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.
It does not require a genius to suggest a trading plan when the market gaps down.
We are approaching our target date of 9 Mar where a change of trend was suggested to be expected. And since the trend is down as of now, we could see a mild retracement upwards. At this point in time, short term traders may wait for a bullish setup on the hourly charts to buy, and longer term traders could wait for the buying setup on the daily charts to buy.
For extremely active traders, the shorting opportunities could be ending within a couple of days. In fact, we could see a bounce back tomorrow. From all indications, we could see a significant bottom tomorrow. The reason being that when we see panics, big money is normally buying.
Till then, do not trade and be happy.
1 comment:
Sirji, are we not still in a down trend for next 10 days atleast before we bounce meaningfully ??! are we not already in a bear market below 3800 / 12800 ??
The kind of correction that we have seen, is there not more than that meets the eye ??!!
kindly advise !
Bear at heart !
reg
ketan
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