October 24, 2016

Elliott Wave Analysis Report of Nifty for 24 Oct 2016

Nifty opened mild gap at 8708 but failed to sustain at higher levels and traded with negative bias for rest of the day. Nifty declined about 50 points from day’s high to register day’s low 8652 followed by a sharp bounce before closing 6 points negative at 8693.

Friday, there was no exact trading strategy suggested because calculations were suggesting minimum target at 8727 and stoploss 8668, so there was no risk reward and even if break below 8668 then also the upside pattern will be incomplete and there were no downside targets. Overall conditions were suggesting a very narrow range where it was not safe to decide a trade in advance. And same happened on Friday, Nifty trade in narrow range of 50 points without any clear direction. Let’s have a fresh look at latest charts for further scenario.

Read more at http://sweeglu.com/elliott-wave-analysis-report-of-nifty-for-24-oct-2016/

October 23, 2016

SHape of things to come: IPHONE 10

Srinivasa Ramanujan: Encounter with the Infinite

Ramanujan commemorative postage stamp issued in India in 1962

How Did the Minimally Trained, Isolated Srinivasa Ramanujan, with Little More than an Out-of-Date Elementary Textbook, Anticipate Some of the Deepest Theoretical Problems of Mathematics—Including Concepts Discovered Only after His Death?

Hardy realizes that Ramanujan’s formulae, so weird yet elegant, supercharged with meaning yet concise, “must be true because, if they were not true, no one would have the imagination to invent them.” So disturbed is Hardy by the genius evident in Ramanujan’s letter that he sends an emissary to the edge of the empire, to India, to bring Ramanujan back to the imperial capital.

At Cambridge, Ramanujan is friendly and funny, easy company, but weird mathematics gushes out of him. He can’t explain the reasoning that leads to his formulae, nor their significance. He seems otherworldly to Hardy, as easy and dexterous with infinite quantities as with a knife and fork. With his intellect finally being fed by a university, Ramanujan’s genius erupts into something never before seen.

.... Then he returns to India, expecting to die. As his last act, he produces the strangest work of his career: a series of mathematical formulae only recently understood. We now know that they grant the bearer passage to the infinite.

Read more at http://www.believermag.com/issues/201501
and https://en.wikipedia.org/wiki/Srinivasa_Ramanujan

October 21, 2016

BANKNIFTY weekly charts

- first higher high higher low in 5 weeks
- holding 18800 will be bullish

NIFTY weekly charts

- trend is up on weekly charts
- immediate support 8500
- low of recent bull bar has not broken so far

Billion Dollar Day - a 1986 documentary about currency (forex) speculati...

NIFTY option writing trades - II

This post has my option trades (mostly writing) from 17th OCT onwards

Market outlook

Daily charts
- trend is up on daily charts
- markets trading near upper trenline of falling channel
- today, markets were flat, AD flat, VIX negative
- option writing support 8500

October 20, 2016

Market outlook

Daily charts
- trend is up on daily charts
- rangebound movement seen for now 2 days
- markets approaching upper trendline of falling channel
- breakout from channel will be bullish
- immediate support 8500

NILKAMAL breakout... stock at lifetime high