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.
On Friday, it was stated … “It will be interesting to see what the market does on 15, 21 and 31 March.” And here is what I expect. Leading in to 15 March, I expect the short term weakness to continue, and from then on, we could see the Index making a short term top between 21 to 23, and a higher bottom on 31 March.
As of now, the short term trend is up, the intermediate trend is down, and the long term trend is still up.
This type of situation always scares traders to make mistakes and give money to the sharks. None of the sharks would probably be reading this blog, so I can safely make this statement, act like minnows, and satisfy yourself on the left-overs of the sharks.
Trading is an individual things, and everyone positions her(him)self according to her(his) time frame. Therefore, please buy according to your suitable temperament.
The 3684 and 3802 levels now gain significance, as is marked on the chart.
Trade happy.
3 comments:
Well the opposite is also possible.
Market could make a lower bottom (probably 3450 levels) in next few days or on ur range (21-23 Mar). And on 31st March, it could make a lower top (between 3700-3800 levels).
Why lower top on 31st Mar?
Because Sharks (MF managers and FII's) have to window dress their NAV's and they will never allow that their yearly/qtrly returns should show poorest ever results compared to last 20 quarters.
Anyway time will tell who's right. Cheers.
g.
Hello g,
Anything is possible in the markets, and I have calculated the time frames using a combination of various methods. They have nothing to do with the price. Only time.
When I am assuming that the short term trend is up, the scenario outlined by me seemed most probable.
And as we all know, we work with probabilities in the market, and take evasive action if our analysis is wrong.
It is not a question of who is right or wrong but only draw up a trading plan, according to the probabilities.
Cheers to you too.
Dusant
i understand sirji, but whatever is possible to be shared, u already ARE sharing, thanks a million again !
hope u win hands down, if there IS any litigation...
reg
ketan
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