Nifty Trend Charts

Nifty longer term trend remains firmly in the bull-camp - however the shorter term hourly charts suggest negative sentiment.

Nifty EOD 

Nifty SGX Futures Hourly

The comments and posts published in this blog are NOT trading recommendations. They can not be considered as trading calls or advices. If you decide to use the information offered here for your real trading, it is at your own risk.

ACC and Ambuja Cement Trend Chart

ACC Trend Chart

Ambuja Cement Trend Chart

The comments and posts published in this blog are NOT trading recommendations. They can not be considered as trading calls or advices. If you decide to use the information offered here for your real trading, it is at your own risk.

Nifty Futures (SGX) Hourlies Chart

Nifty Futures (SGX) Hourlies Chart

The comments and posts published in this blog are NOT trading recommendations. They can not be considered as trading calls or advices. If you decide to use the information offered here for your real trading, it is at your own risk.

Nifty and NSE500 Charts

Continuing with last week's post about trend charts - I am posting a couple of slightly different charts - the algo to judge the trend is the same but these charts utilise an additional algo which compresses original price data based on the underlying volatility - so not all bars are taken (and are not visible either) - although I have taken care to include the highs and lows which may have formed on these "missing" bars - the final result is a much more compressed version of the original price data. This has limited use in end-of-day time frame (even though it changes the chart quite a bit) but is infinitely more useful in looking at intra-day price charts - especially if looking at time-frames like 1 minute charts  - where, often periods of low activity completely destroy the charts and any associated indicators.

Take a look at Nifty and NSE500 EOD charts. By the way, I think, sometimes the NSE500 is more useful in judging the overall market trend than Nifty.

Nifty Compressed Chart with Trend

NSE500 Compressed Chart with Trend

The comments and posts published in this blog are NOT trading recommendations. They can not be considered as trading calls or advices. If you decide to use the information offered here for your real trading, it is at your own risk.

Nifty and Infosys Charts

Its a bit late in the year to wish you all a happy new year - but since I haven't blogged for long - please excuse my belated wishes. I wish you all a very satisfying year - and may all your goals become a reality in this year.

There were many reasons for not posting - moving houses, moving cities, work load and last but not the least - going through a dry patch in which I was feeling a bit disconnected from Indian markets -  I wasn't sure of what directions we were going to take -  and being a trader - I need to feel sure of not just the overall direction but the timing of the moves as well - as my stops are relatively small.

Over the years - my trading has gone through a lot of changes ( as I am sure everyone's does) - starting as a purely discretionary trader and now having traversed the full spectrum and ending up as an almost  purely quantitative trader.  This came about largely as a desire to "know" more about what I was doing and to have a method/s in place which was/were consistent through the passage of time. A lot of the times - emotions play havoc with discretionary trades - with fear and greed inevitably taking over at some point, -  sure, the same factors can affect systematic trading as well - but there is less chance of that overall.

Given the nature of systematic trading - I spend a lot of the times playing around with data and statistics and charts in general and keep trying to come up with fresh ideas and perspectives to look at the markets. In the last few weeks - I have been working on a Trend Detecting Algorithm - which tries to detect the prevalent trend in the markets and also to identify places of support and resistances which can offer a good reward/risk potential for putting on a trade. Although - not a system in itself yet - I found the visual results interesting and am posting a couple of self-explanatory charts for you to look at. Do drop me a line if you like/dislike these charts.

See you soon - and hopefully much sooner this time.

Nifty Trend Chart

Infosys Trend Chart

The comments and posts published in this blog are NOT trading recommendations. They can not be considered as trading calls or advices. If you decide to use the information offered here for your real trading, it is at your own risk.

Nifty Long term Picture

Apologies for the long silence - but there wasn't much to report as I had already disclosed my long term bias in my last post and the markets took their sweet time in doing the target. The lower target for the range -5400 has been achieved - (well, almost -  as the high was 5399.7), and Nifty took resistance at that level as well -  Going forward -  if we can manage two consecutive non-inside day closes above 5405 then I would consider that as a sign of major strength - but till then it is likely to be a tussle between bulls and bears. Important levels to look out for as support are 5170, 5065 and 4935.


It is possible that 5400 would turn out to be a major high which will become difficult to take out but its too soon to say anything definitive -  my gut instinct is that we will test it again.  There are long term patterns (very long term actually) active on both the upside and downside, Therefore in the larger picture - if we see 5700ish in  Nifty then that should be an excellent selling area - and I'll write more about buying zone when we get closer to that area - as it's quite far from where we are at the moment. 


Meanwhile, be careful - these are choppy markets and there is no dearth of bull traps and bear traps in such markets. All the best.


The comments and posts published in this blog are NOT trading recommendations. They can not be considered as trading calls or advices. If you decide to use the information offered here for your real trading, it is at your own risk.

Nifty Trend

Nifty bounced back from our support region (although it did go a bit lower than that)  nicely. What can we expect going fwd?  Although my longer term target of 5400-5600 is still valid - but obviously we are not going to do that in a straight line. Also, the global markets have not been helping - there has been a huge headwind blocking the progress of equities in the last few weeks - still Nifty has managed a pretty decent return.

Here's a trend chart (uploading a chart after a long time) - which can be helpful in picking out entries and exits. We have taken resistance at the top end of the channel -  and depending on how Europe and US equities trade, we can expect support around lower areas of channel. From a strictly trend following perspective -  we are in a bearish area - however the  area near 4800 has lots of support as well - so expect a game of tug of war between buyers and sellers.

Nifty Trend Chart

The comments and posts published in this blog are NOT trading recommendations. They can not be considered as trading calls or advices. If you decide to use the information offered here for your real trading, it is at your own risk.

NIFTY NEAR BIG SUPPORT

NIFTY has a big support near 4790 - with potential to jump back to 5400 - 5600 area.

All the best for your trading.






The comments and posts published in this blog are NOT trading recommendations. They can not be considered as trading calls or advices. If you decide to use the information offered here for your real trading, it is at your own risk.

Today's Chart - Hindalco

HINDALCO Support Resistance FibonacciPlus Charts

HINDALCO Momentum Chart

HINDALCO Resistance + Levels Chart

HINDALCO Support + Levels Chart

An explanation of FibonacciPlus Charts is given here and here in previous posts.





The comments and posts published in this blog are NOT trading recommendations. They can not be considered as trading calls or advices. If you decide to use the information offered here for your real trading, it is at your own risk.

Today's Chart - Hero Honda

Hero Honda Support Resistance FibonacciPlus Charts

Hero Honda Momentum Chart

Hero Honda Resistance + Levels Chart

Hero Honda Support + Levels Chart

An explanation of FibonacciPlus Charts is given here and here in previous posts.





The comments and posts published in this blog are NOT trading recommendations. They can not be considered as trading calls or advices. If you decide to use the information offered here for your real trading, it is at your own risk.