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Clearly NIFTY has switched to short term uptrend. Now is the tough time to choose to get in. It could be a fake breakout but you have to take chances now. NIFTY as such can change direction and keep you guessing for all the time until it tops. So now is the time to take some risk and cut losses if proven wrong. Thats all you have in your hands anyway.
I have pointed out the professional buying on above charts. The long green lines are professionals buying with heavy volume. I hope they have done guessing about correction and started to bet on upside. Its a textbook breakout friends. The problem is its only one day since the breakout happened. I am going in. Open to chances now.
Please add following stocks to your watch list
I find ABAN offshore as just ready to go on upside. Look at the professional buying green volume times. The stock is on breaking down anymore. That is called base formation. I am differing on my open style of buying only after the stock closes above 150 day average line. Well, the opportunity looks so appealing I want to bypass my rule this time.
This chart also shows why day traders fail to make larger gains. The market makers create situations where they excite day traders to buy and then depress them by selling little bit to take the stock back from them. The process happens until the point where day trader exhaust himself and only strong players have all the stocks. That is called playing it professionally. Any way there are few lucky people they win no matter what. I think, not everybody is lucky so you better learn this game and stop burning yourself.
Do you think I need to tell you anything more about the above Ashok leyland Chart. I have marked how the professionals are accumulating stock for Ashok Leyland and how little players have been squeezed out. I do not have anything against market makers, I am only trying to learn their game plan and trying to let you know about it.
Well, following are two charts for your study. Study the green volume times, the chart base formation and what do you predict possible outcome. Send me email about what you feel about it.
Intention of this blog is educate you to invest thoughtfully than just throwing money to any stock and wait for it to go up.
Thanks
Anil
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