Markets are getting deadlier and for those who can mantain the neutrality between both sides of market there is abundance of money to be looted.Yes I mean neutrality between the long and short sides of the market.So we have broken 2600 in NIFTY.As mentioned earlier 2600 wasn't expected to give much resistance and it didnt.
So we are finally going down with full steam,even the rate cuts failed to halt the downward spike.So where are we headed,thats the million dollar question everybody's asking.And the answer is we dont know..and u dont need to know that in order to earn ur bread and butter in markets.We just need to be with the major trend which is indeed downwards...but its easier said than done..shorting shares near lows..most public wud rather think of buying ...and thats why most people lose in markets.
Anyway as far as my calculations go based on 1929 model,I feel we cant have the bottoming out of market until DOW hits 5800..and after that we might consolidate around 2800-3000 levels ..but then markets exaggerate for a longer time than sanity would let us believe.
For tomorrows trading we could expect some short covering by the shorts who had initiated new position this week but overall the bearish forces seem so strong that I dont think it would impact markets in a major manner.So if you have the guts I still feel u have time to enter and make new shorts.....
Happy Trading
No comments:
Post a Comment