jdm said:
hi gaj,
please give adequate reasoning for any comment you make. stock market is not a game of guessing.
thats what you have to say a day before yesterday. looks like your tomorrow comes a day late.
predicting the market is the most difficult thing and even the most experienced desist from doing so. yes today the markets are down. but looking at the market breath today do you feel the markets will be down tomorrow? i do not have the answer, nor do i expect it from any body. the market itself will say it tomorrow.
don't feel bad, i have no intention of hurting you, but inspite of other members requesting you repeatedly for the reasons behind your thought you kept mum. and no wonder people chatted about their birthday in your thread.
your participation is extremely valuable to us all. but please do elaborate your thoughts so that reasonable souls like us has a better understanding of the same.
cheers,
jdm.
hi jdm,
dear friend, no doubt the current market is working pure on sentiments....
the days of charts had all of a sudden dissapeared..all levels were breached mercilessly.....
anyway, you know the July dangers in bag.....what I mean to say is, this market is out of prediction now.....so wise men should either stay away or adopt a policy of enter,exit,enter,exit........
I do not say that I can predict it even....but if you look at the charts now...see that sensex movers have recovered much faster then expected.....so retracement back from this level is due (pooops do not hang me for this statement)......I just go for what is clear to my eyes...if you go for minute details, sorry friend, this is not the time for that.......we are not yet into safe zone.....we need to comfortably settle above the levels of 11000 and some moves up, we are in a confirmed uptrend........so during this time, all you can do is have stop losses and once it is triggered, have a hard heart to cut your trades..this will always keep you out of danger...
just see now, i was totally thinking of sensex touching 11000 and drawing back drastically...it did not even go above 11000 and the fall has come...now at this point, may be it recovers back...may be it goes for a freefall from this levels too......everything depends upon how people react to this.......the burnt fingures may be burnt again......or they may prove smarter this time.....
the sensex will see resistence at each ups now..but when it goes down, there would be no levels.......In such scenario, try to get out of markets asap...see i got mtnl 2 days back and sold today at profits..i sold it at 156...i may be wrong..it may cross 160, but i did not take risk..today it went down to 152 levels again..so even if i pick it here and wait, i may gain again...i play with s/l, but i'm out of markets today.....
I'm totally against daytrading....but i have collected some good literature which i would be posting soon here (this is totally dedicated to how to become a succesful trader).....
ok...lots for now....see ya tomorrow...
gud night..
ganeshhity
