2|ATMASPHERE OCTOBER2012

CONTENTS

LetterfromthePresidentPage3
EditorsNotePage4
UsingPointandFigureChartstoImproveYourExistingTradingApproachIIIUsingMurreyMathLinesby
AbnashSinghPage5
PointandFigureTraps:Clearrulesfordefiningtrappedbulls&bearsbyPrashantShahPage9
BookReviewADXcellenceBySumeetJainPage16
ForthcomingEventsPage18
PastEventsUpdatePage19
ATMAWebinarSeriesPage23

This newsletter is produced by the Association of Technical Market Analysts. All comments and editorial material do not necessarily reflect the organization's
opinion nor does it constitute an endorsement by the Association of Technical Market Analysts or any of its officers, of any products or services mentioned.
Sources are believed to be reliable at time of publication, but not guaranteed. The Association of Technical Market Analysts and its officers, assume no
responsibilityforerrorsoromissions.

NOVEMBER2012 ATMASPHERE|3
LETTERFROMTHEPRESIDENT

DearColleagues,
Yetanotherfinancialyearcomestoacloseandthereismuchaccomplishedwithclearprospectsforyetanevenbetteryearaheadfor
us.Toreflectbriefly:yourATMAhostedtwolargemegaeventsfeaturingglobalspeakersattheBSEInternationalConventionHallwith
an illustrious partner, the BSE Brokers Forum, we shifted to a much bigger and nicer office for our Executive Team, right next to the
BSETradingHall,wecreatedtheworldsfirstELibraryonthesubjectofTechnicalAnalysis,weestablishednotonlyapanIndiareachforourmonthlychapter
meetings,butalsoformalizedtheexpansionofourpartnershipwiththeMTA,Inc.tonowincludeNepal,BangladeshandSriLankawithinourspanofwork.
We have gone onto creating a powerful delivery mechanism for high quality webinars which can accommodate up to a 1000 participants. Needless to
emphasize,thatthishighqualitymonthlypublicationcomingbyeachmonth,isawinningfeatherinourcap,aswell.
Withendlessgrowth,reachandactivitymaterializingATMAlikeanyotherprogressiveorganizationiseverreadytoabsorbgoodmindsandgoodhearts.We
are keen to expand our Board of Trustees, expand our volunteer committees, and recruit more people to enhance our Executive Teams. Please do step
forwardwithanyrecommendationsornominationsthatyoubelievewillbringvaluetoATMA.
A professional is one who can be relied upon for regular work. ATMASphere by this yardstick has come to become a professional piece of work. A great
initiative is one that is owned widely by its beneficiaries. It is time now that ATMASphere finds a larger participation and thus ownership. To enhance the
qualityofcontributionsandthequantityofcontributionsforevenbetterreadingmaterials,IamaskingtheEditortoinitiateappropriatemonthlyawardsfor
thebestcontributions.
Sincerely,
Sushil Kedia

4|ATMASPHERE NOVEMBER2012
EDITORSNOTE

Inthisissue
AbnashSinghintroducesustoMurreyMathLinesandexplainstheirusageonPoint&FigureCharts.
PrashantShahexplainstrappatternsinPoint&FigureChartswithillustrations.
SumeetJainreviewsADXcellencebyCharlesBSchaap.
PleaseletusknowwhatyouaredoingandallowustoshareyourapplicationofthetoolsoftechnicalanalysistothereadersofATMASpherebysendingan
emailtoeditor@atmaindia.net.YoucansubscribetoATMASpherecompletelyfreebyclickinghere.

Sincerely,
Meghana V Malkan

NOVEMBER2012 ATMASPHERE|5
USING POINT AND FIGURE CHARTS TO
IMPROVE YOUR EXISTING TRADING
APPROACH III USING MURRAY MATH
LINES
BYMR.ABNASHSINGH
Murrey math lines (MML) is a relatively new trading indicator showing
supportsandresistances,andhelpsinfindingtrendsandtrendchanges.The
indicator was developed by T. Henning Murrey and has some similarity to
Fibonacci retracement and pivot points. MML was created based on the
observationsofGannstudiesandisasimplewaytoimplementGann.
Murrey math lines comprise 9 equidistant lines which run parallel to one
another.MMlinesfromthebottomareatthelevels0/8,1/8,2/8,3/8,4/8,
5/8, 6/8, 7/8 and 8/8. 0/8 is the oversold line and 8/8 the overbought line;
thesearethehardestlinestocrossandaround75%ofthetime,thecrossing
triggerspricereversal.Therangebetween3/8and5/8isthenormaltrading
range and price tends to consolidate at these levels before falling (3/8 line)
orrising(5/8)beyondthistradingrange.
LikeFibonacciretracements,whenthepriceisbetweentwolines,theupper
lineisconsideredasresistanceandlowerlineisconsideredassupport.When
the price rises above 5/8 and touches 6/8, it has a tendency to reverse to
retest the 5/8 level before heading high. The same is also applicable to
downtrends;thepricetendstoreversetoretestthe3/8levelbeforeheading
down.
Caution:MurreyMathlinesareasetofsupportandresistancelinesandlike
any such line are NOT predictive. Which means that when you trade with
these lines, there is a risk inherent in the trade, which is mitigated by the
"likelihood" of price moving in the direction suggested by Murrey. Hence,
anytradingstrategybasedonMurreyMathlinesorMMLmusthaveastrong
riskmanagementorstoplossoverlaytoavoidlosingcapital

6|ATMASPHERE NOVEMBER2012
Plotting the lines: Please check the Amibroker formulas given in the link
http://www.tradewithme.me/tradingsystemsivmurraymaths.html.
Detailed explanation of the Octave theory and logic is beyond the scope of
thisarticle.ThechartinFigure1iscourtesyBigMikesTradingBlog.
TradingMurrayMath(MM)lines:
SimplerulestotradeMMlinesareasfollows:
Always look for a test of a MM level and a retracement before
enteringatrade.
Bouncesfrom0/8and8/8withafollowthroughpassing1/8and7/8
linesarehighprobabilitysuccesstrades.
Price bouncing from the mid line 4/8 and rising above or falling
througharealternativetrades.Asthisisusuallythemarketpricemid
range,rangingperiodscanleadtomanyunproductivetrades.
Downsidebreakoutthatfallsbelow0/8andcrossesthebreakoutline
2/8orcrosses8/8andtheupsidebreakoutlevel+2/8areadditional
tradingpoints.
PointandFigureapplication:
Forthepurposeoftrading,the0,1,4,7,8/8and+2/8and2/8levelsarethe
appropriatelinestoplot.
The inherent noise cancellation and the inbuilt retracement based breakout
logic of point and figure method enables MM lines trading to be done
conveniently.Seethechartsinfigures2and3.
Figure2showsaconventionalbarchartforNiftyFutures,where2tradesare
either missed or are faulty. By their very nature that Point and Figure buy
andsellsignalsaregeneratedasdoubletopsordoublebottomsthatinclude
a retracement before the buy or sell signal is generated, the signals
generatedcomplywiththeMMlinestradinglogicverywell,whichishelped
withthenoisecancellationfeatureofPnF.

SeeFigure3fortradesasseenonPointandFigurecharts.Noticehowthe
signalsaregeneratedwithoutanyambiguity.
NOVEMBER2012 ATMASPHERE|7

Abnashisaseasonedindustryprofessionalwithover30
yearsofexperienceintheITindustryworkinginvarious
leadership roles in reputed organizations. He has a
backgroundofbothIIMandIITandaftercompletinghis
last work stint, grew his interest in trading to a full
fledged business with his online presence
throughwww.TradeWithMe.Me. His focus is on trading and educating
othersinthestockmarkets.
8|ATMASPHERE NOVEMBER2012

TheDream...hascomeTrue!Almost!

World'sFIRSTELibraryofTechnicalAnalysis

= ;
d|
=H!|,
7c

||
Giving food to a hungry person is indeed a great donation, but the
greatest donation of all is to give a person education. Food gives but a
momentary satisfaction whereas education empowers the person for his
entire life.
EachATMAMemberisatthispointgoingtobeabletogiveasmuchtoeach
otheraseachisgoingtobereceivingincourse.
TheDream,thatishowIhavealwayscalleditformyself,theestablishment
of an ELibrary that contains not just research papers and manuscripts but
commercially published good books on subject areas related to us, is now
within reach. Almost there..! Yes! Books on Technical Analysis, Trading
Strategies, Quantitative Finance, Backtesting, Algorithmic Trading,
InvestmentPsychology,HedgeFunds,BehavioralFinance&lotsmore!
Even before succeeding at launching ATMA, I have aspired with my blood,
fleshandsoultobeabletobringupthisconcept.Infact,rightatthedayof
our launch we inaugurated an Elibrary that contains many decades of
research papers and journals! But the commercially published books could
not be integrated so far and a true professional selfservice elibrary has
had to wait. With painstaking work some of us scrounged and searched
endless websites, made endless calls liaisioning and networking with some
ofthebestpublishersacrosstheglobetryingimpressinguponthemIndiais
asafecountryandweareasethicalasanyotherprofessionalenterprisein
anyothercorneroftheworldtobeallowedtohostadigitallibraryofbooks
Endless evaluations of legal structures,
payment formalities, technologies and this
sweat and toil of nearly 20 months is now
fructifying! The world's most reputed,
largest and oldest vendor of Elibraries has
considered positively all our pitching and
discussing and despite the fact that we may
be there smallest customer today agreed to
mailoveracontracttous!

Thisvendorhasdigitizedthetop10000librariesaroundtheworld!Andyes,
yourveryATMAisgoingtobenowservedbythisveryvendor!Notonlyare
we going to buy and stock up Ebooks and audio books we will be in time
abletogeneratefundstohavetrainingvideosinthisonlinelibrary.
Theworkahead,forallofus..
Make out a list of the top 20 books you wish to see
onthislibraryandifyouwishtomakethelistoftop
20booksyouhavereadasaTechnicalAnalyst,trader
oramarketspersonmakethattoo!Makealistoftop
authors if full names of books dont come to mind
immediately. Make your wish lists! Mail them to
librarywishes@atmaindia.net & they will
automaticallybeforwardedtoallvolunteersworking
with me and Gunjan Dua on this DREAM PROJECT.
Writeoutyourlists
EmailtoTEAM
Letteamcompile
Teamdrawsmap
EvolutionaryGoal
Charity begins at
home and do the
now! Let
your opinion, ideas,
desiresbeknown.
TheChallengesahead..!
Tobuildahighlyusefulcollectionofebooksthatmakeourmoneyworkwellforusin
this massive ongoing investment, we have to carefully select every good book
available and yet also avoid frivolous or very esoteric purchases. Building a great
library is an evolutionary goal. Come participate in this pathbreaking initiative that
will change the orbit of our Association, forever. Well, there may not be enough
money,enoughbooks,enoughtypesofbooks,enoughofthisorenoughofthat,yet
what you will along with patience over time to live through when there will be
enough of everything, have one thing now which will never come again: be the
architectsoftheworld'sfirstelibraryonTechnicalAnalysis.
NOVEMBER2012 ATMASPHERE|9
P&FTRAPS:CLEARRULESFORDEFINING
TRAPPEDBULLS&BEARS
BYMR.PRASHANTSHAH
I wrote on Nifty and Point and Figure Catapult pattern in November month
newsletter and explained that one can find them more affordable and
tradable in high low P&F charts than close only charts due to horizontal
natureofthepattern.
IamdiscussingP&FTrappatterninthisedition.WeoftenusethewordsBull
traps and Bear traps in conventional charting patterns. We usually mean
patternfailuresorfalsebreakoutswhenwesaythat.

PatternExplanation:
Point and Figure Traps are 4 column patterns that are very clear and simple
tounderstand.ExampleofBulltrapandBeartrapP&Fpatternareshownin
Figure 1 and 2 respectively. In simple words, Bull Trap is a pattern where
Double Bottom sell signal is generated immediately after Double Top buy.
And Bear Trap is a pattern where Double Top buy signal is generated
immediatelyafterDoubleBottomsell.

Figure1:BullTrapFigure2:BearTrap
For those who are new to P&F charting, Double Top buy signal is generated
whencurrentcolumnofXrisesabovethetopofpreviouscolumnofX.And
Double Bottom sell signal is generated when current column of O breaks
belowthepreviousdowncolumnofO.
Bull Trap is a bearish reversal pattern and Bear Trap is a bullish reversal
pattern. Immediate reversal signal is important and hence it is a 4 column
pattern. 6 column patterns are variation of Trap pattern and should be
treatedquietdifferently.
ExamplesofPatternoccurrence:
Figure 3 shows example of Bear Traps in 1% box value chart of Nifty closing
prices along with subjective trend lines. Bull Traps are shown in Figure 4 of
same chart of Nifty. Observe the trading opportunities and piece of
information it can provide in subjective analysis. Subjective lines are drawn
toobservethepatternsinuptrendinganddowntrendingprices.

10|ATMASPHERE NOVEMBER2012
Figure3:BearTrapsshownin1%x3BoxNiftyPointandFigureChart
Figure4:BullTrapsshownin1%x3BoxNiftyPointandFigureChart
It is difficult to define Traps such clearly in any other charting method. P&F
Trappatternprovideinformationimmediatelythattradershavegotstuckin
recentbreakout.

LogicofformationComparisonwithCandlestickcharts:
It is important to understand the formation in other charts when Trap
pattern has occurred in P&F chart. The width of the bar or candlestick
patterndependsonchosenboxvalueinP&Fchart.
HavealookatFigure4.P&FandCandlestickchartsareplottedforthesame
time period. P&F chart of Nifty is of 0.25% box value. There are 2 bear trap
patterns that have occurred during October November 2012. Observe the
candlestick chart of same period. Situation of Trap can also be seen in
candlestickchartbuteasytoobserveinP&Fchart.
It is also interesting to know that Bear traps in uptrend form mini bottoms
and so vertical counts can be taken from such pattern breakouts. That can
helptradersforpricedirectionandtarget.
P&F chart plotted in Figure 5 is High Low chart of box value 10. Two Bull
Traps have occurred in Jan Feb 2013 in P&F chart. Observe width of the
pattern in candlestick chart compared to Figure 4 due to lower box value in
P&F chart. Knowledge of Traps in P&F while trading even short term
candlestick patterns can help. These chart comparisons can help one in
understandingthelogicofformationofTrapsinP&Fcharts.
IhaveseenTrappatternsinverylowboxsizesofP&Fchartswhenshooting
starorengulfingpatternhaveappearedincandlestickchart.Sometimeprice
patterns that are not easily found in bar or candle charts can easily been
observedinP&Fobjectiveformations.
NOVEMBER2012 ATMASPHERE|11
Figure5:NiftyDailycandlestickchartand0.25%x3PointandFigureChart
Figure6:NiftyDailycandlestickchartand10x3HighLowPointandFigure
Chart
TradingTraps:
Trap alone can also be traded but it is important to check magnitude of the
pattern to check affordability. Figure 7 shows Wide and narrow trap
formations.
Trap Stop loss will not be affordable if pattern breakout column is relatively
longer.Thereisnopointintakingatradeifexitispracticallynotaffordable.
Pattern A shown in the Figure 7 is a Bull Trap pattern with relatively longer
columns at breakout. If stop loss is kept when pattern is negated than
practically this is not the affordable opportunity. These are wide traps.
PatternBisarelativelynarrowandeasilytradable.
12|ATMASPHERE NOVEMBER2012

Figure7:Nifty0.25%x3P&FChart
I believe affordability is very important factor in trading. Predefined or well
defined entry and exit scenario is very important aspect of trading in any
timeframes.Talkingabouttargetsanddirectionisaboutbusinessofgossips
anddifferentfromtrading.
Blue resistance line shown in Figure 7 is 45 degree trend line. Bull Trap
occurring at resistance is important information and adding to affordability
aspectoftrading.

ImportanceofFilters:
Traps can be filtered with other tools in Point and Figure charts such as
Moving averages, Envelopes, Bollinger bands etc. One important feature of
P&Fis45degreetrendlinesduetoitsfixedaspectratio.
Figure 8 shows Bull Traps in 45 degree down trend and Bear Traps in 45
degree up trends of 0.25% box value of Nifty. I have shown vertical counts
from breakout columns. As mentioned before, Bull Traps in Downtrend and
BearTrapsinuptrendcangiveustheopportunitytocountbecausetheyalso
formminitopsandbottomsrespectively.
Figure 9 shows Bear traps in down trend and Bull traps in uptrend in the
samechart.ItwillhelptoobservethattradingTrapsagainstthetrendisnot
advisable. Plot different box value P&F charts and try this. I can assure that
observationwillbeveryinteresting.

Figure8:Nifty0.25%x3PointandFigureChart
NOVEMBER2012 ATMASPHERE|13
Figure9:Nifty0.25%x3PointandFigureChart
Trapsarereversalpatterns.BeartrapsinuptrendingmarketsandBulltraps
in down trending markets can be traded as pull back system. A Bull trap in
extended trend is a sign of some toppish formation in prices and breach of
recent45degreeinternallineafterthesameisaworryingsignforbulls.
Traps on close only charts should be preferred for trading. Series of
horizontal columns and intraday volatility can generate frequent Traps in
Highlowcharts.Trapsonclosingbasisaremoreimportant.
P&Fanalysiscancomplementanykindofanalysisandmustproveimportant
weaponinatradersarsenal.AlltheP&FchartsIhaveusedherearedaily3
boxreversalP&Fcharts.Nexttimewillwriteonsomeinterestingformations
of1boxP&Fcharts.

PrashantShahisaCharteredMarket Technician(CMT)
and Certified Financial Technician (CFTe) recognized by
MTA and IFTA respectively. He is having more than 8
years of Capital Market experience and currently
workingasAssociateVicePresidentwithIIFLinPune.Youcanreachhimat
Prashant.shah26@gmail.com.

14|ATMASPHERE NOVEMBER2012

ATMASocialAwards

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every day. Yet a winning attitude is
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NOVEMBER2012 ATMASPHERE|15
Mostimportantpriority:CareerDevelopment
ofATMAMembers
Whyareweafterallpartofthisgrand
exercisecalledtheATMA,theAssociation
ofTechnicalMarketAnalysts?

To be excellent, to be renowned for our pedigree embellished with great

knowledgeandethicalconduct,tobesoundinourapproachatwhatwedo
inourprofession,tobetrusted,tobereliable,tobeempoweredwithanall
encompassingfeelingofbeingorganizedtogetherasabigteam?
Yes,perhapsallofthisistrue!Yet,allofthisisaimedatonekeygoalandall
of these goals will be fulfilled ONLY if each and every ATMAite is
empowered with the abilities, skills and attitudes to succeed at the career
eachhaschosen!
Right at the inception this vision was incorporated into the design of our
website. A powerful JOBSBOARD exists where not only our members can
build their fully visible CVs they can also build additional CVs with
anonymousvaluesinkeyfieldssuchasnameofcurrentemployeretc.etc.
All of us must TORTURE TEST this tool, now and as many problems or
errors or deficiencies are found must be noted and written to
webmaster@atmaindia.net. Have patience while you critique the
deficiencies! Dont stop at just pointing out what is lacking, but have the
tenacity to stretch your thinking into proposing a solution. Difference
between criticism and leadership is that leaders identify what is missing
and figure out how to fix it! Own ATMA now! Some few of us atthe fight
aregettingboredofbeingitssolitaryowners.

Now,themoreimportantpoint:
Those amongst the ATMA membership who have a vision, a strategic string
of thoughts in place, who have had their brush with changing several jobs
andwhowouldknowhowtheinnerworldofHRMmightbeworking,please
polishyourshoesandstepforwardyourbestfoot!
I have to build on an EMERGENCY basis a POWERFUL, INDEPENDENT &
FUNCTIONALCareerDevelopmentCommittee
Why cant we host some webinars inviting Social Media Gurus who can teach
ATMA members how to promote themselves in a dignified way on Twitter,
Facebook,LinkedIn,Klout,GooglePlus?WhycantwebringinsomePartnerof
a global recruitment firm to teach our younger ATMA members how to write
good CVs and cover letters and how to network to be on the frontline for
discoveringthebestjobs?
GotakealookattheCareerDevelopmentCentreonthewebsiteofourparent
organizationthehttp://www.mta.org
I need a team of strongwilled, independent minded mad men and women
who have a solitary goal: beat Sushil Kedia & his early team & create an
admirableCareerDevelopmentCentrewhichisatleastatparwiththeMTA
andperhapswaymore!!
GetgoingATMA!Longwaytogoandyestheworldmustyieldtheplacetous
theTechnicalAnalyststhatwedeserve!
DoesATMAbelongtoyou?Ifnot,whodoesitbelongto?!
Then within the Jobboard is a feature for incorporating the profiles of your
companies with a nice write up and logo you can make yourself a featured
employer on this powerful tool that this mad 43 year old man could envision
even at inception when he had no ideas of how a website is built. If I can
stretch my brain and body so far, whatstops you mightier younger, energetic
smarterfolkstobeatmeblueandblack?
16|ATMASPHERE NOVEMBER2012
BOOKREVIEWADXcellence

REVIEWEDBYSUMEETJAIN

Author:CharlesBSchaap
ISBN10:0977713210

AbouttheAuthor:CharlesB.Schaap,Jr.,D.O.isanorthernCalifornianative
andgrewupinthebeautifulRussianRivervalley.Thesonoftwo,smalltown
physicians,hepracticedmedicinefor15yearsbeforetransitioningtothelife
ofafulltimetraderofequitiesandfutures.HeistheauthorofADXcellence
Power Trend Strategies (2006) and Invest with SuccessBig Profits for Small
Investors (2008). Dr. Schaap has written numerous articles for trading and
investment publications, broadcasted many educational webinars, and is a
soughtafterspeakeratinternationalconferencesontrading.
ADX was developed by J. Welles Wilder and first discussed in his 1978 book
New concepts in Technical trading systems. So here is a book entirely on
ADX. Many basic concepts on DMI and ADX can be easily found on the
internettoday.AlmostallofthechartingsoftwaresavailabletodayplotADX.
ManytrendfollowersalsouseADXasaprimarytool.
The big difference is this book offers is the understanding about ADX. Right
from stock selection to its usage in trading systems and spotting attractive
trading opportunities, proper entries and exits. All using the ADX, yes, this
book covers it all. There are many books available in the market that try to
explain overall picture and do not get into the details. That is not the case
here.YouwillfindeverythingthatexistsabouttheADXindicatorhere.There
arealotofgraphsinthebookandwhilegoingthroughyouwouldnevermiss
that.Nicepictorialpresentationsaboutcrossovershavebeenput.
ADXcellence explains you everything about the indicator. What is not
covered in this book then? Well if you are looking for money management
concepts and details on position sizing, they are not covered here. Some
important concepts like expectancy of trading strategies mentioned in the
bookarealsomissing.
In all the book consists the most succinct and straightforward discussion on
ADX.Amustreadfortrendfollowersandwerecommendthatthisbookmust
be read. And for those who are into Trend following systems, it is a must
haveinyourreadinglist.

Mr. Sumeet Jain is a Senior Manager, Institutional Research Desk, Asit C

Mehta Investment Intermediates Ltd., Mumbai. You can reach him at
sumeetsj@gmail.com
NOVEMBER2012 ATMASPHERE|17
"I am surprised & IMPRESSED that you have
criticalmasstoholdawomenonlymeeting!Its
a wonderful thing if you can pull it off. Id love
tospeaktothegroupsomeday"
KatieStockton,VicePresident,MTA
SolicitingWomen
Volunteers:
While a formal new fully
empowered Committee
isbeingbuiltasWomen
in Technical Analysis
you are welcome to join
all other Committees
too!

ATMA will fund an extra monthly meeting on any good educational topic
EACHMonthforATLEASTthenext12monthsundertheWomeninTechnical
Analysisserieswherethespeaker,thedelegatesandthevolunteerswillallbe
women.Awellappointed80seaterconferencehallwithallmodernbusiness
amenities in perhaps one of the most secure & safe buildings of Mumbai
right at a well known Commodity Exchange is being worked out as a
permanentvenue!
This would make Mumbai the only city in the world of Technical Analysis
wheretherewouldnowregularlybeTWOmonthlymeetings,itwouldalsobe
a first of its kind anywhere in the world, Educational Monthly Meetings only
forwomen!

WomeninTechnicalAnalysis

ANecessaryInitiative:

Are markets a mans world? Is Technical

Analysisamansdomain?Answerisclearlyno,
since markets as the final masters are the
ultimate level playing field. Yet, for various
legacy reasons markets have continued to be
dominatedbymen,sofar.
Increasinglyalargerandlargerpercentageofwomenareexcellingatmarkets
and we do know many good Technicians such as Connie Brown, Louise
Yamada, Katie Stockton to just name a few have made their mark on the
globe! Its time for India to discover its own Ms. Browne, Ms. Yamada & Ms.
Stockton!
The goal clearly is also to include any number of women Technical Analysts
youknowandwhoarenotyetATMAmembers,tobringtothemainstream.
Speak to them, let them know the exceptional work ATMA has been
producingandgetthemtobecomememberssothatthereareatleasta100
womenmembersofATMAintheverynearfuturetotakeyourrepresentation
toatleast20%andhopefullyasnumbersgrowthespiraleffectwillsomeday
takeyoucloserto35%orevenmorethan50%!
Ofthe500+membersofATMAactiveatthispoint,only24arewomen.That's
an abysmal number. The truth is a far bigger percentage of women are
technical analysts than the percentage women members in ATMA! Why? I
dont have any good answer, but would guess that networking, professional
link building and such other extracurricular activities havent been easier for
women.
Here is a special initiative for You the women Technical Analysts of India,
waymoreorganized,crisperandresourcefulthanwhathasbeendonesofar
forthegeneralmembership,atlarge.
We've have instituted a separate committee
altogether titled, "Women in Technical
Analysis".Ifyoucanthinkofabetternamethat
may be turned easily into a good &
RESPECTABLEacronymusingthefirstlettersof
eachword,pleasedosuggest.
So here is a special committee to be comprised
ONLY of women, FOR the women and BY the
Women at the ATMA. Your mandate as a
Committee is way larger: To represent, ascertain,
decipherandthenachievethegoalsforWomenin
TechnicalAnalysis.
OhtheWomenTechnicalAnalystsofIndia,write
to us for membership enquiries on:
membership@atmaindia.net and for
volunteeringonvolunteer@atmaindia.net!

18|ATMASPHERE NOVEMBER2012
8
th
ATMAPUNEMEETING
Date:6thApril,2013
Venue:MCCIATradeTower,ICCComplex
AssemblyHall,Mumbai
Timing:1.45pmto5.00pm
Speaker: Mr. Sanjay Narayan Mahajan, exATMA Pune Chapter
Head. An exCognizant employee and a Chemical Engineer, he is the
founderofSumoGains,aResearch,AdvisoryandTrainingcompany
providing training in Technical Analysis. He is currently pursuing his
CMTcertification.
PointsofStudyinBrief:
WhatisHybridAnalysis?
Why, When & for whom the combination of Technical and
FundamentalAnalysisresearchcouldyieldoptimumresults?

FORTHCOMINGEVENTS

NOVEMBER2012 ATMASPHERE|19
8
th
ATMAKOLKATAMEETING
Date:2
nd
February,2013
AttendedBy16participants
HeldatMangalamBusinessCentre
TopicofstudyVolume,OpenInterest&Volatility
Presented by Mr. Vivek Joshi, Technical Research Analyst by
profession with an experience of around eight years now. A PGDBM
from IMT Ghaziabad and a science graduate, he writes his own blog
http://madaboutstocks.blogspot.com.
FocusoftheMeeting:
Importanceofthevolume,openinterest&volatility
indicators
Howtoanalyzevolume,openinterest&volatility
Howdoesvolume,openinterest&volatilityhelpinbetter
analysisofMarkets.

28
th
ATMAMUMBAIMEETING

PASTEVENTSUPDATES

Date16
th
February,2013
AttendedBy60Participants
HeldatAssemblyHall,St.XaviersCollege

TopicofStudyRiskmanagementtechniquesintrading
usingAverageTrueRangeandVolbands

PresentedbyMr.GnanasekarThiagarajan,HeadCommtrendz
Research,acommodityresearchandadvisorycompany.Hewasamarket
makerintheG7currencies,quotingpricesconstantly.Aconsultantand
advisoryboardmember,MCX,hewritesafortnightlycolumnforThe
EconomicTimesblogsiteonGlobalcommoditiesandForexmarkets.He
wasrecentlyawardedTheBestMarketAnalyst,fortheCommodity
marketsbytheFMofIndia.
FocusoftheMeeting:
Ariskmanagementsystem,whichusestheAverageTrueRangeand
combinesitwithotherstatisticalmodelstoidentifyfalsetrendingmoves.
AreliablemodelcalledVolatilitybandstoplaceidealstoplosspointsfor
bothintradayandpositionalmoves.
20|ATMASPHERE NOVEMBER2012
11
th
ATMABANGLOREMEETING

9
th
ATMAKOLKATTAMEETING

Date:17thFebruary,2013
AttendedBy:40Participants
Heldat:SriBhagawanMahaveerJainCollege
Topicofstudy:AnUnconventionalApproachtoTechnical
Analysis
PresentedbyMr.BharatDugar,CMTandaportfoliomanager,
heconsiders technical analysis to be the key input in the stock
selection criteria. Tweaking of existing technical analysis axioms
tomakethemmoreeffectivehasbeenhisforte.
FocusoftheMeeting:
An unconventional & fresh look at basic technical
analysis
SimpleBarSetups
ChartPatterns
Indicators
RelationbetweenfundamentaldataofUSA&India
EconomicIndicator
Date:9
th
March2013
AttendedBy:20Participants

Heldat:ThePalladianLounge

Topicofstudy:
RisewithElliotWaveandOpenDiscussionofTradingSetUps
PresentedbyDr.SanjaySinha,M.V.Sc(Micro)Goldmedalist,
PGDFM,MBA(IM).HeisaDirectorwithM/S.NarnoliaSecurities
Ltd.&exclusiveregionalpartnerofM/S.MotilalOswal
SecuritiesLtd.
Mr.SushilKedia,B.Com.GraduateCWA,PGDBM,M.Sc.(Fin
Eng),FRM,CAIA,CMT.AFounderPresidentoftheAssociationof
TechnicalMarketAnalysts,heservesontheBoardofDirectors
oftheMarketTechniciansAssociation,Inc.andisfirstAsianever
tobeelectedtothisposition.
FocusoftheMeeting:
HowtoanalyzetheTrendinalltimeframes
Usetechnicaltoolsincombinationwithfundamentaltoolsto
determinedirectionoftrend
NOVEMBER2012 ATMASPHERE|21
7
th
ATMAPUNEMEETING

29
th
ATMAMUMBAIMEETING

Date:10
th
March2013
Attendedby20Participants
HeldatBVRaoHall,Pune
TopicofStudyCombiningFibonacci&TimeCycleswithElliot
Wave
PresentedbyVishalDalvi,B.E,MBA,CMTandacofounderat
Waves Research & Advisory Pvt. Ltd. An Affiliate memberof
Chartered Financial Analyst Institute and is a CMT Level II
candidate, Vishal worked with Infosys Technologies Ltd. for two
yearsasasoftwareengineer.Currentlyheisanactivetraderand
manages Fund at Waves Research & Advisory Pvt Ltd using
varioustechnicaltools
FocusoftheMeeting:
HousingPriceIndex(HPI)
ConsumerConfidenceIndex(CCI)
ConsumerPriceIndex(CPI)
Combiningitalltogether
Date:23rdMarch2013
Attendees43Participants
HeldatXaviersAssemblyHall
TopicofStudy:AmplifyingTechnicalsusingEconometrics
Presented by Mr. Shubham Agarwal,Head of Technical
ResearchatMotilalOswalSecuritiesLtd.ACMT,andaCFA,Heis
a regular face of various media channels / newspapers and his
methodologyofresearchputshiminaleagueofhisown.
FocusoftheMeeting:
Whyconventionaltechnicalpatternsandstudiesare
becomingredundant?
Understandingsocialbehaviorusingeconometricmodels
Correlationandzscoreindicator
Howtosynergizeeconometricsandtechnicalanalysisfor
greaterobjectivity
Newparadigminintermarketanalysis

22|ATMASPHERE NOVEMBER2012
12
th
ATMABANGALOREMEETING
Date:24thMarch,2013
Heldat:SriBhagawanMahaveerJainCollege,
ConferenceHall,Bangalore
TopicofStudyStockpickingforIntradayTrades
usingTechnicalScreeners
PresentedbyMr.AnuraagSabooaTechnicalAnalyst,
atTradersCockpit.comisresponsiblefordrivingtheTechnical
AnalysisSoftwareroadmapatTradersCockpit.com.APGDMfromIIM,
BangaloreandElectricalandElectronicsEngineeringfromIITChennai,
hehasbeenactivelytradingEquitiesandCommoditiesonIndian
exchangesforover6years.
FocusoftheMeeting:
FractalsandPivots
StochasticsandCandlesticks
MultiTimeFrameScanning
SuperTrendIndicatoretc.
MultiTimeFrameScanning
20
th
ATMADELHIMEETING
Date:23
rd
March2013
AttendedBy65Participants
Heldat:IndiaInternationalCentre(AnnexBuilding)
LectureHall2,NewDelhi
TopicofStudyRulebasedTrading
PresentedbyMr.BharatChugh,founderofB.C.Consultants(BCC),
areputedandtrustedprovideroffinancialservicestoitsclients.He
hasbuiltastateoftheartinfrastructurewithworldclasstoolssuchas
AdvanceGETandMetastock.Hehasdevelopedmanyinnovative
ProductsandInvestmentstrategiesthathavestoodthetestoftime.
FocusoftheMeeting:
Knowwhattotrade,whentotrade&howtotrade.
InvestmentderivativestrategytomaximizereturnfromtheIndia
growthstory.

NOVEMBER2012 ATMASPHERE|23
ATMAWEBINARSERIES1
Date:11
th
February,2013
AttendedBy:30Participants
Topicofstudy:RelativeStrengthIndex
NewInsights
PresentedbyMr.VishalMalkan,founderof
MalkansviewanInstitutewhichprovidestraininginTechnical
Analysis&BehavioralFinance.ACMT,heisaproprietarytrader
acrossvariousassetclasses.Hetrains&mentorsprofessionaltraders
andisaFacultyatBSETrainingInstitute,D&BTrainingSolutions,NSE,
etc.
FocusoftheWebinar:
DivergenceisaMyth
RangeShiftBehavior
ReverseDivergence&PriceTargets

ATMAWEBINARSERIES2
Date:18
th
February,2013
AttendedBy:25Participants
Topicofstudy:IchimokuKinkoHyo
PresentedbyMr.AnilPadia,HeadR&DDept,KediaSharesand
StockBrokers.HeiscurrentlytrainingtheTreasuryDepartmentof
RosyBlueLtd.tomanagetheirForex(hedging&prop.desk)
operationsandisempanelledwithICICIDirecttotraintheirclientsin
DerivativesandTechnicalAnalysis.
FocusoftheWebinar:
Ichimoku Kinko Hyo trading system a multifunctional trading
systemthatidentifiestheTrendatitsnascentstage&filterstheNon
Trendingphaseout.
Measuring the strength of the trend & providing
Resistance/Support levels where positions can be initiated or
liquidated.

WEBINARSERIES

24|ATMASPHERE NOVEMBER2012
ATMAWEBINARSERIES3
Date:25thFebruary,2013
AttendedBy:25Participants
Topicofstudy:JisekiTrading&RiskManagement
Indices
PresentedbyMr.MukulPal,FounderofOrpheusCapitalsisaCMT,
MBAFinance.Anactivetrainerandspeaker,hehasconducted
trainingprogramsforThomsonReuters,OilandGasForumRomania,
BombayStockExchangeandCanadianSocietyofTechnicalAnalysts.
FocusoftheWebinar:
JisekiTradingastatisticalapproachtoshorttermtrading.

CreatingOrpheusRiskManagementIndices,developedby
OrpheusCapitals.

TheORMIIndex

NOVEMBER2012 ATMASPHERE|25
26|ATMASPHERE NOVEMBER2012

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NOVEMBER2012 ATMASPHERE|27