Friday, March 7, 2014

Nifty makes huge gains after a "Major B.Out" in its 3rd wave that comes after 4 years of consolidation...

Nifty Intraday Update-III


Nifty Intraday Update-II


Nifty Intraday Update-I


Nifty Pre-Market View.

A reader asks:
Out of curiosity am asking, can market(s) sustain such ferocious one way run without break ?
Let me confess, am expecting market to take breather... but isnt it a normal expectation after such huge run up?
Your chart above shows market is roofing through the highly overbought zone.
I read and respect your pre market words very carefully every morning day after day.. So suggest if there is anything wrong with my expectation.
Ans:
Firstly, curiosity killed the cat. And our traders have nine lives and they repeat this curiosity eternally.
I was never curious about my mother (nature); I just trusted her & followed her; you do the same to markets.
You are not expecting; you are predicting using another term/ word.
The biggest gain in stock market comes from such "roofing through" which gets captured by "sitting through".
If you have read & respected my pre-market words carefully every morning day after day... your actions suggest that you are just like the millions who keep "Gandhiji" on the wall and his teachings for past time and not for practicing...Please reflect on this truth..
Who am I to suggest whether you are wrong or right; market does a wonderful job of that.
If you are like the Nostradamus who can predict and make it happen, please continue your predictions.
What we do here is to stay focused on unfolding prices, stay watchful of patterns emerging and whenever the prices take a deviation from such patterns which are captured by trendlines/ channels/ labels, we readjust the "map" and follow.
Despite it all, we get bruised by random whipsaws in price behaviour but the journey is "disaster-free".
Use your head at the planning table; and once, markets start its dance, follow the map blindly without "thinking" - a hard act to do but "do" you must to be successful.