Apologies!

Sincere apologies for the break in the posts! I was pulled away for an unexpected project and am now back at my desk. Regular daily posts will resume for the week commencing 2nd March 2009.

FTSE Outlook for 10th Feb 2009

FTSE is definitely on target to hit the 180 degree line of 4364 and possibly beyond.

NIFTY Outlook for 10th Feb 2009

The first thing I want to draw your attention to is how well NIFTY is following the highlighted channel on this grid. Yes, I've had to re-align the grid since last time and change the Factor as well. But that's what trading is all about - you look for the best way to exploit the tools at hand.

As for now, NIFTY is probably on its way to scaling 2972. On clearing that, it could well reach 3052 which happens to the 180 degree line. But first, there is a small risk of downside that NIFTY may have to contend with on Tuesday.

NIFTY Outlook for 6th Feb 2009

I must admit NIFTY is proving to be a bit difficult to read in the last few days. Hopefully, the situation will improve soon as no market likes to be dull and listless for too long! For Friday, the best I can guess is that NIFTY will probably put on a rise of some sort.

FTSE Outlook for 6th Feb 2009

Despite falling by about 100 points at one stage, FTSE managed to put in a fine recovery on Thursday. I believe things are looking up for FTSE and we are likely to see a continued rise.

The chart clearly shows FTSE is pretty much honouring the rising green diagonal. This is strongly suggestive of a rise to the 180 degree line of 4364.5. Should do well on longs tomorrow.

Incidentally, Thursday's trading range is the narrowest of the last seven days. Things could well be explosive on Friday!

NIFTY Outlook for 2nd Feb 2009

Not very much to say about NIFTY except that is looking somewhat bullish. As we approach the timing line (vertical green line), a reversal may occur. More in tomorrow's post.

FTSE Outlook for 2nd Feb 2009

Friday was a very interesting day. The power of pitchforks was on show when FTSE went on to touch the lower line of the blue pitchfork. Simply amazing.

For Monday, it looks like FTSE is at a crossroad. Thanks to a potential Head and Shoulders pattern on the intraday 15-min chart, we could see a fairly huge fall. But then again, a potential bounce off the lower line of the blue pitchfork might see FTSE soaring away high. Oh yes, Monday will be a very interesting day.

Moving on to the EOD chart, FTSE has not been able to maintain its strength above the 180 degree line. The return to levels below the 180 degree line suggests possible bearish action on Monday.