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 chart needs no commentary. The worldwide sweeping negative sentiment cannot be insulated from the Indian Markets.
If we expect the Nifty to take support at previous support levels, think again. We cannot expect to stop a running train with a feather. It was suggested yesterday that we could short on rises. However, the market did not give adequate opportunity to do even that.
The short term trend is firmly down. The intermediate trend has also moved down. The long term trend also is in danger of turning down. Therefore, take care.
I can only repeat this statement.
Let the negative sentiment be weaned out of the system and then think of buying again. Please wait for a short term bullish formation and then take a risk for buying. As we know very well, bottom fishing burns.
Trade happy after planning your trade.
1 comment:
Sirji ! how ignoring the "Bullish" setup can "cost" u !! now i realise the brevity of the situation ! thanks ! at least i did not lose money like hell this time ! even a bear like me turned bullish at 5600, but this mkt reality is beyond my wildest dream !
fact stranger than fiction ! hear and how !
reg
ketan
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