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.How boring … another new top. Today, the Nifty moved out of two short term projections with a gap. There was expected profit booking, and a convincing recovery too.
The chart shows our next expected frontier. Will it or won’t it? No point speculating on this question. That will not earn us money. A simple strategy of keeping trailing stops has earned us another ~150 points on the Nifty.
It was suggested on Monday that the Nifty has bounced twice from our earlier blue line/green zone, which was another short term projection. It was stated that this makes the green zone a significant one. Oh well, the Nifty did respect that level, and the result is there for us to see.
Plan your trade and trade happy. It is again suggested to keep the trailing stops intact, and enjoy the ride.
2 comments:
sirji ! missed all the action since i was travelling, will keep nose pointed up, and take the leap of faith, as suggested, despite all TAs in overbought zones....
reg
ketan
dush... wot kinda correction do u think will come in.. i havent seen such a run in equties atleast in my short span in mkts.. prolly u can give us some hints..
also wud it be fast in nature ?
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