These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.
From the chart of today, it already seems that the bad news of yesterday has been discounted, and the market is readying to make another surge upward.
On the chart, I have marked out the few operative congestion zones established during the last few days. These levels are now going to play a major role in the market movement.
If I am asked to stick my neck out, I would think that the market has made a corrective bottom here, and the trend should resume towards its original direction, that is upwards.
This is assumed by the continuous bounces, not only on the Nifty, but also on the CNXIT and Bank Nifty Futures.
All said and done, in volatile times, it is always advisable to hedge positions rather than being naked long. But those among us who are adventurous, could try their hand at bottom fishing.
Trade happy.
From the chart of today, it already seems that the bad news of yesterday has been discounted, and the market is readying to make another surge upward.
On the chart, I have marked out the few operative congestion zones established during the last few days. These levels are now going to play a major role in the market movement.
If I am asked to stick my neck out, I would think that the market has made a corrective bottom here, and the trend should resume towards its original direction, that is upwards.
This is assumed by the continuous bounces, not only on the Nifty, but also on the CNXIT and Bank Nifty Futures.
All said and done, in volatile times, it is always advisable to hedge positions rather than being naked long. But those among us who are adventurous, could try their hand at bottom fishing.
Trade happy.
3 comments:
How do you get data for all the analysis? Is it a paid source or free source? tanks
mr dusant's website is free currently ! haha !!
Most data is from nseindia, which is the bible for stok trading in india.
But MR dusant is the pope, who interprets the bible for us !! haha
reg
ketan
Sirji, u stuck ur neck out at rite time ! its rising !!(12 oclock, 21 Dec)
reg
ketan
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