Friday, November 30, 2012

The Evil of Plenty and other fables

पोथी पढ़ पढ़ जग मुआ, पंडित भया न कोए |
ढाई अक्षर ट्रेंड का, पढ़े सो पंडित होए ||


"People read many many books in their lives, but none becomes any wiser
One who understands the little word, "trend", only becomes wisest"

I have stopped reading all blogs forums lately. Not because of any fancy reason, but simply because all of them denounce technical analysis, as anything worthwhile. Although publicly, even I would maintain the same, but since this is a private blog I could admit the truth here.

Yes it's true to a great extent, that I have an inexhaustible supply of wits, but sometimes I grow restless and bored, and that is when I want to confess nothing but the wits.

I may blog about 1001 different techniques and trading system, but the truth is that one doesn't require an ample supply of divergent ideas to trade. One could yield to the habit of driving forward, the temptation of wearing clean clothes and still make money trading.

Also the esoteric secret of success in trading, is to buy high and sell higher, and vice-versa. But I feel that general public should not come to know about this, so I wouldn't talk about it publicly ever. Promise.

Also I feel, that SEBI should ban the word "Trend", never to be used in a public place, electronic media, internet or a public blog. Detecting trend is tantamount to insider trading. It should be banned in all forms. Also, computer programs that could draw straight lines over a picture, like Windows Paint, should be declared illegal, and people using them to identify trends should be booked under MRTP Act Sec 36A sub-section 5, which reads as, "permits the hoarding or destruction of goods, or refuses to sell the goods or to make them available for sale, or to provide any service, if such hoarding or destruction or refusal raises or tends to raise or is intended to raise, the cost of those or other similar goods or services." Serious Crime, huh,

I guess Vision Books India should also be booked under the same act for distributing information as to how to grow rich even without thinking! Poor Napoleon Hill, had he known about trading, he might have foregone the idea of writing books, or might have written, the unwritten classic, "Idle and Grow Rich"

This is indeed Callyug, the black era according to Indian Traditions. Failed traders give trading calls to new unsuspecting traders, who can't seem to think straight, leave alone draw straight lines.

Trading is not for intelligent types, the kind who have advanced degrees, and high profile jobs, beautiful fair skinned women as their wives and friends wives and co-office workers, as they would spend their lifetimes, searching for secret complex algorithm and in turn loose all their wealth and their savings.

It is for those, who wake up, late in the morning, have poor power supplies in their towns, have Sempron based systems, use Samsung Guru for a cellphone, and don't understand maths or science much. Could I be the one? I'd try!

Daily Update: Short Term View

  • Price
    • Price Action

      On Thu 29 Nov 2012, the S&P CNX NIfty Index opened at 5736.7 ( 78 Points Higher than Previous Opening Price ) , made a high of 5833.5 ( 100 Points Higher than Previous High ) it made a low of 5736.1 ( 78 Points Higher than Previous Low ) closed at 5825 ( 97 Points Higher than Previous Close ). The Volumes were 207,295,475 ( 54% Higher than last trading session, and about 74.8% Higher than Average. The Volume figures were about 286.01% of Standard Deviation Above the Mean, and it was an outlier figure. Nifty closed in the Q3, the Third Quartile of it's True Range. The Color of the candle was White with the upper shadow was equal to 8.5 Points, and the body was equal to 97.4 and lower shadow was equal to 0.6.
    • Moving Averages and Pivot Points

      The Short Term Moving Average is at, 5710 medium term average is 5670 and the long term average is at 5330. The Market Structure is Technically Speaking, BULLISH. Supports are placed at 5618, 5609, 5600, 5574, 5562, 5553, 5532, 5494, 5458. While Resistances are placed at , 5635, 5644, 5653, 5679, 5691, 5700, 5722, 5760, 5796.
    • Volatility

      The daily VIX closed at 15.37, while previous close was 13.96, a change of 10.1% Higher than previous close. ATR was 65. To overgeneralize, low volatility is generally observed to occur at Market tops, and perhaps during range bound movement and vice versa.
    • Market Breadth

      As on Thu 29 Nov 2012, the Market Breadth was 1.4, which is considered as Good , while at the end of the last trading session it was 1.96. The McClellan Oscillator reading was 26.22, which is considered as Normal.
  • Volume and Open Interest
    • Volumes

      On Thursday 29 Nov 2012 Volumes were Above Average. For the next full trading session the Volumes are expected to be Above Average - somewhere around 115,100,000. The MFI reading was 48.6 while previously it was 45.9. Delivered Quantity to Traded Quantity was 50.5 while at the end of previous trading session it was 50.79 , on BSE. While on NSE the DQTQ was 28.22% while previously it was 25.61% .
    • Futures

      The Open Interest in Futures at the End of the Day Thursday 29 Nov 2012 was 25,841,450 while previously it was 20,629,450 a change of 25.26% The Cost of Carry of the Series Expiring on 29-Nov-2012 was 0.00% while previously it was 14.65% while the change in Open Interest was -23.04% The Cost of Carry of the Series Expiring on 27-Dec-2012 was 9.89% while previously it was 8.86% while the change in Open Interest was 67.72%.
    • Options

      The Open Interest in Options at the End of the Day Thursday 29 Nov 2012 was 157,084,450 while previously it was 147,396,650 a change of 6.57% . The Highest Open Interest is in 5700 Strike Calls, quite surprisingly though. The largest change in Open Interest figures was noticed in 5700 Strike Calls. As for Index Put Options the Highest Open Interest is in 5600 Strike Puts. The largest change was noticed in 5900 Strike Index Put Options. PCR fell to 0.94 from 1.04.
  • Time
    • Position of Celestial Entities on Tuesday
      Positions of Nodes, Satellites, Planets etc.,
      *RashiDegLordNakshatraPadaNaksh LordPada LordStatus
      AscSagittarius251JupMula4KetMer
      SunScorpio224MarAnuradha4SatRah
      MonGemini60MerMrigasira3MarMer
      MarSagittarius255JupP.Asadha1VenSun
      MerLibra204VenVishakha2JupMer
      Jup(R)Taurus47VenRohini3MonSat
      VenLibra195VenSwati3RahVen
      SatLibra192VenSwati2RahSatExl
      Rah(R)Scorpio212MarVishakha4JupRah
      Ket(R)Taurus32VenKrittika2SunJup
      Ura(R)Pisces340JupU.Bhadrapada3SatSun
      NepAquarius306SatDhanistha4MarMon
      PluSagittarius254JupP.Asadha1VenVen
    • Aspects and Transits
      PlanetAspectPlanetOrbValue
      SunOppositionJupiter3.19-132
      SunTrineUranus3.470
      MoonTrineNeptune5.2354
      MoonTrineMidheaven1.0378
      MercuryConjunctionVenus8.5943
      VenusSextileMars0.06230
      VenusConjunctionSaturn3.31200
      VenusSextilePluto1.4264
      VenusSextileAscendant2.4730
      MarsSextileSaturn3.2538
      MarsSquareUranus5.15-15
      MarsConjunctionPluto1.35306
      MarsConjunctionAscendant2.53222
      SaturnTrineNeptune6.0322
      SaturnSextilePluto1.554
      UranusSquarePluto3.4-16
      NeptuneTrineMidheaven6.266
      PlutoConjunctionAscendant4.2922
  • Intermarket Analysis
    • USDINR Pair

      The US Dollar Lost against the INR by about -0.5025 (based on RBI Reference Rate). Change in Open Interest at the End Of the Day was 0% and the Actual Open Interest at End Of the Day was 2,487,744. The Daily Parabolic SAR is 55.1863. USDINR pair has finished an irregular top, or as "Bobby the Smug" would call it Expanded Flat. It seems to be doing the 4th of the C (I haven't discerned the degrees so far, so if someone amongst you has it, please mail me). Probably it would finish it's corrective below 50 level.
    • International Indices
      Dow Jones is just trying to hang up above 13000. The level of 13165 is the next hurdle for it. DAX also moved up smartly, and closed around 7400, with a positive bias. It seems to be doing a flat B of Intermediate Degree. Nikkei is trying to consolidate above it's long standing 9200 resistance level, and is currently trading with a positive bias. Nikkei was trading sideways for a very long time between 8500 and 9200. And it is still dilly-dallying with 9400 levels..
  • Institutional And Commercials Activity

    • FII
      As on Thursday, 29-Nov-2012, under the Cash Segment FIIs were net Buyers for Rs 1579.97 Crores. While yesterday they were net Buyers for Rs 1082.74 Crores. And in the Current Series they are net Buyers for Rs 6231.54 Crores, and from 1st Jan 2012 till date they are Net Buyers for Rs 87,858 Crores.
    • DII
      As on Thursday, 29-Nov-2012, under the Cash Segment DIIs were net Sellers for Rs -896.22 Crores. While yesterday they were net Sellers for Rs -208.51 Crores. And in the Current Series they are net Sellers for Rs -4668.98 Crores, and from 1st Jan 2012 till date they are Net Sellers for Rs -46,454 Crores
  • Outlook
    • Trend and Bias
      S&P CNX Nifty Index has made an attempt to break out of it's apparent sideways range of 5530 and 5780. Today being Friday and the last day of the week as well as the last trading day of the Month November, if Nifty closes above 5810, then it should be construed that, Nifty from an Investors Point of View, has become ripe to be bought on every dip. Same thing was observed in Monthly charts a couple of Months back. Although, major and minor corrections would happen along the way, but that shouldn't deter someone having a long term view.

      ***"Within impulses, fourth waves frequently sport flats, while second waves rarely do." According to Elliott Wave theory, Nifty is in (5th Minuette Wave) of the [C Minute Wave] of the {2nd Minor Wave (Zig Zag)} of (C Intermediate Wave) of the [4th Primary Wave (Flat)] of {1st Cycle Wave} of (1st Super Cycle Wave) of [1st Grand Super Cycle Wave].

      Please read the Disclaimer here. Thank You.

Wednesday, November 28, 2012

Daily Update: Short Term Outlook

Daily Update was delayed due to new insights. Published at 9:42 am Thursday Morning.
  • Price
    • Price Action

      On Tue 27 Nov 2012, the S&P CNX NIfty Index opened at 5658.5 ( 9 Points Higher than Previous Opening Price ) , made a high of 5733.2 ( 84 Points Higher than Previous High ) it made a low of 5658 ( 34 Points Higher than Previous Low ) closed at 5727.45 ( 91 Points Higher than Previous Close ). The Volumes were 134,407,735 ( 70% Higher than last trading session, and about 19.2% Higher than Average. The Volume figures were about 85.3% of Standard Deviation Above the Mean, and it was not an outlier figure. Nifty closed in the Q3, the Third Quartile of it's True Range. The Color of the candle was White with the upper shadow was equal to 5.75 Points, and the body was equal to 75.2 and lower shadow was equal to 0.5.
    • Moving Averages and Pivot Points

      The Short Term Moving Average is at, 5650 medium term average is 5660 and the long term average is at 5330. The Market Structure is Technically Speaking, SIDEWAYS. Supports are placed at 5618, 5609, 5600, 5574, 5562, 5553, 5532, 5494, 5458. While Resistances are placed at , 5635, 5644, 5653, 5679, 5691, 5700, 5722, 5760, 5796.
    • Volatility

      The daily VIX closed at 13.96, while previous close was 14.67, a change of -4.84% Lower than previous close. ATR was 62. To overgeneralize, low volatility is generally observed to occur at Market tops, and perhaps during range bound movement and vice versa.
    • Market Breadth

      As on Tue 27 Nov 2012, the Market Breadth was 1.96, which is considered as Good , while at the end of the last trading session it was 1.4. The McClellan Oscillator reading was 11.14, which is considered as Normal.
  • Volume and Open Interest
    • Volumes

      On Tuesday 27 Nov 2012 Volumes were Above Average. For the next full trading session the Volumes are expected to be Below Average - somewhere around 98,600,000. The MFI reading was 45.9 while previously it was 45.1. Delivered Quantity to Traded Quantity was 50.79 while at the end of previous trading session it was 49.44 , on BSE. While on NSE the DQTQ was 25.61% while previously it was 26.46% .
    • Futures

      The Open Interest in Futures at the End of the Day Tuesday 27 Nov 2012 was 20,629,450 while previously it was 17,174,550 a change of 20.12% The Cost of Carry of the Series Expiring on 29-Nov-2012 was 14.65% while previously it was 14.78% while the change in Open Interest was -18.47% The Cost of Carry of the Series Expiring on 27-Dec-2012 was 8.86% while previously it was 8.75% while the change in Open Interest was 105.84%.
    • Options

      The Open Interest in Options at the End of the Day Tuesday 27 Nov 2012 was 147,396,650 while previously it was 144,408,300 a change of 2.07% . The Highest Open Interest is in 5800 Strike Calls and this might define the upper cap for the November expiry range. The largest change in Open Interest figures was noticed in 5800 Strike Calls. As for Index Put Options the Highest Open Interest is in 5600 Strike Puts. The largest change was noticed in 5600 Strike Index Put Options. PCR rose to 1.04 from 0.97.
  • Time
    • Position of Celestial Entities on Tuesday
      Positions of Nodes, Satellites, Planets etc.,
      *RashiDegLordNakshatraPadaNaksh LordPada LordStatus
      AscSagittarius250JupMula4KetSat
      SunScorpio223MarAnuradha3SatRah
      MonTaurus48VenRohini3MonMerExl
      MarSagittarius255JupP.Asadha1VenVen
      MerLibra204VenVishakha2JupMer
      Jup(R)Taurus47VenRohini3MonMer
      VenLibra194VenSwati3RahKet
      SatLibra192VenSwati2RahSatExl
      Rah(R)Scorpio212MarVishakha4JupRah
      Ket(R)Taurus32VenKrittika2SunJup
      Ura(R)Pisces340JupU.Bhadrapada3SatSun
      NepAquarius306SatDhanistha4MarMon
      PluSagittarius254JupP.Asadha1VenVen
    • Aspects and Transits
      PlanetAspectPlanetOrbValue
      SunOppositionMoon5.56-130
      SunOppositionJupiter4.28-106
      SunTrineUranus2.3887
      MoonConjunctionJupiter1.28335
      MercuryConjunctionVenus9.479
      VenusSextileMars0.22215
      VenusConjunctionSaturn2.23234
      VenusSextilePluto0.2998
      VenusSextileAscendant3.0523
      MarsSextileSaturn2.4681
      MarsSquareUranus4.29-30
      MarsConjunctionPluto0.51333
      MarsConjunctionAscendant2.43227
      SaturnTrineNeptune5.5723
      SaturnSextilePluto1.5452
      UranusSquarePluto3.37-16
      NeptuneTrineMidheaven7.282
      PlutoConjunctionAscendant3.3426
  • Intermarket Analysis
    • USDINR Pair

      The US Dollar Gained against the INR by about 0.0125 (based on RBI Reference Rate). Change in Open Interest at the End Of the Day was 15% and the Actual Open Interest at End Of the Day was 3,296,177. The Daily Parabolic SAR is 55.1618. USDINR pair has finished an irregular top, or as "Bobby the Smug" would call it Expanded Flat. It seems to be doing the 4th of the C (I haven't discerned the degrees so far, so if someone amongst you has it, please mail me). Probably it would finish it's corrective below 50 level.
    • International Indices
      Dow Jones made a valiant effort by recoverng from lows and closed around 13000 levels. The level of 13165 is the next hurdle for it. DAX also moved up smartly, and closed above 7300, with a positive bias. It seems to be doing a flat B of Intermediate Degree. Nikkei has opened gap up above it's long standing 9200 resistance level, and is currently trading with a positive bias. Nikkei is also trading sideways for a very long time between 8500 and 9200. And it is still dilly-dallying with 9400 levels..
    • -->
  • Institutional And Commercials Activity

    • FII
      As on Tuesday, 27-Nov-2012, under the Cash Segment FIIs were net Buyers for Rs 1082.74 Crores. While yesterday they were net Buyers for Rs 163.14 Crores. And in the Current Series they are net Buyers for Rs 4651.57 Crores, and from 1st Jan 2012 till date they are Net Buyers for Rs 86,278 Crores
    • DII
      As on Tuesday, 27-Nov-2012, under the Cash Segment DIIs were net Sellers for Rs -208.51 Crores. While yesterday they were net Sellers for Rs -195.66 Crores. And in the Current Series they are net Sellers for Rs -3772.76 Crores, and from 1st Jan 2012 till date they are Net Sellers for Rs -45,558 Crores
  • Outlook
    • Trend and Bias
      Apparently, Nifty is moving Sideways between 5530 and 5780 as of now. A break on either side, especially a touch of Weekly Overbought (5810) or Weekly Oversold (5460) levels would signify the next move. In the Current Week there is a special significance of 5685, as long as Nifty is trading below 5685, it could suddenly fall down towards the lower levels of it's swing range, and vice versa.

      Nifty has opened gapped up, the second gap in a row. Nifty has a strong resistance in the region of 5825 -5850. And supports are in the region of 5735. The expected range is 5720 to 5797. The Open Interest in Futures is still very low. It might indicate lack of any trend triggering news. Even now ... the large Financial Institutions are disinterested in any directional trading at the moment.

      ***"Within impulses, fourth waves frequently sport flats, while second waves rarely do." According to Elliott Wave theory,Nifty is in [C Minute Wave] of the {2nd Minor Wave (Zig Zag)} of (C Intermediate Wave) of the [4th Primary Wave (Flat)] of {1st Cycle Wave} of (1st Super Cycle Wave) of [1st Grand Super Cycle Wave].

      Please read the Disclaimer here. Thank You.

Tuesday, November 27, 2012

Daily Update: Short Term Outlook

  • Price
    • Price Action

      On Mon 26 Nov 2012, the S&P CNX NIfty Index opened at 5648.65 ( 13 Points Higher than Previous Opening Price ) , made a high of 5649.2 ( 11 Points Higher than Previous High ) it made a low of 5623.45 ( 29 Points Higher than Previous Low ) closed at 5635.9 ( 9 Points Higher than Previous Close ). The Volumes were 79,291,426 ( -7% Lower than last trading session, and about -28.8% Lower than Average. The Volume figures were about -126.54% of Standard Deviation Below the Mean, and it was not an outlier figure. Nifty closed in the Q2, the Second Quartile of it's True Range. The Color of the candle was Black with the upper shadow was equal to 0.55 Points, and the body was equal to 25.75 and lower shadow was equal to 12.45 There was No Clear Consensus as to the direction of the trading.
    • Moving Averages and Pivot Points

      The Short Term Moving Average is at, 5620 medium term average is 5650 and the long term average is at 5320. The Market Structure is Technically Speaking, SIDEWAYS. Supports are placed at 5618, 5609, 5600, 5574, 5562, 5553, 5532, 5494, 5458. While Resistances are placed at , 5635, 5644, 5653, 5679, 5691, 5700, 5722, 5760, 5796.
    • Volatility

      The daily VIX closed at 14.67, while previous close was 14.68, a change of -0.07% Lower than previous close. ATR was 59. ATR was keeping above 60, because of lower circuit on Friday, 5th of October 2012. To overgeneralize, low volatility is generally observed to occur at Market tops, and perhaps during range bound movement and vice versa.
    • Market Breadth

      As on Mon 26 Nov 2012, the Market Breadth was 1.4, which is considered as Good , while at the end of the last trading session it was 0.77. The McClellan Oscillator reading was -20.41, which is considered as Normal.
  • Volume and Open Interest
    • Volumes

      On Monday 26 Nov 2012 Volumes were Below Average. For the next full trading session the Volumes are expected to be Below Average - somewhere around 91,900,000. The MFI reading was 45.1 while previously it was 45. While poor CMF is going back to hibernation after dilly-dallying with 0 line at +0.11. Delivered Quantity to Traded Quantity was 49.44 while at the end of previous trading session it was 46.34, on BSE. While on NSE the DQTQ was 26.46% while previously it was 26.03%.

    • Futures

      The Open Interest in Futures at the End of the Day Monday 26 Nov 2012 was 17,174,550 while previously it was 16,577,000 a change of 3.6% The Cost of Carry of the Series Expiring on 29-Nov-2012 was 14.78% while previously it was 7.29% while the change in Open Interest was -9.86% The Cost of Carry of the Series Expiring on 27-Dec-2012 was 8.75% while previously it was 7.55% while the change in Open Interest was 54.45%.
    • Options

      The Open Interest in Options at the End of the Day Monday 26 Nov 2012 was 144,408,300 while previously it was 142,678,400 a change of 1.21%. The Highest Open Interest is in 5700 Strike Calls and this might define the upper cap for the November expiry range. The largest change in Open Interest figures was noticed in 5500 Strike Calls. As for Index Put Options the Highest Open Interest is in 5500 Strike Puts. The largest change was noticed in 5600 Strike Index Put Options. PCR rose to 0.97 from 0.95.
  • Time
    • Position of Celestial Entities on Tuesday
      Positions of Nodes, Satellites, Planets etc.,
      *RashiDegLordNakshatraPadaNaksh LordPada LordStatus
      AscSagittarius248JupMula3KetJup
      SunScorpio220MarAnuradha3SatVen
      MonAries13MarBharani1VenVen
      MarSagittarius252JupMula4KetMer
      Mer(R)Libra204VenVishakha2JupMer
      Jup(R)Taurus48VenRohini3MonMer
      VenLibra191VenSwati2RahSat
      SatLibra192VenSwati2RahSatExl
      Rah(R)Scorpio212MarVishakha4JupRah
      Ket(R)Taurus32VenKrittika2SunJup
      Ura(R)Pisces340JupU.Bhadrapada3SatSun
      NepAquarius306SatDhanistha4MarMon
      PluSagittarius254JupP.Asadha1VenVen
    • Aspects and Transits
      PlanetAspectPlanetOrbValue
      SunOppositionJupiter7.55-25
      SunTrineUranus0.26123
      SunSquareNeptune3.52-64
      MoonOppositionVenus2.41-204
      MoonTrineMars0.54225
      MoonOppositionSaturn1.41-274
      MoonTrinePluto0.27123
      MoonTrineAscendant1.1898
      VenusSextileMars1.48131
      VenusConjunctionSaturn0.6277
      VenusTrineNeptune4.3940
      VenusSextilePluto3.0824
      VenusSextileAscendant3.590
      MarsSextileSaturn0.48208
      MarsSquareUranus2.09-75
      MarsConjunctionPluto1.21315
      MarsConjunctionAscendant2.11244
      JupiterTrineMidheaven7.382
      SaturnTrineNeptune5.3926
      SaturnSextilePluto2.0846
      SaturnSextileAscendant2.5920
      UranusSquarePluto3.29-17
      UranusSquareAscendant4.2-8
      PlutoConjunctionAscendant0.5137
  • Intermarket Analysis
    • USDINR Pair

      The US Dollar Gained against the INR by about 0.3475 (based on RBI Reference Rate). Change in Open Interest at the End Of the Day was 0% and the Actual Open Interest at End Of the Day was 2,865,533. The Daily Parabolic SAR is 55.0374. USDINR pair has finished an irregular top, or as "Bobby the Smug" would call it Expanded Flat. It seems to be doing the 4th of the C (I haven't discerned the degrees so far, so if someone amongst you has it, please mail me). Probably it would finish it's corrective below 50 level.
  • Institutional And Commercials Activity

    • FII
      As on Monday, 26-Nov-2012, under the Cash Segment FIIs were net Buyers for Rs 163.14 Crores. While yesterday they were net Buyers for Rs 366.37 Crores. And in the Current Series they are net Buyers for Rs 3568.83 Crores, and from 1st Jan 2012 till date they are Net Buyers for Rs 85,195 Crores.
    • DII
      As on Monday, 26-Nov-2012, under the Cash Segment DIIs were net Sellers for Rs -195.66 Crores. While yesterday they were net Sellers for Rs -184.27 Crores. And in the Current Series they are net Sellers for Rs -3564.25 Crores, and from 1st Jan 2012 till date they are Net Sellers for Rs -45,349 Crores .
  • Outlook
    • Trend and Bias
      Apparently, Nifty is moving Sideways between 5530 and 5780 as of now. A break on either side, especially a touch of Weekly Overbought (5810) or Weekly Oversold (5460) levels would signify the next move. In the Current Week there is a special significance of 5685, as long as Nifty is trading below 5685, it could suddenly fall down towards the lower levels of it's swing range.

      Nifty could open flat to Negative on Tuesday, possibly around 5635. Nifty has a strong resistance in the region of 5685. And supports are in the region of 5592. The expected range is 5623 to 5660. The Open Interest in Futures is very very low. It might indicate lack of any trend triggering news. The large Financial Institutions are disinterested in any directional trading at the moment.

      ***"Within impulses, fourth waves frequently sport flats, while second waves rarely do." According to Elliott Wave theory,Nifty is in [C Minute Wave] of the {2nd Minor Wave (Zig Zag)} of (C Intermediate Wave) of the [4th Primary Wave (Flat)] of {1st Cycle Wave} of (1st Super Cycle Wave) of [1st Grand Super Cycle Wave].

      Please read the Disclaimer here. Thank You.

Saturday, November 24, 2012

The Future is Golden Bright


Weekly Update: Medium Term Outlook


  • Price Action
    • Open, High, Low and Close
      S&P CNX Nifty opened this week at 5577.3 (5688.45) made a lower high of 5643.3 (5718.9) , and made a lower low of 5548.35 (5559.8). It closed at 5626.6 (5574.05) for the week. Adjusted Volumes were about 28% lower than average. It was sort of a spinning top.
  • Pivots, Moving Averages, Supports and Resistances
    • Extended Camarilla Pivots
      Supports are placed at 5618, 5609, 5600, 5574, 5562, 5553, 5532, 5494, 5458. While Resistances are placed at , 5635, 5644, 5653, 5679, 5691, 5700, 5722, 5760, 5796.
    • Moving Averages and Market Structure
      The Short term Moving Average is 5637; the Intermediate term moving average is 5270; and the long term moving average is 5080. The Structure of Overall Market in Medium Term is technically BULLISH .
    • Supports And Resistances
      Nifty would be range-bound if it trades between 5530 and 5750. The Overbought level is 5810 and Oversold level is 5460.
  • Trend and Momentum
    • Slope of Trend-line and Trend Strength
      The uptrend in the levels of S&P CNX Nifty is trying to maintain a slope of 45° for it's trend-line, as seen in stockcharts.com's non log charts. Another important point to be noted is that this trend line should be considered as breached below 5592. Accordingly if 5592 is breached again this week, this should be understood as trend line failure, and a confirmation that weakness is here to stay. Last week this number was 5575, and Nifty had opened about that point on last Monday. The ADX reading for the week is 17.82, coming off from all time low of 9.48 registered for the week ending 7th Sept 2012.
    • Momentum Indicators and Oscillators
      The RSI(14) is at 58.8 spending time under the Resistance zone of 70. Remember it hasn't crossed over to 70 level since Dec 2010. The W%R 29 is at -18.06. MACD is kissing it's signal line. All in all the momentum indicators are indicating sideways movement as of now and possibly some weakness.
  • Volumes, Market Breadth,Turnover, Volatility and Open Interest
    • Aggregate Volumes and Averages
      The Volumes for this week were about 28% lower than average. Volumes are exhibiting a distinct downtrend, implying that the market participation is gradually, but steadily shrinking. And these are the lowest levels in last 4 or 5 years or may be longer.
    • Volume Indicators and Oscillators
      The OBV hasn't surpassed it's previous swing high and MFI is coming off from 80+ levels, giving a secondary trigger to short. The CMF is now suggesting distribution at current levels.
    • Market Breadth
      Market Breadth was best in last 3 weeks at 1.42 as compared with 0.77 last week. On the back of below average volumes, average market breadth, and Nifty breaching the low that was formed for last several weeks, signals onset of weakness. The range expansion was registered on the lower side - although there was no significant volume activity, and volumes continue to decline.
    • Volatility, VIX and ATR
      The True Range was 95 points. Compare this reading with the readings in 2009 when we used to have a TR of 250 - 300 points. While ATR(14) is at 173 points. VIX closed at 14.68 down 9.5% from last week.
    • Derivatives, Open Interest, and PCR ratio
      The Average Volumes in Derivatives were up by 21% as of that previous week. The OI is lowest since 1 Jun 2012 and second lowest in last three years. The PCR readings, have maintained a low profile, probably no smart investor wants to write puts in a C wave, with a ridiculously low level of 0.95 as compared to last weeks 0.92 This could indicate that Smart Money doesn't want to take a chance with writing puts. History repeats itself, although each time it leaves behind a scar.
  • Inferences and Outlook
    • Apparently, Nifty is moving Sideways between 5530 and 5780 as of now. A break on either side, especially a touch of Overbought (5810) or Oversold (5460) levels would signify the next move. In the Current Week there is a special significance of 5685. A Weekly close below that level could also signify further weakness. Moreover it has been noticed that the 5th waves occurring in Minor and lesser degrees happen on falling volumes, with a one or two odd instances which do not conform to this notion. Moreover it seems that Nifty is in it's intermediate Degree C Elliott Wave....

      Nifty seems to be in [5th Minute Wave] of the {2nd Minor Wave} of (C Intermediate Wave) of the [4th Primary Wave (Flat)] of {1st Cycle Wave} of (1st Super Cycle Wave) of [1st Grand Super Cycle Wave].


Daily Update: Short Term Outlook

  • Price
    • Price Action

      On Fri 23 Nov 2012, the S&P CNX NIfty Index opened at 5635.45 ( 6 Points Higher than Previous Opening Price ) , made a high of 5637.75 ( -6 Points Lower than Previous High ) it made a low of 5593.55 ( -15 Points Lower than Previous Low ) closed at 5626.6 ( -2 Points Lower than Previous Close ). The Volumes were 85,082,220 ( -10% Lower than last trading session, and about -25% Lower than Average. The Volume figures were about -109.68% of Standard Deviation Below the Mean, and it was not an outlier figure. Nifty closed in the Q2, the Second Quartile of it's True Range. The Color of the candle was Black with the upper shadow was equal to 2.3 Points, and the body was equal to 44.2 and lower shadow was equal to 33.05 There was No Clear Consensus as to the direction of trading, however there was some short covering towards the end.
    • Moving Averages and Pivot Points

      The Short Term Moving Average is at, 5610 medium term average is 5650 and the long term average is at 5320. The Market Structure is Technically Speaking, SIDEWAYS. Supports are placed at 5618, 5609, 5600, 5574, 5562, 5553, 5532, 5494, 5458. While Resistances are placed at , 5635, 5644, 5653, 5679, 5691, 5700, 5722, 5760, 5796.
    • Volatility

      The daily VIX closed at 14.68, while previous close was 14.91, a change of -1.54% Lower than previous close. ATR was 62. ATR is keeping above 60, because of lower circuit on Friday, 5th of October 2012. To overgeneralize, low volatility is generally observed to occur at Market tops, and perhaps during range bound movement and vice versa.
    • Market Breadth

      As on Fri 23 Nov 2012, the Market Breadth was 0.77, which is considered as Average , while at the end of the last trading session it was 1.12. The McClellan Oscillator reading was -42.99, which is considered as Normal.
  • Volume and Open Interest
    • Volumes

      On Friday 23 Nov 2012 Volumes were Below Average. For the next full trading session the Volumes are expected to be Below Average - somewhere around 92,800,000. The MFI reading was 45 while previously it was 51.9. While poor CMF is going back to hibernation after dilly-dallying with 0 line at +0.13. Delivered Quantity to Traded Quantity was 46.34 while at the end of previous trading session it was 50.35, on BSE. While on NSE the DQTQ was 26.03%.

    • Futures

      The Open Interest in Futures at the End of the Day Friday 23 Nov 2012 was 16,577,000 while previously it was 16,719,400 a change of -0.85% The Cost of Carry of the Series Expiring on 29-Nov-2012 was 7.29% while previously it was 11.75% while the change in Open Interest was -4.82% The Cost of Carry of the Series Expiring on 27-Dec-2012 was 7.55% while previously it was 7.98% while the change in Open Interest was 17.07%.
    • Options

      The Open Interest in Options at the End of the Day Friday 23 Nov 2012 was 142,678,400 while previously it was 142,740,900 a change of -0.04%. The Highest Open Interest is in 5700 Strike Calls and this might define the upper cap for the November expiry range. The largest change in Open Interest figures was noticed in 5700 Strike Calls. As for Index Put Options the Highest Open Interest is in 5500 Strike Puts. The largest change was noticed in 5400 Strike Index Put Options. PCR remain unchanged at 0.95 from 0.95.
  • Time
    • Position of Celestial Entities on Tuesday
      Positions of Nodes, Satellites, Planets etc.,
      *RashiDegLordNakshatraPadaNaksh LordPada LordStatus
      AscSagittarius248JupMula3KetJup
      SunScorpio220MarAnuradha3SatVen
      MonAries13MarBharani1VenVen
      MarSagittarius252JupMula4KetMer
      Mer(R)Libra204VenVishakha2JupMer
      Jup(R)Taurus48VenRohini3MonMer
      VenLibra191VenSwati2RahSat
      SatLibra192VenSwati2RahSatExl
      Rah(R)Scorpio212MarVishakha4JupRah
      Ket(R)Taurus32VenKrittika2SunJup
      Ura(R)Pisces340JupU.Bhadrapada3SatSun
      NepAquarius306SatDhanistha4MarMon
      PluSagittarius254JupP.Asadha1VenVen
    • Aspects and Transits
      PlanetAspectPlanetOrbValue
      SunOppositionJupiter7.55-25
      SunTrineUranus0.26123
      SunSquareNeptune3.52-64
      MoonOppositionVenus2.41-204
      MoonTrineMars0.54225
      MoonOppositionSaturn1.41-274
      MoonTrinePluto0.27123
      MoonTrineAscendant1.1898
      VenusSextileMars1.48131
      VenusConjunctionSaturn0.6277
      VenusTrineNeptune4.3940
      VenusSextilePluto3.0824
      VenusSextileAscendant3.590
      MarsSextileSaturn0.48208
      MarsSquareUranus2.09-75
      MarsConjunctionPluto1.21315
      MarsConjunctionAscendant2.11244
      JupiterTrineMidheaven7.382
      SaturnTrineNeptune5.3926
      SaturnSextilePluto2.0846
      SaturnSextileAscendant2.5920
      UranusSquarePluto3.29-17
      UranusSquareAscendant4.2-8
      PlutoConjunctionAscendant0.5137
  • Intermarket Analysis
    • USDINR Pair

      The US Dollar Gained against the INR by about 0.187 (based on RBI Reference Rate). Change in Open Interest at the End Of the Day was 5.5% and the Actual Open Interest at End Of the Day was 2,866,889. The Daily Parabolic SAR is 54.924. USDINR pair has finished an irregular top, or as "Bobby the Smug" would call it Expanded Flat. It seems to be doing the 4th of the C (I haven't discerned the degrees so far, so if someone amongst you has it, please mail me). Probably it would finish it's corrective below 50 level.
    • International Indices

      Dow Jones made a valiant effort and closed above 13000 levels. The level of 13165 is the next hurdle for it. DAX also moved up smartly, and closed above 7300, with a positive bias. It seems to be doing a flat B of Intermediate Degree. Nikkei is also trading sideways for a very long time between 8500 and 9200. But on Friday it seemed that it might break out of this range and a close above 9400 would bring alive the dreams of blue sky.
  • Institutional And Commercials Activity

    • FII
      As on Friday, 23-Nov-2012, under the Cash Segment FIIs were net Buyers for Rs 366.37 Crores. While yesterday they were net Buyers for Rs 114.76 Crores. And in the Current Series they are net Buyers for Rs 3405.69 Crores, and from 1st Jan 2012 till date they are Net Buyers for Rs 85,032 Crores .
    • DII
      As on Friday, 23-Nov-2012, under the Cash Segment DIIs were net Sellers for Rs -184.27 Crores. While yesterday they were net Sellers for Rs -164 Crores. And in the Current Series they are net Sellers for Rs -3368.59 Crores, and from 1st Jan 2012 till date they are Net Sellers for Rs -45,154 Crores.
  • Outlook
    • Trend and Bias
      Apparently, Nifty is moving Sideways between 5530 and 5780 as of now. A break on either side, especially a touch of Weekly Overbought (5810) or Weekly Oversold (5460) levels would signify the next move. In the Current Week there is a special significance of 5685, as long as Nifty is trading below 5685, it could suddenly fall down towards the lower levels of it's swing range.

      Nifty could open flat to positive on Monday, possibly around 5635. Nifty has a strong resistance in the region of 5685. And supports are in the region of 5592. The expected range is 5590 to 5650. The Open Interest in Futures is very very low. It might indicate lack of any trend triggering news. The large Financial Institutions are disinterested in any directional trading at the moment.

      ***"Within impulses, fourth waves frequently sport flats, while second waves rarely do." According to Elliott Wave theory,Nifty is in [C Minute Wave] of the {2nd Minor Wave (Zig Zag)} of (C Intermediate Wave) of the [4th Primary Wave (Flat)] of {1st Cycle Wave} of (1st Super Cycle Wave) of [1st Grand Super Cycle Wave].

      Please read the Disclaimer here. Thank You.

Friday, November 23, 2012

Daily Update: Short Term Outlook

  • Price
    • Price Action

      On Thu 22 Nov 2012, the S&P CNX NIfty Index opened at 5628.6 ( 46 Points Higher than Previous Opening Price ) , made a high of 5643.35; ( 23 Points Higher than Previous High ) it made a low of 5608 ( 46 Points Higher than Previous Low ) closed at 5627.75 ( 12 Points Higher than Previous Close ). The Volumes were 94,058,612 ( -11% Lower than last trading session, and about -18.4% Lower than Average. The Volume figures were about -82.82% of Standard Deviation Below the Mean, and it was not an outlier figure. Nifty closed in the Q2, the Second Quartile of it's True Range. The Color of the candle was Black with the upper shadow was equal to 14.75 Points, and the body was equal to 35.35 and lower shadow was equal to 19.75 There was No Clear Consensus as to the direction of trading.
    • Moving Averages and Pivot Points

      The Short Term Moving Average is at, 5610 medium term average is 5640 and the long term average is at 5320. The Market Structure is Technically Speaking, SIDEWAYS. Supports are placed at 5559, 5545, 5530, 5487, 5466, 5450, 5415, 5351, 5291. While Resistances are placed at , 5589, 5603, 5618, 5662, 5682, 5698, 5733, 5797, 5857.
    • Volatility

      The daily VIX closed at 14.91, while previous close was 15.46, a change of -3.56% Lower than previous close. ATR was 63. ATR is keeping above 60, because of lower circuit on Friday, 5th of October 2012. To overgeneralize, low volatility is generally observed to occur at Market tops, and perhaps during range bound movement and vice versa.
    • Market Breadth

      As on Thu 22 Nov 2012, the Market Breadth was 1.12, which is considered as Average , while at the end of the last trading session it was 1.06. The McClellan Oscillator reading was -43.35, which is considered as Normal.
  • Volume and Open Interest
    • Volumes

      On Thursday 22 Nov 2012 Volumes were Below Average. For the next full trading session the Volumes are expected to be Below Average - somewhere around 95,000,000. The MFI reading was 51.9 while previously it was 52.4. While poor CMF is going back to hibernation after dilly-dallying with 0 line at +0.08. Delivered Quantity to Traded Quantity was 50.35 while at the end of previous trading session it was 47.31, on BSE. NSE is not disclosing the data.

    • Futures

      The Open Interest in Futures at the End of the Day Thursday 22 Nov 2012 was 16,719,400 while previously it was 16,546,300 a change of 1.05% The Cost of Carry of the Series Expiring on 29-Nov-2012 was 11.75% while previously it was 5.93% while the change in Open Interest was -3.62% The Cost of Carry of the Series Expiring on 27-Dec-2012 was 7.98% while previously it was 6.98% while the change in Open Interest was 28.82%
    • Options

      The Open Interest in Options at the End of the Day Thursday 22 Nov 2012 was 142,740,900 while previously it was 141,316,500 a change of 1.01%. The Highest Open Interest is in 5800 Strike Calls and this might define the upper cap for the November expiry range. The largest change in Open Interest figures was noticed in 5800 Strike Calls. As for Index Put Options the Highest Open Interest is in 5500 Strike Puts. The largest change was noticed in 5500 Strike Index Put Options. PCR fell to 0.95 from 1.
  • Time
    • Position of Celestial Entities on Tuesday
      Positions of Nodes, Satellites, Planets etc.,
      *RashiDegLordNakshatraPadaNaksh LordPada LordStatus
      AscSagittarius245JupMula2KetMar
      SunScorpio217MarAnuradha2SatMer
      MonPisces337JupU.Bhadrapada2SatMer
      MarSagittarius250JupMula4KetSat
      Mer(R)Libra205VenVishakha2JupMerCom
      Jup(R)Taurus48VenRohini3MonMer
      VenLibra187VenSwati1RahRah
      SatLibra191VenSwati2RahSatExl
      Rah(R)Scorpio212MarVishakha4JupRah
      Ket(R)Taurus32VenKrittika2SunJup
      Ura(R)Pisces340JupU.Bhadrapada3SatSun
      NepAquarius306SatDhanistha4MarMon
      PluSagittarius253JupP.Asadha1VenVen
    • Aspects and Transits
      PlanetAspectPlanetOrbValue
      SunTrineMoon0.11186
      SunTrineUranus3.3173
      SunSquareNeptune0.51-154
      MoonSquareMars3.09-93
      MoonConjunctionUranus3.2320
      MoonSquareAscendant4.5-17
      VenusSextileMars3.1346
      VenusConjunctionSaturn4.22173
      VenusTrineNeptune0.5883
      MarsSextileSaturn1.09185
      MarsSquareUranus0.11-113
      MarsConjunctionPluto3.32235
      MarsConjunctionAscendant1.42259
      JupiterTrineMidheaven4.0317
      SaturnTrineNeptune5.230
      SaturnSextilePluto2.2340
      SaturnSextileAscendant0.3269
      UranusSquarePluto3.21-18
      UranusSquareAscendant1.3-22
      PlutoConjunctionAscendant1.5133
  • Intermarket Analysis
    • USDINR Pair

      The US Dollar Lost against the INR by about -0.045 (based on RBI Reference Rate). Change in Open Interest at the End Of the Day was 6.8% and the Actual Open Interest at End Of the Day was 2,716,558. The Daily Parabolic SAR is 54.8244. USDINR pair has finished an irregular top, or as "Bobby the Smug" would call it Expanded Flat. It seems to be doing the 4th of the C (I haven't discerned the degrees so far, so if someone amongst you has it, please mail me). Probably it would finish it's corrective below 50 level.
    • International Indices


  • Institutional And Commercials Activity

    • FII
      As on Thursday, 22-Nov-2012, under the Cash Segment FIIs were net Buyers for Rs 114.76 Crores. While yesterday they were net Buyers for Rs 182.59 Crores. And in the Current Series they are net Buyers for Rs 3039.32 Crores, and from 1st Jan 2012 till date they are Net Buyers for Rs 84,666 Crores
    • DII
      As on Thursday, 22-Nov-2012, under the Cash Segment DIIs were net Sellers for Rs -164 Crores. While yesterday they were net Sellers for Rs -133.08 Crores. And in the Current Series they are net Sellers for Rs -3184.32 Crores, and from 1st Jan 2012 till date they are Net Sellers for Rs -44,969 Crores
  • Outlook
    • Trend and Bias
      The long term trend of S&P CNX Nifty is up. The medium term trend is Trendless or Sideways. The short term trend is down as Nifty is below 5635. For next few weeks, trading in Index Futures would call for strict discipline. Please use hard stop loss, without fail.

      Nifty could open flat to positive on Friday, possibly around 5635. Nifty has a strong resistance in the region of 5676. And supports are in the region of 5623. The expected range is 5598 to 5652. The Open Interest in Futures is very very low. It might indicate lack of any trend triggering news. The large Financial Institutions are disinterested in any directional trading at the moment,.

      ***"Within impulses, fourth waves frequently sport flats, while second waves rarely do." According to Elliott Wave theory, Nifty is in [C Minute Wave] of the {2nd Minor Wave (Zig Zag)} of (C Intermediate Wave) of the [4th Primary Wave (Flat)] of {1st Cycle Wave} of (1st Super Cycle Wave) of [1st Grand Super Cycle Wave]. Nifty would be trending up if it is above the Intermediate Term Average (5600) and above Adjusted PSAR (5635), and sideways otherwise

      Please read the Disclaimer here. Thank You.


Thursday, November 22, 2012

Daily Update: Short Term Outlook

  • Price
    • Price Action

      On Wed 21 Nov 2012, the S&P CNX NIfty Index opened at 5582.5; ( -23 Points Lower than Previous Opening Price ) , made a high of 5620.2; ( 6 Points Higher than Previous High ) it made a low of 5561.4 ( 13 Points Higher than Previous Low ) closed at 5614.8 ( 43 Points Higher than Previous Close ). The Volumes were 105,148,728 ( -2% Lower than last trading session, and about -9.9% Lower than Average. The Volume figures were about -45.2% of Standard Deviation Below the Mean, and it was not an outlier figure. Nifty closed in the Q3, the Third Quartile of it's True Range. The Color of the candle was White with the upper shadow was equal to 5.4 Points, and the body was equal to 58.8 and lower shadow was equal to 21.1 There was Clear Buying Pressure during the entire day.
    • Moving Averages and Pivot Points

      The Short Term Moving Average is at, 5600 medium term average is 5640 and the long term average is at 5320. The Market Structure is Technically Speaking, SIDEWAYS. Supports are placed at 5559, 5545, 5530, 5487, 5466, 5450, 5415, 5351, 5291. While Resistances are placed at , 5589, 5603, 5618, 5662, 5682, 5698, 5733, 5797, 5857.
    • Volatility

      The daily VIX closed at 15.46, while previous close was 15.81, a change of -2.21% Lower than previous close. ATR was 65. ATR is keeping above 60, because of lower circuit on Friday, 5th of October 2012. To overgeneralize, low volatility is generally observed to occur at Market tops, and perhaps during range bound movement and vice versa.
    • Market Breadth

      As on Wed 21 Nov 2012, the Market Breadth was 1.06, which is considered as Average , while at the end of the last trading session it was 0.4. The McClellan Oscillator reading was -59.66, which is considered as Normal
  • Volume and Open Interest
    • Volumes

      On Wednesday 21 Nov 2012 Volumes were Below Average. For the next full trading session the Volumes are expected to be Below Average - somewhere around 96,600,000. The MFI reading was 52.4 while previously it was 45. While poor CMF is going back to hibernation after dilly-dallying with 0 line at +0.12. Delivered Quantity to Traded Quantity was 47.31 while at the end of previous trading session it was 46.4, on BSE. While on NSE WITHHELD IT'S DATA it was while previously it was 28.33%.
    • Futures

      The Open Interest in Futures at the End of the Day Wednesday 21 Nov 2012 was 16,546,300 while previously it was 16,230,300 a change of 1.95% The Cost of Carry of the Series Expiring on 29-Nov-2012 was 5.93% while previously it was 8.94% while the change in Open Interest was -1.14% The Cost of Carry of the Series Expiring on 27-Dec-2012 was 6.98% while previously it was 7.75% while the change in Open Interest was 21.94%.
    • Options

      The Open Interest in Options at the End of the Day Wednesday 21 Nov 2012 was 141,316,500 while previously it was 137,491,650 a change of 2.78% The Highest Open Interest is in 5800 Strike Calls and this might define the upper cap for the November expiry range. The largest change in Open Interest figures was noticed in 5800 Strike Calls. As for Index Put Options the Highest Open Interest is in 5500 Strike Puts. The largest change was noticed in 5500 Strike Index Put Options. PCR rose to 1 from 0.89.
  • Time
    • Position of Celestial Entities on Tuesday
      Positions of Nodes, Satellites, Planets etc.,
      *RashiDegLordNakshatraPadaNaksh LordPada LordStatus
      AscSagittarius244JupMula2KetMon
      SunScorpio216MarAnuradha1SatMer
      MonAquarius324SatP.Bhadrapada2JupMer
      MarSagittarius249JupMula3KetSat
      Mer(R)Libra206VenVishakha2JupKetCom
      Jup(R)Taurus48VenRohini3MonMer
      VenLibra186VenChitra4MarMon
      SatLibra191VenSwati2RahSatExl
      Rah(R)Scorpio212MarVishakha4JupRah
      Ket(R)Taurus32VenKrittika2SunJup
      Ura(R)Pisces340JupU.Bhadrapada3SatSun
      NepAquarius306SatDhanistha4MarMon
      PluSagittarius253JupP.Asadha1VenVen
    • Aspects and Transits
      PlanetAspectPlanetOrbValue
      SunConjunctionMercury9.565
      SunTrineUranus4.3356
      SunSquareNeptune0.09-175
      MoonTrineMercury1.24140
      VenusSextileMars3.4218
      VenusConjunctionSaturn5.3139
      VenusTrineNeptune0.1691
      MarsSextileSaturn1.48143
      MarsSquareUranus0.58-98
      MarsSextileNeptune3.2645
      MarsConjunctionPluto4.16209
      MarsConjunctionAscendant1.32264
      JupiterTrineMidheaven2.5222
      SaturnTrineNeptune5.1431
      SaturnSextilePluto2.2838
      SaturnSextileAscendant0.1675
      UranusSquarePluto3.18-18
      UranusSquareAscendant0.34-27
      PlutoConjunctionAscendant2.4429
  • Intermarket Analysis
    • USDINR Pair

      The US Dollar Gained against the INR by about 0.2925 (based on RBI Reference Rate). Change in Open Interest at the End Of the Day was 2.1% and the Actual Open Interest at End Of the Day was 2,544,172. The Daily Parabolic SAR is 54.7734. USDINR pair has finished an irregular top, or as "Bobby the Smug" would call it Expanded Flat. It seems to be doing the 4th of the C (I haven't discerned the degrees so far, so if someone amongst you has it, please mail me). Probably it would finish it's corrective below 50 level.
    • International Indices

      Dow Jones didn't exhibit any weakness for the entire trading day, yesterday. The level of 12850 is the next hurdle for it. DAX traded between 7150 and 7200, and closed with a positive bias. It seems to be doing a flat B of Intermediate Degree. Nikkei has opened gap up above it's long standing 9200 resistance level, and is currently trading with a positive bias. Nikkei is trading sideways for a very long time between 8500 and 9200.
  • Institutional And Commercials Activity

    • FII
      As on Wednesday, 21-Nov-2012, under the Cash Segment FIIs were net Buyers for Rs 182.59 Crores. While yesterday they were net Buyers for Rs 143.38 Crores. And in the Current Series they are net Buyers for Rs 2924.56 Crores, and from 1st Jan 2012 till date they are Net Buyers for Rs 84,551 Crores
    • DII
      As on Wednesday, 21-Nov-2012, under the Cash Segment DIIs were net Sellers for Rs -133.08 Crores. While yesterday they were net Sellers for Rs -11.53 Crores. And in the Current Series they are net Sellers for Rs -3020.32 Crores, and from 1st Jan 2012 till date they are Net Sellers for Rs -44,805 Crores
  • Outlook
    • Trend and Bias
      The long term trend of S&P CNX Nifty is up. The medium term trend is Trendless or Sideways. The short term trend is down as Nifty is below 5635. For next few weeks, trading in Index Futures would call for strict discipline. Please use hard stop loss, without fail.

      Nifty could open flat to positive on Wednesday, possibly around 5631. Nifty has a strong resistance in the region of 5671. And supports are in the region of 5623. The expected range is 5591 to 5671. The Open Interest in Futures is very very low. It might indicate lack of any trend triggering news. The large Financial Institutions are disinterested in any directional trading at the moment,.

      ***"Within impulses, fourth waves frequently sport flats, while second waves rarely do." According to Elliott Wave theory, Nifty is in [C Minute Wave] of the {2nd Minor Wave (Zig Zag)} of (C Intermediate Wave) of the [4th Primary Wave (Flat)] of {1st Cycle Wave} of (1st Super Cycle Wave) of [1st Grand Super Cycle Wave]. Nifty would be trending up if it is above the Intermediate Term Average (5600) and above Adjusted PSAR (5640), and sideways otherwise

      Please read the Disclaimer here. Thank You.

Wednesday, November 21, 2012

Daily Update: Short Term Outlook

  • Price
    • Price Action for 20 Nov

      On Tue 20 Nov 2012, the S&P CNX NIfty Index opened at 5604.8; ( 27 Points Higher than Previous Opening Price ) , made a high of 5613.7; ( 20 Points Higher than Previous High ) it made a low of 5548.35 ( -1 Points Lower than Previous Low ) closed at 5571.55 ( 0 Points Higher than Previous Close ). The Volumes were 107,481,297 ( 1% Higher than last trading session, and about -8.5% Lower than Average. The Volume figures were about -38.16% of Standard Deviation Below the Mean, and it was not an outlier figure. Nifty closed in the Q2, the Second Quartile of it's True Range. The Color of the candle was Black with the upper shadow was equal to 8.9 Points, and the body was equal to 65.35 and lower shadow was equal to 23.2.
    • Moving Averages and Pivot Points

      The Short Term Moving Average is at, 5600 medium term average is 5630 and the long term average is at 5320. The Market Structure is Technically Speaking, SIDEWAYS. Supports are placed at 5559, 5545, 5530, 5487, 5466, 5450, 5415, 5351, 5291. While Resistances are placed at , 5589, 5603, 5618, 5662, 5682, 5698, 5733, 5797, 5857.
    • Volatility

      The daily VIX closed at 15.81, while previous close was 16.68, a change of -5.22% Lower than previous close. ATR was 66. ATR is keeping above 60, because of lower circuit on Friday, 5th of October 2012. To overgeneralize, low volatility is generally observed to occur at Market tops, and perhaps during range bound movement and vice versa.
    • Market Breadth

      As on Tue 20 Nov 2012, the Market Breadth was 0.4, which is considered as Poor , while at the end of the last trading session it was 0.43. The McClellan Oscillator reading was -76.11, which is considered as OverSold.
  • Volume and Open Interest
    • Volumes

      On Tuesday 20 Nov 2012 Volumes were Below Average. For the next full trading session the Volumes are expected to be Below Average - somewhere around 98,400,000. The MFI reading was 45 while previously it was 37.4. While poor CMF is going back to hibernation after dilly-dallying with 0 line at +0.08. Delivered Quantity to Traded Quantity was 46.4 while at the end of previous trading session it was 51.66 , on BSE. While on NSE it was 28.33% while previously it was 27.02%.
    • Futures

      The Open Interest in Futures at the End of the Day Tuesday 20 Nov 2012 was 16,230,300 while previously it was 16,736,500 a change of -3.02% The Cost of Carry of the Series Expiring on 29-Nov-2012 was 8.94% while previously it was 11.94% while the change in Open Interest was -4.54% The Cost of Carry of the Series Expiring on 27-Dec-2012 was 7.75% while previously it was 8.82% while the change in Open Interest was 7.22%.
    • Options

      The Open Interest in Options at the End of the Day Tuesday 20 Nov 2012 was 137,491,650 while previously it was 138,043,300 a change of -0.4%. The Highest Open Interest is in 5800 Strike Calls and this might define the upper cap for the November expiry range. The largest change in Open Interest figures was noticed in 5600 Strike Calls. As for Index Put Options the Highest Open Interest is in 5500 Strike Puts. The largest change was noticed in 5500 Strike Index Put Options. PCR fell to 0.89 from 0.97.
  • Time
    • Position of Celestial Entities on Tuesday
      Positions of Nodes, Satellites, Planets etc.,
      *RashiDegLordNakshatraPadaNaksh LordPada LordStatus
      AscSagittarius243JupMula2KetSun
      SunScorpio215MarAnuradha1SatSat
      MonAquarius311SatSatabhisaj2RahSat
      MarSagittarius249JupMula3KetJup
      Mer(R)Libra207VenVishakha3JupVenCom
      Jup(R)Taurus48VenRohini3MonMer
      VenLibra184VenChitra4MarVen
      SatLibra191VenSwati2RahSatExl
      Rah(R)Scorpio212MarVishakha4JupRah
      Ket(R)Taurus32VenKrittika2SunJup
      Ura(R)Pisces340JupU.Bhadrapada3SatSun
      NepAquarius306SatDhanistha4MarMon
      PluSagittarius253JupP.Asadha1VenVen
    • Aspects and Transits
      PlanetAspectPlanetOrbValue
      SunConjunctionMercury7.56149
      SunTrineUranus5.3439
      SunSquareNeptune1.09-145
      MoonTrineVenus7.125
      MoonSextileMars397
      MoonTrineSaturn0.33121
      MoonConjunctionNeptune5.4285
      MoonSextilePluto1.6100
      MoonSextileAscendant1.38107
      VenusConjunctionSaturn6.37223
      VenusTrineNeptune1.3165
      MarsSextileSaturn2.27101
      MarsSquareUranus1.45-83
      MarsSextileNeptune2.4104
      MarsConjunctionPluto5182
      MarsConjunctionAscendant1.22269
      JupiterTrineMidheaven1.428
      SaturnTrineNeptune5.0732
      SaturnSextilePluto2.3336
      SaturnSextileAscendant1.0459
      UranusSquarePluto3.15-18
      UranusSquareAscendant0.22-28
      PlutoConjunctionAscendant3.3825
  • Intermarket Analysis
    • USDINR Pair

      The US Dollar Lost against the INR by about -0.0565 (based on RBI Reference Rate). Change in Open Interest at the End Of the Day was 7.5% and the Actual Open Interest at End Of the Day was 2,490,682. The Daily Parabolic SAR is 54.6708. USDINR pair has finished an irregular top, or as "Bobby the Smug" would call it Expanded Flat. It seems to be doing the 4th of the C (I haven't discerned the degrees so far, so if someone amongst you has it, please mail me). Probably it would finish it's corrective below 50 level.
    • International Indices


  • Institutional And Commercials Activity

    • FII
      As on Tuesday, 20-Nov-2012, under the Cash Segment FIIs were net Buyers for Rs 143.38 Crores. While yesterday they were net Sellers for Rs -1.52 Crores. And in the Current Series they are net Buyers for Rs 2741.97 Crores, and from 1st Jan 2012 till date they are Net Buyers for Rs 84,368 Crores
    • DII
      As on Tuesday, 20-Nov-2012, under the Cash Segment DIIs were net Sellers for Rs -11.53 Crores. While yesterday they were net Sellers for Rs -502.6 Crores. And in the Current Series they are net Sellers for Rs -2887.24 Crores, and from 1st Jan 2012 till date they are Net Sellers for Rs -44,672 Crores
  • Outlook
    • Trend and Bias
      The long term trend of S&P CNX Nifty is up. The medium term trend is Trendless or Sideways. The short term trend is down as Nifty is below 5635. For next few weeks, trading in Index Futures would call for strict discipline. Please use hard stop loss, without fail.

      Nifty could open flat to positive on Wednesday, possibly around 5576. Nifty has a strong resistance in the region of 5584-5591. And supports are in the region of 5531. The expected range is 5528 to 5617. The Open Interest in Futures is very very low. It might indicate lack of any trend triggering news. The large Financial Institutions are disinterested in any directional trading at the moment,.

      ***"Within impulses, fourth waves frequently sport flats, while second waves rarely do." According to Elliott Wave theory,Nifty is in [C Minute Wave] of the {2nd Minor Wave (Zig Zag)} of (C Intermediate Wave) of the [4th Primary Wave (Flat)] of {1st Cycle Wave} of (1st Super Cycle Wave) of [1st Grand Super Cycle Wave]. Nifty would be trending up if it is above the Intermediate Term Average (5620) and above Adjusted PSAR (5661), and sideways otherwise

      Please read the Disclaimer here. Thank You.

Monday, November 19, 2012

Daily Update: Short Term Outlook

  • Price
    • Price Action for 19 Nov

      On Mon 19 Nov 2012, the S&P CNX NIfty Index opened at 5577.3; ( -48 Points Lower than Previous Opening Price ) , made a high of 5592.75; ( -58 Points Lower than Previous High ) it made a low of 5549.25 ( -11 Points Lower than Previous Low ) closed at 5571.4 ( -3 Points Lower than Previous Close ). The Volumes were 106,988,015 ( -12% Lower than last trading session, and about -9.4% Lower than Average. The Volume figures were about -30.33% of Standard Deviation Below the Mean, and it was not an outlier figure. Nifty closed in the Q2, the Second Quartile of it's True Range. The Color of the candle was Black with the upper shadow was equal to 15.45 Points, and the body was equal to 43.5 and lower shadow was equal to 22.15 There was No Clear Consensus as it was a Doji.
    • Moving Averages and Pivot Points

      The Short Term Moving Average is at, 5610 medium term average is 5620 and the long term average is at 5320. The Market Structure is Technically Speaking, SIDEWAYS. Supports are placed at 5559, 5545, 5530, 5487, 5466, 5450, 5415, 5351, 5291. While Resistances are placed at , 5589, 5603, 5618, 5662, 5682, 5698, 5733, 5797, 5857.
    • Volatility

      The daily VIX closed at 16.68, while previous close was 16.22, a change of 2.84% Higher than previous close. ATR was 67. ATR is keeping above 60, because of lower circuit on Friday, 5th of October 2012. To overgeneralize, low volatility is generally observed to occur at Market tops, and perhaps during range bound movement and vice versa.
    • Market Breadth

      As on Mon 19 Nov 2012, the Market Breadth was 0.43, which is considered as Poor , while at the end of the last trading session it was 0.47. The McClellan Oscillator reading was -55.19, which is considered as Normal
  • Volume and Open Interest
    • Volumes

      On Monday 19 Nov 2012 Volumes were Below Average. For the next full trading session the Volumes are expected to be Below Average - somewhere around 96,800,000. The MFI reading was 37.4 while previously it was 44.2. While poor CMF is going back to hibernation after dilly-dallying with 0 line at +0.15. Delivered Quantity to Traded Quantity was 51.66 while at the end of previous trading session it was 47.61 , on BSE. While on NSE it was 27.02% while previously it was 27.73% .
    • Futures

      The Open Interest in Futures at the End of the Day Monday 19 Nov 2012 was 16,736,500 while previously it was 16,899,150 a change of -0.96% The Cost of Carry of the Series Expiring on 29-Nov-2012 was 11.94% while previously it was 3.27% while the change in Open Interest was -1.98% The Cost of Carry of the Series Expiring on 27-Dec-2012 was 8.82% while previously it was 6.73% while the change in Open Interest was 6.50%.
    • Options

      The Open Interest in Options at the End of the Day Monday 19 Nov 2012 was 138,043,300 while previously it was 136,698,000 a change of 0.98%. The Highest Open Interest is in 5800 Strike Calls and this might define the upper cap for the November expiry range. The largest change in Open Interest figures was noticed in 5600 Strike Calls. As for Index Put Options the Highest Open Interest is in 5500 Strike Puts. The largest change was noticed in 5400 Strike Index Put Options. PCR rose to 0.92 from 0.97.
  • Time
    • Position of Celestial Entities on Tuesday
      Positions of Nodes, Satellites, Planets etc.,
      *RashiDegLordNakshatraPadaNaksh LordPada LordStatus
      AscSagittarius242JupMula1KetVen
      SunScorpio214MarAnuradha1SatSat
      MonCapricorn298SatDhanistha2MarSat
      MarSagittarius248JupMula3KetJup
      Mer(R)Libra208VenVishakha3JupVenCom
      Jup(R)Taurus48VenRohini3MonMer
      VenLibra183VenChitra4MarVen
      SatLibra191VenSwati2RahSatExl
      Rah(R)Scorpio212MarVishakha4JupRah
      Ket(R)Taurus32VenKrittika2SunJup
      Ura(R)Pisces340JupU.Bhadrapada3SatSun
      NepAquarius306SatDhanistha4MarMon
      PluSagittarius253JupP.Asadha1VenVen
    • Aspects and Transits
      PlanetAspectPlanetOrbValue
      SunSquareMoon5.23-20
      SunConjunctionMercury5.48303
      SunTrineUranus6.3623
      SunSquareNeptune2.1-115
      MoonSquareMercury0.25-158
      MoonTrineVenus4.4996
      MoonConjunctionNeptune7.32162
      VenusConjunctionSaturn7.44149
      VenusTrineNeptune2.44133
      MarsSextileSaturn3.0559
      MarsSquareUranus2.31-68
      MarsSextileNeptune1.55162
      MarsConjunctionPluto5.44155
      MarsConjunctionAscendant1.13274
      JupiterTrineMidheaven0.2933
      SaturnTrineNeptune534
      SaturnSextilePluto2.3834
      SaturnSextileAscendant1.5243
      UranusSquarePluto3.13-19
      UranusSquareAscendant1.18-23
      UranusOppositionMidheaven8.39-2
      NeptuneSextileAscendant3.0813
      PlutoConjunctionAscendant4.3122
      PlutoSquareMidheaven5.26-1
  • Intermarket Analysis
    • USDINR Pair

      The US Dollar Lost against the INR by about -0.025 (based on RBI Reference Rate). Change in Open Interest at the End Of the Day was -4.6% and the Actual Open Interest at End Of the Day was 2,317,641. The Daily Parabolic SAR is 54.5562. USDINR pair has finished an irregular top, or as "Bobby the Smug" would call it Expanded Flat. It seems to be doing the 4th of the C (I haven't discerned the degrees so far, so if someone amongst you has it, please mail me). Probably it would finish it's corrective below 50 level.
    • International Indices

  • Institutional And Commercials Activity

    • FII
      As on Monday, 19-Nov-2012, under the Cash Segment FIIs were net Sellers for Rs -1.52 Crores. While yesterday they were net Buyers for Rs 509.71 Crores. And in the Current Series they are net Buyers for Rs 2598.59 Crores, and from 1st Jan 2012 till date they are Net Buyers for Rs 84,225 Crores
    • DII
      As on Monday, 19-Nov-2012, under the Cash Segment DIIs were net Sellers for Rs -502.6 Crores. While yesterday they were net Sellers for Rs -374.72 Crores. And in the Current Series they are net Sellers for Rs -2875.71 Crores, and from 1st Jan 2012 till date they are Net Sellers for Rs -44,661 Crores
  • Outlook
    • Trend and Bias
      The long term trend of S&P CNX Nifty is up. The medium term trend is Trendless or Sideways. The short term trend is down as Nifty is below 5635. For next few weeks, trading in Index Futures would call for strict discipline. Please use hard stop loss, without fail.

      Nifty could open flat to positive on Tuesday, possibly around 5575. Nifty has a strong resistance in the region of 5608. And supports are in the region of 5532. The expected range is 5543 to 5591. The Open Interest in Futures is very very low. It might indicate lack of any trend triggering news. The large Financial Institutions are disinterested in any directional trading at the moment, and their operators are continously booking losses on LARGE number of long positions in index futures.

      ***"Within impulses, fourth waves frequently sport flats, while second waves rarely do." According to Elliott Wave theory, [C Minute Wave] of the {2nd Minor Wave (Zig Zag)} of (C Intermediate Wave) of the [4th Primary Wave (Flat)] of {1st Cycle Wave} of (1st Super Cycle Wave) of [1st Grand Super Cycle Wave]. Nifty would be trending up if it is above the Intermediate Term Average (5620) and above Adjusted PSAR (5661), and sideways otherwise

      Please read the Disclaimer here. Thank You.

Wheel in the Sky

  • Price
    • Price Action for 16 Nov

      On Fri 16 Nov 2012, the S&P CNX NIfty Index opened at 5624.8; ( -26 Points Lower than Previous Opening Price ) , made a high of 5650.15; ( -2 Points Lower than Previous High ) it made a low of 5559.8 ( -44 Points Lower than Previous Low ) closed at 5574.05 ( -57 Points Lower than Previous Close ). The Volumes were 121,900,570 ( -9% Lower than last trading session, and about 2.6% Higher than Average. The Volume figures were about 8.22% of Standard Deviation Above the Mean, and it was not an outlier figure. Nifty closed in the Q1, the First Quartile of it's True Range. The Color of the candle was Black with the upper shadow was equal to 25.35 Points, and the body was equal to 90.35 and lower shadow was equal to 14.25. Nifty closed below it's 50 day Moving Average, on about average volumes.
    • Moving Averages and Pivot Points

      The Short Term Moving Average is at, 5630 medium term average is 5620 and the long term average is at 5320 Market Structure is technically Bullish. Supports are placed at 5559, 5545, 5530, 5487, 5466, 5450, 5415, 5351, 5291. While Resistances are placed at , 5589, 5603, 5618, 5662, 5682, 5698, 5733, 5797, 5857.
    • Volatility

      Today VIX closed at 16.22 (4.44%). ATR was 67. ATR is keeping above 60, because of lower circuit on Friday, 5th of October 2012. To overgeneralize, low volatility is generally observed to occur at Market tops, and perhaps during range bound movement and vice versa.
    • Market Breadth

      As on Fri 16 Nov 2012, the Market Breadth was 0.47, which is considered as Poor , while at the end of the last trading session it was 0.55. The McClellan Oscillator reading was -32.45, which is considered as Normal.
  • Volume and Open Interest
    • Volumes

      On Friday 16 Nov 2012 Volumes were Above Average. For the next full trading session the Volumes are expected to be Below Average - somewhere around 94,100,000. The MFI reading was 44.2 while previously it was 44.7 While poor CMF is going back to hibernation after dilly-dallying with 0 line at +0.15. Delivered Quantity to Traded Quantity was 47.61 while at the end of previous trading session it was 41.65, on BSE. While on NSE it was 27.73% while previously it was 26.76% .
    • Futures

      The Open Interest in Futures at the End of the Day Friday 16 Nov 2012 was 16,899,150 while previously it was 18,699,900 a change of -9.63% The Cost of Carry of the Series Expiring on 29-Nov-2012 was 3.27% while previously it was 8.39% while the change in Open Interest was -11.31% The Cost of Carry of the Series Expiring on 27-Dec-2012 was 6.73% while previously it was 8.23% while the change in Open Interest was 8.26%.
    • Options

      The Open Interest in Options at the End of the Day Friday 16 Nov 2012 was 136,698,000 while previously it was 133,815,500 a change of 2.15% . The Highest Open Interest is in 5800 Strike Calls and this might define the upper cap for the November expiry range. The largest change in Open Interest figures was noticed in 5500 Strike Calls. As for Index Put Options the Highest Open Interest is in 5500 Strike Puts. The largest change was noticed in 5400 Strike Index Put Options. PCR fell to 0.82 from 0.89.
  • Time
    • Position of Celestial Entities on Tuesday
      Positions of Nodes, Satellites, Planets etc.,
      *RashiDegLordNakshatraPadaNaksh LordPada LordStatus
      AscSagittarius241JupMula1KetVen
      SunScorpio213MarVishakha4JupRah
      MonCapricorn284SatSravana2MonJup
      MarSagittarius247JupMula3KetRah
      Mer(R)Libra209VenVishakha3JupMonCom
      Jup(R)Taurus49VenRohini3MonMer
      VenLibra182VenChitra3MarKet
      SatLibra191VenSwati2RahSatExl
      Rah(R)Scorpio212MarVishakha4JupRah
      Ket(R)Taurus32VenKrittika2SunJup
      Ura(R)Pisces340JupU.Bhadrapada3SatSun
      NepAquarius306SatDhanistha4MarMon
      PluSagittarius253JupP.Asadha1VenVen
    • Aspects and Transits
      PlanetAspectPlanetOrbValue
      SunConjunctionMercury3.32465
      SunTrineUranus7.386
      SunSquareNeptune3.1-85
      MoonTrineJupiter3.5550
      MoonSquareSaturn3.56-45
      MoonTrineMidheaven3.1254
      VenusConjunctionSaturn8.5176
      VenusTrineNeptune3.57102
      MarsSextileSaturn3.4417
      MarsSquareUranus3.18-53
      MarsSextileNeptune1.1221
      MarsConjunctionPluto6.28129
      MarsConjunctionAscendant1.04279
      JupiterTrineMidheaven0.4332
      SaturnTrineNeptune4.5435
      SaturnSextilePluto2.4432
      SaturnSextileAscendant2.427
      UranusSquarePluto3.1-19
      UranusSquareAscendant2.14-19
      UranusOppositionMidheaven7.33-10
      NeptuneSextileAscendant2.1427
      PlutoConjunctionAscendant5.2418
      PlutoSquareMidheaven4.24-3
  • Intermarket Analysis
    • USDINR Pair

      The US Dollar Gained against the INR by about 0.0325 (based on RBI Reference Rate). Change in Open Interest at the End Of the Day was 5.4% and the Actual Open Interest at End Of the Day was 2,429,054. The Daily Parabolic SAR is 54.4478. USDINR pair has finished an irregular top, or as "Bobby the Smug" would call it Expanded Flat. It seems to be doing the 4th of the C (I haven't discerned the degrees so far, so if someone amongst you has it, please mail me). Probably it would finish it's corrective below 50 level.
    • International Indices

      Dow Jones witnessed some short covering. The level of 12450 seems a bit formidable at the moment ..GDAXI is in a tailspin. It seems to be doing a flat B of Intermediate Degree. Nikkei saw some spectacular short covering around the lower support of it's range. Now it's nearing it's upper range of the swing. Nikkei is trading sideways for a very long time between 8500 and 9200.
  • Institutional And Commercials Activity

    • FII
      Under the Cash Segment FIIs were net Buyers for Rs 509.71 Crore. In the current series they have been Net Buyers for Rs 2600.11 Crore. They are net buyers for 84,226.53 in the current year. They seem to have placed large buy orders at lower levels.
    • DII
      Under the Cash Segment, the DIIs were Net Sellers for Rs -374.72 Crore. In the current series they are Net Sellers for Rs -2373.11 Crores. In the Current Year they have sold off for Rs -44,158.11 Crore. Possibly DIIs are sitting on more than 80% of cash now.
  • Outlook
    • Trend and Bias
      The long term trend of S&P CNX Nifty is up. The medium term trend is Trendless or Sideways. The short term trend is down as Nifty is below 5635. For next few weeks, trading in Index Futures would call for strict discipline. Please use hard stop loss, without fail.

      Nifty could open flat to positive on Monday, possibly around 5569. Nifty has a strong resistance in the region of 5591. And supports are in the region of 5529. The expected range is 5543 to 5597. The Open Interest in Futures is very very low. It might indicate lack of any trend triggering news. The large Financial Institutions are disinterested in any directional trading at the moment, and their operators are continously booking losses on LARGE number of long positions in index futures.

      ***"Within impulses, fourth waves frequently sport flats, while second waves rarely do." According to Elliott Wave theory, [C Minute Wave] of the {2nd Minor Wave (Zig Zag)} of (C Intermediate Wave) of the [4th Primary Wave (Flat)] of {1st Cycle Wave} of (1st Super Cycle Wave) of [1st Grand Super Cycle Wave].. Nifty would be trending up if it is above the Intermediate Term Average (5620) and above Adjusted PSAR (5661), and sideways otherwise

      Please read the Disclaimer here. Thank You.