Friday, April 26, 2013

The Nifty takes a one day breather

Friday saw a minor decline in the Nifty. This comes on the back of big gains seen for the past two weeks. One day is not the start of a correction.It is possible that markets can resume their rally.

Technical Traders should always go with the trend. The basic theme is: assume that the trend continues until proved otherwise.

[I will be in Kolkata on Saturday and Sunday to meet my parents. My visits to Kolkata usually coincide with a meltdown in the market. I wonder if this is a technical indicator?? This was in a lighter vein]


7 comments:

puru said...

Many people would get hurt by Ur statement

gourv said...

Hello Sir,

Yes your visiting kolkatta brings downward momentum.I can remember this happening last time.I am long on nifty.So please come soon :)

Regards
Gourav

gourv said...

Hello Sir,

Yes you visiting kolkatta brings correction in market.I can remember this happening last time.I am long on nifty.So please come soon :)

Regards
Gourav

Dinesh said...

Dear Sir,
That sounds interesting. Do you visit your parents around the month of May which is usually considering good for shorting rather than going long?
With so much of FII money (30 billions or so) already invested and more waiting to be deployed, do you think markets can fall significantly?
Whenever there is a rise in market, usually FII figures turn to be high for that day. So, there is a strong co-relation there.
I think whenever fundamentals improve, markets go up and FII money helps the market to rise more than it should have. That is the reason technical/fundamental analysts are not able to predict the strength of the trend correctly. It leaves everyone guessing and when you check the FII figures end of the day, you get the answer.
The other action that I have noticed is churning by FIIs. They do a lot (selling 3000 Crores and buying 4000 Crores in a day) and may be that explains the more than expected rise in the bank nifty.
Knowing all this does not help much and so we are still better off to follow the trend.
Not sure what your view point is?
Regards,
Dinesh

Rajat said...

This is a surprise to me that you belong to Kolkata, it seems that most passionate people for Trading strives from Kolkata, Sir, if one come to know that his Guru/God belongs to same city, it creates something I don't know what something is there between us.

Dinesh said...

Dear Sir,
An index resistance is based on price points of various stocks in the index.
If one stock goes up or down abnormally (like HUL rose 7% yesterday and 18% today), should the resistance level also change?
In the current scenario, should the Nifty resistance move up?
Regards,
Dinesh

trendzvolt said...

sudharshanji.u r teachingg plastic surgery signals to BHMS type doctors
till peple do not understand hedge fund operations..qe2/3/4


may be qe by india
till that is not understood by traders ...no meaning in putting headto yhe walregards suresh k[vol trader]