Hello Every One
My Yesterday Prediction was not a guess, I will give my Prediction in Near future too on some other day, Just to Prove that It was not a guess
Now Coming to Logic behind this, I did not share it yesterday just because it will be a long message to Post.
Just give Introduction My Name is Kishan, I am a new Member of Traderji.com just 2-3 days, But I am Active Trader from last 15 Years.
When I visited Threads here i found who ever is Talking about Tech. Analysis, books and Software, But they are missing One Most Important Thing and just to Prove this thing I Posted message yesterday that nifty will go down by 100 points.
Now coming to what are you People Missing, All these Technical Analysis will work only 70 % Correct if you are not localizing Indian market situation factor. Pure Technical Analysis works on a Market which is Independent like US Markets.
For Indian Stock Market You have to Keep Consideration Local plus Global Factors in Mind else you will fail at least when you are Analyzing Nifty for Next day.
I too Have worked on MetaStock and on Ambi Broker, They are very good software but for US market , For Indian Markets can not rely 100 % on them without keeping local and global factors in mind .
And I found some Post Talking about buy and sell formulas or signals , So let me Clear my view on this If any body is able to tell me one Formula which can work Profitable in 2 different market situations than only it is correct. And no formula exists in this world which can trap Share Markets 100 % correctly.
Else Software Companies who are selling their software by the name of Buy and Sell Signals would not have been selling their software, Instead of this they would have Kept Robots or some Computer Program who can do Automated Trading for them.
No Software is better than human Mind for a Trading Decision; Software use must be just for Analysis of Data which can help your Mind to take trading decisions.
Now At Last What was the Logic Behind my Prediction.
Their was more Experience than Logic, Forget about Charts for 2 Minutes and Think deep in your Mind,
1). Can Nifty survive on Next day When All other Markets are going Down.
2) Nifty has Already Risen Heavily on Friday when other Foreign Markets were Down.
3) Nifty Raised even when Inflation data was higher.
Now after Reading my Logic many of you will say what a Stupid Logic, Nifty raised in past so many times in same situation, But just to Remind those People that was a Bull Market and This a Bear Market in India Right now.
Definition of Bear Markets Says Market will Rise a Bit so that Bears can make it fall more down.
I was feeling that it can go far beyond 4840 my Personal target of Nifty Spot was 4776 When I Shorted on Friday Afternoon
I will Post More Prediction with Logic Next Time so that some one can also benefited by them
Just One Advise When You Analyze Nifty or Stock thinks with a Simple and Defined Manner. The More You thinks in complicated way the less you will be benefited from share markets.
And beginners to technical Analysis or new to Technical Analysis , Try to Use Some Simple Indian Technical Analysis Software at least in starting 1 -2 years then move to more complex software like MetaStock or AmbiBroker