Hurst Cycles Trading Software - Accurately Forecast Nifty and Stock Cycles

Wednesday, September 3, 2008

What Next?

No charts today...I am not sure yet of market direction...BUT I will look to exit longs today at some good profits...Only because I dont want to let these profits go..We will see what the market does near 4540 and 4620 if we do get there...

I was quite bullish after our market action on the last trading day but after watching the US market for past 2 days, I dont like it at all...Does not look good at all...Sure our market can still rally but to me it makes sense to take profits here and now if you're long with me...

I might also try some small shorts today but remember that its quite risky because of the strong momentum we saw before...We should know within the next 2 days whether it was the real thing....Till then the best thing might be to just sit out...Or if you are gutsy try some day trades...

Best.

Tuesday, September 2, 2008

Howz that!...Back with a Bang

What a rally...whew!....How was my call guys for short term bullishness? :)

Next tgt is 4620 area..(4540 still needs to be taken but I think it will)...If we sustain above this, 4750 comes after that....BUT one step at a time...Read my 'morph' post for more details on what to come next....More charts and analysis later...

I got almost best levels to cover shorts and go long...Hope my readers did the same with me...
If my past 2 posts helped you keep out of trouble and also made some money, pls comment here!...I appreciate appreciation...lol :) ...

Have a good trading holiday!

Best.

Monday, September 1, 2008

Bull and Bear Traps

Yesterdays trading was quite funny..First they trapped all the bulls on the wrong side and then got everyone beared up and then trapped all the bears...Good for me..I used the initial weakness to close all shorts and go long...As I had updated in the post below...

We need to take a slightly longer term view and stick by it to survive in this market...no other way...As of now I am bullish for short term..only very short term...The trend can turn back down any time but for now, we need to play attention to the bullish case...For now...

If you are long, play with tight stops and keep booking profits...Thats the only way in this market.

Now one thing to note here the earlier bearish signals on the daily...macd and stochastics are giving some signals that they might be neutralised...Watch this place for more later..For now the bearish case is losing strength and the bullish one is gaining...lets see how it turns out over next couple of days...This might be the last gasp of the dying market...

Best.

Sunday, August 31, 2008

Morph Point

Well from my previous post, you would have seen my state of mind..lol..man i love that monkey...well it captures well the state of mind of traders..not only in our markets but globally...one day we go up, the other day we go down...confusing the hell out of everyone...well you would have got by now that I am confused..we are at a wave morph point...I will show one chart which was my earlier preferred scenario...and a 2nd chart after that which shows the other possibility which is also becoming strong day by day...the more bullish scenario...

First possibility...what i was looking at for all these past days...


2nd one...this one is gaining credence every day we go by..and we need to pay attention to this one here...being completely bearish is dangerous..


Hope you read my comments on the chart...I think we are in a strong 'morph' scenario..we need to give importance to both cases here..As you know I am short still from 4400..I am thinking I will cover today on initial weakness and maybe go long in small amounts..now dont get me wrong..I am still bearish..but see some upside in short term...
Comment welcome please...Good or Bad...
Best.