iCharts Discussions

[vinay28]

eclipse of 3/11 is of no significance to us nor for most of the developed world.

[turtlecsi]

Since yesterday I have mapped some Sectoral Indices and most of them (Banking/IT/Metals/Media/Auto/Energy/Reality) are over extended. Pharma and FMCG Indices are trading close to their fair value, but have not yet signaled a Buy . I am therefore expecting a correction of some kind. I would love to see market correcting into Dec 2013. But we are close to Elections in a couple of states with results to be declared early Dec . With US Dollar Index rising, INR could come under pressure, so do our markets.

As for Eclipses.... they are as useful/effective as any other technical indicator...One needs to know how to use in conjunction with the price pattern...

Happy Diwali.....

Invest Wisely....

[sen1]

bank nifty will rise further as per the weakly charts.

[turtlecsi]

Nifty has formed a Top as expected. However, if this is a mere reaction in an up-trend, OR an Intermediate Top will get clear in the next couple of sessions.

Chances are that we are forming an Intermediate Top is high based on the following facts...

1. There is extreme Optimism amongst traders. Retailers don't want to MISS the PARTY.
2. Most sectoral Indices are Over-Extended except FMCG and Pharma. Both are counter Cyclical.
3. Nifty is trading above fair value range of 5850-5900. Good Buying opportunity may emerge below 5700 ( Value Zone)

I could be Wrong and market may shoot to the SKY....

One important Time Turning point is 25-26th Nov 2013....

Invest Wisely....

Turtle

[ca.krishna]

ECB has now cut the Interest rate......is it gud or bad for indian market....dear turtlecsi what is there are 25-26 Nov 13.

Thanks

[turtlecsi]

Dear Krishna,

I do not actually follow ECB , Fed etc. So I am not in a position to give an honest opinion. I follow pure Price action in conjunction with TIME. I consider TIME as the most important factor in Market. Everyone is looking at the coming election. But if the internal factor (inflation) goes up RBI may have to increase Rates again sacrificing growth leading risk of Rating downgrades by Agencies. And if US Dollar Index continues its upward ascent and Indian corporations with USD debts and their little or non-existent hedging ability will act to neutralise any positive impact of the coming election results. Forecasting Election result or Central Bank action is difficult. Therefore, I pay more attention to Actual price action.

Invest Wisely,

Turtle

[svkum]

ECB, FED, ELECTIONS, RBI , MARKET SENTIMENTS , USD DEBT, CAD, ETC ETC.
when you have chart infront of you and best charting techniq to be followed , all above mentioned things are just BULLSHEEEEEEEEEEEEEEEEEET.

DONT loose your attn from charts , aplly trading plan ruthlessly come what may -PM OBAMA ELECTIONS DOLLER -

PPL ARE CONFUSED ,THEY ARE CHARTIST , BUT TALK FUNDAMENTALS-
3 YRS , 5YRS RISE AND FALL , ALL USELESS- ANY ACTIONABLE POINTS ?? NO. JUST LOOK SMART TALK SMART AND ADVISE SMART IS FASHION-THESES ARE GOOD ON TV SHOWS.
WHTS REQD TO BE DONE -ACTIONS IN REAL SENSE IS IMPORTANT - BAKI BAKWAAS

[amitagg]

I have same views..mere price action and chart reading and market reading is enough...

I have been day trading regularly and if u see "read the line thread" of past few days many actual trades are discussed (unlike other threads) and u shall see how I have entered, booked, exited, reversed and time to time held "no positions"...all that have given profits (how much not important but constancy of profits is important)

[suresh12313]

amitagg you are right

[turtlecsi]

Dear All,

My approach is to go for Intermediate term swings, which one gets may be 2 or 3 times a year. My current professional obligations, do not allow me to get into day trading or very short-term swing trades.

There are as many approaches to trading/investing as there are number of traders/investors. If I am not able to do something, It does not mean IT CAN NOT BE DONE. It only means , I have not tried enough.

And, most important, my trading/investment style/method, fits by investment objective.



Invest Wisely,

Turtle

[ca.krishna]

Thanks turtlecsi.......that's really gud becuase we see the picture from one side only but sometimes there is something on the other side also...

One thing...can you please elaborate the factor which are relevant in making the price action as well time....

What I understand that to trade after the event happens....then how do we trade when there is no event.

I am not a regular intraday trader but positional traders...

Thanks

[turtlecsi]

So far...Nifty has been moving lower as expected.This is very eventful week.However, Nifty is likely to move downwards, as the short-term trend has turned Negative.

We are now hearing a lot of stories about why INR is getting weak. However, as per my understanding, the inherent cause is not Domestic, but global.

Value area for Nifty lies below 5700.I do not play the intra-day swings and do not plan to forecast them too... I will consider investing close to the value area only.



Invest Wisely....

Turtle

[manojkr78]

hi,

does your level change if any changes observed in your technical setup???

[turtlecsi]

Hi Manoj,

Since I am looking at Intermediate trends...levels change but very slowly... Level will get more specific as we get close to Price-Time Zone...


Invest Wisely,

Turtle...

[manojkr78]

please let us know if you observe any change and start you investing.....