Month: July 2014

WEEKLY NIFTY

On By devadasnayakIn Technical Analysis Of Indian Stock MarketsLeave a comment

Disclaimer : These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.Consult your financial advisor only before you trade.

NIFTY WEEKLY SPOT

Nifty has not closed above the Bearish Engulfing Candle’s high of 7809 on a Weekly basis.So the sideways/ corrective trend continues.So watch this point.Any close above 7809 on weekly basis negates the Bearish Engulfing candle.Also I have marked rough Elliott wave points which is either forming  wave(4) of the lower degree or may have completed wave wave(5) and thus larger Wave 3 .Either way, if the big blue “3” Wave 3 is complete, we may see 4 th wave form.Wait for a week or two so that a clear pattern emerges.

If Nifty is not able to close above 7809 on a Weekly basis, then we may assume Wave 3 as complete and wave 4 forming.If Nifty does not close above 7809 on a weekly basis and if Wave 4 is happening, target of Wave 4 to 38.2 percent i.e 7422 ( low of wave 4) — 7060 (38.2 %) can be expected.

Click on chart

Nifty

 

SRIMAD BHAGVAD GITA — LORD KRISHNA’S OWN WORDS

On By devadasnayakIn Srimad Bhagvad Gita1 Comment

Chapter 3 Karma Yoga

r266

CHAPTER 3,   SHLOKA 37

Click to enlarge

3-37

Here Lord Krishna is called Bhagavan because he is talking from his state of Godhood.Also note that he is saying “It is desire”, “It is anger”, i,e he is not saying desire “and” anger.Because he considers both as same.First the desire arises and if anything obstructs it, it results in anger.So desire and anger are one and the same thing which rise from rajoguna.The more you feed a fire of desire with fuel i,e sense objects in this case , the more craving takes place.Our “smriti” or memory of pleasure wants to enjoy the objects of senses again and again and then anger results which finishes man off.

NIFTY DAILY AND WEEKLY

On By devadasnayakIn Technical Analysis Of Indian Stock MarketsLeave a comment

Disclaimer : These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.Consult your financial advisor only before you trade.

NIFTY SPOT DAILY

Last week I said a close below 7441 will lead to mild bearishness.Nifty broke 7441 level only on an intraday basis and closed above it.So nothing much has changed technically.The Bearish engulfing pattern is still intact and a weekly close above 7809 will negate it.Also mind that correction doesnot mean a straight fall always.It may means a sideways movement ( distribution or consolidation) within a range or a straight fall depending on the situation.

This scenario can be played in two ways. Either sell with 7809 ( close above) stoploss when Nifty nears that level or wait for a close below 7422 on weekly charts.

Click on Chart to Enlarge

Nifty Daily

NIFTY SPOT WEEKLY

Click on Chart to Enlarge

Nifty Weekly

SRIMAD BHAGVAD GITA — LORD KRISHNA’S OWN WORDS

On By devadasnayakIn Srimad Bhagvad GitaLeave a comment

Chapter 3 Karma Yoga

r261

CHAPTER 3,   SHLOKA 34

Click to enlarge

3-34

Everyone is born with “likes” ( Raaga) and “dislikes” (Dvesha) inherent in them.These likes and dislikes are expressed through the sense organs.The eyes like to see beautiful and pleasant things and doesnot want to see unpleasant things, the ears like to hear the melodious sounds, appreciative words about one self and dislike to hear degrading words about oneself, the tongue wants to eat delicious foods etc.Now the adjectives like pleasant sight, melodious music, delicious taste etc differ from one person to another depending on his inherent nature or what is called “Prakriti”.

Now these likes and dislikes are there in every person and it is very hard for him/her to totally do away with it.So Krishna says that one should use the intellect or buddhi which is the discriminating faculty in man to carve out his path as to what is right and what is not.He says that likes and dislikes are just two sides of a coin.Carve out your goal and march ahead.If you have an unpleasant situation “bear it or accept it” but “don’t hate it” and march on with your focus on the goal.If you experience a pleasant situation enjoy it but do not stop by indulging too much in it or else you will lose focus on your Goal.

 Arjuna was a brave Kshatriya whose dharma was to uphold righteousness even at the cost of a war.He had fought wars before the Kurukshetra war.Here he was not frightened of this War but he “disliked” it because his great grandfather, his gurus, teachers, cousins etc were on the other side of the war.He “disliked” (dvesha) killing them. Here he lost the objectivity, that he was fighting against the unrighteous people and not his blood relations.

So Lord Krishna says that raaga and dvesha are like roadside robbers who jump upon us without our awareness.Every human being knows what is right and what is not.But he does not follow the path.Not only does he not follow the path of righteousness but he tries to justify his wrong actions when he is confronted with them.The reason is because of his inherent Prakriti which is “raga” and “devsha”.

SRIMAD BHAGVAD GITA — LORD KRISHNA’S OWN WORDS

On By devadasnayakIn Srimad Bhagvad Gita2 Comments

Chapter 3 Karma Yoga

r260

CHAPTER 3,   SHLOKA 33

Click to enlarge

3-33

This shloka is an explanation to the shloka no 29, where Lord Krishna had said that a wise man should not thrust his ideas on the spiritually ignorant people.The reason being that every being born in this world have traits or tendencies inherent in them.Take for example if you plant a creeper, only a creeper will grow.It will not become a tree and stand erect.If you want to guard your house you have to bring a dog because the inherent trait of dog is to guard a house.You can’t bring a lion to guard your house though a lion may be more ferocious.Lord Krishna says that even a spiritually wise person follows his Prakriti or inherent nature.A yogi who has got a lot of Sattva may follow Jnana yoga or Bhakti yoga, a person who has a lot of Rajas may follow Raja yoga or Karma Yoga and a person with lot of Tamas may follow Kshudra devatas or demi Gods etc according to his inherent tendencies.

So the Lord says it is not worthwhile to force upon a being to change his trait in a moment.How these traits are formed ? We have stored experiences from our past life and even from this life which are called “vasanas” or impressions.They are like potential energy which will manifest into kinetic energy in the present or future.If we sit for a moment and observe our thoughts we will find that innumerable thoughts or “vrittis” rise and subside every moment like waves of the sea.They are the result of our past actions.They impel us to act in a certain way.

So the Lord says that what is the use of suppressing these thoughts ? So what is the solution for us ? This he explains in the next verse which I will explain tomorrow.

NIFTY DAILY AND WEEKLY

On By devadasnayakIn Technical Analysis Of Indian Stock MarketsLeave a comment

Disclaimer : These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.Consult your financial advisor only before you trade.

 

NIFTY SPOT DAILY

Nifty has formed bearish engulfing patterns both on daily and weekly charts which indicate a correction  in the coming weeks.Close above 7809 on weekly or daily basis is the Stoploss depending on the time frame which you are trading. Mild bearishness sets in below 7441 and strong bearishness sets in below 7118.

Click on Chart to Enlarge

NIFTY

NIFTY SPOT WEEKLY

Click on Chart to Enlarge

Nifty Weekly

SRIMAD BHAGVAD GITA — LORD KRISHNA’S OWN WORDS

On By devadasnayakIn Srimad Bhagvad GitaLeave a comment

Chapter 3 Karma Yoga

 

r 998

CHAPTER 3,   SHLOKA 29

Click to enlarge

3-29

Here Lord Krishna says that the Spiritually self realized person should not disturb the spiritually ignorant people by imposing their ideas of them.Here Krishna says so because of two reasons i.e a) Man resents change and b) It may confuse the spiritually ignorant man.A spiritually ignorant man does not understand the working of Purusha, Prakriti, it’s gunas like karmendriyas, jnanyendriyas etc and always believes that “I am the doer”.Also the common people having their samsara ( family etc) have to fulfill a lot of worldly obligations.So if Spiritual-knowledge is imposed upon them, they may become more confused and this may lead them nowhere.So the Lord says, that encourage them to do more Karma or action which they are used to, so slowly they will realize the true working of Prakriti in the course of time.The Indian Masters( Avataras or Saints) always saw to it that their ideas were never imposed upon others by force.