LAGATA HAI PICTURE ABHI BAKI HAI !!!

Check following 4 posts ---
1) http://www.kolhapuritrader.blogspot.in/2012/04/falling-wedge.html
2) http://www.kolhapuritrader.blogspot.in/2012/04/alert.html
3) http://www.kolhapuritrader.blogspot.in/2012/04/short-term-view_18.html
4) http://www.kolhapuritrader.blogspot.in/2012/04/alert-follow-up.html

So what happened today--- today there was gap up opening above upper trend line of falling wedge, but later on NIFTY got sold of and given daily close exactly at 5300.

NIFTY DAILY

We all ready mentioned that if it gives daily close above 5306.75, INTERMEDIATE TREND will also turn up.That means as of now INTERMEDIATE TREND is still down.

 
At the same time SHORT TERM TREND is up, while LONG TERM TREND is sideways to up.

THAT MEANS EVEN THOUGH NIFTY BROKE OUT ABOVE THE UPPER TREND LINE OF FALLING WEDGE THERE IS STILL CONFUSION REGARDING DIRECTION OF MARKET.

AT THE SAME TIME NOTE THAT CHAIKIN MONEY  FLOW AND MONEY FLOW INDEX HAVE GIVEN BREAK OUT ABOVE 0 AND 40 RESPECTIVELY SO THE FUTURE DIRECTION IS MORE LIKELY IN THE UP WARD DIRECTION. BUT YOU NEVER KNOW SO WAIT FOR CLEAR CUT INDICATION.

IN SHORT NIFTY IS IN CONSOLIDATION PHASE SINCE 22 FEB, AND AS OF NOW LOOKS LIKE PICTURE ABHI BAKI HAI, i.e. it will consolidate for few more days, MOST PROBABLY IT WILL GIVE CLEAR INDICATION ON COMING FRIDAY  OR  DURING NEXT WEEK.

These are tough times for traders, lot of traders loose significant amount of money during periods like these and even quite few of them are thrown out of the market. Such periods are so painful that some of the traders never return to market in there life time.

DURING SUCH PERIODS LOT OF PATIENCE, DISCIPLINE IS REQUIRED. DURING SUCH PERIODS IT IS BETTER TO REMAIN OUT SIDE THE MARKET UN TILL THERE IS CLEAR CUT BREAKOUT, AND YOU ARE  SURE REGARDING FURTHER DIRECTION.

 AS USUAL THIS IS OUR PERSONAL VIEW AND VISITORS SHOULD DO THERE OWN ANALYSIS BEFORE MAKING ANY DECISION. 

DISCLAIMER: This Blog is meant for sharing our trading and investment ideas only and no calls to be taken as trading recommendation. Visitors please do your own research or consult your advisers for safe trading, investing.