Trading is a Money Game or Psychology Game :-
For the last two Plus weeks many might have understood the meaning of the above headlines. Many experienced genius might also confused and made loss in the market. Why ???
Only One chart. For Eg. Nifty - where the entire trading community is watching and getting confused. In a Same chart many have different analysis and different trade - from which most of them scratch their head with lot of confusions and resulted in Loss.
Above image - shows how every trader looks or analyse the charts - like a blind analyse an elephant. A Doctor or Lawyer or an Engineer need a curriculum before he gets graduation and need some practice before he is ready to be an professional. In case of a Trader or Analyst - No one have realized the importance of Learning or practice.
One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute. by William Feather.
On a Trading Screen - Every Numbers are entered by a trader - Assuming that he is right in his strategy, until he was proven wrong. Its right to say that a correction on Price where done by a Panic Mind. Fear and Jealous plays an important reason behind a Traders psychological blunders. A Confused trader often justifies their wrong trades with a wrong arguments and analysis, until he met with a loss.
So its very important to understand that - Prepare yourself psychologically before you start your trading. Good Luck.
>>> Nifty Weekly Chart <<<
On the 5th Consecutive week - Price struggling to cross 7970-90. 50 WMA acting as a strong hurdle. Results season, FED News and Monsoon updates played an important role so far as trend.>>> Click the chart to see on full screen <<<
>>> Nifty Daily Chart <<<
Above Daily Chart may be an Head and Shoulder - But we need more confirmation from Price. If Price unable to break below the trend line or 50 DMA - Bulls may re-enter with Good Short Covering. Else if Breaks may bring Fresh and Free Sell Off.
>>> Nifty Hourly Chart <<<
For last one week - no doubt most of them are stuck on either side - Long and Short. When we explore the chart of nifty - we get a lot of alternative counts on EW along with Pattern also. Here is one among them, I hope it can be a right one. AS I have mentioned on chart, if the price breaks the trend line - all the above mentioned counts get negated and price may start falling.
>>> Bank Nifty Daily <<<
If the support line on BN Chart - does not breaks, Expect a good rally above 17K.
>>> Bank Nifty Hourly Chart <<<
Bank Nifty - At an alternative - Like like moving as ABC. If so, then Price may upmove for Wave C.
>>> RCOM - Hourly Ch
Still Holding Long, Hoping for an good upmove if the trend line holds as shown on chart. Cheers!!!
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