Monday, June 20, 2011

Moving steadily down

As I reach Delhi, late evening at 10 PM, there seems to have been quite a decline in the Indian Markets today.

Tomorrow, surely, the fundamental analysts will give us any number of resons as to why the decline took place. As traders, we know that the Nifty is in a downtrend, that's why prices keep on falling.

After sharp declines,there are always relief rallies, which are probably usually worth trading for the day trader.

Will this market go down further? That is for the market to decide. Charts syggest a decline to 4800 at least, with 4200 - 4000 as a possible final target. As we know, charts can change so our view should be: markets are going down - where they will finally stop is anyone's guess.


vim said...

Dear Sukhanisir,

How does one determine timing of pullback rally using technical parameters?

warm regards,
vimarsh p vasavada

Vaibhav said...

iam a full time trader for the last 2 years and i follow you closely on ETnow.

However, Iam keen on getting knowledge and experience more than getting tips.

Can you please suggest some books on trading that you highly appreciate?

Tushar said...

Hi sudarshanji i think before any major break down market face extreme volatility but this time we r not facing such scenario.So pls guide us, because head and shoulder pattern is visible on weekly chart and it will give sell signal if mkt close below 5360 on weekly basis but i m confused to trade

ankit said...

hello sir, i am a great fan of yours and seriously you are my idol.Sir yesterday move was some sort similar to 26-11-2010 move where market seems to see panic selling and after wards it just goes up and again on 3rd jan its start falling.
at the time charts of all share seems to be not smooth and no proper stoploss strategy can defined because 26-11 low was extreme.but market falls below that level and now the charts seems to be smooth.
so can we asume that same thing will happen.shares from here will go upwards and after that again selling will take place.


i think nifty is heading towards 4750 level first nd then followed by panic selling to 3900-3950 odd mark is possible.
As per Astro Gvt fall is also possible in between oct-11-dec-2011.
Be catious..
and invest through SIP route.Dont try to bottom Fishing.
Happy Trading,
Nifty OPtion Team

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