This one is all about Nifty 50 above their 200 MA!
Saturday, September 19, 2009
Thursday, September 17, 2009
A Nice Quote And An Intresting Read!
"October is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and February." - Mark Twain
A.K. Prabhakar is one gentleman I respect a lot; today received the following message from him on my yahoo messenger, his observations;
“Sensex View:
• Sensex closes @ 16month high
• Sensex has doubled from March2009 low of 8047 in just 6month.
Sensex from low of 7697 on 27/Oct/2008 has made a 16month high of 16700 on 16/Sep/2009 which is more than double in 11months, time wise Sensex has taken 216trading days to reach here and 223 is an important Fibonacci number which comes next week around Derivative settlement.
Also from March lows it has completed 130 days where 134 is a Fibonacci number again. Derivative is heavily loaded with PCR=1.63 and Overall market Open interest Rs. 1,14,426 crs and with just 5trading days”
Continue reading his views at akprabhakar.blogspot.com !
Wednesday, September 16, 2009
Sunday, September 13, 2009
A Double Top Or A Double Bottom???
Wondering what type of a pattern is depicted in the picture below…A Double Bottom? Or a Double Top? Perhaps both!
Well this is the beauty of Technical Analysis; it shows each exactly the thing what one wants to see! And to think of it there is nothing wrong in it after all the pattern is in the eye of the beholder. Its often be repeated that Technical Analysis is not an exact science, rather it’s a game of probabilities and you would be better off if you treat Technical Analysis like that. It doesn’t matter whether you see the correct pattern or a setup, but what matters is that you follow it with good money management. Coz the crux is in the good money management…it’s this, what keeps you in the game even if you fail 6 times out of 10.
So to sum up one man’s Double Bottom can be another man’s Double Top and both can be right as long as they trade it with a plan and with STOPS! Stops let you decide what you want to relinquish and accept you were wrong in your analysis! Trading is not about being Right Always it’s about being on the Right Side and the Right Side is not about making profits it’s about protecting what you have…try and you will see profits trickling in!!!
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