dear ranga sir,,,will try to post a detailed answer..to all hidden questions..POST PATTERN...comment of urs on my 1 min chart is valid..my reason to publish the chart,is that how ,i can take faster twist n turn in this volatile market,another reason is that,i already mentioned abt correction upto friday was tobe bought at dips ,for tgt 5330 on tuesday and next day ,i gave supports at 4924..now i just wanted to show, how even 1 min chart can be helpful in spotting a turn a little above ..:generally known supports/resistances..(i hope you remember,top hns post budget..when every single person knew tgt was around 3750..markets turned before that figure was seen.}
this is market for you..its collective mass psychology working,and hidden jealousy of every human mind,when gets collective,will never allow ,a normal trader to earn money, that easily,especially if you are stuck with ,what you think abt markets.
here is what i wrote on last tuesday..........
Posted by: bjnaik on 18-NOV-2009 (07:30:31) [IP address: 184:53:134:----] [delete this message]
expect a small correction from here,,and if the correction remains mild,upto friday..we will be reaching new highs for nifty around 5330.nifty lvl to watch if any short term correction stsrts is 4860.buy on dips till that lvl holds, should be the trading strategy.
this is market for you..its collective mass psychology working,and hidden jealousy of every human mind,when gets collective,will never allow ,a normal trader to earn money, that easily,especially if you are stuck with ,what you think abt markets.
here is what i wrote on last tuesday..........
Posted by: bjnaik on 18-NOV-2009 (07:30:31) [IP address: 184:53:134:----] [delete this message]
expect a small correction from here,,and if the correction remains mild,upto friday..we will be reaching new highs for nifty around 5330.nifty lvl to watch if any short term correction stsrts is 4860.buy on dips till that lvl holds, should be the trading strategy.
dear ranga sir,,regarding sbi hns..i hope you understand ,that my duty is to warn traders/readers of any move in advance ,as early as possible..now the hns pattern is clearly visible,bt it gets commpleted ONLY on the breach of the neckline..so in the coming rise..as 5330 was tgt given for nifty,a positional trader can take short position in sbi first..on the very first signs of weakness..near nifty tgt and IF the pattern remains intact,even before the breach of the neckline..one has to observe if the so called pattern SHAPE remains INTACT !!!!!..hope you get my point.
also sir, at times,markets do generate clear cut signals for me..as the one..when i wrote here.."NIFTY WILL ZOOOOOOM ABOVE 4655"..bt market at times take U TURN on intraday basis..no one knows the precise timings..thats why.i wrote on tuesday itself..THAT BUYING ON DIPS SHOULD BE THE TRADING STRATEGY TILL 4860 HOLDS..
and markets turned sharply up yesterday just before the supports at 4924 !!!!
AND SIR,please note the timing of my chart..it was just before 2 pm,,right ?..now nifty reached 5077 from 5035,after i posted my chart,so there was enough time still left to cover shorts,for whom,who believed my tuesday comments.
also sir, at times,markets do generate clear cut signals for me..as the one..when i wrote here.."NIFTY WILL ZOOOOOOM ABOVE 4655"..bt market at times take U TURN on intraday basis..no one knows the precise timings..thats why.i wrote on tuesday itself..THAT BUYING ON DIPS SHOULD BE THE TRADING STRATEGY TILL 4860 HOLDS..
and markets turned sharply up yesterday just before the supports at 4924 !!!!
AND SIR,please note the timing of my chart..it was just before 2 pm,,right ?..now nifty reached 5077 from 5035,after i posted my chart,so there was enough time still left to cover shorts,for whom,who believed my tuesday comments.
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