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turtlecsi
White Belt
Joined: 28 Jan 2010
Posts: 196
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Post: #106  Posted: Tue Feb 04, 2014 10:19 am Post subject: |
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Going Short OR staying Short at current level is a Risk. Waiting for a pull-back to create fresh position.
We are currently forming an Intermediate term Bottom, that we get Once or Twice in a Year. Do not Panic. This is a Great Opportunity. Make use of it
Invest Wisely,
Turtle |
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manojkr78
Green Belt
Joined: 07 Mar 2011
Posts: 1014
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| Post: #107 Posted: Tue Feb 04, 2014 11:10 am Post subject: |
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| Ok, i am taking small long position here.....if you observer any selling please do update.... |
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turtlecsi
White Belt
Joined: 28 Jan 2010
Posts: 196
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| Post: #108 Posted: Tue Feb 04, 2014 2:01 pm Post subject: |
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| It would be interesting to see , what Nifty does above 5995. |
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turtlecsi
White Belt
Joined: 28 Jan 2010
Posts: 196
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| Post: #109 Posted: Tue Feb 04, 2014 2:21 pm Post subject: |
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| manoj...consider booking gains partially... |
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manojkr78
Green Belt
Joined: 07 Mar 2011
Posts: 1014
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| Post: #110 Posted: Tue Feb 04, 2014 2:27 pm Post subject: |
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| yes booked profit now.....tnx for your remainder.... |
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turtlecsi
White Belt
Joined: 28 Jan 2010
Posts: 196
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| Post: #111 Posted: Tue Feb 04, 2014 9:04 pm Post subject: |
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Latest Observations:
As updated in my intraday post , Nifty pulled back after Opening weakness. Since Nifty was over sold in the short term , there was not much room on the downside. If we see Nifty pullback for a day or two it would be healthy and down-trend may resume there-after...
Expecting Nifty to put an Intermediate term Low before Budget session (17th Feb 2014)...Probable Bottom is likely to be in the range of 5850-5720
1. Both 60M & Daily trends are Negative.
2. Intermediate term Breadth is Neutral.
3. Short term Breadth is not yet Over-Bought.
Invest Wisely,
Turtle |
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turtlecsi
White Belt
Joined: 28 Jan 2010
Posts: 196
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| Post: #112 Posted: Thu Feb 06, 2014 12:16 pm Post subject: |
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Nifty Spot trading and possibly closing above 6050 today, will make 60M trend go positive. Currently both 60M and Daily trends are Negative.
US markets are at a possible Swing Low. There was no visible Supply below 1741 (S&P 500).... Above yesterday's High S&P 500 may rally...
Turn date: 5th /6th Feb 2014
Invest Wisely,
Turtle |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #113 Posted: Thu Feb 06, 2014 2:50 pm Post subject: |
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| what is the basis of your turn date? Is it gann or something else? |
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turtlecsi
White Belt
Joined: 28 Jan 2010
Posts: 196
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| Post: #114 Posted: Thu Feb 06, 2014 3:09 pm Post subject: |
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It may be pre-mature. But looks like we are forming a temporary top.
The turn dates are based on GANN Time-Price cycles. As mentioned before, the Turn Dates on standalone basis are insignificant.
Invest Wisely,
Turtle
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #115 Posted: Thu Feb 06, 2014 4:04 pm Post subject: |
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| turtlecsi wrote: | It may be pre-mature. But looks like we are forming a temporary top.
The turn dates are based on GANN Time-Price cycles. As mentioned before, the Turn Dates on standalone basis are insignificant.
Invest Wisely,
Turtle
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thanks |
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turtlecsi
White Belt
Joined: 28 Jan 2010
Posts: 196
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| Post: #116 Posted: Thu Feb 06, 2014 8:27 pm Post subject: |
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US Markets have Gaped Up and seems to be treading a path much similar to what Nifty did this morning. It would be interesting to see, if Dow follows the same path. Just Curious...
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turtlecsi
White Belt
Joined: 28 Jan 2010
Posts: 196
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| Post: #117 Posted: Fri Feb 07, 2014 12:13 pm Post subject: |
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60M trend has turned Positive.
FIIs are stuck in Short positions. Staying short NOW is a Risk. Taking out day High Nifty may Rally further on Short Covering...
Invest Wisely,
Turtle |
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turtlecsi
White Belt
Joined: 28 Jan 2010
Posts: 196
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| Post: #118 Posted: Sat Feb 08, 2014 10:16 am Post subject: |
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Latest Observations:
1. 60M Trend is positive. Daily trend is Neutral.
2. Intermediate term Breadth is Neutral.
3. Short term Breadth is not yet Over-Bought.
4. Nifty can Pull Back to 6195-6242 in the next couple of sessions.
Although Nifty seems like moving up, its not showing any signs of Accumulation taking place. Rather, it seems like phased Distribution taking place. Its highly probable that, Nifty will go below 5933 (4th Feb Low) and possibly towards 5800 or below in coming days or Weeks. It does not mean I will go short NOW. Protection of Capital is more Important than Profits. Rather I would keep a close watch on the 60M trend, and market internals to look for signs of Weakness. The coming correction as & when it happens, will be Swift & Severe.
Happy Weekend...
Invest Wisely...
Turtle |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #119 Posted: Sat Feb 08, 2014 1:39 pm Post subject: |
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| turtlecsi wrote: | Latest Observations:
1. 60M Trend is positive. Daily trend is Neutral.
2. Intermediate term Breadth is Neutral.
3. Short term Breadth is not yet Over-Bought.
4. Nifty can Pull Back to 6195-6242 in the next couple of sessions.
Although Nifty seems like moving up, its not showing any signs of Accumulation taking place. Rather, it seems like phased Distribution taking place. Its highly probable that, Nifty will go below 5933 (4th Feb Low) and possibly towards 5800 or below in coming days or Weeks. It does not mean I will go short NOW. Protection of Capital is more Important than Profits. Rather I would keep a close watch on the 60M trend, and market internals to look for signs of Weakness. The coming correction as & when it happens, will be Swift & Severe.
Happy Weekend...
Invest Wisely...
Turtle |
Thanks....2 comments...6200 is next couple of sessions? + timewise the levels are posted in Nifty - only chart thread...as per this chart observation u are right in saying that lower levels are possible.......5700 also in Aug would mean overall long term Nifty trend is "bullish" as u mentio n 60M....just correlating your views with chart...i am in agreement.....however closing above 6250-6260 shall invalidate any down projections.... |
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turtlecsi
White Belt
Joined: 28 Jan 2010
Posts: 196
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| Post: #120 Posted: Mon Feb 10, 2014 12:05 pm Post subject: |
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Nifty is looking tired. With a Strong resistance around 6100-6130, there is a good chance of a sharp down move happening as early as tomorrow.
Invest Wisely,
Turtle |
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