Hurst Cycles Trading Software - Accurately Forecast Nifty and Stock Cycles

Wednesday, March 4, 2009

Charts and Intraday Commentary

12:00Noon Update - Well there you have...Breakdown which I called in realtime..Hope you guys enjoyed it and also made some coin :-) We might consolidate from here - a little maybe - but I think market is saying it wants to go much lower...Will not be a straight line ofcourse...I am 50% short from today morning..Ofcourse I wanted to be at 100% eventually but not doing anything more today...This shows why scaling into shorts is important - instead of waiting for higher levels.



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11:05AM Update - See chart below...Could be important..I have increased shorts to 50%..Might not do anything else today...



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10:10AM Update - Starting the short campaign with a small position...As I said before, I am just scaling in now...First 25% at 2630 area...More later...I will be shorting more as time goes by today...Not going to post level by level

I am surprised at the lack of strength today...Anyone, any thoughts why?
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I dont know how far up we go...Right now, global markets look week. Need to wait and watch how our markets react. Either case, I will begin the shorting campaign today..Slowly scaling in like I did before also...Keep watching this space for intraday commentary.

Daily with some important comments outlined on the chart -

NIFTY DAILY


Best.

9 comments:

SAM said...

lee sir ... chat box is blocked in my office :((( even i am planning to build shorts form today ...

SAM said...

i think chat box is blocked in most of the office .. so if we can use this as forum it will be helpfull to many like me ...

Just a suggestion :)

Lee said...

Sam, I rarely post in chatbox..mostly only if someone asks me something there..rest of the time, I post updates in the blog only...

SAM said...

I AM really surprised to see that market nowt given me chance to short

SAM said...

i was epecting rally upto 2720 :(

SAM said...

lee i think that dollar value against rs could be one of the reason whats ur take

Lee said...

I was expecting a rally too...But started some shorts anyway...When most ppl expect a rally, it will never come.

This looks like the plain old buy the rumour AND sell the news PUMP and DUMP on the RBI news..Nothing else..

Best.

SAM said...

lost a huge chunck today was holding call[:(]

SAM said...

Thanks for short call hehehe njoying free fall