Insight into why the NIFTY is probably heading down
- Thread starter SwingKing
- Start date
On weekly chart, Nifty is showing distribution.
any close below 4950 may cause it to move towards 4680-4700.
and, I dunno where it will go; but the fact that recent upmove candle of the week ending 24 Dec (on weekly chart) is not carrying volumes while the remaining candles are accepting the resistance with slightly enhanced volumes, which indicate distribution to me.
any close below 4950 may cause it to move towards 4680-4700.
and, I dunno where it will go; but the fact that recent upmove candle of the week ending 24 Dec (on weekly chart) is not carrying volumes while the remaining candles are accepting the resistance with slightly enhanced volumes, which indicate distribution to me.
Warning : I am very new to TA!!!
I feel that the market on Monday will give a GAP UP opening!!! It may or may not sustain the up move. The Friday Candle has jumped far away from Bollinger Band and the same should revert to mean, move back towards the MA!!! On checking historically found the above to be true : Price tending to revert to mean after jumping away from Bollinger Bands!!
I feel that the market on Monday will give a GAP UP opening!!! It may or may not sustain the up move. The Friday Candle has jumped far away from Bollinger Band and the same should revert to mean, move back towards the MA!!! On checking historically found the above to be true : Price tending to revert to mean after jumping away from Bollinger Bands!!
Hi, Well you may be correct. However my observation comes from seeing the EOD Charts of past few years where it happened the very next trading day, however on few occassions it continued the trend and in a few after staying there for just a single session reversed back in it original direction!!!
I am totally out of market, no positions in hand other than my LT portfolio!!
I am totally out of market, no positions in hand other than my LT portfolio!!
Going Forward
Well, all of a sudden concern's are beginning to emerge about all sort's of economic issues. Sometimes, I feel like laughing on these so called analysts who lack conviction in what they say. The list in endless and hence there is no point in taking name's here. However, there is one name I would like to mention and that is of Mr Ashu Dutt (CNBC News Editor). Mr Dutt was all gung ho when the market's were trading at 4900. I think he gave a list of zillion reasons as to why the market's cannot breach 4800. Now that it has, today he was saying all the signs of such thing happening was always on cards and now it may slip further. After sometime, he started pointing out that now technically stocks are oversold and they might bounce back. This is just to warn new trader's that what you know is not different from what these guys know. Don't fall into trap by listening to all such market noises.
Anyway now coming back to the main point ... Where do we head from here ?? The way I see, we are over reacting as far as threats on other economies are concerned. If a spain, greece or portugal collapses, it has no relevance (barring psychological) to India. Short term reactions are going to be there and such times are optimum for long term investments. There are some threats on our economy (possibility of a not so good budget, fiscal deficit etc), but market's have taken care of such things earlier and there is no need to anticipate affects of such events. Some of the shares are now looking attractive and are good buy's as of now. Momentum usually takes stocks much lower and we might see some further weakness. However, the likes of 2008 repeating looks bleak. For those who have had an eye on some stocks, this is ideally a good time to accumulate. At this moment take a little long term view and avoid trading.
Tc.
Well, all of a sudden concern's are beginning to emerge about all sort's of economic issues. Sometimes, I feel like laughing on these so called analysts who lack conviction in what they say. The list in endless and hence there is no point in taking name's here. However, there is one name I would like to mention and that is of Mr Ashu Dutt (CNBC News Editor). Mr Dutt was all gung ho when the market's were trading at 4900. I think he gave a list of zillion reasons as to why the market's cannot breach 4800. Now that it has, today he was saying all the signs of such thing happening was always on cards and now it may slip further. After sometime, he started pointing out that now technically stocks are oversold and they might bounce back. This is just to warn new trader's that what you know is not different from what these guys know. Don't fall into trap by listening to all such market noises.
Anyway now coming back to the main point ... Where do we head from here ?? The way I see, we are over reacting as far as threats on other economies are concerned. If a spain, greece or portugal collapses, it has no relevance (barring psychological) to India. Short term reactions are going to be there and such times are optimum for long term investments. There are some threats on our economy (possibility of a not so good budget, fiscal deficit etc), but market's have taken care of such things earlier and there is no need to anticipate affects of such events. Some of the shares are now looking attractive and are good buy's as of now. Momentum usually takes stocks much lower and we might see some further weakness. However, the likes of 2008 repeating looks bleak. For those who have had an eye on some stocks, this is ideally a good time to accumulate. At this moment take a little long term view and avoid trading.
Tc.
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well there is absolute no reason and market never look for a reason to make a move but create their own reasons after the move is done. At times its better to leave the smelling of coffee to the coffee makers and drink it while its Hot... unless you prefer the cold coffee...
I never believed that news make the market but market making news. Yesterday I closed a position in FX which was going way up on everything news, trend, anything under the sun you could imagine even all those indicators combined did that rally continue? no... plunged with over 200pips in a matter of 1 day.. yeah I was able to get most of it.
For the disclaimer read my signature, and trust me I would be probably among the few first people who will become a furious bull in this forum when I see its over for the bears.
I never believed that news make the market but market making news. Yesterday I closed a position in FX which was going way up on everything news, trend, anything under the sun you could imagine even all those indicators combined did that rally continue? no... plunged with over 200pips in a matter of 1 day.. yeah I was able to get most of it.
For the disclaimer read my signature, and trust me I would be probably among the few first people who will become a furious bull in this forum when I see its over for the bears.
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