EOD 31st OCT :

NIFTY : As expected , today was a green day.
But alas , is it the pullback ? Would be too early to comment , the bounce was not impressive enough.

Impressive pullback would be close above 5650. If it comes, I would find a entry point for target 5850 very short term.

Weekly Nifty stays in BUY mode , its not an amazement that if selling has come in the first half of the week, the later half will pull it back ...

I am BULLISH as before until and unless we clock below 5550.

Today I traded Nifty on long side :

Positive Divergences on 2,15,30 were neatly present during intraday.
November Series :
1st Trade : 5600 CE @ 97    Sold @ 110
 Return :     12 percent Capital Appreciation.
------------The opportunist.
I am EYEING only BUYING opportunities currently.
I squared off my well picked longs intraday because the big fall yesterday was closing with a minor pullback. This is sufficient to warn me before carrying overnight calls in spite of me being bullish.



This week I am engaged at other assignments hence wont be able to post LIVE TRADE updates.
Next week on wards , enjoy the trade as soon as they are initiated.

31st October trade set up

Why I want to go long very soon ?

Nifty Weekly.....

EOD 30th Oct:

NIFTY : Aaah it was a clean fall.
             A long side desperate trader would have registered a bad day today.

An opportunist is safe. He did not get any but did not lose either.

Till the time we don't fall below 5550 , all is good for bulls.
Its a find a long opportunity or don't trade.

As I mentioned yesterday , I will wait patiently to initiate a long trade but today was no opportunity.
Not at any point of the day , Nifty showed a convincing pull back...

A trade cannot be initiated on expectations , I needed the spot price to show convincing pull back from lower levels , but it never gave any chance today.

We made new lows and kept on passing all the day near to it or making a newer low.

Till 3:29 I had the intention to go for a long positional trade but CANNOT.
Spot prices are stubborn enough to warn bulls.

What's next ?

I am BULLISH.
I will drop bullish views after we clock below 5550.

When to initiate the nifty long trade ?

Looking for the intraday movement tomorrow .
Weekly charts stay bullish and it has been a tradition , fall in the first half of the week and later a pull back by the weekend.

So lets wait how things pan out tomorrow....
I feel no fear to initiate a LONG trade as soon as the charts show up Nifty pulling back........
Will keep the blog posted as soon as the trade will be initiated.


ICICI Bank : Opening ticks were impressive but before the rbi event , those were meaningless.
                      With heavy fall.......I have dropped ICICI for my LONG views. The spot prices have fell way below I was not expecting.

ICICI would be dropped now and I am keen to dig SBI ,INFY and BHARTI AIRTEL for long trade setups.

Will update the blog as soon as I have something conclusive to say.

Plan more , trade less is the pro style.

EOD 29th Oct:

EOD 29th Oct:

NIFTY : No surprise. Major Event tomorrow ,it was supposed to spend more time in same range .
              It was wise enough to not trade today and wisest if you don't initiate a trade before RBI announcement tomorrow.

Tomorrow ,any morning trade initiated , SL's will get killed both sides. Nifty either doesn't moves or moves hay way to take away stop losses before the final announcement comes.
I wont be trading before 12 PM tomorrow.

Looking at the technical s , already presented in the last post of Nifty,
I am expecting a bull run tomorrow on wards IRRESPECTIVE of what RBI comes with.

The trick is WEN TO INITIATE A TRADE.
You never know ,market falls 100 points tomorrow and smart traders fill their kitty at dearth cheap prices and in next few sessions we are holaaa above 6000.

My first target is 5850 .
SL 5550-5560              

SL will be revised as per the initiation timing of the trade. Its obvious if I buy at 5650 ,I cant put SL @ 5550........If I tend to buy near 5650 tomorrow.....30-40 point SL is max I can digest as a aggresive trader.

I am BULLISH and keenly looking when to INITIATE a long trade. The timing matters , directions later.

Will keep blog posted in market hours as I have something conclusive to say.



ICICI Bank did not give any long opportunity today.
During the first few ticks since opening , it was evident profit bookers are still active and it will be too early to initiate any Long trade. Who on earth wants to catch a falling knife.

Expected movement to kiss 13/22 EMA's prior to any major event .
 I am going ahead with No trade plan before RBI comes out with anything tomorrow,
After the event is over and market stabilizes, ICICI Bank should remain my first choice for long.

ICICI Bank : Trade SET UP

I hold a neat intention to catch ICICI bank on long side.
Just knowing the direction in which you want to trade is not enough to make money.

Its vehicle you chose to trade , its your trade initiation timing , closing timing , SL ,trail SL skills , risk managment ,and many other aspects which are never talked about.

Unlike other blogs , I will not go with distributing gyan about markets or trading , but once I set up a trade , that has to follow my rules.

I define my Rules for my Trade for minimum damage if any.

Lets dig up Icici ,

Posted a fantastic results on friday , but it dipped. I was not expecting it honestly , but the downside market force was too strong on friday to allow some profit booking on already rallied counter.

I will still go to attempt a LONG trade catching on Monday .

Expectation : Daily MACD crossover if it takes place , can mint cool money.
               2,5 min have started posting positive divergence
               30 min macd still remains the concern , its all bearish.

RSI is NOT oversold.
Volumes are present at these levels.
5EMA trades above 13EMA and 13 above 22 EMA.
Prices stay above all major moving avergaes.
Weekly chart stay bullish.

Money if cannot be made, it CAN be protected.. Its all in your mind.

STRONG EVENT such as RBI policy is there on tuesday and bank nifty will be the most expected  show stopper.
Though whipsaws can kill SL quickly , I will post the exact ENTRY point in ICICI bank during market timings.

Its advised to initiate the trade POST the event , but lets leave it for Monday and the counter spot price , upto what time frame we are trading the script.

Nifty November 2012 Expiry..

I see upside. Each day close above 5650 is strengthening the consolidation.

History will repeat...diwali season ,Market celebrates.