Anirudh Sethi Report

Last week ,The epicenter of many of  questions seems to be southern Europe, where Greece, Portugal, Spain and to a lesser extent the remainder of the so-called PIIGS (Portugal, Italy, Ireland, Greece and Spain) have flamed investor concerns that burgeoning public debt may significantly weaken investor demand for sovereign debt and exacerbate an already trouble budgetary crisis.

Many investors have taken to selling the euro is as a means by which to reduce exposure to these problem areas and/or speculate on one or more of these crises spiraling out of control.

-Just look at above chart :Weekly chart includes a powerful rally of Year 2009 and more recently and two-stage selloff, starting in the first half of December and picking up steam over the course of the past 3 ½ weeks as traders looked to capitalize on weakness stemming from the problems in Greece, Portugal and Spain.

Just watch 136 level.Three consecutive close below this level+ Weekly close will take to 131.70-130 level.

-If not breaks 136 & trades above 138 level will create buying upto 140-141 level.

-Best Strategy :Sell on Rise.

-Will update more very soon.

Updated at 13:10/8th Feb/Baroda

“So far in 2009, what are the  the most important thing I had  learned about investing, trading, and/or the markets?”

• Success takes longer than expected

• That you must learn to trade and trust yourself and not to become so dependent on the opinions of others, which ultimately keeps you from becoming the best you can be
• Keep it simple
• The very best profit opportunities occur in the midst of extreme emotional sentiment
• Always think opportunistic verses too bullish or bearish
• Persistence and dedication to a daily routine is key
• Developing an edge is the first step for trading successfully. Without that, disciplined trading will only make sure you gradually losing money
• The market is one unforgiving bitch!
• It is challenging to find non-correlated markets
• You have to respect the market even if you think it is under some kind of manipulation
• Keep your eyes open and powder dry
• If you fall in love with a stock keep 100 shares and let the rest go
• I’ve learned to be patient in waiting for my patterns to appear
• The value of ETFs
• The importance of finding special situations that will be profitable no matter what the market does
• Stay away from light volume when the only thing trading is the black boxes
• The importance of focusing only on one technical setup in order to improve one’s skill set
• I now think that buy and hold is a serious mistake
• Think big and think long term
• Don’t try to predict the markets
• Don’t be afraid in bear markets, just another opportunity
• The odds are stacked against the retail investor
• There’s no such thing as a sure thing
• The harder I work at it the more likely I am to succeed
• Conserving one’s capital is vital
• I know the rules – I just need to notch-up my discipline
• Smaller entry positions can be helpful
• Opportunities are everywhere
• The market is primarily psychologically driven
• Trade with the trend instead of trying to pick tops and bottoms
• Know where and when to get out before you get in
• As Johny Cash put it “You got to walk that lonesome valley, you got walk it by yourself. Nobody else can walk it for you. You got to walk it by yourself.”
• The difficulty of avoiding over-optimization/curve fitting
• Overtrading can be, and often is, a recipe for disaster
• To breathe before executing a trade
• Trading is not a profession for pessimists
• Never feel confident even when winning. Humility is a good thing
• You need to be quick and brutal with the trading decisions
• It is okay to sit out a potential move – risk management over reward chasing
• Don’t bet the farm in either direction
• There is no consistent logic to trading the market
• Some trades need to be taken when they appear, not just when you are ready
• There’s no rule that quality stocks must go up
• Don’t chase any overbought stocks
• When a sector (like financials) look so hopeless as it did in March there is potential to make a lot of money if things turn around even just a little
• Hope is a four-letter word and has no place in a trading strategy
• Patience. It is ok to sit out once in awhile
• Wait until you have an proven strategy supported by data before trading for keeps

• Anything can happen. Trading is all about probabilities

• Technically Yours-ANIRUDH SETHI ,BARODA ,INDIA

 

Any Rise should be considered as DEAD CAT BOUNCE only.

*Already Broken neckline of H&S ,It may spurt to kiss that line around 4180-4200 level….But our Mantra is Sell Sell sell only.

Today 3DEMA is at 4111 level ,So first it will have to cross this level with volumes and if crosses then watch Hurdle at 4145–4173 level.

Support exist at 4048 ,Break will take to 4033-4028 level.

Already writing from last 3 days :Two consecutive close or weekly close below 4023 will create Bloodbath in Market.

Updation Time :7:20 PM IST

What to expect on Budget Session …Let’s see what chart says ?

Today will face hurdle at 4447–4463 level.

Now if crosses 4463 with volumes and stays above this level for 5-10 minutes then watch nonstop rally upto 4566–4600 level in hrs only.

Just watch Rising Wedge and look already completed Left Shoulder and Head and now trying to form Right Shoulder.

Support at 4381 ,4357.

Join us to get more Details !!!

Yesterday we had mentioned that crucial support was at 4265.It kissed low of 4276 and taken sharp reversal.

Today :What to expect ?

Hurdles are same :4357-4396-4409 level.

Support :If breaks 4334 will take to 4301-4275–4267 level.

LAXMAN REKHA for NIFTY FUTURE :4463.If crosses /closes above this level then will see 4566-4600 level.

Last close :4338

Yesterday we thought below 4283 it will slide upto 4228-4210.But it kissed low of 4240 & taken sharp U -turn upto 4366…our Hurdle for day was 4366……Only chart will work and will show power…Nothing else.

Now ,what to expect in Today session ??

Above 4357 if trades with volumes will take Nifty Future upto 4396–4409 level.

(Falling  & Rising Trend line intersection points are at 4424 & 4448)

Remember Laxman Rekha still at 4463.

Support 4304-4296—–then watch panic upto 4265.

Last close 4390.

Yesterday as expected it zoomed upto 4326 & kissed 4447.Our Laxman Rekha was at 4463 level.Now ,What to expect Today ?

Support exist at 4374—4356.Hurdles for Bulls :4429–4463.Don’t remain short once NF crosses 4463 level.

Suppose breaks 4356 with volumes then nonstop slide upto 4301 not ruled out.

Last close $ 69.16

August crude oil closed lower due to profit taking on Friday and the low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turned neutral hinting that a short-term low might be in or is near. Closes above last Friday’s high crossing at 72.85 are needed to confirm that a short-term low has been posted. If August renews this week’s decline, the 38% retracement level of this spring’s rally crossing at 62.25 is the next downside target. First resistance is today’s high crossing at 71.29. Second resistance is last Friday’s high crossing at 72.85. First support is Tuesday’s low crossing at 66.37. Second and final support at $ 64.25.Break and close below this level will create panic.

Last close :14764

For Today’s trading Sensex will face hurdle at 14808.Once crosses this level it will zoom upto 14907.The level of 14907 is last hurdle.Crossover will take to 15204–15303.

Support exist at 14568-14539

Last close 4384.

*Positive Divergence in RSI ,Above 4326…No worry for Bulls at all.

Now it looks Nifty Future will kiss 4429–4463 level in this move.Suppose crosses 4463 with volumes then nonstop rally upto 4566–4600.

Support 3&7DEMA :4326.