indiamarketoutlook

Still looking @TV News or listen to what charts tell us directly

NSE:INFY   INFOSYS LTD
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Did I know about any news coming out on TV which will take IT stocks down swiftly... Definitely not...

So was I lucky enough to be on the right side when news came out...

It depends on how you look at it..

I always believe Stocks do have a way of communicating... they do try to tell us a lot... and it is up to us whether we are open to listen to them...

Charts are one of ways of communication they try to use.
Derivatives Analysis and Fundamental Analysis are other means...


Following charts, Infy was indicating selling pressure likely to be expected around 990 levels

&

Wipro charts were suggesting selling position around 568 had good risk : reward ratio

One has to wait & wait patiently for the levels to come and then wait patiently for the targets to come...


Rcom for instance made us wait for 6 months for it's target. But then we were looking for the stock to fall from 49 odd levels to 30. That was a target of 40% drop ... and yes it was through technical charts... Remember Technical Analysis is not necessarily intra-day or short term. It can be handy from medium term perspective too...

so the wait was worth the time...

Again on 26th May 2017, the chart of Rcom was indicating no relief for the stock. In fact was indicating more hell of a downside move might break loose. And the next trading session on 29th May there was news of Rcom having problems to repay its debt and dusted the stock was down 20%


So the question is were we lucky on other occasion too...
I will answer it very simply

I believe apart from a few lucky ones, it is study and analysis (could be technical / fundamental depending on your style) that can help in making money...

Invest your time in study and analysis and chances are you might start feeling lucky...:-)

Results are in front of you...Choice is yours..

Are you listening...???


Enjoy & happy trading...!!!

P.S: Still not convinced... need further proof.... do look at charts of Apollo hospitals, R Com that was posted and charts of other stocks too....

For Newbies if you are looking for Technical Analysis , this is one of the best sites I have come across. And the tools that can be used to analyse charts provide enormous Armour to help you analyse the battleground (charts) from different angles and prepare yourself well before hand.

Also, there are many other people who are good at Technical Analysis on this site...
So

Take what you can... Give nothing back...!!! [/
Jun 09
Trade closed: target reached: Infy target zone of 933 -900 has been achieved

Made a low of 923 so far...

Take care & happy trading...!!!
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