Strange title for today’s Nifty analysis??? Well these are from a card game called UNO(Some people call it crazy8 when playing with a normal pack of cards).I just finished playing some games of UNO with my 6 year old daughter(she beat me to five straight games!!! So much to speak of my IQ!!!…some times I wonder why I am tryin2trade???).Coming back to Nifty, it was Skip A Turn (for the guys caught unawares on Friday…pay in pay out on Tuesday…year end…couldn’t do much with their delivery’s…operators day out!!!).It was Reverse(for Nifty, complete U turn from Friday…its funny how the bullish bias developed on one day is immediately discarded the next day).It was UNO(yet again for us coz we come first in terms of Highest percentage fall in Asia).
Speaking of Nifty we opened gap down(it seems to be a habit now with us, we are either gap up or gap down!!!). It was no looking back from their onwards. Big Daddy RIL, did try to provide some support initially….but to no avail. What could one single guy do, when heavyweights like ONGC and Banks were not willing to tow the line….and Cipla aint my idea of someone trying to make things easy. The chart above is plain vanilla…didn’t feel like drawing to much on it!!! If u made money today, here’s a parting note:
‘‘It requires a great deal of boldness and a great deal of caution to make a great fortune, and when you have got it, it requires ten times as much wit to keep it.’’
Ralph Waldo Emerson (1803–82)