I missed out on writing the blog for a few days. then, I felt embarrassed at the absence and awkward in starting to write again. Therefore, more days elapsed, so more embarrassment and more days.
To break this cycle, I am writing this post to say that maintaining this blog is one of my favorite tasks each day. Not writing is my loss.
The Nifty has seen a spectacular decline and now seems to be making a trading range. Markets go through cycles of expansion and contraction. We saw the expansion process when the Index fell from 5400 to 4650. Now, we are probably in the contraction process. It seems that a trading range between 4700 and 4900 may be developing. These boundaries are tentative.
Now, trading inside a trading range is NOT a profitable proposition. There may be day trades, or trades that sell at resistance and buy at support. Except these methods, trying to catch a trend when inside a trading range is a losing proposition. The trend can reverse many times inside these boundaries.