September 24, 2020

Why successful students fail in life

 “I believe that our society’s “mistakephobia” is crippling, a problem that begins in most elementary schools, where we learn to learn what we are taught rather than to form our own goals and to figure out how to achieve them. We are fed with facts and tested andthose who make the fewest mistakes are considered to be the smart ones, so we learn that it is embarrassing to not know and to make mistakes. Our education system spends virtually no time on how to learn from mistakes, yet this is critical to real learning. Asa result, school typically doesn’t prepare young people for real life unless their lives are spent following instructions and pleasing others. In my opinion, that’s why so many students who succeed in school fail in life”.


-Ray Dalio

September 23, 2020

NIFTY intraday charts

5 min:
- break of initial range was short trade
- cover as per trailing SL

- one could have shorted around 11230-11250 F as this was resistance

- missed long trade near 11000 F 
- no signal but known that 11000 was a very good support


15 min:



NIFTY EOD charts

- trend is up on daily charts
- today nifty closed flat at 11132
- AD was 1:2

- immediate support area is 11000-10800

- note nifty has spent 3 years around 11000
- so markets will be sideways for some time

- NIFTY PE ratio is at 32 and indicates limited upside
- unless EPS improves substantially (unlikely)



September 22, 2020

NIFTY intraday charts

- rangebound day
- first hour high low not crossed

- today's high low will be decision levels for tomorrow



NIFTY EOD charts

- trend is up on daily charts
- today nifty closed 0.6% in negative at 11154
- AD was 1:3

- VIX dropped 5%...now at 21



September 21, 2020

Short term, medium term and long term

 


NIFTY intraday charts

5 min:


15 min:


30 min:



NIFTY EOD charts

- trend is up on daily charts
- today nifty closed 2.5% in negative at 11222
- AD was 1:5

- note trend will reverse on close below 11000
- however big red bars like today and 31-AUG hint that trend will reverse



September 18, 2020

NIFTY intraday charts

5 min:
- lucky if you could catch the breakout failure
- I did not 


NIFTY EOD charts

- trend is up on daily charts
- today nifty closed flat at 11505
- AD was flat

- net move this month is 35 points over 14 trading days



September 17, 2020

S&P 500 charts

US markets open gap down but near support...

if support breaks, expect a deeper correction




NIFTY options open interest distribution

- highest OI evenly split between 11500 PE and 12000 CE



NIFTY intraday charts

5 min:
- today only short trade was profitable
- did not trade long


15 min:



NIFTY EOD charts

- trend is up on daily charts
- today nifty closed 0.7% in negative at 11519
- AD was 1:2




Investing is hard.... very hard

 








September 15, 2020

NIFTY EOD charts

- trend is up on daily charts
- today nifty closed 0.7% in positive at 11522
- AD was 3:2

- in 42 days, nifty has moved from 11000 to 11521
- average move of 12 points per day
- this month, net move is almost zero points in 11 days

- NIFTY PE ratio is at 33

- swing low support 11000



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