Nifty & Bank Nifty Weekly Technical Outlook for 14th Oct, 2013

Nifty Daily Chart

Nifty Daily Chart

Bank Nifty Daily Chart

Bank Nifty Daily Chart

Tell me and I forget. Teach me and I remember. Involve me and I learn – Benjamin Franklin.

Every market participants, one or another day will agree with excellent quote of Benjamin Franklin. If I tell you, I am sure you are going to forget, if I teach, you will struggle to remember, but if you are involved with me than for sure you are going to learn and remember. As a trader or an analyst, you always have to accept supremacy of markets, the day when you start becoming stubborn with your view or start loving your trade, you begin journey which will drive you nowhere.

In last couple of weeks, what we observed is, even if you are right in your view, market is not allowing you to make profits out of it. Because, one day market moves in one direction and you build a position, immediately next day you find yourself in a dilemma, whether to hold this position or take a stop and get out of the market. Finally, as a small trader you cut your losses and get out, and next day you find that market open gap up and game is over. Your loss making position goes in profit, and you can’t dare to take fresh position seeing market already very high. This is tough time and we believe that it will not last, so cheer up.

Let’s take snap shot of last week, and understand what could be the next move of the market.

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We are covering Major Equity, Forex& Commodity Markets, Way2Profits filters information and streams meaningful conclusions right to your inbox. Technical Research is our realm and we fathom the depths.

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