looks more & more like c&h, if so target too tallies with my abv 10xxx

http://stockcharts.com/help/doku.php...th_handle_cont

Handle: After the high forms on the right side of the cup, there is a pullback that forms the handle. Sometimes this handle resembles a flag or pennant that slopes downward, other times it is just a short pullback. The handle represents the final consolidation/pullback before the big breakout and can retrace up to 1/3 of the cup's advance, but usually not more. The smaller the retracement, the more bullish the formation and significant the breakout. Sometimes it is prudent to wait for a break above the resistance line established by the highs of the cup.

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Monthly looking still more bullish though 5800 needs to sustain.... monthly bullish engulfing happened...

USD seems to be working out well though overshot a bit abv 55 but overall I think it made a lower top this month...

only problem is all EW guys are scarring the h'ell out... even few days back my TA chartish friend called that 3k level will come & he has started shorting with every 50 pt rise...  time shall tell  

Is Corruption in Indians Genes?

Something to think about .... with due respect to all ...

Indians are Hobbesian (culture of self interest)


Corruption in India is a cultural aspect.
Indians seem to think nothing peculiar about corruption .
It is everywhere.

Indians tolerate corrupt individuals rather than correct them.

No race can be congenitally corrupt.
But can a race be corrupted by its culture?

To know why Indians are corrupt ,
look at their patterns and practices ..

First:

Religion is transactional in India.
Indians give God cash and anticipate an out-of-turn reward.
Such a plea acknowledges that favours are needed for the undeserving.

In the world outside the temple walls,
such a transaction is named- “bribe”.

A wealthy Indian gives not cash to temples,
but gold crowns and such baubles.

His gifts can not feed the poor. His pay-off is for God.
He thinks it will be wasted if it goes to a needy man.

In June 2009, The Hindu published a report of Karnataka minister
G. Janardhan Reddy gifting a crown of gold and diamonds worth
Rs 45 crore to Tirupati.

India’s temples collect so much that
they don't know what to do with it.
Billions are gathering dust in temple vaults.

When Europeans came to India they built schools.
When Indians go to Europe & USA, they build temples.

Indians believe that if God accepts money for his favours,
then nothing is wrong in doing the same thing.
This is why Indians are so easily corruptible.

Indian culture accommodates such transactions morally.
There is no real stigma. An utterly corrupt Jaya Lalita can
make a comeback, just unthinkable in the West.

Second -

Indian moral ambiguity towards corruption is visible in its history.
Indian history tells of the capture of cities and kingdoms after guards
were paid off to open the gates, and commanders paid off to surrender.

This is unique to India.

Indians' corrupt nature has meant limited warfare on the subcontinent.
It is striking how little Indians have actually fought compared to
ancient Greece and modern Europe.

The Turks’ battles with Nadir Shah were vicious and fought to the finish.

In India fighting wasn't needed, bribing was enough to see off armies.

Any invader willing to spend cash could brush aside India’s kings,
no matter how many tens of thousands soldiers were in their infantry.

Little resistance was given by the Indians at the “Battle” of Plassey.
Clive paid off Mir Jaffar and all of Bengal folded to an army of 3,000.

There was always a financial exchange to taking Indian forts.
Golconda was captured in 1687 after the secret back door was left open.

Mughals vanquished Marathas and Rajputs with nothing but bribes.

The Raja of Srinagar gave up Dara Shikoh’s son Sulaiman to
Aurangzeb after receiving a bribe.

There are many cases where Indians participated
on a large scale in treason due to bribery.

Question is: Why Indians have a transactional culture while
other 'civilized' nations don't?

Third -

Indians do not believe in the theory that they all can rise
if each of them behaves morally, because that is not
the message of their faith.

Their caste system separates them.
They don't believe that all men are equal.
This resulted in their division and migration to other religions ...

Many Hindus started their own faith like Sikh, Jain, Buddha
and many converted to Christianity and Islam.

The result is that Indians don't trust one another ..

There are no Indians in India ,there are
Hindus ,Christians, Muslims and what not.

Indians forget that 400 years ago they all belonged to one faith.

This division evolved an unhealthy culture.
The inequality has resulted in a corrupt society,

In India every one is thus against everyone else,
except God ­ and even he must be bribed.

I have a conspiracy theory (since few months) :hehe:

I believe congress wont last long, at the most till 2012 mid... Some powerful person or persons is behind congress. Its like the fight between Dhirubhai & I think wadia... how congress was smacked...

constant attacks consistently are well played, we cannot believe these one after another attacks on their scams coming to public... never in all these decades has media had the guts to do this unless a strong hand is playing them. I think when MMS said foreign hand invloved in overthrowing congress he was saying the truth... all this is slowing leading to a no confidence motion when the Iron gets red hot.... aage aage dekho hota hai kya...

within few months Team Anna shud form a nationwide party... that wud be the right thing to do... & thus the momentum will keep going... I dont know how gud wud that be since I read many times Anna is got a dictatorial nature :pray

India is on crossroads... Jai Jawaan Jai Kisaan, Gimme Blood I promise you freedom...

200 dma - 5729

sustaining below 5700 for a couple of days & its game set & match bears...

for the 1st time after may/june 09, 100 & 50 dma is below 200 dma... (last time it went below was in april/may 08)

Back after a long time... & my last post when nifty was 3000 (Its alive) to 5600, what a journey, spectacular. I believe this is the final lap before a significant correction steps in... ofcourse the move has been dead after the initial jump as since in last october (2009) we touched 4998 & in the last year Nifty has been dilly dallying with a 10% move up in 11 months.... not the kind of bull market we were looking for, is it ?

Most of the cats & dogs stocks have been moving since a couple of months & Index has been smartly manipulated with rotation of stocks & major thanks to the Oil companies. Ofcourse SBI with interest rates rising is rising alongwith.

Now after todays move of approx 100 points Nifty, we are standing at cross roads again, sustaining above 5580 is important & a daily close below 5550 will be not good for the bulls.

Below is the daily chart of Nifty, saying it all:

Ofcourse September is the Mutual funds Half yearly NAV so I doubt if the will let the market slip, rather they are prone to holding the markets as we witnessed in the last few days...

on the other hand option data suggests no further big upside this month...

All the Best to your trades.

New Forum...

New forum opened for discussion of Indian Stock markets, worth a check:

IndiTraders.com