Heres Bank Nifty -
Heres Reliance -
Lastly here is a look at Nifty again.
Nifty -
I have to admit I have been wrong this time in shorting the rally too early..I have to give kudos to Ilango for calling this correctly i.e an ending diagonal...
Maybe a move down from 2780-2840 range to tag 2500-2450 range again. After which we shall see a much more sustainable and bigger rally.
For now, I am in damage control mode regarding short positions held. I still think 2500 will be seen again. But I am considerably less bearish than before..So will look to reduce risk and trade lighter. I would recommend same to everyone.
Best.
1 comment:
Thnx for this one, I have been following your & ilango's blog for sometime, now..
At least, now I can track/identify channels..keep up the good work.
The only thing that I still striving for is..how you draw projections of market movement inside/outside the channel.
Anyways, I shall continue reading your attached snapshots, maybe I ll know learn someday.
Regards
Yogi
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