Indian Stocks

Nifty 26-05-2009: Point and Figure: The reversal lengthens

noreply@blogger.com (Sandy_G) — Tue, 26 May 2009 09:34:00 +0000

The P&F chart appended shows the reversal lengthening. The last call was stopped out at the standard loss of 50 points. Let us wait for the reversal to play out.

Nifty Point and Figure and Candlestick Charts

noreply@blogger.com (Sandy_G) — Fri, 22 May 2009 09:48:00 +0000

22-05-2009: Here's the latest Point and Figure chart for the Nifty. It shows a small reversal on the long column of 'X's - but it is still on a buy mode. Also enclosed is the 5-minute, intraday chart with the inverted head and shoulder pattern. Its not the classic pattern, but looks good enough to take a chance for a small long lot.

Nifty Call # 23

noreply@blogger.com (Sandy_G) — Fri, 22 May 2009 08:14:00 +0000

We have an inverted head and shoulder pattern [slightly messy but a h&s it looks like] on the intraday 5-min nifty chart. Perhaps this is a good entry point.
Call # 23: Buy 1 lot. CMP=4240

Nifty 19-05-2009: Point and Figure: 4500 Hit!

noreply@blogger.com (Sandy_G) — Tue, 19 May 2009 09:18:00 +0000

The Nifty hit 4500 today and has reacted. As of now we have a candlestick formation for the day known as a 'doji' - a tussle, more or less equal, between bulls and bears. The Point and figure chart shown alongside shows a very long column of 'X's. It is still in buy mode, but looks stretched. It is better to stay out for the time being, and look for re-entry opportunities at saner levels.

Nifty 19-05-2009: Call #22

noreply@blogger.com (Sandy_G) — Tue, 19 May 2009 04:52:00 +0000

Call # 22: Sold long position @ 4310 @ 10:16 am today.

Market locked for the day

noreply@blogger.com (Sandy_G) — Mon, 18 May 2009 06:44:00 +0000

The market hit the second circuit-breaker for the day. We do not have the opportunity to book profits. Wait and see tomorrow.

Nifty 18-05-2009: Point and Figure: Whew!

noreply@blogger.com (Sandy_G) — Mon, 18 May 2009 06:01:00 +0000

Folks, hope you were even moderately bullish in your market positions, as this blog recommended on Friday. We have a first-ever up-circuit on Indian stock markets, and as per latest information, trading is locked until 11-55 a.m.

Meanwhile take a look at the lovely P&F chart appended alongside - what a massive buy signal. However, an overnight gain of 15% plus cries out for booking. So I will recommend that liquidate long positions when the markets open. Maybe we can buy lower after the hysteria.

Nifty 15-05-2009: Point and Figure: Bullish

noreply@blogger.com (Sandy_G) — Fri, 15 May 2009 09:22:00 +0000

The P&F chart remains on a bullish tenor. It's the same as yesterday, so I am not uploading a fresh one. The consensus is that one should lighten up completely in case there is a Black Monday after the poll results over the weekend. But we have a long position at 3550, fairly low down, and I would prefer to hold on and take my chances. Looking forward to an exciting weekend!

Nifty 14-05-2009: Point and Figure: Market treading water

noreply@blogger.com (Sandy_G) — Thu, 14 May 2009 09:30:00 +0000

The chart alongside shows the last green X as the latest signal - a buy. But the movement over the past few sessions is indecisive. We would maintain a small long position, with the stop loss @ 3500 as advised.

Great article on Day Trading

noreply@blogger.com (Sandy_G) — Thu, 14 May 2009 03:52:00 +0000

The header of this post is a link to a great article I found on Yahoo Finance, courtesy TradingMarkets.com. Do have a read if you would like to successfully day trade.

Nifty 12-05-2009: Point & Figure: Entry well timed

noreply@blogger.com (Sandy_G) — Tue, 12 May 2009 09:32:00 +0000

Here's the latest Nifty Point and Figure chart. Still bullish. We timed our re-entry well @ 3550 yesterday. Hold on to the long. Look out for advice to pyramid up the position.

Nifty 11-05-2009: Call # 21

noreply@blogger.com (Sandy_G) — Mon, 11 May 2009 08:59:00 +0000

The chart is still bullish but we have a 3-box reversal. I view it as an opportunity for re-entering long for a minimum lot with a stop loss. So here goes: CMP = 3550, stop loss = 3500. Chart follows around 3 pm.

Nifty 08-05-2009: Point & Figure: Market undecided

noreply@blogger.com (Sandy_G) — Fri, 08 May 2009 09:12:00 +0000

The P&F chart today is unchanged over the last one uploaded on 07-05-2009, hence I'm not uploading a fresh one. Market remains range bound with bouts of up-moves and downs. We would like to wait and watch.

India on the road to recovery

noreply@blogger.com (Sandy_G) — Thu, 07 May 2009 00:37:00 +0000

Source: Reuters.
-----------------
Here's an interesting article that says India may already be on the road to economic recovery. Key points:

The ABN AMRO Bank purchasing managers' index (PMI) based on a survey of 500 companies, rose to 53.3 in April from March's 49.5, climbing above the threshold of 50 that separates expansion from contraction.
Demand in India's hinterland is firm and is supporting a vast expanse of the economy. Cement sales have grown at near double-digit rates since November, consumer goods sales have seen strong support from rural markets, while auto demand has firmed after a disastrous December quarter.
Industrial output, which accounts for nearly a quarter of India's gross domestic product, has shown signs of revival after a dismal March quarter.
Savings and investment rates, which have reached close to 40 percent due to the structural changes in the economy, would enable India to sustain an investment rate of 35 percent despite lower capital inflows.
Nice graphic chart enclosed.

Nifty 06-05-2009: Point and Figure: Stay out

noreply@blogger.com (Sandy_G) — Wed, 06 May 2009 09:54:00 +0000

The p&F chart is appended alongside, and is still bullish. But we have had a significant correction from the highs, and we will wait for an opportunity to suitably re-enter.

Nifty 05-05-2009: Sell longs

noreply@blogger.com (Sandy_G) — Tue, 05 May 2009 06:26:00 +0000

Nifty is reacting from a resistance area around 3650.
Call # 20: Sell longs. CMP = 3640.
We may get to re-enter at better prices.

South Asia Stock Indices: Interesting break-out patterns

noreply@blogger.com (Sandy_G) — Mon, 04 May 2009 13:29:00 +0000

I was looking at some Asian stock indices charts, and found an interesting pattern of break-outs from a consolidation area. It appears that stocks in the region are headed higher, and the measuring implications are very encouraging. Just look at the collage of charts below of the Nikkei, MSCI Taiwan, Nifty and Hang Seng.

Nifty 04-05-2009: Move up stop loss to 3600

noreply@blogger.com (Sandy_G) — Mon, 04 May 2009 09:19:00 +0000

P.S. : Suggest that we move up our stop loss to 3600. [Rule: Never let a profit turn into a loss].

Nifty 04-05-2009: Point and Figure: Fresh Buy Signal!

noreply@blogger.com (Sandy_G) — Mon, 04 May 2009 09:10:00 +0000

The massive gap-up opening [actually in the near month future, not in spot] has generated a fresh buy signal. We should hold onto the long position. Ideally would like to add another lot, but these are rarefied heights, and caution is advised. Happy trading!

Nifty 29-04-2009: Point and Figure: Buy min qty

noreply@blogger.com (Sandy_G) — Wed, 29 Apr 2009 09:40:00 +0000

The chart alongside remains unchanged in spite of the market's gyrations. Call# 19: Buy min lot @ 3473 CMP. Stop Loss strictly @ 3423.

Nifty 28-04-2009: Stop Loss Hit @ 3425

noreply@blogger.com (Sandy_G) — Tue, 28 Apr 2009 04:51:00 +0000

Call # 18: Our stop loss of 3425 was hit @ 10:14 am today.

Nifty 27-04-2009: Point and Figure: Keep a small long

noreply@blogger.com (Sandy_G) — Mon, 27 Apr 2009 09:38:00 +0000

The 'X's column has lengthened. But we have a wall at 3500. At the time of writing, the Nifty appears to be coming out of the swine flu shock. We can hold the long with the stop loss at 3425.

Nifty 24-03-2009: Point and Figure: Chart regains bullish flavor

noreply@blogger.com (Sandy_G) — Fri, 24 Apr 2009 09:26:00 +0000

The P&F chart was right after all, it seems. It retained its bullish stance, and we now have a column of 3 'X' s after a small correction. Besides, on the daily charts we have a break-out from a flag formation.
Call#17:
Buy a minimum quantity at CMP = 3475 and keep a stop at 3425.

Nifty 22-04-2009: P&F : The reversal may be upon us

noreply@blogger.com (Sandy_G) — Wed, 22 Apr 2009 09:53:00 +0000

Today's p&F chart attached. The 'O's column lengthens. We may be heading into that reversal after all.

Nifty Intraday Hourly Candle Chart: Head & Shoulders

noreply@blogger.com (Sandy_G) — Wed, 22 Apr 2009 06:33:00 +0000

The Nifty appears to be forming a Head and Shoulders pattern on the hourly chart shown alongside. It has also broken the 60-hour moving average. Taken in conjunction with the P&F chart at close of business yesterday, it is better to move out of longs, and look for oportunity to go short.