Nifty : Khaike...Paan Banaraswala...
Hey Guys, Happy Trading week ahead !
Before getting into title part, lets deal with what's in Nifty chart. As of now, I'm expecting two scenario's
i) Either a pullback to 10070's zone & move to downside ( shown above )
ii) A straight down move forming double bottom
But note that in both scenario's I'm expecting retest of the 9950's. If it all it gets tested n violated & still there is bullish momentum in Nifty { over the weekend I read few interviews of Fund managers & research articles from Reuters & they say still steam is left in Indian market compared to other Asian markets } The wordings are more important here, when compared to other markets Nifty remains good in Asia.So if its true, we will see some heavy buying around that zone for long moves. One more thing to remember, its not one-day scenario, it unfolds itself in its own pace... Anyway for us News is just an info in air, we listen not part of our trade plan.
Why Paan Banaraswala ? There is popular saying in the streets that : " When paan banaraswala ( betel-leaf seller ) predicts the stock market , that's the end of Bull run ". I feel that's what happening now, if we close our eyes n touch screen buy some stock even 1 or 2 week before ( leave months n all ) its in profit, so I feel this is that Paan banaraswala moment, where everyone gets some lucky money & last part of retail crowd ( you can read middle class ) enters with hope & Baam ! The Winter is Coming...
So just take care of your portfolio & keep an eye for Bears, One for the Bull ! & As usual enjoy trading " khaike...paan banaraswala..."
Before getting into title part, lets deal with what's in Nifty chart. As of now, I'm expecting two scenario's
i) Either a pullback to 10070's zone & move to downside ( shown above )
ii) A straight down move forming double bottom
But note that in both scenario's I'm expecting retest of the 9950's. If it all it gets tested n violated & still there is bullish momentum in Nifty { over the weekend I read few interviews of Fund managers & research articles from Reuters & they say still steam is left in Indian market compared to other Asian markets } The wordings are more important here, when compared to other markets Nifty remains good in Asia.So if its true, we will see some heavy buying around that zone for long moves. One more thing to remember, its not one-day scenario, it unfolds itself in its own pace... Anyway for us News is just an info in air, we listen not part of our trade plan.
Why Paan Banaraswala ? There is popular saying in the streets that : " When paan banaraswala ( betel-leaf seller ) predicts the stock market , that's the end of Bull run ". I feel that's what happening now, if we close our eyes n touch screen buy some stock even 1 or 2 week before ( leave months n all ) its in profit, so I feel this is that Paan banaraswala moment, where everyone gets some lucky money & last part of retail crowd ( you can read middle class ) enters with hope & Baam ! The Winter is Coming...
So just take care of your portfolio & keep an eye for Bears, One for the Bull ! & As usual enjoy trading " khaike...paan banaraswala..."
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