Nifty

Traders are in confused state of Mind

Nifty has given a close with a perfect Doji on Daily charts, signing a Pause to the previous trend or a break before going ahead. In simpler terms, Doji represents confused state of mind of traders. To add more confusion, today’s Doji pinched a New high as well as new low compared to previous closing giving …

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Indian Economy My View

Nifty undervalued in terms of Dollar

Nifty’s move to 9119 in March 2015 from the previous high of 2008 around 6330 was applauded by our traders alot but not investors. This rally i would term as “Traders rally” because fundamentally we were not globally competitive as suggested by our rupee vs dollar (Green line) which has been weakening regularly. Because of our weak rupee, Nifty in terms …

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Nifty

Nifty “Gotala”

Nifty has given a strong weekly move of almost 650 points from the day of the budget to todays opening price which marked high at 7505. Again PSU banks rallied and out-performed but at last it seemed rally was a bit exhausted. After a non-stop rally of 600 points in one week, am bit looking for Shorting opportunities. If …

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Stocks

Century textile positional trade

Century textile has been a strong contender for traders choice in volatility. Stock is today showing strength to give a double bottom breakout signs. Currently stock is trading exactly at Neckline around 465 and risky positional traders should take some risk at CMP. Indicators on daily chart are also showing signs of short covering  from the oversold …

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Nifty

Nifty in Reserve

Today Nifty closed above my expected resistance level of 7447 which was my 50 day average level and recommended target yesterday at “Double Dhamaka”. Looking at todays move on Index, it seems Nifty is going to be unstoppable for a day or two. Technically, Nifty seems to be approaching reserve level for this rally. We must rest  for …

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Dow Theory Knowledge Technical Analysis

Concluding Dow Theory

As we discussed Dow ideas or Tenets yesterday which are pillars, but one more crucial rule of Dow was to consider or give most importance to closing price, irrespective of time frame of chart. He believed averages most close above or below previous low or high to confirm the trend.  So always consider closing price to trigger …

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Nifty

Nifty approaching upside target

Finally we saw some strong move on Nifty after many sessions but yet its not that convincing for a reversal for a long term horizon. As Dow Theory suggest that unless we get a clear reversal signal, we should believe that the existing trend is intact. So i am still not fully convinced for a upside …

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Currency

Hedge against Dollar

Our Rupee has been weakening continuously against Dollar since June 2014, while it was trading around 60/USD. But still it has been trading in the strict upside channel, and importer and exporter could take support of the same and hedge their payments accordingly. Fundamentally, this has been the period where FII has sold heavily in Emerging markets including …

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Nifty

Would it be just one kiss story or will go further?

Technically today was a good day on Nifty daily charts but the weekly closing hasnt been that significant for either side move. So we have to stick to daily chart analysis to get some clear trend. As we saw yesterday, that low was exactly kissed at the strong support of 6960 which was previous weeks low and also the Fibonacci support so it …

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Stocks

Simple tool for great trading idea on Bata India

We try to implement many technical studies and indicators to get some great multiplexer for long term, but a simple trend line could give you the same too. Today i want to show you graph of Bata India and interestingly you guys could notice that stock has been taking strong support on the white line drawn …

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