favored position in above mentioned book is also Pope's private tele no. AND also a brand of Scotch (supposedly named after the tele no.). Jeetay raho, Prakash Holla |
hahaha, youuuu |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #173 Posted: Thu Dec 11, 2014 12:29 am Post subject: |
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what is that number? maybe we can find some relevance to it in Nifty as well.
Has anyone seen the movie PI (1998)? It's a must see. Numbers and patterns are involved with a very different approach to movie making. Share market traders will be able to relate to it somewhat. It's a psychedelic thriller and not a commercial movie. |
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apka
Black Belt
Joined: 13 Dec 2011
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| Post: #174 Posted: Thu Dec 11, 2014 8:35 am Post subject: |
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| today sgx isn't falling much even after dows fall. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #175 Posted: Thu Dec 11, 2014 8:47 am Post subject: |
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| apka wrote: | | today sgx isn't falling much even after dows fall. |
apka, I still feel bottom is more or less over e.g. today's low could be about 8349NF. let's see how today behaves. |
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saurabhkurichh
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Joined: 30 Oct 2006
Posts: 127
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| Post: #176 Posted: Thu Dec 11, 2014 9:04 am Post subject: |
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| aapka , in earlier days i too was interedted in the numbers game, i used to find numbers related to Pi and golden ratio in order to predict the stock market. BUt gave up after some time as it was a long , tiring , and a lot of mind indulging task |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #177 Posted: Thu Dec 11, 2014 9:29 am Post subject: |
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| saurabhkurichh wrote: | | aapka , in earlier days i too was interedted in the numbers game, i used to find numbers related to Pi and golden ratio in order to predict the stock market. But gave up after some time as it was a long , tiring , and a lot of mind indulging task |
More important, Saurabh, did all this number crunching help your trading improve?
Prakash Holla |
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saurabhkurichh
White Belt
Joined: 30 Oct 2006
Posts: 127
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| Post: #178 Posted: Thu Dec 11, 2014 9:31 am Post subject: |
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| it did initially , but since it was prediction based, a few predictions that made their mark made happy and those which did not made me travel again. So taking it as a whole, i can say NO |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #179 Posted: Thu Dec 11, 2014 9:35 am Post subject: |
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| saurabhkurichh wrote: | | it did initially , but since it was prediction based, a few predictions that made their mark made happy and those which did not made me travel again. So taking it as a whole, i can say NO |
Saurabh, Thanks for a well thought out and practical answer.
I took a different route, buying many heavy books on trading and options. But have realized that just watching the candles like Al Brooks says and being on the alert for fundamental clues (like 30% drop in crude oil) are of more help! Cheers, Prakash Holla |
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bappa1971
White Belt
Joined: 19 Mar 2012
Posts: 171
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| Post: #180 Posted: Thu Dec 11, 2014 9:39 am Post subject: hello |
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| vinay....got that num yesterday we discussed ....enjoyed it... |
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