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Monday, November 7, 2011
Well, Diwali is over and in Muhurat trading on Diwali day (26 Oct 2011), NIFTY opened Higher with GAP up but closed around the low of the day. To me, that is sign of weakness, at least for Indian markets. It might be well worth for you to have a look at the history of NIFTY on Muhurat trading day!
Yes, NIFTY Future has been strong thereafter and gave us a new HIGH on 28th Oct at 5402, but quickly filled the GAP created on 5th Aug (downside) and 28th Oct (upside). Trend has turned up on 1 day, 2 day and 3 day Swing charts, but we still need to wait for a higher bottom on weekly charts for the trend to turn up. All these show some strength, and give indication that we might on the verge of a break out on the upside. I have my own doubts! WHERE ARE THE VOLUMES??? It might be a false break out.
While it is very difficult to predict where NIFTY is headed, I am watching out for couple of important dates this month. And most important one, 8th November 2011 (or may be 9th Nov). One of these 2 dates, should hopefully clear the confusion.
I have worked out this date using GANN's techniques. According to GANN, the markets (especially indices) move in certain pattern and there are vibrations observed around certain dates every year. He gives 10 dates a year (based on astronomical movement of planets) and I have proved it to my satisfaction that these dates DO WORK, with a deviation of +/- 2 days. There is reason for these deviations as well which I will not go into details here.
If we look at the dates of various HIGH and LOW made in last 12 months, the date of 8th November is:
1. One of the 10 seasonal date changes that GANN mentioned in his work.
2. 360 degrees away from 5 Nov 2010 High (actual date is 6th Nov but it's Sunday and 7th is a holiday)
3. 240 degrees away from 4 Mar 2011 High (actual date is 6th Nov but it's Sunday and 7th is a holiday)
4. 196 and 294 calendar days away from 25th April and 17th Jan 2011 respectively. These are 2 and 3 multiples of 98 calendar days. If you look at the number of days run between some Tops and Bottoms, it is 98 days. Do check 5Nov2010 to 11Feb2011 and 6Mar2009 to 12Jun2009, as quick references. There are many more such examples. (actual date is 7th Nov but it's a holiday)
5. 45 degrees from 21st Sep HIGH
6. 60 degrees from 8th Sep HIGH,
7. 90 degrees from 9th Aug LOW,
8. 120 degrees from 8th July HIGH and
9. 180 degrees (one half of a cycle or circle) from 5 May 2011 LOW.
10. 49 calendar days (one half of 98 day cycle) from 21st Sep HIGH
I have many more important dates in NIFTY history which gives us the 8th Nov 2011 as a significant date to watch for a change in trend.
One may ask what the change will be, I believe since the trend is up since 4th October, it is obvious which way I expect it to go. But let's wait for a confirmation, before going short!!
The other 2 important dates to watch for in November are 14/15 and 25.
Happy trading!
Yes, NIFTY Future has been strong thereafter and gave us a new HIGH on 28th Oct at 5402, but quickly filled the GAP created on 5th Aug (downside) and 28th Oct (upside). Trend has turned up on 1 day, 2 day and 3 day Swing charts, but we still need to wait for a higher bottom on weekly charts for the trend to turn up. All these show some strength, and give indication that we might on the verge of a break out on the upside. I have my own doubts! WHERE ARE THE VOLUMES??? It might be a false break out.
While it is very difficult to predict where NIFTY is headed, I am watching out for couple of important dates this month. And most important one, 8th November 2011 (or may be 9th Nov). One of these 2 dates, should hopefully clear the confusion.
I have worked out this date using GANN's techniques. According to GANN, the markets (especially indices) move in certain pattern and there are vibrations observed around certain dates every year. He gives 10 dates a year (based on astronomical movement of planets) and I have proved it to my satisfaction that these dates DO WORK, with a deviation of +/- 2 days. There is reason for these deviations as well which I will not go into details here.
If we look at the dates of various HIGH and LOW made in last 12 months, the date of 8th November is:
1. One of the 10 seasonal date changes that GANN mentioned in his work.
2. 360 degrees away from 5 Nov 2010 High (actual date is 6th Nov but it's Sunday and 7th is a holiday)
3. 240 degrees away from 4 Mar 2011 High (actual date is 6th Nov but it's Sunday and 7th is a holiday)
4. 196 and 294 calendar days away from 25th April and 17th Jan 2011 respectively. These are 2 and 3 multiples of 98 calendar days. If you look at the number of days run between some Tops and Bottoms, it is 98 days. Do check 5Nov2010 to 11Feb2011 and 6Mar2009 to 12Jun2009, as quick references. There are many more such examples. (actual date is 7th Nov but it's a holiday)
5. 45 degrees from 21st Sep HIGH
6. 60 degrees from 8th Sep HIGH,
7. 90 degrees from 9th Aug LOW,
8. 120 degrees from 8th July HIGH and
9. 180 degrees (one half of a cycle or circle) from 5 May 2011 LOW.
10. 49 calendar days (one half of 98 day cycle) from 21st Sep HIGH
I have many more important dates in NIFTY history which gives us the 8th Nov 2011 as a significant date to watch for a change in trend.
One may ask what the change will be, I believe since the trend is up since 4th October, it is obvious which way I expect it to go. But let's wait for a confirmation, before going short!!
The other 2 important dates to watch for in November are 14/15 and 25.
Happy trading!
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