Quick Bucks

Chains of habit are too light to be felt until they are too heavy to be broken.
Warren Buffett

Though the index afftects the stocks in broader term but as far as shorter swings are concerned, no matter where market moves, every stock has its own movement.  Like where Nifty is expected to have a gap-up opening tomorrow, EKC seems not to get free from beers' clutches. Have a look

well, I recommend to short EKC at opening at current level that could be covered at 95. So Rs. 5 in an hour an hour is not a bad deal. Its 5% man. Whewwwwwwwwwwww!

Is It The Bottomline

"A man who is at the top is a man who has the habit of getting to the bottom."

Joseph E. Rogers

Long live Beers, chants are on as procession of bad news causing the bourses' descent.Banking had been a stong sector since recession which led many short term rallies and a downward correction wasnt possible without a week banking. Thanks to housing scam, rather media which hyped the whole story. Panic is apparant and rampant selling is seen across all sectors.

Nify made intraday low of 5728 which is an important 61.8 fibo level. So will it take a halt or reversal.No, not yet. why? Hey, have a look at stoch and MACD, the difference between the two lines are still widening. So no respite for Nifty. Lets expect it to touch 76.4 level. Beears, its party time.

Bank Tumbles

I may be out tomorrow. Nifty is having a strong support at 5800 and its likely that it gonna hover between 5800 and 6000 for couple of days. We saw panic due to korean aggression followed by news of LIC housing finance. Banks which has been strong in last couple of months now surrendered to the panic wave.

On Thursday morning we can expect a futher fall. I would suggest to go short in Allahabad bank as soon as the market opens.

You may go short in Allahabad bank @ 250-246 level and can expect 240-235. Have a great time bear.

CEE YA

Destiny of Nifty

Whole day spent answering people where Nifty is heading. Though the good news at European front has given some respite to the falling bourse still it isnt strong enough to sustain the selling pressure that is apparent from this chart.

See the Nifty is about to revers at the brink of larger EMA where as both lines on MACD are too lower than the zero line make it bullish. Moreover stoch is about to make a bearish crossover that too on the upper end.

Nor convinced. Lets have another look.

MACD lines seems reluctant to cross above zero line and stoch has already started it journey back from the upper end. So shouldnt we expect Nifty below 5950. We should.

Bank Stumbles

Banking stocks have come under some selling pressure on concerns of exposure to micro-finance institutions (MFIs). You can measure the fear on the charts. See the Bank nifty .

Well, if you ask where is the bottom, I will say that we still havnt seen the begining of downfall of this mighty index. See, it has merely touched the middle moving average line. Though bearish crossover occured in MACD but it is held on way up above zero line and the difference between the two lines of stoch seems shying to widen. So, I will confirm the reversal when the first moving crossover occur. Wait for few more days. You wont be disappointed.

SUGAR SOURS

See the similarity between these two sugar players.

BAJAJ HIND

BALRAMPUR CHINI

NIFTY RETREATS

After a long lasting rally ,where Nifty made a high of 6349, a reversal was expected. The gradual descent commenced on 5/11 and Nifty is sill finding its support. It on the verge of hitting 50% retracement at 5845 but since the difference between both lines on sotch are going wider I can assume Nifty is gonna touch 61% level that happens at 5725.

HAPPY DIWALI

MAY THE LIGHT OF HAPPINESS LIGHT UP YOUR LIFE. MAY THIS DIWALI BE THE MOST SPARKLING AND LIGHTENING. THE SIGHTS AND SOUNDS FILLING UP YOUR HEART WITH JOY AND HAPPINESS.

WISHING YOU ALL A VERY HAPPY DIWALI.

Silver Lining

Silver has shown an unprecedented rally in past few week. The prices sored more than Rs. 1000 in last two trading session. Unprecedented move upside or downside always follwed by unexpected reversal. And that what goin to happen with silver prices. In festive season people are going bullish on silver. Now the question arises when and how silver is gonna correct. Lets have a look on EOD chart and you may perceive the imminent doom.

Its negative divergence on RSI. Notice the difference in volume on both peaks. Hope you might have got an idea what gonna happen with silver.