Monday, March 24, 2014

Nifty breaks past "6524" & days of consolidation into its 5th..

Nifty Intrday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

Prices have held 6470-77 zone, channel bottom/ Falling wedge bottom.
While doing so, the channel has been broken briefly as in a 4th wave.
Now, prices must confirm by moving past 6524 while holding "6483", the critical retrace for the rise from 6473 to 6522.
When prices break & stay below 6465, it would then be considered a 5-wave done at 6575 and not until then.
I have been sharing whatever I have learnt the hard way in the market place with everyone without any discrimination through my blog for the past 6 years.
I suggest you to go through the simple write ups listed under the label "Applied Technical analysis" and "For Beginners". You will find them under the "LABELS" section at the side bar of my blog.
It is quite easy to understand. For reference, you can download the "JustNifty TA" excel file from "JN GROUP". It is updated and uploaded everyday.
Later you can go through the 8 topics discussed under "Always start trading with these" at the side bar of my blog.
There are more in the labels section like Market wisdomTrading with discipline, etc.
Take time to go through them while watching the markets simultaneously. The time you invest today to understand the market before putting your hard earned money to work is the most sensible and wisest act.
In my initial phase in stock market, I wasted away the beginner's luck money earned from the market and gave away much more.
Please understand first and then trade or invest.
You could start right away by trading with our JNSAR, a Stop And Reverse method.
Be greedy when you are right and be fearful when you go against your own methods.
Learn before you start out to earn... 

Get rich slowly and quietly.