Hi SS,
...........forget what peoples say.
Cheers.
Hey man !
I am no kid to get bothered with what others say. But I am no kid to ignore what others say too.
Usually I follow certain principles.... and almost in each of my messages I give an explicit disclaimer which says :
"This is my opinion and I could be wrong!"
This also means that individuals differ and others could have a different opinion, .... a fact that does NOT bother me. I stand by my opinion and please don't bother me with yours. Many times I also add a rider "Nothing personal" making it clear that it is an argument between two adults.
And when I feel that someone is trying to bother me with his/her opinion [and again I repeat,.... when "I feel" .... and being human, I may feel wrong, .... you know
] I hit back if it is the thread I am interested in posting messages, or else, I just ignore that thread and that person.
Also I never recommend anything to anyone. I put forward my opinion, and request everyone to use one's thinking capacity, think and do what seems to be correct.
I run the restaurant of providing Food for Thoughts
I find that Devan had been posting some worthwhile messages and some uh.... ? .... but his interest in the matter could be seen. So based upon my feeling, I preferred hitting him back than ignoring him....
) and I could be wrong in doing that. Nothing personal, you know. Just a difference of opinion.
That does NOT stop me from writing. Actually, it is the feeling of getting contented time and again through working out correct probabilities. This is going on for months now, .... when I was writing in some other forum, before shifting to this one.
As of now, I am handicapped as my Laptop has gone for repairs and I am using someone else's. That could be one of the reason for me to get irritated fast.
Most important is the way Dow has fallen below 10,000 mark. So have the Nasdaq and S&P 500. In spite of the SEBI chief declaring the gates open for P-Note holders and waiving the 40% bar, and in spite of the RBI joining hands by reducing the CRR by 50 basis points, I still see Red colour for the current
week.
On Nifty daily charts, the lower Keltner band stands today at 3705 ... when the adjusted close for the day stands way below at 3602. But for weekly Nifty, the lower Keltner is at 3578.
The RSI, ROC, TRIX, MACD, %K.... whatever indicator one looks at... the indicator has no indication, and is still moving down.
The Bollinger bands are also opening up so, tomorrow Nifty stands a chance to recover a little to respect the chiefs of SEBI & RBI. But in all probabilities, it may turn out to be a false alarm, that shall lead to the down trend again.... may be due to the European markets and Banks in particular.
I could be wrong, but the bottoming of the Nifty appears to be less likely prior to Diwali, based on the time scale. Dow has perfectly getting bottomed out in time. And although I had a gut feeling of the Indian markets recovering prior to the rest of the world markets, I may be possibly proved wrong. I will be happy. This gut feeling, ...whenever is different from the charts, has made me loose, if I have followed the feeling than following the chart.
It is very LESS LIKELY that the Nifty weekly candles for the current week and also for the next week show Green colour. Even if one turns out to be a Doji, it is likely to be a Red coloured Doji.
Usual disclaimer quoted above !
Cheers!
SS