Sunday, April 24, 2011

TCS


TCS 30 MIN TF
TCS seems to have hit the roadblock at 1250. On EOD basis it has seen a sharp fall at 1250 in the second attempt, a break below the TL will see more fall and may trigger bigger fall as the Weekly charts show -ve divergence closing below 1032 could Target 966 > 899 > 817. The above view holds until it closes convincingly above 1250.


TCS EOD
Short term charts {30 min} in fact shows it to be in a range and any move above 1245 or below 1140 can confirm the direction.

Action: Short immediate with SL above 1250 on closing basis. Or wait for break of TL on EOD charts which is somewhere close to 1150

CMP:  1192.1


Happy Trading !
SHEKHAR


TCS WEEKLY

Monday, April 11, 2011

Dragons in the Market !

Here is a pattern that was recognized some time ago. The thing about it is that it clearly identifies elements of support and resistance. This pattern identifies short term reversals in the trend which are very tradable.

If you look at the first chart which labels the key elements. The Back will always rise to test the Bottom of the tail-hook (support/resistance). After the second leg is in place you can buy the breakout of the Back price.

Now here is an interesting point that breakout will rise to the level of the top of the tail (support/resistance). If the bottom of the head does not come down and violate the top of the back we have a high probability of continuation.

Check this out for yourself before trading this setup.


Happy Trading !
RainMaker

Enjoy the coffee instead…….

A group of alumni, highly established in their careers, got together to visit their old university professor.

Conversation soon turned into complaints about stress in work and life.

Offering his guests coffee, the professor went to the kitchen and returned with a large pot of coffee and an assortment of cups porcelain, plastic, glass, crystal, some plain looking, some expensive, some exquisite - telling them to help themselves to hot coffee.

When all the students had a cup of coffee in hand, the professor said: 'If you noticed, all the nice looking expensive cups were taken up, leaving behind the plain and cheap ones.. While it is but normal for you to want only the best for yourselves, that is the source of your problems and stress. What all of you really wanted was coffee, not the cup, but you consciously went for the best cups and were eyeing each other's cups.

Now if life is coffee, then the jobs, money and position in society are the cups. They are just tools to hold and contain Life, but the quality of Life doesn't change. Some times, by concentrating only on the cup, we fail to enjoy the coffee in it.'

Don't let the cups drive you.. Enjoy the coffee instead…….

Monday, February 21, 2011

NIFTY FORMING HEAD & SHOULDER

Nifty is forming a possible H&S pattern on hourly chart.    A breakout above 5600 will confirm the pattern and Nifty can TGT approx 5900 NS.

Happy Trading !
RainMaker

Saturday, February 19, 2011

FORGIVENESS IS GIVING UP MY RIGHT TO HATE YOU FOR HURTING ME

"I was 16 years old and living with my parents at the institute my grandfather had founded 18 miles outside of Durban , South Africa , in the middle of the sugar plantations. We were deep in the country and had no neighbors, so my two sis ters and I would always look forward to going to town to visit friends or go to the movies.

One day, my father asked me to drive him to town for an all-day conference, and I jumped at the chance.Since I was going to town, my mother gave me a list of groceries she needed and, since I had all day in town, my father ask me to take care of several pending chores, such as getting the car serviced. When I dropped my father off that morning, he said, ' I will meet you here at 5:00 p.m., and we will go home together.'

After hurriedly completing my chores, I went straight to the nearest movie theatre. I got so engrossed in a John Wayne double-feature that I forgot the time. It was 5:30 before I remembered. By the time I ran to the garage and got the car and hurried to where my father was waiting for me, it was almost 6:00.

He anxiously asked me, ' Why were you late? ' I was so ashamed of telling him I was watching a John Wayne western movie that I said, ' The car wasn't ready, so I had to wait, not realizing that he had already called the garage. When he caught me in the lie, he said: 'There' s something wrong in the way I brought you up that didn' t give you the confidence to tell me the truth. In order to figure out where I went wrong with you, I'm going to walk home 18 miles and think about it. '

So, dressed in his suit and dress shoes, he began to walk home in the dark on mostly unpaved, unlit roads. I couldn't leave him, so for five-and-a-half hours I drove behind him, watching my father go through this agony for a stupid lie that I uttered. I decided then and there that I was never going to lie again.

I often think about that episode and wonder, if he had punished me the way we punish our children, whether I would have learned a lesson at all. I don't think so. I would have suffered the punishment and gone on doing the same thing. But this single non-violent action was so powerful that it is still as if it happened yesterday. That is the power of non-violence."

Tuesday, February 1, 2011

NIFTY DIRECTION

I believe Feb. 08, 2011 will be the crucial date.

A meeting has been fixed between Govt. and Opposition to discuss the upcoming Budget session. Result of this meeting will decide the future course of the Markets.

If Govt. refuses to accept the Oppn. demand for JPC and opposition decides to continue with the blockade of the Parliamentary session. Stability / continuation of this Govt. will in question and we can see sharp fall.

Govt blinks and accepts the demand for JPC we can see an upmove from here onwards. 



Happy trading !
RainMaker