No updates for a few days!

My main PC has suffered a serious hard disk crash. Until I get re-organised, I'm afraid I won't be able to update the blog. Sincere apologies.

FTSE Outlook for 17th August 2009

Figure 1 Long-term FTSE Chart

Figure 2 Close-up of same chart

Instead of the usual Gann Grid type chart, I present two simple bar chart views of FTSE. Take a look at the upper trend line. On Friday, FTSE managed to close below this trend line. I think we should feel a little uneasy with this development. Perhaps I am wrong and FTSE will carry on upwards. But what if the down close was a sign.....?

Projected High: 4,752.0752 (38.1050 points)
Projected Low: 4,661.3950 (52.5752 points)

Bullish above 4,725
Bearish below 4,701

NIFTY Outlook for 17th August 2009

There is no real change to the outlook for NIFTY. The yellow highlighted spot continues to be an area of concern. The mid-point to the timing line occurs on the 19th of August 2009. That could be a day to look out for unless things begin to move a bit sooner.

Projected High: 4,608.3745 (10.6245 points)
Projected Low: 4,548.7246 (49.0254 points)

Bullish above 4,614
Bearish below 4,581

FTSE Outlook for 14th August 2009

With FTSE closing above the 270° line, the case could be made for a continuing bullish outlook. I'd say, the index will probably attempt to cover the ground between here and the 360°. Do the bears have a chance - I think only if they force some serious selling around the present level.

Projected High: 4,809.3301 (53.8701 points)
Projected Low: 4,736.1099 (19.3501 points)

Bullish above 4,767
Bearish below 4,743

NIFTY Outlook for 14th August 2009

NIFTY put on a heck of a rally on Thursday. What happens next? Keep an eye on the highlighted yellow spot on the chart. That area could potentially repel NIFTY and force further falls.

Projected High: 4,687.3750 (82.3750 points)
Projected Low: 4,531.7749 (73.2251 points)

Bullish above 4,636
Bearish below 4,573

FTSE Outlook for 13th August 2009

A frustrating day for the bears! Just when it looked like the bears were beginning to steer the ship their way, FTSE goes and mounts a strong rally! But will this fight-back last? I have my doubts. The bears will be back pretty soon and the indices will continue their downward journey.

Projected High: 4,765.0791 (48.3193 points)
Projected Low: 4,674.2295 (42.5303 points)

Bullish above 4,728
Bearish below 4,704

NIFTY Outlook for 13th August 2009

After a pretty good fall, NIFTY recovered very strongly. The bounce took place off the green diagonal line in th 2nd square of the grid (counting downwards). This tends to happen frequently. Big question now - will the downtrend continue or are we in for some more tests to the upside? In my opinion, we are not done with the falls.

Projected High: 4,465.6499 (8.1499 points)
Projected Low: 4,351.2500 (106.2500 points)

Bullish above 4,488
Bearish below 4,426

FTSE Outlook for 12th August 2009

The timing line proved to be of value as demonstrated by Tuesday's drop on the FTSE. Hopefully, this will now develop into a pullback lasting several days (and beyond!).

As for Wednesday, I think a bit of a bounce followed by some more fall is the most likely scenario. No doubt, the bears will be stirring and may be tempted to mount a full-fledged attack soon.

Projected High: 4,707.7241 (36.3843 points)
Projected Low: 4,621.3940 (49.9458 points)

Bullish above 4,683
Bearish below 4,659

NIFTY Outlook for 12th August 2009

Regrettably, I've had problems downloading data for Tuesday's NIFTY. As such, I am unable to complete the analysis and put up a chart. Hopefully, the problem will be resolved by the next update.

FTSE Outlook for 11th August 2009

At one point, it looked like FTSE would shed serious points today. It didn't. But we ended up with a "Hanging Man" candlestick right at the timing line (open to correction re. the candlestick). This could be the signal of bearish times to come.

Projected High: 4,726.8804 (4.6802 points)
Projected Low: 4,684.0903 (38.1099 points)

Bullish above 4,734
Bearish below 4,710

NIFTY Outlook for 11th August 2009

I find it interesting that NIFTY seems so determined to march down while the Western markets don't quite want to go down yet. That being said, I think NIFTY is on target to meet the 180° line though I wouldn't be surprised to see it attempt a rally of sorts in between.

Projected High: 4,500.0757 (62.4258 points)
Projected Low: 4,337.4258 (100.2241 points)

Bullish above 4,462
Bearish below 4,413

FTSE Outlook for 10th August 2009

Chart 1 - Long term trend lines

Chart 2 - FTSE as viewed with the Gann Grid

Two charts are presented for FTSE this time. Chart 1 shows an interesting pair of long-term trend lines. The lower line has clearly acted as resistance with about three touches. Note that this upper line is parallel to the lower trend line. The upper line is yet to be tested and we may be on the verge of seeing that test. If the test is successful, FTSE is going to head down. On the other hand if the index rips upwards, there will be a long distance to go. Chart 2 is the usual grid chart and shows we are one day away from the timing line. Exciting times await us!

Projected High: 4,793.3203 (61.7603 points)
Projected Low: 4,681.8604 (49.6997 points)

Bullish above 4,746
Bearish below 4,716

NIFTY Outlook for 10th August 2009

On Friday, NIFTY fell fairly significantly. Western markets did not follow suit and instead put on a rise. However, I have a feeling of unease about the markets now. We're either going to go ripping upwards and not look back for a while or we could head down towards the centre of the earth! Okay, being a bit dramatic there! But there's no denying there's something creepy about the markets at this point. Let's see what Monday and the rest of the week brings.

Projected High: 4,536.6494 (55.2495 points)
Projected Low: 4,408.6997 (72.7002 points)

Bullish above 4,505
Bearish below 4,456

FTSE Outlook for 7th August 2009

FTSE hit the 270° line target of 4725. It's a bit early as we're two trading days away from the timing line. Further comments are in-chart.

Projected High: 4,751.2803 (60.7505 points)
Projected Low: 4,668.8301 (21.6997 points)

Bullish above 4,703
Bearish below 4,677

NIFTY Outlook for 7th August 2009

Has NIFTY chickened out by dropping before reaching the target at the 360° line? Or is it going to surprise us by putting on a big rally on Friday? I guess we can only watch while NIFTY makes up its mind.

Projected High: 4,651.8252 (66.3252 points)
Projected Low: 4,492.8755 (92.6245 points)

Bullish above 4,609
Bearish below 4,561

FTSE Outlook for 6th August 2009

FTSE too seemingly has an appointment with the bears on the 10th of August. Perhaps I am overstating the case. But in any case, thanks to a timing line that falls on that date, I least expect a reaction. We have not yet reached the 270° target of 4725. Who knows, the price and time target may both materialise at the same time!

Projected High: 4,671.8848 (24.7549 points)
Projected Low: 4,605.8745 (41.2554 points)

Bullish above 4,659
Bearish below 4,634

NIFTY Outlook for 6th August 2009

10th of August 2009. That's where the nearest timing line on this grid for NIFTY is. We're still a few points away from the 360° target of 4750. Will we get there in time and on schedule? Let's leave it to the market to put on a show for us.

Projected High: 4,749.3501 (55.2002 points)
Projected Low: 4,662.0000 (32.1499 points)

Bullish above 4,718
Bearish below 4,669

FTSE & NIFTY Outlook

Folks, I'm taking a day's break today. The next update will take place in time for Thursday's market.

FTSE Outlook for 4th August 2009

FTSE marches on! I could be wrong and this is probably personal bias, it feels like it is headed for the slaughter house. The 270° level of 4725 is so close as is the timing line that a sense of the inevitable is unavoidable. Is that just me or will it become fact? The next day or two should reveal all.

Projected High: 4,753.6699 (71.2100 points)
Projected Low: 4,639.0200 (43.4399 points)

Bullish above 4,695.2783
Bearish below 4,669.6416

NIFTY Outlook for 4th August 2009

Not much to say about NIFTY today except that it is clearly headed for the 360° line.

Projected High: 4,770.5752 (59.1753 points)
Projected Low: 4,664.5752 (46.8247 points)

Bullish above 4,731
Bearish below 4,691

FTSE Outlook for 3rd August 2009

EDIT: On the chart, please read "Resistance at 4340" as "Resistance at 4640" Apologies for the error.

At first, FTSE's amazing ride up probably baffled a good many traders. If you don't hop on for the ride at the right time, you pretty much miss the ride especially when there's hardly a pullback. But is FTSE close to being forced to take a breather or even a correction? The possibility is rather high seeing that we are right at resistance. If it blasts through, it might head for the 270° line. If not, the bears may finally go on a rampage.

Projected High: 4,626.9302 (18.5703 points)
Projected Low: 4,581.1504 (27.2095 points)

Bullish above 4,621
Bearish below 4,595

NIFTY Outlook for 3rd August 2009

NIFTY managed to put in yet another day of rise on Friday. However, there is danger on two fronts. Firstly, there's potential resistance at 4693 and if that's not enough, the next hurdle will be at the 360° line at4750. Will NIFTY hit turbulence at either of those levels and choose to head down or will it ignore the dangers and carry on even higher? The next 2-3 days promise to be very interesting.

Projected High: 4,702.1753 (65.7251 points)
Projected Low: 4,604.0254 (32.4248 points)

Bullish above 4,655
Bearish below 4,617