As Nifty is reading well above the weekly ema, this correction cannot go on forever. Trading your shorts during intraday was one way to enhance your earnings.
It has been correcting down from 5310 for the past 6 days without damaging the weekly TA.
If a reversal has to happen, it should come soon..
8 comments:
Dear Ilango,
1. Have sent you a mail.Kindly advise.
2. Very Happy Pongal to you,your immediate family and your extended family of bloggers.
We all know that it is the "Harvest Festival" and Sun god is thanked on this day. But, I read the following piece couple of days back.
Sun God is the father of Sani bhagwan. They are not in good terms and only one day in a year, Sun visits his son Sani at the later's residence. Sani's house name is "Makaram" (rasi-for which he is the lord of the house). Hence the festival name "Makara Sankaranthi".
Another piece of trivia. There are only three "Iswars" in our mythology.Lord Siva, the Parameshwar, Ravana the Lankeshwar, and Sani the Sanishwar.
Sani atleast is one of the Devatha. What great bakthiman Ravan must have been to the equated to "Ishwar"?
Happy Pongal. God bless you for your selfless attitude.
Warm regards,
S Rajagopal
Ilango sir - don't mind pls.
@ Rajagopal - U r right... "saniyum, suriyanum" onrukku onrukku agathu" (oops..still we can c in some family - father-son due or opposite-not in good terms)
Don't say "Sani atleast" and about Ravan.. all big story.. all that i can say.. if u want to know more details. pls. post your email id. will send u details in my free time "Sani mathiri kodukaravanum illai, kedukaravaum illai".
Happy trading day tomorrow.
Regards
Rajagopal Sir,
Not related to market, posting this just to correct- its not 'only one day in a year' that Sun visits Sani house. Sun changes house/rashi every month and stays there for a month, and each is called Sankranti. Kumbh rashi also belongs to Shani. So next month will be Kumbh sankranti. So technically, it should be two months..:)
-stockgrp
Sujatha/stock - What I have reproduced is what I read in ET. I was wondering about sons and fathers fight even if it is Gods !!!
About Ravan - I don't understand Sujatha's objection. Still will hold my appreciation for the cursed "Rakshash" who could demand "Shiva's" presence at will. Things have to go wrong for him so that he could be killed by "Vishnu" to get "moksha".
Happy Pongal & Sujatha very happy Tamil New Year.
Regards,
S Rajagopal
Still it is nice to know our interest in mythology and related topics. Thanks Stockgrp for the clarification.
Is Stockgrp Ilango?
Warm regards,
S Rajagopal
@rajagopal, sujatha, stock and ilango sir,
i can keep on writing but since it is not the focus ...few lines. PLEASE EXCUSE ME SIR
1. as stock says, surya spends 30 days in every rashi and next will be kumbha or aquarius (lord of the house is saturn) which is more important...people celebrate all over india including kumbha mela..it is here sun is very powerful as he is 180 degrees from his house leo and aspects after a gap of 5 months say 150 days or 150 degrees..CAN WE EXPECT SOME CHANGES IN MARKET DIRECTION...WITH GOLD PRICES SHOOTING...OR CRUDE SHOOTING UP
2. Ravana is great soul, great music exponent,(if u wld seen sampoorna ramayanam where they tried to show some glimpse), erudite scholar. Ravana samhita is one of the best jyotish granth, Ravana vaidya is again one of the least known granth offering some of the best healing methods..but alas his name is always known for bad...is it a curse that all good and great things have to end in bad way...AGAIN CAN THIS BE REMINDER FOR CAUTION AND CHANGE IN MARKET TREND...
My email id is sriganeshh@yahoo.com
sri
Hi Ilango,
I am carrying 53PE @ 126. What should be done... Shall I cover them at the 1st brief break of 5250 (spot) or wait for seeing if it trades above that level for say 10 mins or so.
But, in past whenever I waited for some 5 mins, at times Nifty shoots/accelerates exponentially from such crucial levels and then we have to book a higher loss at higher levels.
Please suggest.
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