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.Am I wrong in my analysis of yesterday? I do not think so.
I still feel from the charts, that this fall of the last few days has been a correction. We could still see the short term bottom for today, 14 Feb.
From the chart of the Nifty, we can see that the Nifty has tried to close a large gap, which was in the middle of last month. The earlier support level, which should have been a resistance now, has also been violated on its move up. Further, the candle pattern on both … the BSE as well as the NSE has long lower shadows, which is a suggestion of a significant bottom.
The Bank Index is contributing to the weakness in the Index in a major way. It can be due to the news from RBI. Apart from that, no major weakness is seen.
4 comments:
Sirji ! Noone will dare to disprove ur analysis. Just a more "Subjective" interpretation for individual understanding....
As suggested, the candle shadow has confirmed ur intermediate bottom !
Going long from today ! Do warn us in "explicit" terms when the next one comes - coz as u no, march series will see more retail leverage,since contract size will be halved ! haha, we just can control or salt eating habits !! (we know u are there for us) !!
reg
ketan
Ketan.
May I remind you that the market has proven me wrong, time and again.
The biggest benchmark is that the market proves my analysis wrong.
It was not my intermediate bottom but the market's.
Humbly,
Dusant
Truly humble, as always ! Hope mkts will not disprove u too and lifetime high will be achieved in Feb series itself !
reg
ketan
Enjoyed reading your blog...
Regards,
Active Daytrader
Livenewss.blogspot.com
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