The sell from the open at 5760 was looking like 5550 very early in the morning when it turned and moved away from the morning lows to 5780 and then 5810 and before you could react you had 5855 printed.
What followed was even more intriguing as the market failed to hold 5814 yet again and toppled this time for good to reach the Other objective near 5630. It didn't-missed by 7 points again.
As Girish said, the car on the cliff was pulled and pushed over by even more momentum. The sellers are sadistic Pi**.
Luckily for us and for our guests in the trading room, we had orderflow indicators designed to catch all the volatility of the markets.
4 signals today :
1) short at the open with an OrderFlow red.
2) Buy at 5725 when it changed color to blue.
3) reversal at 5735 which was actually a whipsaw for a 12 point loss.
4) short at 5735 again till 5670 was printed much later in the day.
Have a look :
The total gains in OF were 260 Nifty points in the 2 big trades of the day.
In the Bank Nifty there were 3 profitable trades today :
1) short at the open with an OrderFlow red.
2) Buy at 10700 when it changed color to blue.
3) short at 10900 again till 10420 was printed much later in the day.
The total gains in OF were 680 BankNifty points in the 2 big trades of the day.
Looking into next week, the markets will continue to be volatile, but with such good indicators for direction one need not worry.
Bring it On !
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4 comments:
Monday morning mkt. goes up above 5700 - i believe this - US mkt. trading positively at the moment - Mondays are very rarely gap down or end the day on the negative side - this is not TA - but there is something intriguing about this oversold mkts. esp. in last half hour when you have 55 pts fall - in such cases, generally mkts. go in the other direction next day morning.....wud like to c the open on monday morning
Thank You for the guest invite this Friday.
Worth every minute.
Janak,
US markets close at 1293 spot up 3/4th's of a percent.
If you track US markets watch for these earnings :
Tuesday after close : AAPL, IBM, GOOG
Wednesday before open : GS
Monday : markets closed
Between them the 4 stocks mentioned have enough firepower to tilt the entire trend of that market.
http://www.rediff.com/business/slide-show/slide-show-1-indian-investors-can-now-trade-in-global-indices/20110111.htm
What effect will this have on market trend? And which would mean, finally one can trade 24 hours?
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