Since past few days,i had been mentioning about some weakness in these rally"s leaders..i.e. auto and it stocks..look at the maruti chart and infy chart..and readers would understand how helpful technical analysis can be..since infy was to declare its results yesterday..i dont remember, if any analyst predicted a crack in its price. few days back i said weaknes in it/auto and i posted here my view with charts,,even after great results and even better forcast..infy contnued its down move.
Two reasons are there..one is a very simple fact that generally markets discounts the future...such good results have had been priced in...second my trading system generated a sell call two days back.
Nifty couldnt cross 5052 breached 4972 struggled there for 1-2 hours, but than at around 4980 my system generated a sell call in 15 min charts..and it crashed heavily.
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