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.The market is telling us that no one wants to take positions aggressively for a simple reason. We have a major financial event around the corner. According to a time analysis, earlier I had anticipated that the market could continue positive till 8 or 9 of March. From the behaviour of the Index, it now seems that the market could continue sideways to weak till that time.
For smaller traders, it may be suggested to take a vacation. Allow the entire impact of the budget to be assimilated by the MBAs, allow the market to reflect their assessment of the situation and how the big boys want to play it, and then enter the market, hanging on to their tail coats.
The chart already shows the various supports, resistances and the congestion zones. Allow the market to confirm the zones, and then take any positions.
5 comments:
ITS HAPPENED ! ironic, exited puts yesterday ! haha !
Next time inspector gadget, next time !!
reg
ketan
sirji ! late wed rally lasting upto friday till 3980 or 4040. Then ? do we see 3200 on nifty by 15 march ??
reg
ketan
The first hurdle now is 3850 which supported nifty in the last 2 days .
Should we avoid new investment till 8th march? or start accumulating value buy for long term?
hello harshad m,
Allow the trend to change to up. Then accumulate to your heart's desire.
A trader always loses money when (s)he tries to anticipate a bottom.
Dusant
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