MAYA_MUMBAI
Education

NEVER BLINDLY SHORT THE MARKET - MY FIRST NIFTY POST

NSE:NIFTY   Nifty 50 Index
i read many post to get ready to short the market , Hence i am giving my humble views

In the chart here, i have shown 2 supports

1) Horizontal Support

2) Trend line support

Unless and until - these supports are broken - Never short this market

3) mac-d on weekly and daily time frame is positive

4) Price is above 200 ema

These are just my observations

Critics are welcome to criticize !!! :)



Comment:
hope the above weekly charts - and drawing of parallel trend lines gives more clarity

Comments

entire plotting is wrong in my view, i cant encourage on wrong plotting dont know what amazing others felt and yes i can be wrong but as per my understanding and experience entire plotting is wrong.
+7 Reply
@kacharts, here comes boy abhi dropping truth bombs.
+1 Reply
MAYA_MUMBAI French_Fries
@French_Fries,

life is a game , Play it -

but play safe - without bombs !!

:) :)
Reply
MAYA_MUMBAI kacharts
@kacharts,

I agree this is not a classical way of drawing a Trend line

and i also do not advocate the same for beginners

As the time passes - you tend to deviate from the elementary practice

Anyway - The title says it all - that it is not yet time to short ! -

one of the reason why i posted this & many must have appreciated - is the fact that most of the posts were to short the market ,

In-fact as proved today - its not yet time .

The reasons were many as pointed in the chart - Not only trend line
Reply
kacharts MAYA_MUMBAI
@MAYA_MUMBAI, madam not only trendline is plotted wrong but also ur horizontal band , i dnt know what many has seen in this post. beginners or pro - plotting is same for all.
reason should be solid as per technical not because of what all others are posting. let others do whatever they r doing how does it matter.
+4 Reply
MAYA_MUMBAI kacharts
@kacharts,

I am sorry if i am not enlightened by the same school of thought as you!

But technical s do differ & there are hundreds of ways to do the same

Even to plot a horizontal support and resistance - there are hundreds of authors out there and each one has a different point of view

There is no universal law saying only one particular author is correct and others are wrong !!
Reply
kacharts MAYA_MUMBAI
@MAYA_MUMBAI, no comment now.. keep plotting. best of luck
+2 Reply
MAYA_MUMBAI kacharts
@kacharts,

i should also say that your charts are perfect and i do follow your charts
Reply
kacharts MAYA_MUMBAI
@MAYA_MUMBAI, thanks for that. but if u will make mistakes in plotting - may u get right for once twice but market can punish in long run
+1 Reply
@kacharts, You My friend Kumar , you are innovative , but people at large are not so innovative to learn , some even think they can get all the knowledge without going to professional institute like college for degree , they think that everything can be learnt by just reading a book , reality what you said is correct in stock market , they will be punished by paying cost for their wrong entries, in personal life they will be punished for their wrong assumptions or wrong understandings ( miss-understanding ) , since you took a step of faith to explain the truth i will contribute here few words for trend line definition

Define Trend line : A line represents the trend is called trend line
Define Trend: A trend which makes its way due to mass participants giving an visual representation of movement in a symbolic structure , example financial instruments are read in candlestick ( Eastern symbol) , line / bar charts ( Western symbol) , dots , scatter plot , symbol are used for scientific experiments

There is Rules & Guidelines to plot a line in financial instrument graph ,
Rules applying for western symbol is different
Rules applying for Eastern symbol is different

and its totally 10 hour class in financial learning in the institute ,
its also on of the Module in CMT ,

Hope you will consider my message as sportive , Good luck
+1 Reply
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