Nifty above Agni level.

Nifty today closed at 4314 above the Agni level of 4303. Tomorrow’s Agni level is 4225 only. Hence, Nifty’s tomorrow opening position is 89 points above the Agni level. If Nifty does not touch Agni level, fresh buy can be considered. As the Nifty moved up today, %k of slow stochastic didn’t come below 32. Being F&O settlement day and VIX is very high @ 51.72, high volatility is expected.

This Friday, not only a no moon day, but also a solar eclipse day. Even though Nandi is not having prior data for an eclipse day, he expects a bull move on that day. Let us see whether it materialises or not.

Om Na Ma Shi Va Ya !!!

During the week prior to the last week, Nandi was keenly watching the movement of Nifty as it hovered around the bottom area of Shadjam bandwidth @ 3800. Then Nandi felt a soft and gentle ‘Om’ wave moving in the air. It is neither an up move nor a down move; but just a horizontal one. That “au…m” filled up two gaps that puzlled Nandi’s mind after the creation of “Vipani Sangeetham”. To match with the Elliott’s wave pattern, Nandi had dropped “Om” from the traditional manthra which the Indian Rishi’s gave to the world. Another gap was that the left padam (foot) of Nataraj idol on which Nandi identified Elliott’s five waves, was parallel to the ground just before the start of the first wave “Na”. As this aspect is not apparent in the Nataraj idol (downloaded from the web) posted earlier in the site, Nandi is posting the Nataraj idol which he received from his fellow workers as a memento. Thus, we are having the same age old “Om Na Ma Shi Va Ya“ manthra here also. And a small horizontal zero’th wave is required to be added to the Elliott’s waves to make it match with the centuries old Nataraj idol. In this digital age starting with zero is the correct one also.

Coming back to the current market scenario, Nandi feels that Nifty should be in the Rishabham bandwidth itself ( above 4100) to retain this uptrend in tact. Otherwise, touching the recent low again becomes a possibility.

Just figures updated.

Todays figures also added to the last days figures. No change in the view expressed.
Just note the change in Nifty closing figures and Agni level.

Date	Nifty Closing	Next day’s Agni level	Difference
17th July 2008	3947	3793	154
18th July 2008	4092	3862	230
21st July 2008	4160	4055	105
22nd July 2008	4240	4272	- 32
23rd July 2008	4477	4495	- 18

What next ?

Full moon and vote of confidence on central government are over. And in anticipation of central government’s continuance, Nifty closed today at 4240, above the Sudha Rishabham level, supported by large waves for the last four days. During this period Nifty had also gone down to 3790 on 16^th July. From 17^th onwards there is an interesting feature. Look at the figures below.

Date	Nifty Closing	Next day’s Agni level	Difference
17th July 2008	3947	3793	154
18th July 2008	4092	3862	230
21st July 2008	4160	4055	105
22nd July 2008	4240	4272	- 32

For any fresh buy, Nandi considers that the Agni level should be reasonably low when compared to Nifty spot. Further, a confirmation is also required ie. %k of slow stochastic chart should be below 20 (nearer to zero is that much better). Now %k is above 95 (refer the link http://niftylivechart.blogspot.com ). Nandi’s conclusion is that Nifty’s up move from here for the time being will be limited ie. around Chatusruti Rishabham level (4465). The above view can also be negated due to the sharp decline in crude oil prices and consequent surge in index. Let us see.

Remember the beautiful moments on the beach?

You may be remembering the beautiful moments on the beach when you are a child or with your children. When waves recede you go along with it and when large waves come in retreat very fast to a safe place on the shore. You repeat this process many times and finally get wet and enjoy it. The more you interact with natural phenomena like waves the enjoyment derived out of it is bountiful. Also note that during the periods of full moon and no moon the strength of the waves will be more. This week we are having a full moon on Friday the 18^th.

Now a days we are playing the same game with the market. One or two days up, and next day down or vice versa. If you are capable of playing the game, well and good. Otherwise you may enjoy it from out side; particularly considering the full moon on 18^th and the Vote of Confidence on Central Government on 22^nd. Confirmation levels Nandi had indicated for the up moves are Nifty closing above Sudha Rishabham (4233) and Chatusruti Rishabham (4465). It seems we have to wait for some more time to see it.

BLOG CAMP KERALA ON 16TH AUGUST 2008

Blogs Blogs Blogs........... Blogs community is growing very fast. It is a new revolution in the world wide information network. Google's blogger.com is providing platform to publish one's dream virtual tabloid not only in English, but also in many local languages like Malayalam, Tamil, Kannada and Hindi. Wordpress.com is also providing similar facilities. One BIG plus is you need not spend a single Rupee for this purpose.

For sharing the experiences of the blog community in India, a blog camp is being held at Alleppey, Kerala on 16th August 2008.

For further details please go to http://www.blogcampkerala.com/

NIFTY MOVED TO RISHABHAM.

Today Nfty moved to Rishabham after 9 days in Shadjam. So far the Nifty points in current carnatic music scales were held good, even though one day Nandi was doubtful. As Nandi requires some more time to confirm whether today’s up move is the start of a new raga or not, Nandi feels that long term buyers may wait for the confirmation. For those who can exit on Agni levels can take small positions to capitalize this up move. But, Soma Surya levels are not showing much improvement when compared to the magnitude of up move today. Even though yesterday Soma levels were good Nifty did not move to that level due to the negative opening of European markets.

Nandi considers Elliott as a Guru (Master)

“It’s like a finger pointing to the moon.” Said Lee to his student (Film :“Enter the Dragon”). Elliott’s theories and words were pointers to Nandi in the direction of Lord Shiva. In India Gurus were enlightened masters who pointed towards truth (Satyam). Therefore, Nandi considers Ralf Nelson Elliott (1871-1948) as Guru. Without Elliott, Nandi would not have understood Shiva’s creation and destruction pattern in present day market.

-----------------Satyam------------ Shivam------------- Sundaram

NATARAJ & BASIC PATTERN OF ELLIOTT’S WAVES !

The sequence, in which each number is the sum of the two preceding numbers is known as the Fibonacci series: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, 2584, 4181, ... (each number is the sum of the previous two).

The ratio of successive pairs tends to the so-called golden section (GS or PHI ) - 1.618033989 . . . . . whose reciprocal is 0.618033989 . . . . . so that we have 1/GS = 1 + GS.

It is quite amazing that the Fibonacci number patterns occur so frequently in nature ( flowers, shells, plants, leaves, to name a few) that this phenomenon appears to be one of the principal "laws of nature".

Probably most of us have never taken the time to examine very carefully the number or arrangement of petals on a flower. If we were to do so, we would find that the number of petals on a flower, that still has all of its petals intact and has not lost any, for many flowers is a Fibonacci number:

• 3 petals: lily, iris
• 5 petals: buttercup, wild rose, larkspur, columbine (aquilegia)
• 8 petals: delphiniums
• 13 petals: ragwort, corn marigold, cineraria,
• 21 petals: aster, black-eyed susan, chicory
• 34 petals: plantain, pyrethrum
• 55, 89 petals: michaelmas daisies, the asteraceae family

Plants do not know about this sequence - they just grow in the most efficient ways. Many plants show the Fibonacci numbers in the arrangement of the leaves around the stem. Some pine cones and fir cones also show the numbers, as do daisies and sunflowers. Sunflowers can contain the number 89, or even 144. Many other plants, such as succulents, also show the numbers. Some coniferous trees show these numbers in the bumps on their trunks. And palm trees show the numbers in the rings on their trunks.

Why do these arrangements occur? In the case of leaf arrangement, or phyllotaxis, some of the cases may be related to maximizing the space for each leaf, or the average amount of light falling on each one. Even a tiny advantage would come to dominate, over many generations. In the case of close-packed leaves in cabbages and succulents the correct arrangement may be crucial for availability of space.

So nature isn't trying to use the Fibonacci numbers: they are appearing as a by-product of a deeper physical process. That is why the spirals are imperfect.
The plant is responding to physical constraints, not to a mathematical rule.

The basic idea is that the position of each new growth is about 222.5 degrees away from the previous one, because it provides, on average, the maximum space for all the shoots. This angle is called the golden angle, and it divides the complete 360 degree circle in the golden section, 0.618033989 . . . .

( For further reading: http://www.world-mysteries.com/sci_17.htm )

The number PHI derived from the Fibonacci sequence – a progression famous not only because the sum of adjacent terms equaled the next term, but because the quotients of adjacent terms possessed the astonishing property of approaching the number 1.618 – PHI. Despite PHI’s seemingly mystical mathematical origins, the mind –boggling aspect of PHI is its role as a fundamental building block in nature. The ancients assumed the number PHI must have been preordained by the Creator of the universe. Early scientists heralded one-point-six-one-eight as the Divine Proportion”

The Devine Proportion has been extensively used by artists and musicians world wide. Leonardo Da Vinci’s famous male nude – The Virtruvian Man – is a brilliant example.

The artwork by Michelangelo, Da Vinci, and many others, adhered to the Divine Proportion meticulously. PHI is used in the architectural dimensions of the Greek Parthenon, and the pyramids of Egypt. PHI appeared in the organizational structures of Mozart’s sonatas and Beethovan’s Fifth Symphony. The number PHI, was even used to calculate the exact placement of the f-holes in the construction of famous violins.

Elliot wrote:

Nature’ Laws embraces the most important of all elements, timing. Nature’s Laws is not a system, or method of playing the market, but it is a phenomenon, which appears to mark the progress of all human activities. Its application to forecasting is revolutionary.

All human activities have three distinctive features, pattern, time and ratio, all of which observe the Fibonacci summation series.”

Later I found that the basis of my discoveries was a Law of Nature known to the designers of the Great Pyramid “Gizeh”, which may have been constructed 5000 years ago.

( http://www.goldenmuseum.com/1609Elliot_engl.html )

The dancing of Shiva is the dancing of universe; the ceaseless flow of energy going through an infinite variety of patterns that melt in to one another. Indian artists of the tenth and twelfth centuries have represented Shiva’s cosmic dance in magnificent bronze sculptures of dancing figures with four arms whose superbly balanced and yet dynamic gestures express the rhythm and unity of Life. The upper right hand of Shiva holds a drum to symbolize the primal sound of creation, the upper left bears a tongue of flame, the element of destruction. The balance of the two hands represents the dynamic balance of creation and destruction in the world, accentuated further by the Dancer’s calm and detached face in the centre of the two hands, in which the polarity of creation and destruction is dissolved and transcended. The second right hand is raised in the sign of ‘do not fear’, symbolizing maintainance, protection and peace.

As of Nandi you can also see the basic pattern of Elliot’s Waves in the dancing Nataraja idol shown above. First two waves in the left leg, the powerful third wave through the body from the right side of the hip to the left shoulder (path of Poonool), & Fourth and Fifth waves in the left hand. After the completion of the Fifth wave there is flame symbolizing the destruction thereafter.

Nifty bounced from within the Shadjam band width.

Whether Nandi’s appraisal of market yesterday were gone wrong ? May be. Nandi expected a bounce back from Shadjam level (3969) as told in yesterdays post. Since it didn’t materialize yesterday and the Nifty moved to 3878 Nandi concluded that Shadjam level didn’t held. Today, on seeing the bounce Nandi reappraised the situation. Then it is seen that Shadjam is having a bandwidth of 264 points – 132 points up from 3969 (refer post titled “ Nifty moved to Shadjam? “) and 132 points down from 3969 ie. up to 3837 and Nifty didn’t pass through Shadjam . Now it is felt that Nandi’s expectation of a bounce from the Shadjam was fulfilled. Let us see whether 3837 will be held or not in coming days. By the way, both Soma (4098) and Surya (3850) levels were embraced today by Nifty. It’s levels were 4107.15 and 3848.25. But on going through the Soma Surya levels worked out for tomorrow, Nandi is not satisfied. Today’s up move didn’t reflect in it.

Nifty down below the base level.

Nifty today not only touched the Shadjam level, but also passed through it swiftly to 3878 level. Therefore Nandi’s hope that the Nifty may cease it’s downward move at 3969 was not fulfilled. Nandi didn’t exit the longs yesterday at Agni level (4130) on the hope of bouncing and it became very damaging today. As the base level of 3969 didn’t hold good in this correction Nandi has to find out some other base level afresh after the downward movement is completed. If we consider the highest point of 6350 as Shadjam after Nishadam then Nifty’s downward movement may be ½ of that ie. 3175. This is just a possibility. May not be correct as of now. Till then Soma, Surya & Agni level will be given as usual. And also some material connected to Lord Shiva.