Beauty of Stock Markets is shining as ever.
Bears are frightened and so as the Bulls.
The charts have shaped up perfectly as the big event is next door. They are at Make or Break Levels.
Daily Candlesticks are giving a roller coaster rides for pure tech traders.
Yesterday I went ahead with Level 5630 for two reasons :
Daily 13 ema near 5625 and a daily downward channel upper end at 5628.
Weekly Charts stay bearish. Lets Concentrate on Daily Charts :
What happens in a Classic Bear Market ?
A perfect trade is to BUY stocks at deeply oversold levels and book the profit at nearest ema in play.
A bear market does not falls in a straight line , each pull back stops at the favorite ema in play and prices reverse. I use 13/22 ema for this.
Stronger the Bear Market prices choose the shorter ema to reverse.
With Nifty Daily , I am playing on HnS Pattern breakdown in play , so all bets are chosen for prices to return from 13 ema. It can be 22 ema (5674) as well but I believe we are not in a mild bear market, its a STRONG ONE.
Nifty Daily Chart :
If you ask me about the classical TA about the candlesticks which the whole street is talking about , here are my 2 words :
Wednesday candle I see it as Hammer a bullish candlestick which needed confirmation on Thursday with heavy volumes and a good white candle. Thursday candlestick did see a slight increase in volumes but definitely not heavy volumes and the candle formed on Thursday was surely not a great one.
Now I see Thursday Candlestick as Hanging Man as preceding candle was bullish.
The Hanging Man Validation needs a Gap down on Friday. Heavy volumes are also needed but that is coming by default on friday , thanks to the big event.
How to trade on Friday ?
Prices might kick off towards 5630 , Be Short Stay Short Initiate Short below 5630.
If prices sustains above 5630 by the end of the day , my all bearish views will be kicked on the butt for few sessions.
If the Black Friday is avoided today and we give a close below 5630 , don't forget to pull your socks for a BLACK MONDAY. The carnage I was expecting this week should take place NEXT WEEK.
Remember 5630 and Remember Me.
I am highly Bearish till 5630 is not cleanly bowled out.
SS
Bears are frightened and so as the Bulls.
The charts have shaped up perfectly as the big event is next door. They are at Make or Break Levels.
Daily Candlesticks are giving a roller coaster rides for pure tech traders.
Yesterday I went ahead with Level 5630 for two reasons :
Daily 13 ema near 5625 and a daily downward channel upper end at 5628.
Weekly Charts stay bearish. Lets Concentrate on Daily Charts :
What happens in a Classic Bear Market ?
A perfect trade is to BUY stocks at deeply oversold levels and book the profit at nearest ema in play.
A bear market does not falls in a straight line , each pull back stops at the favorite ema in play and prices reverse. I use 13/22 ema for this.
Stronger the Bear Market prices choose the shorter ema to reverse.
With Nifty Daily , I am playing on HnS Pattern breakdown in play , so all bets are chosen for prices to return from 13 ema. It can be 22 ema (5674) as well but I believe we are not in a mild bear market, its a STRONG ONE.
Nifty Daily Chart :
If you ask me about the classical TA about the candlesticks which the whole street is talking about , here are my 2 words :
Wednesday candle I see it as Hammer a bullish candlestick which needed confirmation on Thursday with heavy volumes and a good white candle. Thursday candlestick did see a slight increase in volumes but definitely not heavy volumes and the candle formed on Thursday was surely not a great one.
Now I see Thursday Candlestick as Hanging Man as preceding candle was bullish.
The Hanging Man Validation needs a Gap down on Friday. Heavy volumes are also needed but that is coming by default on friday , thanks to the big event.
How to trade on Friday ?
Prices might kick off towards 5630 , Be Short Stay Short Initiate Short below 5630.
If prices sustains above 5630 by the end of the day , my all bearish views will be kicked on the butt for few sessions.
If the Black Friday is avoided today and we give a close below 5630 , don't forget to pull your socks for a BLACK MONDAY. The carnage I was expecting this week should take place NEXT WEEK.
Remember 5630 and Remember Me.
I am highly Bearish till 5630 is not cleanly bowled out.
SS
dear SS your analysis about nifty id really good and if you give the same analysis regarding one or two stocks(not dailY) WEELY OR FORYNIGHTLY which are going to fall or raise heavily then your blog wil be still more useful for peopel like us who has lost lots of money
ReplyDeleteHi Noor , it is certain you are new to the blog. Welcome aboard.
ReplyDeleteI do post occasionally about stocks , you can try your luck by typing few in search box.
Honestly I post what I am trading or I am focusing to trade. Not all I do but whatever I post , I am very likely trading them.
So ,when I am trading or focusing on Nifty , there will be no posts on stocks , sometimes I am interested in both I post the same and sometimes only stocks as well. I am not in the race to get applauds for my posts/analysis , frankly and rudely , I have no interest to do welfare. I will try my best to post what I am trading. For rest you have your tv.
--SS
I will request you to learn technical analysis and read some books.
ReplyDeleteI am here , I can help you , you can help me to improve.
Its a slow process , its a frustrating process ,definitely its a interesting process , in all ways the "process" needs to be focused.
Money is a "byproduct" of knowledge.
dear ss i really dont know ur name but u said well i am here to learn and also to suggest also so that both can learn here and gain knowledge and many analyst dont like to comment on them but u r not like that.
ReplyDeletelet u and we begin the process of learing and earn the knowledge which inturn turns into money.
by the way dear SS please if u dont mind and if these stocks are in ur radar please comment on relince infra, reliance , tcs, mcdowell, reliance capital for this month
ReplyDeleteMCDowel is a BUY . rest i will post as they flash on my radar.
ReplyDeletereliance i am away since long trading them. chart patterns there are not attractive enough.