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 was suggested yesterday, we are approaching a cluster of time cycle between 13 to 16 December. It does seem that the market has made a short term top today.
This up and down roller coaster could continue till 21 December.
From a trading perspective, the trailing stop is marked out on the chart. This could be used by readers to lock in profits. This is not an invitation to short. As was suggested some time earlier, let us learn to trade with the trend. Normally at this time of the year, the big players are planning on taking their Christmas vacation.
This leaves markets all over the world, vulnerable to manipulation on small volumes. Therefore, it may be advisable to sit on the sidelines till the “warehousing” fever starts, where our local players begin to accumulate stocks in the anticipation that the FIIs would start their activities after the New Year.
Trade happy after planning your trade.
2 comments:
SIRJI, how r ntpc (coz of IAEA) and rpl looking ??
Could you pleae post your analysis of BSE mid cap and small cap indexs, which have been scaling new highs every day.
Thanks and Happy New Year.
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