Skip the crap on TV: I Will post daily technicals here

dheer · #71 25th January 2008, 11:56 PM

Quote:

Originally Posted by RSI

That is correct. But Dheer was giving levels starting from 4800 to all the way down to 3600 and the nifty was at 5000+. He had mentioned only one level above the recent lowest point on nifty (if I remember correctly). Again he was speaking about short term and long term. Possibility of racing all the way down to 3600 in nifty (in the current sell off) was not in my mind. If we manage to reach there, I presume, that will be the end of the current bull market. Though I have not accepted the current rise as another round of bull run, still I was bit confused as I was not prepared to imagine that we will go far far down from the recent lows to the levels mentioned by Dheer. That is why a bit of confusion arose. Anyway, let us wait and see how far we go (either up or down) before the current bout of extreme volatility subsides. It is always better not to predict the market. But again and again I am falling in to this trap. There is lot to be improved from my side.

RSI,

Will be busy for two days so will not be posting much or if at all till sunday, though I think the biggest reason for your confusion is this. I was not talking about nifty in the post you are referring to. Someone had asked me to analyze LT (larsen and toubro) and those are the levels for that.

I think the problem arose from the fact that i was talking about nifty before and after the post in question. And in the post i did not say larsen and toubro and used the abbreviation/symbol i.e. lt

Cheers!!!

Dheer

Btw. I have been told there maybe a rally on monday, though a selloff may follow, this is not technically sound, just word of mouth from people who can afford to make markets move

Though keep on your toes anything can happen.

anjubhatia · #72 26th January 2008, 12:03 AM

dheer,
again dow is off till now frm its high of 100+.
do u think nifty cn cm upto 5200 level as theresult of sell off.
this sell off rumour/news/gossip is in my agenda also, i hv shorted nifty @5267. wat u think on this step.

ayurakshapad · #73 26th January 2008, 12:17 AM

Quote:

Originally Posted by anjubhatia

dheer,
again dow is off till now frm its high of 100+.
do u think nifty cn cm upto 5200 level as theresult of sell off.
this sell off rumour/news/gossip is in my agenda also, i hv shorted nifty @5267. wat u think on this step.

sorry fr jumping in b/w
bt im thinking that nifty is in overbought condition.
on monday, tue we cn see major sell off.