Sunday, March 26, 2017
Do not Strike when Angry
Yashiko was a wealthy samurai warrior in ancient Japan. He cut a fine figure; his armour and sword were of the finest workmanship. His ornaments were of the finest variety: silver, copper, gold and bronze. Even the toggles on his tunic were priceless netsuke: masterfully carved figures of animals, insects, dragons and fishes, made of the purest ivory. He lived with his wife and elderly mother in an elegant tiled house in the best quarter of the town. He frequently drank the rarest and finest of teas, and often dined in the most expensive restaurants. His wife Ayako was considered the most beautiful woman in the kingdom, and his aged mother was much celebrated for her wisdom and learning.
Life was good for Yashiko. He had a handsome salary from the emperor, regular revenue from his many properties, and a hefty stake in a porcelain trading business. But even all this wealth was not enough for a man like Yashiko. To keep from getting bored (which was uncomfortably often) the proud and greedy samurai decided to start a moneylending business for poor people.
“After all, it takes money to make money,” thought Yashiko. “You never know when a rainy day or a water flood or the wind dragons may come and wipe everything away. Life is at best uncertain. A day is bound to come when more money will be needed than what is presently being returned to me by my investments. The poor are always with us, and the poor always need money. I can charge them a high rate of interest and not have to lift a hand. What a clever way to make some extra cash! I wish I had thought of it long ago. Why, moneylending is practically a licence to mint money! I shall begin my new enterprise, at once! At once!”
Down at the docks, Michiko, a poor fisherman, had experienced an unlucky year with his business. Regretfully, he took out a sizeable loan from Yashiko so he could feed his wife and
children. A year later, the loan had not been repaid. The proud samurai strapped on his deadly sword and strode off to find the fisherman and collect what was his due.
“I’ll show him who’s boss,” thought Yashiko. “One look at me and my sword and he’ll come running with the money.”
Upon seeing Yashiko marching forcefully towards him, full of his own importance, the ragged fisherman bowed humbly before the proud samurai.
“O Revered Sir! Great Samurai! Noble Warrior! It has been a very bad year again for me. I do not have sufficient funds to repay you.”
“What!” shouted Yashiko furiously. “After all this time! You scoundrel! After all the time and patience I have shown you! A whole year has gone by and you cannot even show me a single yen in repayment! Now I am going to kill you!” Menacingly, he drew his sword.
Fearing his life was about to end, the fisherman spoke up loudly.
“Revered sir, for sometime now I have been studying martial arts. One of the lessons my master has taught me is that you should never strike another when you are angry.”
“Hmmmmm,” thought Yashiko. “This is a clever fellow.” Just to be on the safe side, he lowered his sword.
“Your master is wise,’ said Yashiko carefully. “And I myself, as a student of the art of the sword, have heard that lesson many times. To be honest with you, O fisherman, I have such a temper that I often act without thinking. I tell you what I will do. You shall have another year to repay your debt. If you do not repay me in one year, I will come and take your life away with this sword.”
“Thank you, kind sir,’ murmured Michiko, bowing low.
Yashiko composed himself and walked away, his honour intact. By the time he had dined out at his favourite restaurant and arrived home it was nearly midnight. Seeing no lights in his house, he crept in quietly, not wishing to wake the servants or disturb his wife and aged mother. As he entered the house he lit the bronze oil lamp in the hallway. There he saw his wife whispering secretly to a strange man in the darkened living room at the end of the hall. “What is the meaning of this insult!” shouted Yashiko. Swiftly he drew his sword, ready to kill them both instantly. Just then the words of the fisherman echoed in his fevered brain.
“Never strike when you are angry.”
Yashiko paused and took a deep, laboured breath. Then his wife lit a candle. To his amazement, he found himself face to face with not only his wife, but his beloved mother too, who was dressed like a man in his warrior clothing.
“What is the meaning of this? Are you both completely crazy? Is this a joke? I almost killed the two of you! I demand an explanation—immediately!”
“O Revered Husband,” murmured Ayako, “You, my lord, as a samurai, are the guardian and sole protector of this house. Because you had not returned by dark, Mother and I were afraid. We decided to dress Mother up in your clothes to keep away intruders.”
“Oh, my God! Oh, my ancestors!” wept Yashiko. He shivered at the thought that because of his terrible temper, he had nearly killed what he loved most in the world - his beloved wife and his adoring mother.
A year later, Yashiko went to see the poor fisherman down at the docks. Michiko, upon seeing the samurai walking towards him, bowed humbly before him.
“It has been an excellent year’s fishing, my Lord! Please accept the money I owe you, plus interest.” “Keep your money, dear man,” replied Yashiko gently. “You don’t know it, but your debt was paid long ago.”
Bhagawan says on the subject of anger:
One's anger is one’s greatest enemy and one’s calmness is one’s own protection. One’s joy is one’s heaven and one’s sorrow is one’s hell… assume silence when you are invaded by anger.
Or remember the name of the Lord. Do not try to remind yourself of things which will inflame the anger more... That will do incalculable harm. A man consumed by anger can never be free of misery. For the decline in human qualities today, pride and anger are primarily responsible.
Holidays for the calendar year 2017 : Equities
NSE trading holidays 2017
| Sr. No. | Date | Day | Description |
|---|---|---|---|
| 1 | 26-Jan-2017 | Thursday | Republic Day |
| 2 | 24-Feb-2017 | Friday | Mahashivratri |
| 3 | 13-Mar-2017 | Monday | Holi |
| 4 | 04-Apr-2017 | Tuesday | Ram Navami |
| 5 | 14-Apr-2017 | Friday | Dr.Baba Saheb Ambedkar Jayanti/ Good Friday |
| 6 | 01-May-2017 | Monday | Maharashtra Day |
| 7 | 26-Jun-2017 | Monday | Id-Ul-Fitr (Ramzan ID) |
| 8 | 15-Aug-2017 | Tuesday | Independence Day |
| 9 | 25-Aug-2017 | Friday | Ganesh Chaturthi |
| 10 | 02-Oct-2017 | Monday | Mahatama Gandhi Jayanti |
| 11 | 19-Oct-2017 | Thursday | Diwali-Laxmi Pujan* |
| 12 | 20-Oct-2017 | Friday | Diwali-Balipratipada |
| 13 | 25-Dec-2017 | Monday | Christmas |
*Muhurat Trading will be conducted. Timings of Muhurat Trading shall be notified subsequently.
The holidays falling on Saturday / Sunday are as follows:
| Sr. No. | Date | Day | Description |
|---|---|---|---|
| 1 | 09-Apr-2017 | Sunday | Mahavir Jayanti |
| 2 | 02-Sep-2017 | Saturday | Bakri ID |
| 3 | 30-Sep-2017 | Saturday | Dasera |
| 4 | 01-Oct-2017 | Sunday | Moharram |
| 5 | 04-Nov-2017 | Saturday | Gurunanak Jayanti |
Market Timings
Trading on the equities segment takes place on all days of the week (except Saturdays and Sundays and holidays declared by the Exchange in advance). The market timings of the equities segment are:
A) Pre-open session
Order entry & modification Open : 09:00 hrs
Order entry & modification Close : 09:08 hrs*
*with random closure in last one minute. Pre-open order matching starts immediately after close of pre-open order entry.
Order entry & modification Open : 09:00 hrs
Order entry & modification Close : 09:08 hrs*
*with random closure in last one minute. Pre-open order matching starts immediately after close of pre-open order entry.
B) Regular trading session
Normal / Limited Physical Market Open : 09:15 hrs
Normal / Limited Physical Market Close : 15:30 hrs
Normal / Limited Physical Market Open : 09:15 hrs
Normal / Limited Physical Market Close : 15:30 hrs
Block deal session is held between 09:15 hrs and 09:50 hrs
C) The Closing Session is held between 15.40 hrs and 16.00 hrs
Note: The Exchange may however close the market on days other than the above schedule holidays or may open the market on days originally declared as holidays. The Exchange may also extend, advance or reduce trading hours when its deems fit and necessary.
Saturday, March 25, 2017
Ashok Leyland has formed inverted hammer in daily chart
Ashok leyland has formed inverted hammer in the daily chart. Though this is not the lowest candle in the near vicinity, it is still near the lower end of the move. Though it is not very strong signal, any move above 87.55 can take it towards 88.30, 89.15, 92.85.
Daily cahrt:
30 min chart:
Daily cahrt:
30 min chart:
LIC housing finance - Price action analysis
LIC housing finance has moved down from the high of 623 to 470 swiftly. This is followed by a weak retrace which is taking months to move up to 600 range. Now in the daily chart we can observer that this formed an inverted hammer rejecting the price above 600. We need to observe the further move. If the down move gathers momentum then we need to see a move towards 578, which should be strong. Then it should be followed by a weak retrace upwards. Again a move down breaking the low of the swing. That will confirm the down trend and an entry in to short postion.
Monthly chart:
Weekly chart:
Daily chart:
Monthly chart:
Weekly chart:
Daily chart:
IOC Indian Oil Corporation - Price action analysis
Stock price of companies in the same industry generally move in the same direction in normal market conditions.
Today when I analysed the price action move of HPCL, I was curious to watch IOC. The movements are similar!
IOC Monthly chart:
Weekly chart:
Daily chart;
Today when I analysed the price action move of HPCL, I was curious to watch IOC. The movements are similar!
IOC Monthly chart:
Weekly chart:
Daily chart;
Hindustan Petroleum price action analysis
Hindustan Petroleum chart analysis:
Monthly chart:
Hind Petro made a high at 583 and a swing low of 410. The range seems to be set in here for next couple of months.
Weekly chart:
If the current weeks low 498.60 is protected then it may move up for sometime. There may be a strong support near 490, from where the quick up move started.
Daily chart:
There is a doji and next candle is having lower high & lower low. So there is still a downward bias. It may re-test the 490 zone before moving up again.
Monthly chart:
Hind Petro made a high at 583 and a swing low of 410. The range seems to be set in here for next couple of months.
Weekly chart:
If the current weeks low 498.60 is protected then it may move up for sometime. There may be a strong support near 490, from where the quick up move started.
Daily chart:
There is a doji and next candle is having lower high & lower low. So there is still a downward bias. It may re-test the 490 zone before moving up again.
Piramal Enterprises Limited - follow up
Earlier I had noted a possible 'B' wave correction as a triangle, ending near the high of 1920 for Piramal Enterprises Limited.
So far the development after that is indicating weakness in the up move. If we observe the price action movements, the down move though not gathered momentum yet but indicates the downwards bias. Large bearish engulfing candle formed yesterday indicates the same. Move below 1800 will increase the downward momentum.
From the price action movement in PEL it appears that the earlier view of B wave ending near 1920 is valid.
So far the development after that is indicating weakness in the up move. If we observe the price action movements, the down move though not gathered momentum yet but indicates the downwards bias. Large bearish engulfing candle formed yesterday indicates the same. Move below 1800 will increase the downward momentum.
From the price action movement in PEL it appears that the earlier view of B wave ending near 1920 is valid.
United Spirits Limited - Follow up
I had written a possible opportunity in United Spirits Limited on 23-03-2017, following it up with yesterday's move.
Opened at 2193. Open and low are same. Opened above the half of the previous candle. These all indicate the stock is currently in the up trend. Another minimum requirement for the up trend is higher high and higher low for the subsequent candles. This is also meet.
Here is the daily chart of United Spirits Limited :
Opened at 2193. Open and low are same. Opened above the half of the previous candle. These all indicate the stock is currently in the up trend. Another minimum requirement for the up trend is higher high and higher low for the subsequent candles. This is also meet.
Here is the daily chart of United Spirits Limited :
Thursday, March 23, 2017
Aurobindo Pharma
I had analysed Aurobindo Pharma on 22-07-2016 when there was a news about its buy of Teva Pharmaceutical. This post shows how I label (Elliott Wave) the moves. Since then I have been following its movements.
There are two possibilities that I can see:
1. The down move which ended in December 2016 might have completed the 'C' and started the next up move.
2. Wave 'C' is still not over but a correction to the down December down move is going on. There might be another down move probably near 580 zone.
As of now the minor movements in daily chart shows weakness in the up move. There might be few days of down move expected.
Aurobindo Pharma weekly chart with Elliott wave labels:
Aurobindo Pharma with support and resistance marked for price action trading:
There are two possibilities that I can see:
1. The down move which ended in December 2016 might have completed the 'C' and started the next up move.
2. Wave 'C' is still not over but a correction to the down December down move is going on. There might be another down move probably near 580 zone.
As of now the minor movements in daily chart shows weakness in the up move. There might be few days of down move expected.
Aurobindo Pharma weekly chart with Elliott wave labels:
Aurobindo Pharma with support and resistance marked for price action trading:
United Spirits - is giving a long opportunity?
Yesterday (22-03-2017) United Spirits Ltd (USL) has formed a doji candle. This is indicating the indecisiveness, where both sellers and buyers are trying their best to move the stock in their direction but no one is able to gain an upper hand. This is followed by a large green candle which opened above yesterday's closing. The low was above the mid of the Doji. The close of this candle has engulfed the last two candles indicating the strong come back of the buyers.
USL United Spirits Limited daily chart:
USL United Spirits Limited daily chart:
List of FnO stocks in NSE
I'm capturing some useful links, information in this post. These info will be handy for screening or analysis.
1. List of FnO stocks in NSE (as on 23-03-2017)
1. List of FnO stocks in NSE (as on 23-03-2017)
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