Friends,
I am happy to note that again my view gets vindicated on two things:
1)I categorically wrote in my last post that there is no need to sell now at 50-60% down price, actually it is time to buy....
2)With market moving up by 900 points, it agained proved that technical are useless tools......
I am more happy for the second one.... Though I do not claim of anything.....as this is simple logic that I am applying......nothing more....maybe my experaince is coming handy....
Vasanth, see this is what happens with technicals.....now all the supports and breakout between 15288 and 16216 , like say , 15550-15700-15985-16100 are major resistance levels and they were broken in a single day......but the anamoly will be this chartist will still say, that it is just a day....wait for 2-3 more days for clear signal......and then buy.....that is horrible....
I still say, this charts is for Day trading or for a week trading and that too also not even 10% perfect.....No one can win in ST....all the great fortune made in stock market, be it Warren Buffet, Peter Lynch or anyone...they were LT.....HOLD the stocks which are great in fundamentals....that is the bottom line....
I again reiterate, if you have money to invest for only 1 year to invest, don't come to market.....there is no guanrentee that within a year you will get good return as market moves on sentiment and no one knows when the sentiment gets bad and the worse like we saw recently in Jan/Feb/Mar......If one is ready for an investment for 2-3 yrs atleast then only come to stock market and invest....if the stock goes up within a year then it is OK, but should be ready to hold for longer period...
Will anyone tell me which analyst forecasted looking at the chart that there will be a big upmove of over 900 points today?Did chart forecasted that?
I suggest and advice my readers that please refrain looking at charts and playing hencewise....as charts may prove right for once twice ,but most probably will take you in deep loss.....I have not seen anyone making big profit from technicals.....
I remember , I saw Anil Maghnani of Modern Sharebroker , a day back saying that on chart he is seeing there is no investors confidence and he sees more down side from hereon.....and actually from thereon the market take a U turn.....
Hi Rajeev,
ReplyDeleteI have never trusted the chartists and will never do it also. But coming to the stalktalkindia.com they have some clear strategies apart from the chart projections they give. When you find time just have a look at their articles section which explains their strategies clearly. As they claim if we have followed their strategies we could have cut down our current loss by a big margin. Their broader market projections has nothing to do with their stock picks. Again to reiterate I am not doing any advertising for them. I am just trying to share the good things with you and our bloggers.