YES! We did pause for a breather yesterday, and now hopefully it shouldn’t turn to gasping, considering the fact we have made an outside reversal bar /bearish engulfing (in oriental context) on the daily chart yesterday.
A quick analysis of today’s action, Nifty was weak from the morning trade itself, courtesy the weak global cues. The late afternoon surge by bulls was met by severe resistance and now we are sitting on 38.2% retracement of the recent rally. We have a good support at 2750, from where another push can be expected by the bulls. It won’t be a bad idea to go long if you see 2725/50 holding; small position, small stop for a target of 2950/3000 for starters! Anything below 2600 can mean attempting to retest the bottom…but we will come to it later, like I said step by step!!!
One of the most helpful things that anybody can learn is to give up trying to catch the last eighth - or the first. These are two most expensive eighths in the world...Larry Livingston
hello sir..how are u .. i hope that u are fine
ReplyDeleteOne of the most helpful things that anybody can learn is to give up trying to catch the last eighth - or the first. These are two most expensive eighths in the world.
Could not understand this particular thought..please explain
Saurabh
kurichh Hi,
ReplyDeleteIt simply meant that the last tick is always the most expensive one!One should try to avoid catching the tops and bottoms!!!
Cheers!