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.As we can see, trading can be boring for bulls. With no fresh triggers in the market, the trend continued on low volumes. It is at times like this, that the market is at its most vulnerable.
A sudden gush of high volumes and the market cracks. However, our job is not to predict tops, but to trade the market. And as is always prudent, keep raising our stops, so that we can lock in whatever profit we have earned.
With a few mathematical rules applied, we can see that the Nifty is giving us a short term potential target of 4455~4470. It is normally observed that the market tends to pause at these projected levels.
Questions were asked as to what exactly will happen on 17 July. Frankly, I wish I knew. If I did know, I could have made a killing on the market. It is quite possible that the 17 July may see a short term top or bottom. Who knows?
Technically the position still remains … as a suggestion to buy on dips.
Plan your trades and trade happy.
1 comment:
maybe it will be down, but we would have gone up 1000 pts till then no ?! so doesnt really matter !
reg
ketan
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