April 21, 2019

April 20, 2019

Hacking Democracy: How Stolen Aadhaar Data Of Nearly 10 Cr Voters Was Used To Delete People From Electoral Rolls

“They used it to do some profiling of voters. They were seeding it with Aadhaar linked information to profile voter data,” he said. “After that, you draw up a list, showing how likely a candidate is to vote for you. To do this, we think they were using an IVRS [automated voice calling — one of the many digital services political parties now rely on] to reach out to all the potential voters.”

“They would ask questions about whom you will support, and based on your rating, assign a score. They repeated this process to work out a list of people who weren’t supporting them, and then they filed Form 7 requests about these people, to have them removed. It’s a very complex scheme.”

Form 7 is an objection to a name being included in the voter list — it can be filed by anyone about anyone else. Once filed, the EC physically verifies whether the person has shifted, or is deceased, or is a duplicate, and if that is the case, removes the name.

But thousands of people in both states, as well as in the rest of the country, have been taking to social media to talk about how they’ve been robbed of their votes. In fact, cricketer Rahul Dravid, who was one of the people in the EC’s ads to exhort people to vote, found his name missing as well.

Read more at https://www.huffingtonpost.in/entry/hacking-democracy-stolen-aadhaar-voter-deletion_in_5cb9afa2e4b068d795cb870c

People really do quit because of their bosses, or sometimes follow them

When Harish Banker quit his bank to join another financial services firm, six of his reporting team members also resigned from the company to join him.

This was a big blow to the firm which was already facing high rates of attrition. While the human resources team tried to retain the staff members by offering higher pay, none of them relented.

Their argument was that Banker was their mentor when they joined the team and they were only repaying the loyalty to the individual.

In HR parlance, a phrase that is often repeated is that people leave managers and not companies. While not everyone may agree, it is a fact that a company’s brand ambassador for a new joinee is often the manager s/he reports to.

You don’t need a boss like Miranda Priestly from The Devil Wears Prada to leave a job. They could, in fact, be an immense influencer in employee career decisions. So much so that employees quit en masse to follow their reporting manager. Especially if the employee has been hired by this person.

Read more at https://www.moneycontrol.com/news/business/economy/people-really-do-quit-because-of-their-bosses-or-sometimes-follow-them-3857731.html

April 19, 2019

NIFTY weekly charts

- trend is up on weekly charts
- this week, nifty closed 0.9% in positive
- small signs of selling visible at higher levels

- support 11000

Something funny with NSE advance decline stats


Yesterday RELIANCE was up 3% while NIFTY closed 0.3% in negative.

What if Reliance closed flat? Then nifty would have closed another 60 points in the negative.

This is because Reliance has got almost 10% weight in the index.

Check this out at https://www.equitymaster.com/india-markets/nse-replica.asp

April 18, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.3% in negative at 11753
- pattern formed - dark cloud cover

- gap present below prev day's bar
- markets fine as long as this holds

- option writing support 11500 resistance 12000

They took the data from your servers ... stop pretending

April 17, 2019

On quitting a job at 32

Question from Jaycobb
That was a pretty bold decision at a relatively young age of 32! If am allowed to ask
- Was it disillusionment with appraisal alone that made you take the decision to not work for someone or there were other motivations in play?
- Curious to know if you are able to sustain since then (20 years?) only with trading alone? That would be quite a successful jump into unknown if I may say!

I was an MBA from a premier institute... after working for few years, I realised that my juniors and my seniors were all working just to impress their bosses who incidentally were also working for another boss. This never ended and was a chain.

People rate their work experience in terms of responsibility, designation, perks, salary etc... but at the end of the day, you are still working for someone else. There is no difference between a VP and the office security guy... everyone is working for money and trying to keep their seniors happy, get a raise, a promotion perhaps.

April 16, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.8% in positive at 11787
- AD was flat... why?

- nice swing low around 11500

Cloned fingerprints being used for Aadhaar authentication?

The unthinkable happens.... though it was only a matter of time

The secret ballot is no longer a secret

April 15, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today nifty closed 0.4% in positive at 11690
- AD was 10:7

- option writing support 11500 resistance 12000

Game over? Can't believe it happened so soon

Thoughts On The FMP Fiasco / Mutual Funds Sahi Nahi Hai

My view - a mutual fund may have risks clearly defined in its investment strategy but there is this bigger risk of the fund manager not following the rules. As always, the manager does not lose the job, the fund earns the fees and investors lose.


Anyone who has been following the coverage of the crisis in the media (mainstream and social), would have noted that much of the attention has been on Kotak MF, and on the so-called “safety” of FMPs.  In this post, I’d like to move that spotlight a bit.  The way I see it, firstly, the risks in investing in FMPs are, more or less, the same as they have been over the last several years.  It’s just that many investors, advisors, and fund houses, have been in denial over the fact that portfolio concentration is a bigger risk than credit quality in itself.  While I’ve talked at length about this previously, in this post, I want to talk about the questionable choices made by fund houses this time around, once this risk became a likely reality.  Secondly, I feel that looking at the FMP fiasco from the lens of the decisions of HDFC MF (rather than Kotak MF) offers a better picture of what has happened.  Investors in Kotak FMPs may have been the first to be visibly impacted, but it was HDFC MF that was the first to make the choices that brought us to where we are.

Read more at http://mfcritic.blogspot.com/2019/04/thoughts-on-fmp-fiasco.html

April 14, 2019

BANK NIFTY technicals

- trend is up
- support 29000

NIFTY weekly charts

- trend is up
- support 11000
- resistance 12000

April 12, 2019

Market outlook

Daily charts:
- trend is up on daily charts
- today markets closed 0.4% in positive at 11643
- AD was 5:4

- option writing levels: 11000 - 11500 - 12000

Double Top Pattern – Backtest Rules & Results

The double top pattern is a chart formation consisting of two consecutive price peaks that leads to a bearish reversal.

For years, traders have claimed that the double top is a high probability short setup.

This is because a double top pattern signifies that bulls are having trouble pushing the price past the prior high.

However, there has been little statistical research done to prove whether or not this pattern has any predictive ability.

In this article, we come up with a definition for the double top, code it up and test the pattern on some historical data.

1. Define The Double Top Pattern
Before we go any further it’s important to think about what a double top actually is and how we can write it into code.

This always presents a problem with chart patterns because they only become clear after the pattern is completed.

For example, a double top pattern only looks like a double top after the stock hits a high then drops through the accompanying support area.

If the stock doesn’t drop fully, then it will look more like a wedge or a triangle pattern.

If the high doesn’t hold long enough then the double top pattern very quickly looks nothing like a double top at all and instead morphs into a typical breakout.

Because of this, it’s essential to come up with a mathematical formula to represent a double top.

Read more at https://jbmarwood.com/double-top-pattern/