Mumbai Blasts - i am sad and angry

"they can spend crores of rupees for kasab's security bt not for the citizens ..sad really sad." 

These lines are from a facebook post of one of my friends, which is so very true............. Just think about the numerous families which have lost their loved ones yesterday and all we can do is feel SAD, BLAME THE GOVT., but how many can really even shell out Rs 100 for providing some support. We cannot be there in their time of sorrow, we cannot console them. But i am sure there is some way we can contribute to help them. Looking forward to your suggestions and stop thinking about your effort small or big, it is the action which counts.

Technical Views - Equities 14th July 2011

NIFTY
TREND : Instead of consolidating NIFTY has corrected the fall and closed at a crucial resistance level. With the Mumbai blasts last night everybody is expecting a fall, but technically i would suggest my readers, followers to avoid trading in the first 30 - 60 mins. Though i feel the news has already been discounted but the first trading might be volatile. Avoid it. Wait for the signals after this period of 30 - 60 mins and then trade. For today the support is at 5560 and resistance at 5610.   

SIGNAL : use buy and sell signals of TDI BS

BANKNIFTY
TREND : For today the support is at 11080 and resistance at 11200. Similar to nifty do not trade for the first 30-60 mins and then take the signals as they come   

SIGNAL : use buy and sell signals of TDI BS

CESC
TREND : No sell side opportunities yesterady. But we remain bearish on CESC and will short CESC on sell signals today again

SIGNAL : use only sell signals of TDI BS

 

 

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SPECIAL NOTES
WHAT IS A BUY OR SELL SIGNAL WHICH WE KEEP MENTIONING IN OUR DAILY TECHNICAL VIEWS ?
We at TDI have created a proprietary logic based on technical analysis which generates buy and sell signals on Intraday charts. We call this logic as TDI BS aka TOPDATAINDIA BUY AND SELL. So when i say "Go Long only on Buy Signals we mean to say, When on an intraday chart a Buy signal appears based on TDI BS. We should take a long position in the scrip/future/commodity we have mentioned.
Why am i giving this reason today after a couple of months. I received lot of calls/chat messages mentioning that my GTL call went wrong. That's the time i realized that i have given views but haven't made an effort to educate people on the trading style which i follow. Infact i got a negative remark on my yesterday's heading GO LONG ON BUY SIGNALS ONLY.
Thus i will be covering this portion in all my blogs so that new readers are not mistaken and make losses in a scrip while at the same time we never entered a trade in the same.

Happy Trading, please email me on info@topdataindia.com incase u have the slightest doubts. Your feedback will and can make this blog really useful. And also if you like it please ask your friends to join too.