Tag Archives: CNX IT Weekly Technical Outlook

Nifty & Bank Nifty Weekly Technical Outlook for 03rd Feb, 2014

Nifty Daily Chart

Nifty Daily Chart

Bank Nifty Daily Chart

Bank Nifty Daily Chart

 

Winners make a habit of manufacturing their own positive expectations in advance of the event. – Brian Tracy

Well, we have to agree with above quote. It is said that if you don’t believe in yourself than nobody is here to believe in you, so first you have to believe in You. Time and again we are saying and it is proved that nobody can stay right all the time in the market, even best of best traders are ready to accept their defeat and that is why they are best and winners, but even to prove wrong you have to have view and confidence in your understanding or for that matter in your trade. Yes, there is very thin line between faith, confidence and overconfidence.

Last week, Bears have confidence in their working and they proved it, but fruits of success were available only for that trader who has smartly taken position on Friday only, because there was choice available on Monday, as market opened sharply lower.

To understand and trade wisely let’s take fresh look on the market and see whether we can take something out of it or not?

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Nifty & Bank Nifty Weekly Technical Outlook for 11th Nov, 2013

Bank Nifty Daily Chart

Bank Nifty Daily Chart

Nifty Daily Chart

Nifty Daily Chart

The man with Insight enough to admit his limitations comes nearest to perfection- Johann Wolfgang von Goethe

So far, everybody is back in action after Diwali Holiday. Till date, we are following similar kind of move which we witnessed three year back on 5 Nov Diwali 2010, which was the final top for the year and top was tested only in recent past. Does that mean Top is already placed? Whenever market reaches to this kind tops and bottoms, there is always going to be a big tussle between Bulls and Bears and no party would allow single thread to keep loose.

In this situation it is very easy to make Bold Statements that “Top is Placed” or “It is just The Beginning – Chap”. At Way2Profits our approach is very clear, daily we approach market with fresh perspective in mind, and give you unbiased view on the market. To read, our understanding of the market you need to register your email id here and get our report delivered to mail box, at no cost Click here to register

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Nifty & Bank Nifty Weekly Technical Outlook for 23 Sept, 2013

Nifty Daily Chart

Nifty Daily Chart

Bank Nifty Daily Chart

Bank Nifty Daily Chart

You can’t be always right buddy…

Or Some excuse is coming to help you…

During last week market gave us surprise in terms of momentum and not in terms of direction, but missed chance is lost chance, but does not mean that you lost whole game. In month of August we saw some sharp declines, while in September we are witnessing some sharp rise. One lesson what we learn from market is You can’t be always right, and if you accept your defeat life (trading life) becomes smooth for you, but once you start arguing and finding all alternates in form of excuse or in form of another pattern formation, or at last you have big excuse of macro economics in your hand to put all blame, basically, you are trying to justify what you have earlier said.  At Way2Profits, you’ll never finds us blaming any other factors, but to accept our deficiency and moving ahead, and we believe that is what our USP is. If you are bored from hearing all stupid excuses which are very much available on tip of Google, then feel free to Join our mailing list and get fresh perspective on market.

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Nifty & Bank Nifty Weekly Technical Outlook for 16th Sept, 2013

Nifty Daily Chart

Bank Nifty Daily Chart

Bank Nifty Daily Chart

Learn the Lessons,…

Last week market traded only for four sessions, and Tuesday opening was quite an interesting, in fact it was quite a surprising day with such smart close (at least for us), but subsequent action was little discouraging for fresh longs, which were build during euphoric moves. Many a times we learn this lesson, but every other day we ignore and get carried away by ecstatic moves, and if we miss the chance then we blame ourselves or if we have a chance to blame other then we burst on someone else. But does that signify quality of good trader? Why we forget that, if not today then you have tomorrow, market is not going anywhere.

Lets examine last weeks move and based on that anticipated price action for coming week.

 

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Few Clarifications –

  • If you are already registered and receiving newsletter in weekend, then no need to re-register, again, you’ll receive report timely.
  • If you are registered for daily reports then you need to register here to get full weekly report.

Nifty Weekly Technical Outlook for 12th Aug, 2013

Nifty Daily Chart

Nifty Daily Chart
Bank Nifty Daily Chart

Bank Nifty Daily Chart

Dark Clouds are gone past or still turbulent times are ahead…

Last week we saw some razor sharp fall in the market, hopes of bulls were smashed and bears must be rejoicing, but party ended quickly.  Fall of last Tuesday was surprise package, and it damaged much. By the end of day, market action has raised question in our Analyst mind, and we could not see any clear clouds, because intensity of fall was sufficient to put us in dismay. Damage continued even next day, but on Thursday again market witnessed recovery, and week is over. Even, in coming week market will work only for four trading sessions. And we believe it will be more challenging week we have to face.

Let’s take technical snap shot of Nifty.

  • One more week, where Nifty lost around 112 points, with weekly range of 234 points. From last three weeks Nifty is falling sharply and totally lost 463.3 points on closing basis. On the weekly chart, few important trend lines are already broken and few are still yet to penetrate.

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