Tata Motors daily chart

 

 

 

In the recent times Tata Motors had lost heavily but now there are signs of reversal. Tata Motors tested its major support at Rs.284 and bounced back. Now it has filled this gap and traders can initiate long if it closes above Rs.310.

 

 

Nifty medium term trend

 

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6101
Reversal if closes below	5800

 

 

Thought for the day

 

When a man looks at the ocean, he can only see that part of it which comes within his range of vision; so it is with the truth.

 

Market updates for 28/01/2013

Nifty daily chart

Nifty is moving in a upward sloping channel. Since it has tested trend line support around Rs.6000 now it is likely to move towards 6100. we need breakout above 6100 for continuation of uptrend.

Bajaj Auto Weekly chart

Bajaj Auto was in down trend from past few weeks. Now this down trend has come to a halt as it has reached a major trend line support around Rs.2050. Bounce back from this level is quite likely. 

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6101
Reversal if closes below	5800

Thought for the day

It is always the false that makes you suffer, the false desires and fears, the false values and ideas, the false relationships between people. Abandon the false and you are free of pain; truth makes happy — truth liberates. Nisargadatta Baba

Market updates for 25/01/2013

LT daily chart

LT has declared quarterly result today.  It has major support at Rs.1530 and resistance around Rs.1600. So we need break out from this range to take position.

Nifty monthly chart

Refer to the analysis of Nifty on 1/01/2013

http://karthik4bullsnbears.blogspot.in/2013/01/market-updates-for-02012013-sbi-daily.html

I had mentioned about possibility of Nifty facing resistance around 6100 and what is the recent high??  6101. Now  Nifty is in make or break situation either it has to break 6100 and reach 6200-6300 and may be much higher or it has to fall. So stay cautious and be patient.

What will be X factor for breakout or break down ?? Lets see

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6101
Reversal if closes below	5800

Thought for the day

Happiness is within and the source is the centre of consciousness, love, and wisdom - Swami Rama

Market updates for 24/01/2013

Tata Motors daily chart

Tata Motors faced trend line resistance at Rs.336 and today it has closed below Rs.318 which was earlier peak. The breakout above Rs.318.50 was a failure and now it is likely to fall further.

Corporates results on 24/01/2013

Biocon , Coramandel Intn

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6101
Reversal if closes below	5800

Thought for the day

Pleasure is always derived from something outside you, whereas joy arises from within. - Eckhart Tolle

 

 

 

 

Evolution of a trader

Stage Six: The Expert Trader

1) In this final stage, you completely understand the markets you are trading. Being involved in it everyday you are aware of every key price level 

2) You understand market concept and are able to predict the direction of the markets a fairly good amount of time. 

3) You pat yourself on your back and take profits as soon as you feel euphoric. You do this because you understand euphoria is the same as emotional trading. 

4) You talk to other traders and realize the development stage they are in 

5) People start asking you for trading advice, you publish a book, and you have a specific trading methodology that represents you! 

6) Taking trades come naturally and you are able to get in and out at the precise price levels based on tape 

7) Instead of having the markets take your stop out, you exit when you know you are wrong. 

8) You keep your head high but remain humble on the inside. You have now officially graduated the school of the hard knocks 

9) You have reached the unconscious competence stage.