Indian Charts: Nifty Update

Monday, May 23, 2011

Nifty Update

Nifty rallied as I expected . But it was just for one day . Today nifty fell 100 points on the back of Euro crisis.
the best guess I can take here is that Nifty will bounce for a rally only when the lower Bollinger Band is HIT.
Most probably that would come at 5285 area. So its better to wait and Watch here. No longs and No shorts.

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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Monday, May 23, 2011

Nifty Update

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