June 24, 2017

About Hammers and Inverted Hammers

This is a Hammer.. this can be bullish or bearish depending on where it happens. After a strong uptrend, this has bearish implications and vice versa.

Understanding the psychology of market participants will explain everything.

Related image

And this is an Inverted Hammer... sometimes known as shooting star (suggesting bearishness).

BANKNIFTY weekly charts

- trend is up on weekly charts
- support 22400

NIFTY weekly charts

- trend is up on weekly charts
- last 3 weeks NF is rangebound
- NF trading within range of last bull bar
- support 9300

June 23, 2017

My crazy wild trades today

Ideally MTM on close should have been 40K but made some bad exits.

NIFTY hourly charts

- note faster move in opposite direction
- good support 9580 F
- below this, expect deeper correction.

Market outlook

Daily charts
- trend is up on daily charts
- today, NF closed 0.6% in negative and below 9600
- AD was negative
- swing low support 9300
- immediate support 9500 (hourly charts)

Lots of sell signals today

Most stocks are being sold off from quite some time though...

June 22, 2017

Market outlook

Daily charts
- trend is up on daily charts
- today, NF closed flat
- AD was negative (3:5)
- note there was strong selling intraday
- swing low support 9300

GST explained in one picture

GST is not simply one nation one tax.

It is 4 tax slabs, 3 types of GST, 3 returns per month and 37 returns per year.

June 21, 2017

Market outlook

Daily charts
- trend is up on daily charts
- today, NF closed 0.2% in negative
- AD was flat
- swing low support at 9300