This is for Friday December 5, 2008

NIFTY & SENSEX: Bullish TRIN but remember so overbought at 0.16, which means its height of buying, the market is saturated with long positions. So profit booking booking cannot be ruled out anytime. All indicators are bulish for both sensex and Nifty.

SENSEX: Ystday power looked so bearish but it shot up by 4% ha ha so remember those who take my predictions at face value may lose. I guess that news in power that came out was believed to have a negative impact on market participants but the other news acted as a buffer of sorts and put paid to the negative sentiments to power.. Let me check today.ALl indicators are bullish and naturally so coz we had a such a big rally.

But remember the TRIN is overbought at 0.16... of course i have seen TRINS of 0.01 too...but remember such overbought TRINs would mean profit booking when the rally is sufficiently good... So a 300 point rally may induce a sell off...so should we sell 3000 calls?

Also is it wise to short AUTO HC both look bearish

HC = health care

In view of GM going bankrupt and an overbought TRIN would the first sell off happen in Auto???.

DOWJONES : Dow jones very bullish. The NYSE TRIN is overbought at 0.2 although they sold off. This is very bullish and these guys are not going to book profit until the makret climbs up. LOL. The ELDER RAY is very bullish inspite of the fall. The MACD histo has ticked down but histo is related to price so one cannot red much in that. The ADX infact has climbed by few points but until the +DI crosses over the -DI we cannot say its bullish. Ystday both -DI and +DI dropped so u see there is nothing significantly bearish about the ADX movement ystday.


I have been wrong 50% of the times those who take my views at face value may see an erosion in their bank balance. I am not responsible for any of those karmas.