NIFTY 50 - A Magician's Bluff ???
Updated
Well Well Well ! What do we have here? A fantastic day at the markets where people are rejoicing their portfolio's in green especially if they were holding Railway and Defence stocks in particular.
Anyways, today is Thursday and tomorrow's closing according to me would be key to understanding this illusion (if any). I am skeptical because there is a strong resistance zone as marked and in 9 sessions we have already moved up 5% and the steam left should ideally be less. So I'm getting a hunch of a magician's bluff being laid out to the retail investors by the big hands.
What is a Magician's bluff ?
There are 3 components.
1. Sleight of hand - refers to the skillful manipulation of objects, typically using the hands, to create illusions and deceive the audience.
2. Misdirection - is the art of diverting the audience's attention away from the secret actions or methods employed by the magician.
3. Presentation. - the ability to effectively communicate and connect with the audience.
Firstly, I have never seen politicians coming out in the open disclosing direction to the markets. Who needs this information? Big hands or retailers? Don't the big hands already have some of the information they require? This to me is 1. Sleight of hand
One of the very common strategies put out on social media is a range breakout. This Nifty50 chart also looks like a range breakout and it could be as well. However, what is bothering me is whether this move today is to make retail investors believe that the info given to them actually is taking place?
I am skeptical and this alerts me w.r.t 2. Misdirection for now.
Talking about 3. Presentation. if tomorrow 24.4.24 we more or less move sideways and close below 22850, there is a possibility of a good correction in the markets close to the results where retailers may get trapped by the big hands who would be thirsty to deploy their funds lower down. We could be correcting to 21000-21500 odd levels at least. (Wolfe Wave coming into effect)
However, If I'm wrong and this is genuinely a good breakout then we could be seeing a small retracement (sideways move) and then head to over 24000.
Anyways, today is Thursday and tomorrow's closing according to me would be key to understanding this illusion (if any). I am skeptical because there is a strong resistance zone as marked and in 9 sessions we have already moved up 5% and the steam left should ideally be less. So I'm getting a hunch of a magician's bluff being laid out to the retail investors by the big hands.
What is a Magician's bluff ?
There are 3 components.
1. Sleight of hand - refers to the skillful manipulation of objects, typically using the hands, to create illusions and deceive the audience.
2. Misdirection - is the art of diverting the audience's attention away from the secret actions or methods employed by the magician.
3. Presentation. - the ability to effectively communicate and connect with the audience.
Firstly, I have never seen politicians coming out in the open disclosing direction to the markets. Who needs this information? Big hands or retailers? Don't the big hands already have some of the information they require? This to me is 1. Sleight of hand
One of the very common strategies put out on social media is a range breakout. This Nifty50 chart also looks like a range breakout and it could be as well. However, what is bothering me is whether this move today is to make retail investors believe that the info given to them actually is taking place?
I am skeptical and this alerts me w.r.t 2. Misdirection for now.
Talking about 3. Presentation. if tomorrow 24.4.24 we more or less move sideways and close below 22850, there is a possibility of a good correction in the markets close to the results where retailers may get trapped by the big hands who would be thirsty to deploy their funds lower down. We could be correcting to 21000-21500 odd levels at least. (Wolfe Wave coming into effect)
However, If I'm wrong and this is genuinely a good breakout then we could be seeing a small retracement (sideways move) and then head to over 24000.
Note
I feel the move would be similar to this. Make a retracement on election results and then profit booking. Lets see.Note
Trade closed: target reached
*DISCLAIMER*
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
Disclaimer
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