Although we started of well in the morning, with Gap up opening, we didn't have a closing that bulls have wished. The gap that got created between 12700 to 12820 in yesterday proved to be the resistance for going above that. A test was attempted in Nifty Futures to cross 3695. At the end of day, bulls are down but not out.
All the world markets, to our right and left did well, why not we? All of a sudden have we been de-linked from world markets? Have we got our own freedom for financial markets also? My answer for this is no, we are not. Just see todays FII figures in futures nearly 700 Crores. Then, who spoiled bulls party? Same old retail who believe the media analysts and also day traders played their part.
Tomorrow will decide where we are heading to. If 3595 Nifty Futures and sensex breaks 12500 , then we have further trouble days ahead. But most likely, we will attempt to cross 3690 in Nifty Futures and 12789-12820 Sensex.
With limited downside, we have more upside. Easy money as a positional trader is available on upside. Instead of playing this range bound, try to get the Big fish. Patience pays pays off.
In Tamil, oodu meen ooda uru meen varum varai, kaththu irukkumam kokku.
(Kokku is a fish eating bird - Here is the translation:- it leaves all the small fishes that are passing it without making any noise. Then, big fish thinks it is safe to go and tries to cross the area. Kokku got what it wanted.)
Going forward, I might be posting limited market hour posts but anyway keep checking this blog.
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8 comments:
Dear bala,
Problem is that, confidence in this market is not blessing but disguise. Keep investing long you will learn from your mistakes.
First, always think market is not manipulated; there are fundamentals on which it runs. Just do not blindly follow FII/International market. Look All FII's are same world over, so market moves worldwide is influenced. If they do not follow local technical’s they will not survive in long run. They can manipulate market for a day or two and not for weeks. You can create whipsaw to create trap, that's all. USA/FTSE are more mature markets, they do not fall/rise heavily. So if there is a big fall they will show signs of pullback, will not fall next day.
I do not invest; just follow technical’s for fun (not for money). Adv, exit your longs in first 15 minutes today.
Why I am posting, because I felt you are genuine person, but getting carried away.
Thanks Vipul, I am also following technicals to decide my trades. I personally fell we are close to bottom. I am risking early. That's it.
- Bala
Risking early,
Is it that simple. suppose u go long at 3650 assuming in april u will be on positive side. by march end if market touch 3420. you will have margin call of 230 points per lot. So u should have 70% money uninvested at risk to take that risk.
And will your client take that risk.
:)
Hi Vipul,
I understand your concern. I am a single man army and I am not doing any client service. I am just blogging my views & I hope my readers take due caution and their own research before reading.
Thanks, it is very nice to hear from you.
- Bala
read as: "take due caution and do their own research before investing/trading"
read client as readers, whether they are paying you or not, you are writing on a public domain.
I don't think it is a good idea to do trading/investing by reading a blog. nobody will shed tears for those kind of people.
These are my views and opinions about what is going on. Today I have said one can play short if 3595 breaks.
Thanks again.
- Bala
enjoy,
you are great, i am impressed good luck for your life/investments.
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