trading futures on technical analysis with toocool

[toocool]

just came on pc now and i see you have asked at 3.03 pm, however on my tapatalk app in mobile i saw it as 3 hours ago post .;-(

 

[saakk]

just came on pc now and i see you have asked at 3.03 pm, however on my tapatalk app in mobile i saw it as 3 hours ago post .;-(

No issues sir..... :thumb:

 

[toocool]

markets made/making a range on 60 minutes , unless this range is broken on downside , trend is up , no shorts should be created

 

[toocool]

I think markets will blastoff to the upside in coming months, stay tuned, will tell soon why

 

[toocool]

as for the market outlook and update , i have not been a banknifty follower but started watching it recently and i think its very bearish as of now

whenever i have seen 20 ema so downward sloping , and if and when the scrip has returned to test it and failed to remain there , it has always been very bearish , just look at the sharp slope of 20 ema towards down , its not a good sign , that too on a weekly chart ,compare it with earlier instance in banknifty itself ,the 20 ema slope was already so down and when price went to test that , sharp fall happened afterwards

it means markets looks very tough times ahead and the worst may not be over yet , including nifty and sensex

inspite of this post and its meaning , i have something new to share and contrary to this post at this moment

this is guppy ema's plotted on nifty monthly and as you can see , markets gone only once below ema's , in 2008 , the previous instances were just starting of the chart so i will not include them in my analysis .

a picture is worth a thousands of words .

just look at the space between the ema's , its almost even in recent times and markets gone 2 times(december 2011 and july 2013) to test those ema's and successfully bounced from there . the spaces between the ema's and there upward march has not been tampered yet , the elections are quite nearer than ever only 6-7 months away at max? and this is monthly chart , i do not think markets are going to go much down now , infact markets are poised to make new life time highs in coming months .

i am very strong believer of charts and only market sentiment driving the markets theory

at this point i do not even see 5700 being taken out easily , its a monthly chart so anything big change will not be reflected soon so we have to wait and see what happens next , i will be worried a bit only below 5700 now , otherwise i am a bull:thumb:

 

[toocool]

now we will find about how social moods make or break governments

in the chart above you can see we in india were in a very sideways social mood from point "A" to point "B", it is said that if social moods are positive just before elections it benefits the ruling party ............but if the social moods are negative just before election it goes against the ruling party

no single party could come in power because social moods was sideways from point "A" to point "B",it was not positive atleast , it was all coalition governments period , even in 2003-04 election congress didnt come with majority , and only after elections markets rallied for 5 years

even in elections of 2009 at point "D" markets were not exactly in positive social moods , all of you must remember , congress was only a largest party , and only got away due to alliances .....right?

however the final analysis of election results will be done just near elections ,because, it will depend upon the social mood at the time of elections ,but since the picture looks bullish as of now , its ok(and sad) to assume that congress and allies will have upper hand in the election(if markets remain positive all this time and till election week)

there is one caveat in this theory , its mainly developed and worked well in 2 party system , however my assumption is that ,it will still work atleast partly in a multi party system because people still think good about ruling party if their social mood is positive , and look bad upon ruling party if the social mood is negative. so theory should atleast work partially , if not totally

 

[toocool]

exited longs @ 5876 ...........loss of 23 points

 

[toocool]

todays morning fall has locked market in a range on hourly as well as daily charts , weekly trend is however still up , the big move will come beyond this range only , high risk traders would have shorted today morning , i however did not do it , only longs were squared off

i will take my decision of what am i gonna do in coming hours/days ............i am watching the situation on charts

 

[whisky]

todays morning fall has locked market in a range on hourly as well as daily charts , weekly trend is however still up , the big move will come beyond this range only , high risk traders would have shorted today morning , i however did not do it , only longs were squared off

i will take my decision of what am i gonna do in coming hours/days ............i am watching the situation on charts

I think positional shorts can be taken but for new longs it's wait n watch.

 

[toocool]

Today was bad full of confusion for me, took long again @5923, it happens with me. Shouldn't have liquidate longs in the morning but I fumbled and didn't recovered from it. Let's see