Rising Wedge on TCSRising Wedge on TCS and showing bearish trend on indicators.
Trade:
Short below - 2262
Target 1 - 2215
Target 2 - 2171
Stop loss - 2326
Reward Points = 91
Risk Points = 64
Rising Wedge
B's shopping theory & Nifty !Let me ask this first, How many of you are frustrated bcos of almost no movement in Nifty ?! Almost we are stagnating within 100 point range from Oct 19th. Intra's will be having chances here n there but positional ones will be irritated to the core bcos of no movement & no trade setup emerging out of Nifty.
B's Shopping Theory :
Am not sure about the exact date, but before Dussehra itself( from Oct 1st week I guess ), I told Nifty will be directionless till Diwali bcos Bull & Bear ( B's) need some relaxation time & want to celebrate Diwali. B's are out on shopping so whatever the move happens is not the decider of overall path in coming days, its just movement by retail traders expecting up or down ( just My opinion). To prove the B's shopping theory, Nifty is reflecting the same forming Ascending broadening wedge (ABW) pattern. {LHS}
This Ascending broadening wedge (ABW) pattern forms when markets are bit directionless & patterns right end are open to the max range, so Nifty can oscillate between them without moving in any direction, so Nifty was moving within that pattern without proper direction & range is also wide enough, so its good for Intraday traders.In contrast consider some triangle pattern with narrow close on the right end, it needs to give a breakout sooner when it reaches the end but this broadening wedges can take their own sweet celebration time & confuses us.{RHS}
Therefore L.H.S = R.H.S, Hence the theorem is proved :)
Regarding Mistry sacking Mystery's, there are lot of bad decisions / conflict of interest involved so the Tata group did what's right & Best to protect their Ethics, This is Best for Tata's future. If I go indepth about all the aspects it will take another huge post to explain what went Behind the scenes, so lets close Mistry topic with firstline of this para probably on some relaxed day I will explain those. And the Tata's won't give direction for Nifty I believe ( it will be temporary) but let's see.
Getting back to Nifty, The Best way is being intraday trader that doesn't mean positional's won't get chances. Its just my opinion that positional traders will get chance after Diwali. By the way don't get annoyed that I didn't give any direction or trade setup, bcos there is no real directional chance I see here, so relax guys...take some time off away from monitors... We are not gonna make millions within 15 days, thats why told to take some rest from markets.( Bulls & Bears ) B's are out on shopping, so trade intra or better relax & take vacation till Diwali...
Let the B's Shopping Theory Work :)
