Nifty pauses again, nearing "oversold"..

Many readers have shown interest and writing to me wanting to learn Technical analysis. For very new beginners, I want to say that it is like going to the market place to buy something or sell what you have. But to get the best bargain, you need to understand the "demand & supply" for that product. More the demand, the prices will be bid higher and more the supply(with less people to buy)lesser will be the price. If you spend some time to figure this one out, you will be in a better position to "buy low and sell higher."
In stock market too, the same logic works. But how do you go about finding this "demand & supply"...Yes..by studying the prices bid in the recent past..how high it was bid., how low it went..and where the last bid closed. I have covered the most minimum basics of Technical analysis and they may be found under "Technical Analysis" in my label section.
Start with:
1. Trend Following
2. Trendlines
3. Moving Averages.
4. Macd (Moving average convergence & Divergence)
5. Stochastics.
6. Tech. Table- Part.1 and Part-2. And the Tech. File.

Spend your holiday time & week ends to go over these study materials and practice them during market hours. The time spent and dedication shown will fetch you very satisfying results. After studying and developing a disciplined approach to trading and investing, the most important lesson you will realise is that " It is better to adopt a wait & watch approach (or sit tight in the direction of the trend) when you do not understand choppy markets and act only when you are satisfied with a compelling reason to employ your money".
Once you develop this "discriminating mind" to differentiate a trending market to a sideways market of different time cycles(week, day, hour), your expectations of the market will be so balanced that you will harvest like a seasoned farmer.
Just stay cool..Don't sweat it out. Simply try to understand the various forces at work. If you are relaxed when you are trading, you will make money. Anxiety has no place in this business..Sort that one out.
If you don't enjoy doing this, watch us play it and being a spectator, you will save all your money and still get plenty of action.

The choice will be resolved by the world markets on wednesday morning.

First attempt to go above the "Hour High ema" was promptly sold into.The day low ema needs to be conquered to arrest this fall.

This is a monthly scenario which has been discussed few months(Nov.09) earlier and its still playing out..Watch out for those support levels."B" waves are "sucker waves" and we are in the "b" of "B"..and that is a worst kind.