This is what i wrote on 24th Jan 2013 and in span of around 1 month, Nifty Has achieved all targets till 5671, around 300 points gain.
I was consistently advising my followers that do not remain long in market below 5940-20.And you have seeing from last few days that how mid caps were taking a beating today finally most of the large caps also joined the party :).
Although it is not always possible to predict correct movements in Market but we have to have a view as per our knowledge and then take a decision and then fix levels for that. Only that way you can be ahead of the markets and earn, Otherwise you will always end up entering and exiting at wrong times.
Risk is and will always be there, we just have to manage it. Remember trading is a probability and not certainty , so there is no place for indiscipline and frustration.
Markets do not care what we think, or what we wish......
We have to adapt ourselves and position ourselves for most probable scenarios with proper knowledge of levels.
Now what is next for Nifty, Below is the daily chart of Nifty Spot:
Clearly showing new trend line break out and supports are seen at 5650-5600-5550-5520 and then 5420.
Clearly we need to sustain above 6000 for new uptrend otherwise forget everything and stay back for lower levels and start accumulating your dear stocks at every support level, but do not buy in bulk as you never know where it is gonna stop.
Like SBI was 2400-2500 1-2 months back now you can get it around 1800 also , so keep accumulating.
I was consistently advising my followers that do not remain long in market below 5940-20.And you have seeing from last few days that how mid caps were taking a beating today finally most of the large caps also joined the party :).
Although it is not always possible to predict correct movements in Market but we have to have a view as per our knowledge and then take a decision and then fix levels for that. Only that way you can be ahead of the markets and earn, Otherwise you will always end up entering and exiting at wrong times.
Risk is and will always be there, we just have to manage it. Remember trading is a probability and not certainty , so there is no place for indiscipline and frustration.
Markets do not care what we think, or what we wish......
We have to adapt ourselves and position ourselves for most probable scenarios with proper knowledge of levels.
Now what is next for Nifty, Below is the daily chart of Nifty Spot:
Clearly showing new trend line break out and supports are seen at 5650-5600-5550-5520 and then 5420.
Clearly we need to sustain above 6000 for new uptrend otherwise forget everything and stay back for lower levels and start accumulating your dear stocks at every support level, but do not buy in bulk as you never know where it is gonna stop.
Like SBI was 2400-2500 1-2 months back now you can get it around 1800 also , so keep accumulating.
