Nifty for 18 Sep 07

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 has proved this humble analyst wrong again. It was anticipated that the 4450 level could be broken on the downside. The market has proved otherwise.

The short term trend is still up. In fact, the short term trend has reiterated its bullish behaviour today, by making a short term pivot.

There was some comment asking when we can short the market. At the risk of sounding offensive, I could suggest that the questioner must be daft, thinking of shorting the market when the trend is up. It has been suggested time and again that we could ride the trend rather than try and swim against the current. In my last 219 posts, spread over almost fifteen months, I do not remember having said at any time that the main trend is down.

In fact, we just seem to be entering the bubble stage, where the corner pan walla also becomes a stock market analyst. The market is not going to move one way. It is going to have its bad days and good days. It may be suggested to buy on dips.

Trades could be placed in the direction of the main trend.

Plan your trades and trade happy.