THIS is what i wrote here on 9 th feb-10......................
""traders are buying on HOPE now,,as they were selling in the same HOPE ,when the markets were going up,,,all must try and understand that..any rally upto 4950..will be a corrective one and only to sell..with an sl of a close above 4955.
it was a huge rally from october-08 and march-09 lows...its a huge correction on the downside unfolding slowly.
in 2008 it was usa,,this time around its europe.so take care in longs,,especially overnight longs.
for investors its simply time to stay in cash.""
it was a huge rally from october-08 and march-09 lows...its a huge correction on the downside unfolding slowly.
in 2008 it was usa,,this time around its europe.so take care in longs,,especially overnight longs.
for investors its simply time to stay in cash.""
with a very good trading system that i have,,as nifty crossed 4826 on 16th..i gave plenty of buy calls,,,including a buy on nifty / 4900 call / icici / hdfc / hdil / axis bank ...all were significantly profitable intraday--next day morning...but as on thursday..nifty could not cross 4917..i advised tp exit all longs if any.....
as explained here on 9th..4950 was the most important level for me and nifty high was 4926.
as per my weekly analysis..after a weak hammer like pattern last week...indices could not produce a reversal pattern on weekly charts.
this indicates that we are on to test 4665---4612--4536..in the coming week.
for this we need a sustained move below 4777.
reality was the weakest sector,,clearly suggested here a few weeks ago...the chart says it all.
No comments:
Post a Comment