Is this the last rise before a fall ?

[munde_77]

I dont fear any rise or fall , trend is my best friend. Absolutely nothing else. I thought this reminder of saints novice mind graph would help a few who are looking to catch the top to short or catch the bottom to go long. I would keep posting usless stuff like to gyan from the GURUs

U R Right , trend is your friend..........One can catch momentum scrips which move even in the down market also. trade with strict stop

 

[kuriako]

I am currently longing to enter...

But!!!

 

[adilsaleem]

I dont think we would see 6000 for sometime. The time is come to revisit 5400, then 5100.

These are my personal views and im always wrong

 

[adilsaleem]

Allright This was a little quicker than expected. One more rise now. Atleast i will not go long on this rise.

 

[adilsaleem]

Things going as expected so far. We face a stiff resistance at 5740. There is a good possibility that we would cross this and move towards 5980. But the fall is nearing. If you notice people who love to predict in small writtings and enlarge them based on the results are quiet. No one wants to take any guesses here. Im very confident of a lower bottom than the previous one. I am not sure where this current rally will end. I am currently outside the market. If we go below 5700 i will short with a STOP at 5745. If the market is above 5745 i will go long with a even smaller stop loss. Currently i would trade only intra day. I am looking for a good signal where i could be with the trend.

 

[adilsaleem]

I am now covering my shorts.

 

[adilsaleem]

volumes are high on downside.

The problem with me is that i dont stick to technicals tho i use a lot of technicals. Covering my shorts helped me as the market rose the next day and i was able to go short again. I do not want to claim that i am an expert trader, clearly i am not im just learning. Its a lot about patterns with respect to the world markets as well as indian markets. I still stand by a lower bottom. Very frankly the market is extremely undecided and its a gamble to take a guess here. Unfortunately we do look at the west for clues at these times. I am out of the market currently and will go long only when spot nifty is above 5750. I better stay away than gamble. I would surely short below 5600.

 

[adilsaleem]

I am exiting all my positions gaining 100 points per lot in nifty. The reason is that the fed meeting is nearing. This week there will be a lot of talk of what the fed would do. The US markets want a 50 bps cut. The market as per the patterns i study should not be very positive this week. I would be waiting for an oppurtunity to short. I dont mind not making the most of a rise from here on. Nifty may go upto 5980 very soon.

 

[adilsaleem]

I guess this thread too is classified as one which is making predictions and rightly said by Ashish dada we are here to learn and not to predict. My pure intention was to record my moves and thoughts in public so that i could reflect back to my mistakes. I do not believe in predicting the market. I believe in going with the trend, but it does get difficult in the current times to carry a position. So the basis for carrying a position is decided based on various economic situations across the world. The bottom line is predicting is not right so i humbly request traderji to close down this thread.

 

[kprgroup]

From Money Control.......................

This span of few weeks allowed me to think and analyse the market deeply indeed. In my view correction has started. In USA it began from 10 Oct. and here it started around 01 Nov. Double top formation when Nifty was in the region of 6000 confirms it further. Do I have your permission to repeat that this correction will take three major alternative swings. Two in the downward direction and the middle one as a rally. The first down swing wave will easily take the Nifty to below 4800 within next few weeks or so. Then a strong and sharp rally will occur and then finally third savage wave C will plunge the Nifty down to 3600. I am very confident to tell that short term investors holding long positions may suffer heavy loss. Short positions with timely exit and entry will benefit most. To prove how right or wrong my views are, I will suggest you to look for my name hindlevernet in moneybhai --a virtual investment game on the site: moneybhai. moneycontrol dot com where my name appears in the first ten in Daily, weekly and monthly toppers whose portfolios outperform others. I have won prizes couple ot times. This description has been given with the sole purpose that it is possible to make near accurate forecast of the market with the help of technical analysis and EWT.----