Best Time To Buy Nifty!

columbus

Well-Known Member
#3
:cool:plz have a look at the NIFTY pcr picture in the attachment

Before taking any decision AT LEAST have data for 3 month,taking a call based on just ONE month is not good.
 

AW10

Well-Known Member
#4
All Global stocks are heading north. Dollar is getting stronger.
Oil and Commodities are going south. Isn't that what everybody wanted ?
Until NIFTY breaks 4200 pivot level, the trend is still up with Higher High / higher lows in place.
Stochastics crossover signs work fine in rangebound market but they don't work right during trending market. Look at Stoch / RSI charts of last year and you will notice that they spend signignificant amount of time in overbought area when trend is strong.

Like any profession, it is important to know about which tools to use and when. (In trading, which indicator under what circumstances).

Happy Trading
 
C

Czar

Guest
#5
rightly said, but ultimately our own fundamentals will catch up...say inflation, general election, monetary policy and the glaring fact that we r under economic slowdown........technical indicators are just guidelines to aid in our decision making.......they r still derived from past data......have a look at the gravestone doji formed on 6th aug!!!....well i may be wrong in speculating that Nifty may correct.....thanx for the insight any way.....
The thing in seeing candlestick patterns is you should always need to follow the rules & which states (not only in case of Gravestone but all doji's) : "As significant as the doji is, one should not take action on the doji alone. Always wait for the next candlestick to take trading action."
 

AW10

Well-Known Member
#6
rightly said, but ultimately our own fundamentals will catch up...say inflation, general election, monetary policy and the glaring fact that we r under economic slowdown........technical indicators are just guidelines to aid in our decision making.......they r still derived from past data......have a look at the gravestone doji formed on 6th aug!!!....well i may be wrong in speculating that Nifty may correct.....thanx for the insight any way.....
"Fundamentals will catch up.." but nobody knows when.. Fundtamentals don't have much role in short term trading. I used to have same belief but after paying good price to the market, I realised that for my trading timeframe (which is short term), technicals are my best friend. Fundamentals are too vague to take trading calls..but charts do work (and thats why all traders use charts as primary tool).. They look at fundamentals in the background but not for trading.

Will appreciate others view on this topic.

Happy Trading
 
#7
our indices are at a very very crucial stage,a stage from which they can either break-up or brak down,it looks as simple as that,but its not,,,coz. the upside seems limited atleast for medium term,,since there are very steep resistances that indices left while sleeping down from jan-08,,but my worries for the down-side !! if in next two weeks indices cant stop going down..they will be surely either going to break the july-08 lows or atleast test those lows at 12500--3790 for sensex -nifty.and if the major supports at 11907-3600 by max. are not held..they will not only moove down faster but the time they will take to recover will be far more than a normal investor hopes.and my views of our markets just passing on time { 2-3 years may be} in a broader range will be in danger.ideally if indices starts mooving up on weekly closing basis from next week or two,than their will be fair chances of reaching them up-to even 17100--5300 range..if that happens than they will suely enter into a very broad range ,,A CORRECTION THAT WILL PASS-ON MORE TIME,,THAN A CORRECTION MORE SEVERE PRICE WISE..

Next week will be{ as per my gutsy feeling,} a decider week,in terms of clearity that weather this is a bear market rally only or its an upmove ,as a part of larger corrective rally..which will ultimately put indices in a higher orbit, after sideways corrective phase..august -08 is crucial as a month since its an eigth month {a fibonacci number} from the top.
 
C

Czar

Guest
#8
Huh..........seems the onslaught of bears in our market will never stop, only a little pause, then a fresh bear hug..........actually I am sorry to start this thread, best time to buy nifty will never come, only short nifty on every rise........this bear phase will be an long protracted affair.....Nifty may go back to 1999-2000 levels....I request the moderator to delete this thread....
with regards:eek:
actually the line above indicates a bottom is close :)
 
#9
Are you people sure that nifty will again bottom out ....................


to 2000 ........................ ???????????


what makes you people to think like that......... ?????


Any specific reason......... for the nifty to break the bottom 2200 ???


Please tell me i am confused ?????????????

2 days back......... people were talking about the bottom......

now people are starting to talking about the resistance 3250 to 3500

Where to get a put/short ???????????/

Please guide me.................

With regards,
Ganesh
 

S S

Well-Known Member
#10
Ganesh,

The comment made by Czar, saying that "actually the line above indicates a bottom is close " is pointed towards the comment of sanamtrade, which says that "..........actually I am sorry to start this thread, best time to buy nifty will never come, only short nifty on every rise...."

You should understand that sanamtrade, who started this thread on 23rd June 2008 at 01:36 AM, was very very optimistic. But from the day one onwards, markets kept dipping down.

Finally, 29th October 2008 at 01:28 AM, he was so frustrated that he wrote the above mentioned line.

Very correctly, before the trading session, Czar pointed out that it is the signal for market turn arround.

And 29th Oct being the Diwali Muhurat session, started at 6.15 p.m. and Czar's prediction turned out very correct. Markets did turn around with a Bang. This wisdom can only be earned through a lot of trading experience in different scenarios over a larger period of time.
 

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