Hourly high ema @4699, above that selling is likely to emerge..Supports in the region of 4640-4615.(5-Dma comes @ 4623)
It is not breaking past the 4660 decisively...a possible consolidation can bring it down upto 4550-4475 zone.
Hour continue to exhibit -ve divergences..As the prices reaching higher levels, macd is heading down..a clear stretched prices..Caution at higher levels..
4700-4750 will be the selling zone...Below the daily Pivot of 4683, falls may accelerate.
3 comments:
Sir...Could you also provide analysis of Dollar index..since it has broken through 2009 lows..how much further downside can we expect..2008 low was 76.15 ..if that gets conclusively breached then what happens...12k dow??
also since everyone has been tracking the dollar index and its co relation (with all the concept of flight of safety)..why is it so simple to say that dollar index starts rallying ,then you short equities...
i am finding it difficult to understand the psychology of participants here...when everyone says it with so much conviction that dollar falls .stocks rise...then whats the surprise ..is it all granted ..are bears waiting for this..wont bulls know it then..??
Thanks
Hi..Shaq,
Dollar index co-relation was spotted in one of the international blogs. Prices are confirming as a corelation.As long as $ is weak, money will be in equity mkts and once $ gains in strength against other currencies, the outflow from equity mkts will begin.Will post more on this later.
Shaq..I call it "Govinda.! Govinda.!" phenomenon. When you go to "Tirupati temple, you simply chant..."Govinda..Govinda" with the rest of the devotees. Similarly in the mkts too, at times logic & resons don't work..Just join the crowd..That is momenum driven by liquidity...pure & simple.
There are very simple methods of making money in the market but people gets swayed by the intra day tickers inspite of "Bulls & Bears knowing it"..Many don't have control over emotions.Detached approach only works.Inlife, too..
Best regards.
ilango
Well said..."Govinda, Govinda" . Lot of times I went alone in a separate queue and missed good darshan of "Nifty" many more times..
Quote : Many don't have control over emotions..
Me No.1 in emotion while trading...Now started and practising to cooling down...and doing trading...
Thanks and regards
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