Charts do NOT predict prices. No form of TA predicts prices.
— Peter Brandt (@PeterLBrandt) October 10, 2020
Charts suggest the path of least resistance
Charts provide a means to determine the risk of a trade
Charts offer help in timing
Charts offer POSSIBILITIES, not probabilities and certainly not certainties
October 11, 2020
Charts do not predict prices
October 10, 2020
Sheer randomness or luck?
What about the other children who studied in the same school/ similar school in same/ similar village?
— KPL (@vfmdirect) October 10, 2020
Any info how they are doing?
Or does randomness have a huge role tp play.
October 9, 2020
NIFTY EOD Charts
- trend is up on daily charts
- today nifty closed 0.7% in positive at 11914
- but AD was 4:5
- now swing low at 10800
- but that is far so I will consider support around 11500
- minor whipsaws ok
Schroedinger's plates - for the scientifically inclined
They are both broken and not broken until you open the door.
October 8, 2020
Historic move
Nifty fell from 11800 to 10800 in September, all the bears came with usual arguments, "Corona, Lockdown, High PE, Bad Economy, GDP, etc, etc"
— P R Sundar (@PRSundar64) October 8, 2020
But last 9 trading sessions, 1100 points higher is Historic, never happened in India markets before. (Exception: 2009 event based gap up)
NIFTY EOD charts
- trend is up on daily charts
- today nifty closed 0.8% in positive at 11835
- AD was 4:5
- despite gapup opening, markets closed flat forming a doji
- of late, AD is not encouraging as markets are moving higher
- and we have heavyweights leading the rally turn by turn
- one day it was TCS, next day Reliance, then HDFC twins and so on
- today it was TCS and HDFCBANK
- note region of 11000-12000 is a huge congestion area for almost 3 years
- an interesting observation
- nifty has gained 1000 points in less than 10 days
- and most of the gains were in overnight gapups
October 7, 2020
October 6, 2020
NIFTY EOD charts
- today nifty closed 1.4% in positive at 11662
- AD was 5:4
- with today's move, nifty has recovered all losses
- now holding above 11500 has possibility of retest of 12000
Difference between money and wealth
Singer Rihanna earns tens of millions of dollars, but found herself “effectively bankrupt” in 2009. She sued her financial adviser for not doing his job. He offered a legendary response: “Was it really necessary to tell her that if you spend money on things you will end up with the things and not the money?”
The first iron rule of money is that wealth is the stuff you don’t see. It’s the cars not purchased, the clothes not bought, the jewelry forgone. Money buys things, but wealth — assets such as cash, stocks, bonds, in the bank, unspent — buys freedom and security. Pick which one you want wisely.-from Fool
October 5, 2020
NIFTY EOD charts
- markets directionless
- no strong move in neither direction
- flirting around 11000 levels is there for 3 years
- we had a short signal on break of 11000 but this was stopped out
- in today's market, nifty closed 0.8% in positive at 11503
- candlestick was a doji
- AD was 5:4
October 2, 2020
NIFTY EOD charts
- trend is down on daily charts
- nifty closed 1.7% in positive at 11417
- AD was 11:7
- despite gap up, trading range was small
- VIX dropped 6% to 18
- note that nifty is trading around 11000 for 3 years.
- so this is a huge sideways market
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