Limited take on Nifty :

~ Dollar Index closed above 93 , which is not good for EMs

~ For further weakness you have close below EMA-9

~ Their is 30 % probability you will test EMA-21 before 6th Oct

~ 2 big macro triggers , Crude & Dollar Index

~ Review daily , no fix view

The thread explains my momentum scanner and how to build it in #TradePoint software.
@Definedge
Conditions :
1)EMA 8 above EMA 34 and rising
2)Candle close above previous 5 candle high
3) RSI above 60
4) Volume above previous 5 candles
5) ADX above 30
1/n

Select Double Moving Average 8 and 34
2/n

Under Patterns select Close Above Prev Bars
3/n

Qualify the candle close
4/n

RSI above 60
5/n

1/ Here are my notes from @robertwrighter's book - Nonzero: the logic of human destiny. I enjoyed the book very much.

The basic premise of the book is that history has a direction which favors co-operation and non-zero sum games, and that causes an increase in complexity.

2/ Starting from the first replicating molecule which co-operated with an outer layer to form first proto-cell, evolutionary and cultural history is full of examples where two entities come together to survive and progress a lot more than they would have done individually.

3/ This co-operative entity fares much better than two individual entities because of specialization. If two entities are in the same boat - that they win together or lose together - then trust is implicit.

4/ In a non-zero sum game, trust causes entities to focus on what they do best.

For example, eukaryotic cells - the ones animals and plants have - emerged when two proto-cells merged, and one took the role of energy generator (mitochondria), the other specialized in protection.

5/ Some scientists believe that even nucleus in a cell is a result of an early cell merging with another cell.

So M&A is not a recent phenomena, entities have been merging because of common interests ever since life started.

THE IMPORTANCE OF DEVI BEEJ / BIJA MANTRA.

Once Suutji in his discourse with King Janmajeya repeated the words of Vyasji regarding the pronounciation of the word ऐ. Vyasji had heard the importance of this word in a meeting of all important saints at Naimisharanya.

There this story was discussed.

In that gathering of such great sages, Rishi Jamdagni asked a question to all the eminent luminaries. He wanted to know which diety is the most revered and gets satisfied easily with our prayers. So Lomash rishi replied that Devi

Bhagwati was one such diety. She will be satisfied and is ready to grant you a boon even if you just say the first letter of her beej mantra. In this context he narrated the story of Satyavrat. The story is as follows.

There lived a Brahmin named Devdutt in Kosal.

He was childless. He arranged for an elaborate yagya for a intelligent son to be born. He invited all the eminent rishi's to conduct this Yagya. Rishi Suhotra, Pael, Brahaspati Yagyavalka were assigned different tasks. Rishi Gobhil was asked to sing the Saamved.

He sang the verses very well, but he had to take respite in order to breathe between two verses. This angered devdutt. He spoke his thoughts to Gobhil rishi.

The rishi got very angry as devdutt did not realise the practicalities of singing. He cursed devdutt that