Dear niftytaurus:
I have some doubt regarding this chart, I am not that expert reading chart but as you have seen market moved up today from 7500 level to 7700+ (200+ point) Is it EQUITY buying by some of the biggest group? i heard from a foreign friend that whenever the foreign investors purchase the Equities from open market, same time they sell its future same quantities, then after some period they cover their shorts and market will reach above 7700 .
For example they purchased Equites from 7500 level to 7700 level then they will sell stock future@7700 level... to bring down to 7500 level. their next trade will be purchasing NIFTY Future @ 7500 level and hold till stock future shorts to cover
once all shorts covered (stock future) market will be @ 7700-7900 level and their EQUITIES and NIFTY future will be in high profit. I am not that good in grammar pls excuse me.
Anyone notices this?
Hi Eseem
bro, I didnt get your confusion regarding chart..if you can elobrate it?
as a chart reader, we just see action of price on chart..what price is doing now..& trade accordingly..
what institution buying or selling has to do with it! whatever big institution do, it will come on charts eventually..every news ,every action discounted on price & we can see it on charts..
Frankly speaking, I never care or see what fii or dii is doing? As a retail trader ,we can never know what are they doing &what is their motivation? and we dont need to know that to be profitable in trading..whatever they are doing, the leave their foot prints & their trails on chart..we just read those footprints & piggyback our trade on winning party..
Honestly speaking, I dont listen news ,stories or rumors..as it creates bias in your mind about direction of market.which is very dangerous...I just look at screen which is enough..it has all information which is required to trade..I never give a chance to my mind to think what market will do next week, next day or next hour..I just see what its doing present..if market changes it mood next moment, I will change according to it..I dont know whether its right or wrong? as I am not experienced...but thats all I learned from my little experience..
bro, sach batau to FII & DII ,expert &analysist also dont know what market will do next..otherwise they make their mutual funds giving return 100% -200%..why its mere 15-20%..& all analyst will be billionaire like warren buffet..& in market time they will be churning money ,rather than giving their valuable time on Television..
so baton par mat jao, apni akal lagao...this business is a ruthless business..its liek a war..apney agar nahi kata to koi apko kat jayega..they have all weapons ..we retail trader have a very little edge..so use that wisely..
If still any confusion, do right..I will try to explain with my little knowledge
Thanks
