Indian Charts: January 2013

Saturday, January 12, 2013

Nifty :--Pattern Watch

So ..are we doing that move towards 6200 from here or is there (little)more fall.....before we go for a rally...
in the post below i said we are doing a consolidation before we head for a Major 350 + pointer rally....I had shorted at 5950 level ..but this thing went some 80 odd points more than I thought.....Added more shorts at higher levels...

So look at the 2004 chart again....see the area which is underlined with red Horizontal bar...

And see a smaller fractal....the 1 minute chart from 21st sep when we saw a big 160+ point blast ....area marked between 2 horizontal bars....

So the NIFTY pathway that's on my mind is shown by BLUE lines...

So that means more fall till 5840...and then we rally ....what do u think...lets see...

Words of WISDOM

"The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."

---Jesse Livermore

"What beat me was not having brains enough to stick to my own game – that is, to play the market only when I was satisfied that precedents favoured my play. There is the plain fool, who does the wrong thing at all times everywhere, but there is also the Wall Street fool, who thinks he must trade all the time. No man can have adequate reasons for buying or selling stocks daily – or sufficient knowledge to make his play an intelligent play."

--Jesse Livermore

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Saturday, January 12, 2013

Nifty :--Pattern Watch