Hello pradesh,
Perhaps you will be surprised to know that HLN and me are old friends. I know him from the time he predicted nifty 3600 last year. At that time, he used to be laughed and scoffed at and I used to be the one who used to discuss it out on yahoo messenger with him. At that time, he was the joke of this board and he was a lonely man.And I was and still am a very good friend of the biggest bull on this board - Mr.Joetom. So I became friendly with Mr. Hindlevernet - the biggest bear of this board. And these two people provided me with valuable insights into the functioning of a bull and a bear and I then came to know how strongly they influence the markets. I used to study their gameplans etc etc very carefully.
Perhaps, you will not believe, but I still believe in what HLN says that nifty will see 3600, I started believing this from the 23rd of january 2008 after the huge crash. Then I started interacting with him a lot. His levels used to be good but unfortunately his timings were all wrong. And we future and options traders have a big disadvantage against us which is the time factor as you know. So after following him a couple of times I lost nicely in my puts in April and stopped following him totally and then started to use my gut feeling. Now after having indepth knowledge of the charts with the help on an online friend who had the patience to teach me charts for 23 days , everyday for four hours in the evening, I have become very confident in my trades and know the exact levels of entry and exits.
So,I became a little sceptical of Mr. HLN after april and also used to criticize him a lot when he went wrong. I know he deleted a few of my messages but thats a different story. But on a personal front, whatever I Know of him, he is a gentleman who is polite and knows what he is doing. Only thing is he goes drastically wrong in his timings. But these markets are so unpredictable, anyone can easily go wrong. I dont hold hard feelings against him though. Hence, I was not surprised to recieve five starts for two of my messages because I know he respects good technical analysis just as much as I do. If I find a good post, I too give ratings of five stars. Thats the way it should be. One should be open to criticism and praise at the same time. I hope this message clarifies any differences I hold with Mr. HLN.
regards
lovemeall26...

Hello DU sir,
Its such a pleasure to meet you here after so long. One thing we share in common is that both of us are bare-bone FnO traders. I also do options but in less quantity. But delivery, I only do it in sugar stocks.
Its sad that you do not follow the nifty. Now, here comes the difference between us. I do not follow the sensex - lol. In fact, for many days, I do not even know what sensex levels opened at and closed at. But nifty, I remember quite a bit of numbers by heart. I personally feel ,the nifty futures gives the exact level of sentiments and technical levels of this market. For instance, a premium on the nifty shows its bullishness and inversely a discount shows its bearishness. The amount of discount or premium gives me an idea about the extent of the emotional quotient. This is not possible with the sensex. For instance, during bullish phases, nifty trades at premiums above 30 rupees and last time we were around 3800 levels, it was trading in huge discounts of rs. 50 and above. I hope you get my point. I will suggest you to follow the nifty like a hawk , which will improve your trading skills greatly, although I know you are pretty adept at that. When I see the nifty going up fast, I instantly go long on my future lots and the nifty pulls up other stocks along with it.
This analysis I did of the nifty making the head and shoulders is more or less in its final stages of formation. If we do not cross 4650 this time and start going down again from there and when we break 4220-4240, this pattern gets final confirmation - please note. Otherwise, there is no guarantee that this head and shoulders will definately play out its bearish note.
I am sure you must have understood. There is no need to thank me for sharing my thoughts. I have learnt much much from this board and am more than happy to give it back what I learnt on my personal front.
regards
lovemeall26...

Hello HLN,
After a long time I will agree with you that our markets do not look so rosy at present. Today being an off day,I deeply studied my charts and came to the conclusion that our beloved nifty is slowly forming a head and shoulders pattern.
The left shoulder was formed at 4539 , the head at 4650 and the right shoulder was formed on tuesday at 4522 with the neckline being at 4205. Now this neckline on being extended shows a neckline support at 4220 which if broken will play out the head and shoulders pattern to the hilt. In laymans terms, this is a very bearish signal on the charts. Adding further fuel to this theory is the fact that there is greater volumes on the left shoulder compared to volumes of the head and the right shoulder,hence I now firmly believe that nifty might not be able to see 4650 too. Hence, I shall be starting to go short from 4600 levels itself in case I miss the bus for a huge fall coming up. Dow has also broken important support while touching 11037 levels and asia is making new lows. It looks quite like a mirage that India continues to outperform.
So I will suggest to fellow boarders to play the game accordingly.
lovemeall26...

Hello HLN,
Yes I agree with you that this waiver is really a landmark agreement for India and it will go a long way in solving India\\`s energy needs.
If you will remember, last week on tuesday when we rallied about 550 points on the sensex, that same night I had made a post here on this board wherein I had mentioned that 4650 was coming up on the cards. Thats what my charts were showing then, however, global cues did not fall in line making us sink for the rest of the two days on thursday and friday. Hence,even the immediate charts failed then. However, now the charts will be proved right when we open above 4400 on monday and massive short covering by the bears will take the nifty even higher, maximum to 4500 on monday where the nifty will meet upper trendline resistance. Now seeing us go so high in green, dow will also see short covering on monday followed by europe too. That will provide us with further impetus taking us upto 4625 to 4650 again. Now here, we will meet massive resistance as a triple top will be formed here on the charts. This will be the ideal time to go short and pick up cheap putts with strict stop loss of 4700. Because the emotional aftermath of the NSG outcome may make the nifty break this resistance thus making it further bullish. Remember as per last week, the 100 WMA was at 4570 and moves above this can make the nifty very bullish.
I noticed the names of the stocks which you have mentioned which will outperform,but you have sadly missed out on reliance capital. This stock is showing much resilience as per my charts as it is trading much above its 50 % retracement levels of this immediate rally. Hence, just keep an eye on this one too as it will surely reach 1475 within two or three days.For reliance capital to be available at half its present price at 700 is too far away now and something really drastic in world markets need to happen for it to be available at such dirt cheap prices. However, I am still not putting in my money for long term investments. I know I will get an opportunity this year to get them at rock bottom prices.
lovemeall26...

Hello pkk07,
That leaked letter had nothing new in it when it came out. In fact, if
you had watched the interview of Kapil Sibbal with Karan Thaapar on thursday night on CNBC, you could have seen how confident Kapil was of clinching the deal. There, he clarified that there is nothing new in this leaked letter. This condition of not conducting further nuclear tests was already there in the minutes of the 123 agreement.
After seeing his confidence, I went long on friday at the days lows. Now I will be laughing all the way to the bank when we open gap up on monday and the bears will run to cover their shorts. Lol.
lovemeall26 ...

Hi pkk07,
See I told you in the morning, we have good chances of clinching the deal. So be it.
Finally, SINGH IS KING.
MERA BHARAT MAHAN,
lovemeall26...

Yes radkhikaji,
I agree with you that the TRIN was showning to be in oversold zone and also the slow stochs were giving a buy signal and yet we sank. And now the slow stochs is not giving a buy signal and yet we may surge up - lol.
Also the thought that this market demands tuition fees so many times from us was a good one. I totally agree with you, these days the stock markets have surely become a gambling den, where players enter and exit quickly for a quick buck without paying any attention to investment strategies. Hence, let us also play along and take dips into the running tide. All the best.
lovemeall26...

Hi lovemeal126, thanks for a thourough response to a rather casual post of mine ! Surely hallmark of a good and observant trader !! Yes, I did think of studying NIFTY in depth, but RN's readily available TRIN assistance was preferred for the purpose by lazy ME. These days I'm more into trading on the basis of RSI (Relative Strength Index) and MSI (Market Sentiment Index, coined by me, a combination of Put/Call ratio + individual stock sentiment + trading volumes) and results have been spectacular to say the least. On the basis of RSI (OVERSOLD) I got into ACC + GRASIM + IDBI + ABAN + SBIN + BHEL + Finantech and scored very well in multi-lot futures trading. On the basis of MSI I got into Larsen (bonus) + SesaGoa (bonus/split) + Educomp (sheer OPERATORS' PLAY) and scored equally emphatically. On the basis of OVERSOLD or OVERBOUGHT RSI I take swing positions, whereas exclusively day-trading positions are taken on the basis of MSI. Hope the success trend continues. If ever I need to fall back upon NIFTY bare-bones, I will definitely bother you and/or RN (MD). Regards, DU....

Hallo lovemeall26, so its sometimes hate and many times love relationship..then its really good.. Most important thing about you, i find, is that you have a healthy mind.. Regards...

Hi lovemeall26, Bravo !! u got five stars from whom? HLN!!!! ..You must have heard of a movie Dr Jekyll and Mr Hide.. I somehow remembered that.. any way hit and run is converted into hate and (now) love strategy... Noted your views..Regards...

Very interesting lovemeall26 ! I do lament my ignorance of the "anatomy of the NIFTY being". However, regardless of whatever 'numero-graphic' elements of technical charting facilitate interpreting NIFTY movements, I do find your description very intersting (for a bare-bone FnO trader like me). I hope and wish your conclusions prove accurate too (within permissible limits of course). No slight intended all, and thanks for sharing. Regards, DU....

Very interesting lovemeall26 ! I do lament my ignorance of the "anatomy of the NIFTY being". However, regardless of whatever 'numero-graphic' elements of technical charting facilitate interpreting NIFTY movements, I do find your description very intersting (for a bare-bone FnO trader like me). I hope and wish your conclusions prove accurate too (within permissible limits of course). No slight intended all, and thanks for sharing. Regards, DU....

lovemeall, I agree with you that Nifty may make Head and shoulders formation. It will be confirmed if Nifty does not rise much above 4539. It may end up in DOUBLE TOP FORMATION which is also a strong bearish pattern. I have found that it is not necessary that Nifty should reach its peak on the same day as Dow. Domestic news flow can delay the top by several days or even a few weeks. But once Nifty start crashing, it will fall very sharply as it has to catch falling Dow. To keep its pace with dow, it has to fall rather quickly. Once Nifty forms right shoulder in the region of 4540-4600 or forms Double Top around 4650, it will fall sharply. No doubt about it. The list of stocks given by me which may shoot on Monday is not exhaustive. Many more stocks may be added to that. I have given only a few examples. Thanks...

Hi, I cannot help posting my detailed views about NSG waiver given this afternoon. It is a LANDMARK victory for Indian Foregin Policy. Such moments come once in a generation. This waiver should be treated as a stamp of approval of INDIA RISING. Nothing can stop India from taking its rightful place in the world. Our share in world GDP remained 20-25% for most of the history. But with the arrival of British in 18th century, it kept on falling decade after decade. In 1914 it plunged down to just 1% It is again rising now. With this landmark deal, it is all set to go further. More in next message....