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.
I was watching the Nifty crawl slowly to 4140 today and on an impulse checked my previous projections again. These projections I had posted on my Blog on 4, 5 and 6 December 2006. A lot of water has passed under the stock market bridge since then, almost six weeks. For those interested, check the following link. http://dusant.blogspot.com/search?q=target
It was expected that the Nifty would start correcting on Wednesday or Thursday. It does seem that our expectations have not been met. Frankly, it is unbelievable that such an occurrence is taking place. I have started getting messages asking me when we can expect a correction. This is a dangerous sign for fresh bulls. Bulls who want to enter the market will lose their patience and then enter at higher levels.
On Thursday too, the Nifty moved within a tight range throughout the day. The only difference being that there was a bull shock today, when the Index plunged sharply today. In my very humble opinion, this sharp fall has triggered quite a few stops of bulls, and now these bulls will be waiting to re-enter the market. Which could … just could push prices up higher. In that case, we could have a higher closing on the Nifty Future, this settlement.
The Nifty up move was again capped at the rising trendline. If this trendline is violated convincingly, we could have a massive and quick bull run.
The mood is still bullish. So it is suggested to stay bought. With tight stops, of course.
Trade happy.
6 comments:
Sirji ! I am a bear at heart. but your wisdom as a bull is taking over me slowly and steadily... feeling much better with the interpretations like how u mentioned with - bull shock, bull sl getting triggered, higher series close, etc !
I am truly humbled by ur guidance. Do continue to serve the society with your wisdom.
reg
ketan
Caveat: i still feel mkts will close on 25 jan below 3940, last month close ! haha
Hi Ketan ,
How you predict market will close below 3940 by Jan25 . Are there any technical pointers ?
If No , You are not following Dusantji's word .Just foloww the trend ,No assumptions , no blind targets .Just follow the trend wheter it takes you to 3940 or 4200 >just foloow it to be in profits .
Happy trading
Naresh
I am a lunatic bear, so i always try and short the mkt on every rise. one day i will get it right. haha. u follow the mkts up and i will follow u down ! haha,
reg
ketan the crazy bear
post script: Also, i dunno how to follow the mkt, could anyone guide me with details ??!!
reg
ketan
ketan,
Just apply common sense and read what the market is trying to tell you.
Maybe with a little help from what I am posting.
Dusant
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