sensex chart...

sensex chart, going forward sensex will be facing strong resistance on upper line of trend channel, 400 dma, and two very important fibo lvls all converging at the same place!!!

strategy: booking profits and initiating hedged shorts near these lvls when sensex reacts and comes down from there, fresh longs only above the circled area if sensex stays above the resistance area for a few days.

nifty p/e chart...

possible projected strong support seen on blue line near 15 p/e on the chart if nifty comes down. the corresponding value on spot comes to around 3550.

nifty for monday...

looks like a falling channel on intra chart of nifty, looking at very bullish US mkt close on friday nifty may open gap up on monday, chartical resistances are 4580/4607/4615 if crossed then 4650 may be reached(tgt of channel breakout i.e about 100 points).

larger picture we are still viewing as ABC-X-ABC currently the B leg (relief rally) of the second zigzag going on which has target of 61.8% retracement at 4722(15741 on sensex). interestingly the 38.2% retracement of entire correction from 6357-3790 is 4770(15835 on sensex) at which point selling may come again.

chart patterns use in intraday trading...

an example.

i am guiding and discussing intraday movement on nifty spot with fellow boarders on vfmdirect forum using live yahoo and other charts/techniques.

this is how i traded and asked to keep tsl lvls for friday as given in live chart for friday. hope readers find it useful. its pity that i booked out early and missed last brkout rally above tgt2. but had asked to keep raising tsl till 4393 spot where it got triggered giving handsome 100 odd points since 4285 for anyone who followed.

no ifs no buts no flashy s/w or techniques no costly setups no confusions but simple price following with traditional techniques(see chart).

regards.
abhay r somkuwar

using yahoo finance live chart for intraday trading...

i have illustrated with comments one of my possible strategy marked on yahoo nifty spot chart of today for intraday, it is one of several possible ways one can use to analyze and possibly trade the indices/stocks. there could be sophisticated and more accurate but costly methods/techniques available for intraday trading but this is using simple cost effective and readily available source i.e yahoo finance charts. above strategy would have fetched approx. about 75 points in spot.

abhay r somkuwar.

nifty p/e chart...

nifty currently trading at a p/e of 18.25 quite close to average p/e of 17.86 and mean p/e of 19.65 and also near to support trendline, at 15/16 p/e it becomes attractively valued and anything below that will be cheaper.

nifty long term moving averages and supports to look out for...

sensex chart...

in nifty, the current bounce is expected to last atleast upto 4675-4725, closings above that it is likely to give more momentum on upsides.

lvls to look out for...

today 13th june 2008(all spot lvls):
hold nifty longs 4445 sl closing basis.
hold reliance longs 2185 sl closing basis.

sensex chart...

dow positive rsi divergence...

positive div developing on dow rsi as shown in above dow chart is a good news for pullback rally to happen.

nymex light crude oil futures chart...

most active nymex light crude oil july futures chart.

a record brkout high price near 138 on last friday led to US stock mkt crash on friday which will have a bearish sentimental impact on coming monday on asian stock mkts.