Wednesday, July 4, 2012

Nifty outlook for 04 July 12

Flat to positive opening is expected with possibility of range bound trades and mixed bias . Market players are trying to hold Nifty above 5300 but failed to retain it till now. we are seeing  that below 5300 on spot Bears are dominating . so be cautious
Trade in Nifty futures according to these levels
Buy at / above: 5335   Targets: 5349 - 5368 - 5389- 5398
Stoploss : 5313
Sell at / below: 5313   Targets: 5291 - 5272 - 5252 - 5233
Stoploss : 5336

Do not miss the call . always enter in trade at the time of receipt of call ...
once u miss the train u cant catch the same...u have to wait for next ...
once u missed booking profit u lost a gr8 opportunity .
Profit booking is quite easy, please develop loss booking capability and limit your  losses by placing stop loss order.
please note if stop loss is wide means we are quite confident on gains.
If stop loss is small means we are in dilemma and  trying to limit losses to minimum so do not evaluate risk/reward ratio seeing the call...
Member's Views

A Vikas (7/3/2012 3:39:43 PM): 1) ur guidance is must and it's mast.
A Vikas (7/3/2012 3:40:09 PM): 2.) it is difficult to book loss.
A Vikas (7/3/2012 3:40:40 PM): 3.) it is difficult to book profit as well specially when u r already booked loss.
A Vikas (7/3/2012 3:41:12 PM): 4.) for me ...Technical analysis will take more time ....
A Vikas (7/3/2012 3:42:18 PM): 5.) Need more live analysis ...such as predicting any call

RK (7/3/2012 3:41:20 PM): experience was fantastic with dhanvarsha....
RK (7/3/2012 3:41:32 PM): i coudnt believe the way market fell 30 pts just after ur call
RK (7/3/2012 3:41:50 PM): it was as if u were sitting on top and beating the bulls
RK (7/3/2012 3:42:55 PM): But jokes apart, 1 very important learnng was that whenever market moves sluggishly for few hours then immediately some drastic move will follow.
RK (7/3/2012 3:44:18 PM): and coming to my case : I didnt book profit i felt i can still book profit by carrying it forward...bcoz of the confidense that market will go down until it fills the gaps it created on the friday bull run

Ilyas (7/3/2012 10:09:30 PM): gr8 sirjii.... i can save charts also... well aap kaha the ... ek accha mentor dhundhne pure ek saal lag gaye... but i got it i think

Ilyas (7/3/2012 10:58:05 PM): yes... gain k saath bahot kuch seekhne mil raha hai
Ilyas (7/3/2012 10:58:27 PM): happy to b part of dhanvarsha

Write up of RK

Significance of today's trading session
In yesterday’s trading session, nifty closed at 5287, a 9 point up move from previous close of 5278. This opens up to an important event tomorrow which is tri-star candlestick pattern. What is this pattern and why is it so significant? Here are the details.


As the name suggest tri-star pattern is a rare candlestick pattern, which is composed of three consecutive doji candlesticks. The pattern indicates market reversal when they are formed after a prolonged trend. There are both bullish and bearish doji tri-star candlestick patterns
Bearish Doji Tri-Star: Indicate the end of a uptrend and beginning of downtrend. The requirements include,
  • It should be formed after a significant uptrend.
  • There should be three consecutive doji candlesticks.
  • The middle doji candlestick should be gapped above to other two candlesticks (except in forex charts).
Both bullish and bearish doji tri-star patterns indicate high indecision in the market leading to the reversal of current trend. Usually the trading volume associated with this pattern is low. Tri-star pattern is a moderately reliable pattern and confirmation of trend reversal is strongly suggested, which can be a bullish (for bullish tri-star) or bearish (for bearish tri-star) candlestick on fourth day with increased trading volume

Hence if the nifty closes below 5287  and preferably with low volumes then we might witness this rare tri-star doji which marks a beginning of trend reversal to an extent of at least 4% down.

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