Mostly the posts are on Nifty behaviour based on Elliott wave principles and some technical indicators mostly the macd(Moving average convergence & divergence)and the tech & Pivot table for trading levels.

A. Elliott wave: Read the simple presentation and a small free tutorial given in "Elliott wave" link under the title "Education-TA/ EW" at the right bottom of my blog.You can learn Elliott waves from "Elliott waves lives on" - Tony's blog from my blog list. He has given very simple presentation. Once you start liking it, then go for "Elliott wave Principle" by Prechter & Frost.

B. Technical Analysis: Read the various studies given in "Swing trade charts", "StockCharts", "Icharts" links under the title "Education-TA/ EW" at the right bottom of my blog.

No:1.
Sector study: Watch everyday either at Bse or Nse for the sectoral index gainer/ losers that tells you of the outperforming sector.This helps to focus on a good stock in that sector to play to get higher returns.
There is also a rotational play among sectors during an uptrend. By keeping a simple watch on the sectoral indices(Bse has more detailed sectoral indices) during mkt hours , our focus remains centered in the thick of the action.

Market Internals: If during an uptrend, one sector starts to turn down/ signal a downtrend...that is internal weakness for you. And it helps to have a cautious approach to the overall market.

Stock to Buy: I use a combination of the following...In an uptrend, after an "abc" correction and during a downtrend, after a 5 wave completion or after a larger "ABC" completion...EW.

2-Day swing reversal..i.e. when the stock goes above two day high, coupled with closing above 5 ema or Dma. Also the macd turning up & triggering the 9 sma line coupled with the stochastics turning up from the bottom.

Best trades are effected after a good positive divergences. Same goes for Negative divergences too. You need to have the patience & calmness of mind to wait for that opportunity and grab it promptly without confusing our mind with the conflicting thoughts that go through after a devastating decline or an euphoric rise. An analogy here would be like the person going for a fishing trip..

Any further upsides left: Except for a "V" shape reversal, other reversals have topping out patterns(Head & Shoulder, double & triple bottoms, candle reversals like evening star, gravestone doji, etc) with negative divergences in larger time scale like weekly.Until that happens, one can book partial profits with daily topping outs and reenter to ride the upmoves till the weekly reversals.

More time you expose yourself to market actions and your willingness & honesty to evaluate your own trading reasons and adapting & changing your approach as it deemed fit with changing situations will eventually make you a better trader because of your level of consciousness improving with more exposure.

A sportsman/woman does not take the sport seriously but plays it with full dedication & application inside the field and gets back to normalcy once the game is over. But a trader keeps on hanging on to that experience for many days even after a new trading day commences.This clouds his/her judgement as well as focus.So develop that sporting attitude.

There is always some uncertainity in trading/ investments but a disciplined and some methodical approach will eliminate a lot of that guesswork. This way, you will come a winner 80% of the time.

Keep studying. applying what you study and raise the level of consciouness to feel "what the mkt is doing" during trading hours.

I will leave you with a blog which I found interesting cos she seems to be applying what she has learnt to good use.
http://www.chartreader.co.in/


No:2.

How to read the Tech & Pivot Table: As you observe the 5day High ema and 5 day low ema, you will observe that when the market is trying to reverse while trading below 5 day low ema, it will first attempt to close above that low ema and then it will attempt the 5 high ema. Once closes above the high ema, the momentum picks up and it will make new highs and stay above this 5 high ema. Once it becomes overbought, it will not be able to continue to make much highs, thereby starts loosing momentum which will reflect in closing below high ema. Depending on the weakness, it will test the low ema.These emas are to be used in conjunction with other technical tools, etc. It gives you an idea of the internal strength or weakness or momentum (up / down) of the market..

As you study it daily, you will find a pattern.

Most Important:-As long as Nifty closes above 5-Ema (That appears just after the close in my table), it is in uptrend & vice versa. At times it gives whipsaws too. Combine all time frames & trade.

Stochastics will indicate overbought above 80 mark.It can stay above 70 in most bullish times.And below 20-30 in most bearish times. Once they reach the top or bottom, expect the macd to turn down or up, followed by Nifty closing below or above the emas..

I try to stay long above 5-ema and short below 5-ema with due consideration to "OB" & "OS" and +ve & -ve readings. That is how simple you can filter it down & play without much complexity.

Whenever a 2 day low or high is broken, the colour changes for the highs/ lows to alert us for a swing trade.

For daily trading, keep the pivot point along with the s1,s2 & R1 , R2.
Combine this with daily Pivot & S & R and "ORB(Opening Range Breakout), you will do well.

No:3.

Market teaches you so much. So keep in touch by doing positional trading and some investing & disinvesting based on "Divergence Play" - one of the most potent way of earning big. A recent example(March.2009) is of the persistent +ve divergences in so many stocks & indices and our mkts refusing to go down in line with world mkts was an indication that weaker hands are in the "Shorts"..So going long and staying invested would have fetched an instant success. Patience....to wait for those opportunities...belief/faith in acting on those observations is the simplest approach.

Let me say this...Get rich slowly and.....quietly.

For excitement, go to a movie in suburban theatres or to a bar or simply walk thru..a crowded mkt place.
With money, play seriously but effortlessly...It is in the mind..Keep it alert to the subtle changes that are developing in the mkt..All the noises should only make you wary of the source...that is the weak hands. Strong money never makes noise but you can detect them in the prices v/s volume & oscillators.


No:4.

Smart traders are those who will patiently wait to initiate the high-probability trade instead of compulsively trade all the time. Market gives you some very perfect trades, if only you are patient.

If you are a disciplined trader and your systems are good, why the low success rate? Ask your self..Are you not following it diligently or letting your emotions/ heresay/ media news, etc to change your views.

Let me give you some tips.
1.Trade the positive divergences to go long in the market. Sometimes it can fail too. And sometimes it may take a while before prices may start to move up. So you can't rush into buy the moment you see a +ve div. Wait for the price to move above 5 day ema/ average.
2. Trade the negative divergences to go short..The rest is same as above.
3.When weekly is down and the daily is turning down from the top(Like the stochastics, macd), sell. But reduce your selling positions once the daily becomes oversold and start to show +ve div..like our mkts now.
4.Play Nifty futures more than the stock futures. And play less of options unless you are sure of the direction and also only in a trending mkt.

These are some of the replies to reader quieries that I am posting here for the benefit of all.