Indian Charts: Its the DEATH cross baby .

Saturday, March 5, 2011

Its the DEATH cross baby .

Next week is really important . I mean really really IMPORTANT. Its not always that you see a DEATH cross appearing on your charts . The NIFTY charts show that since January 2005 the death cross has formed only twice ; if we count yesterday's slight crossover . Once in May 2008 which is shown by that red arrow . yesterday the 50 EMA crossed the 200 EMA slightly .

We also see that 61.8% Fibonacci level is acting as SERIOUS SUPPORT . If that breaks , then all hell breaks loose. I think the Nifty will rally to 5679 and then head downwards confirming that death cross. And the rest of the story is known from previous experience.

Thanks.

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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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Saturday, March 5, 2011

Its the DEATH cross baby .

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