February 20, 2017

Market outlook

Daily charts
- trend is up on daily charts
- today, NF took support at 8800 and recovered
- AD was 2:1, VIX up marginally
- expecting stiff resistance around 9000 levels.
- note if 2 days "joined" candlestick is considered, a "hanging man" is formed today
- immediate support is at 8800... holding this will be positive this week

Neowave analysis of markets

The 2 consecutive Doji candles on weekly chart suggested continuing struggle between Bulls and Bears. In the meanwhile, the broader market continued to under-perform. While the IT/Pharma/Bank sectors gained 1-1.5%, the Realty/Auto/PSUs/Capital Good sectors lost 1-3% each. Stock-wise profit-booking continued for the 2nd consecutive week. For every advancing stock, there were more than 2 declining 

Being a trader is not about predictions

Trading is all about risk management, position size and an edge. A sound psychological makeup helps.

Making money has nothing to do with predictions or calls.

Release the Pressure: an open letter to parents - short video

65% of IT employees not trainable in new technologies, likely to lose jobs, says Capgemini CEO

Capgemini India Chief Executive Officer Srinivas Kandula has said that 65% of employees in the country’s information technology industry are not trainable in new technologies, PTI reported on Sunday. At the National Association of Software and Services Companies annual conference in Mumbai, Kandula warned of high job losses at the middle and senior levels at domestic IT companies because of a change in the nature of work.

Kandula also raised concerns regarding the quality of the workforce, saying that many of the 3.9 million employees in the sector had been educated at sub-par engineering colleges which did not follow standard grading patterns. Companies had also not invested enough in upgrading their employees’ skill sets as they were answering to investors only seeking high returns, the CEO added.

Read more at https://scroll.in/latest/829780/65-of-it-employees-not-trainable-in-new-technologies-likely-to-lose-jobs-says-capgemini-ceo

February 19, 2017

Introduction to TradingView – Webinar

In this webinar Mr Abhishek H.Singh,CMT will walk you through Tradingview Platform, features, Drawing tools which are essential for a active trader/investor. You will be learning about advance indicators, setting price alerts and how to take advantage of social community tools from trading view. He will also discussing about the publishing tools and tradingview free offerings in the form widgets & stock charting library.

Who Should Attend?

Students, Newbie Traders, experience traders/investors, brokers/sub-brokers and those who are very curious about knowing the in and out features of Tradingview platform.

Register for the Webinar

Event Date & Time : 22nd Feb 2017 (7.30p.m – 8.30p.m)
Type : Online Webinar

Source: http://www.marketcalls.in/

February 18, 2017

How the Flash Crash Trader Navinder Singh’s $50 Million Fortune Vanished

It took Navinder Singh Sarao a long time to accept that he might have been scammed out of $50 million. Stuck in London’s Wandsworth prison, wracked with anxiety and unable to sleep, the realization dawned on the man dubbed the “Flash Crash Trader” as slowly as spring turned to summer outside the barred window of his jail cell.

The trauma of the past few weeks had been difficult to process. On April 20, 2015, the slight, doe-eyed 36-year-old had dozed off peacefully in the same suburban bedroom he’d slept in since he was a boy. The next day he was arrested and taken to a police station, where he was charged with 22 counts of fraud and market manipulation carrying a maximum sentence of 380 years.

Where’s the money, Nav, his lawyers wanted to know. Sarao couldn’t make bail, they gradually learned, because the bulk of his wealth was tied up in investments and offshore trusts, each more complicated than the last. Days in Wandsworth prison, a Victorian-era fortress where Sarao was housed with sexual predators and violent offenders, turned into weeks.

After four months of dead ends, his legal team struck a deal with the authorities: If the U.S. Justice Department and the Commodity Futures Trading Commission agreed not to oppose a reduction in bail to 50,000 pounds, the firm would act as a bounty hunter, taking on responsibility for tracking down the missing millions on the condition that its fees be paid if it did.

They were going down a rabbit hole. A review of Sarao’s investments from 2005 to the present day, based on dozens of interviews and thousands of pages of documents, reveals another twist in an already remarkable story. Navinder Sarao, the trading savant accused of sabotaging the world’s financial markets from his bedroom, may himself have been the na├»ve victim of what his lawyers portray as a series of cons that stripped him of almost every cent he earned

Read more at https://www.bloomberg.com/news/features/2017-02-10/how-the-flash-crash-trader-s-50-million-fortune-vanished - excellent weekend reading.

NIFTY weekly charts

- 2 consecutive dojis hint at top formation

- Weekly close below 8700 will be confirmation

- Expect strong resistance near 9000

Is NIFTY forming a significant top?

1.Not crossing 8900 will be first confirmation

2.Second confirmation will be break of 8700

3.Supports 8700, 8500, 8300

Is BANKNIFTY forming a significant top?

- lots of selling seen near higher levels.

- close below 20000 will be confirmation.