Indian Charts: L&T.

Saturday, July 16, 2011

L&T.

Its weekend . So I decided to take a look at the Nifty HEAVYWEIGHTS.Its 4t largest in nifty index with 5.96 %weightage.

We see that it has travelled the 50% retracement . 2 times in the near PAST it has tried to climb past it but failed. Also HITTING 2 important TREND lines. Though has rallied for 3 days, STOCHASTICS have not moved and pointing DOWN MOVE. Volume MA shows rally for the past weeks have been on decreasing volume. EXPECTING the stock to move down wards.

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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, July 16, 2011

L&T.

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