Indian Charts: MORE DOWNSIDE for NIFTY

Tuesday, February 8, 2011

MORE DOWNSIDE for NIFTY

You see that post just below. Well , I think we should forget about that Nifty 5450 target for a while now.See the chart below which is a 15 minute chart. I think 5028 is definitely on the cards. The patterns look so similar. The base of that falling wedge is around 5000. 5028 is the 261.8% extension of wave A.

I will keep on finding some more patterns. Keep SHORTING.

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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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Tuesday, February 8, 2011

MORE DOWNSIDE for NIFTY

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