Monday, December 12, 2011

Desi MO (McClellan's oscillator for NSE) at EOD 12th DEC 2011


Posted by r m at 7:09 PM

8 comments:

My Life My Trade said...

Did anyone notice that the HOD (high of the day) on Monday was a tad bit lower than HOD on Friday...

IMO downside from here is limited and shorts will soon get punished.

December 12, 2011 at 8:23 PM
Vtrender said...

MLMT,

The triggers were fundamental and the worst fears were exceeded.

Contrarians would look at the neagtivity the IIP is generating and think about a short term bottom coming up.India is finally talking about possible job cuts and pink slips.The market saw it from last year.

The question as ever: is the worst priced in?

December 12, 2011 at 9:11 PM
Shivani Bhasin said...
This comment has been removed by the author.
December 13, 2011 at 12:10 AM
My Life My Trade said...

@Vtrender

I agree with you. I think US mkt is no longer to be used as a template for Indian market. They have been diverging ever since Nov 2010 top.

As I mentioned in the trading room the other day, I have a friend here who is amazing at global economics. He is saying that INR will go to 70+ by sometime late 2012/early 2013.

A good template for Indian market right now would be the less-manipulated bear markets of early 2000. A true bear market.. once breaches the 200sma... backtests it from below and then never looks back up for a LONG time... that is what we are witnessing here in the Indian markets... In fact, Nifty could not even get back up to 200 day sma - that speaks for how weak the market is...

With INR going up more... FII will have even less incentive to invest here... I was reading somewhere that the FII investment in India in 2011 is down 95% compared to 2010.

In every down move of ES, NF falls lot more.. and in every up move of ES, NF retraces lot lesser...

Indeed the fundamental reasons are overpowering the technicals here...

December 13, 2011 at 12:21 AM
My Life My Trade said...

@Vtrender

Also want to thank you for the amazing community you have put together in the trading room - some amazing people there - Kris, RM, VK, GD, RM, Janak (his way out of the money CE/PE plays LOL).. sorry if I missed someone...

What is most amazing is that people are ever-willing to share their knowledge...

December 13, 2011 at 12:22 AM
Vtrender said...

@ MLMT,

Thank you for your kind words.

Please keep sharing your views.

December 13, 2011 at 8:40 AM
Vtrender said...

Thought for the day : Follow the movements of the market, not the movement of indicators.Only price pays!

December 13, 2011 at 8:46 AM
VK said...

@MLMT

Good insight about INR. While I do feel that INR is poised to touch 60+ around spring time, it will not be one way trajectory. The financial wizards of the political spectrum will wave the magic wand of the printing machines to off set the huge negatives. India is certainly bottoming out and the next 4-5 months is damn crucial and it would be nice a healthy correction takes place and the junk runs away from the system. The market in India will be more stable without FII investment as it will drive away the greed element and bring in genuine investors.

Thanks for mentioning the trading room experience, fun, and the people :)

Regards

Vinod

December 13, 2011 at 8:02 PM

Post a Comment

Subscribe to: Post Comments (Atom)