nifty smr chart...

my smr charts calculated and posted for mkt.

latest nifty smr chart.


nifty smr chart jan-aug 2008.


smr is smart money ratio, an indicator suggested by economictimes research. it is nothing but a contrarion indicator to price action. troughs mark the tops and peaks mark the mkt bottoms, intermediate and long term.

it is supposed to signal mkt reversals as marked by vertical blue lines in above charts.

having said that, i find it quite difficult to predict next peaks and troughs on smr values by common ta methods, will need some researching/modifications to get some clues. however, at present, a value above 100 or near 20 on smr could signal a possible potential reversal to happen.

i have scaled down smr and nifty spot values for display on same chart.

mkt outlook...

ril resis was 1250(spot) and ongc at 879(recent highs), a couple of days ago ril moved up yday on low vol and ongc went down on high vol, so was expecting they may face resis at mentioned lvls.

ril fut chart, one could have easily taken a long near/below 1150 with a sl and carried, yday was a brkout closing and macd crossover but vol remained low, chart marked with square resis zone, impact of high and low vol on stock movement in past is clearly seen.

ongc shows high vol on downside and less on green closing, macd and other indicators are also bearish, quite weak as compared to reliance.



nifty chart, day before yday price brkout took place and upmove continued yday also but unable to take out 2868 and 2900 looks like a profit booking lvl going forward.

28 jan 2009...

fibo lvls on upperside 2776/2790/2820/2850/2868(swing high).
supp 2733/2685.

short term nifty range 2680-2900.

27 jan 2009...

nifty spot : 2621/2636/2660/2700/2725/2741.

nifty futures: 2603/2614/2635/2668/2688/2700.

bias is positive, but still in intermediate downtrend.

events: rbi third quarteryly review of its monetary policy.