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Sharp Correction

Discussion in 'Technical Analysis' started by shabbir, Dec 16, 2014.

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  1. shabbir

    shabbir Administrator Staff Member

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    I am anticipating a slow correction for a month or so and then may be a sharp correction if the slow correction continues.

    Anyone of the same opinion?
     
    shabbir, Dec 16, 2014
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  2. myidgmc

    myidgmc Member

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    Hi Shabbir,

    Can you explain how you come to this opinion with charts and indicators.
    It will help me in understanding better.

    Thanks,
    Ram
     
    myidgmc, Dec 16, 2014
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  3. siva934127

    siva934127 Member

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    Today market fall did not spare any stocks like already down, middle of the down and top of the stocks.

    Thanks,
    Siva.
     
    siva934127, Dec 16, 2014
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  4. shabbir

    shabbir Administrator Staff Member

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    Look at the chart of Nifty and it is slowly but surely moving lower each day and that is clear sign of weakness coming along.
     
    shabbir, Dec 16, 2014
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  5. shabbir

    shabbir Administrator Staff Member

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    And BTW the post of mine was before the market open. :D and I see it just did what I expected.
     
    shabbir, Dec 16, 2014
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    monilhathi likes this.
  6. myidgmc

    myidgmc Member

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    Yes Shabbir..great analysis...
    I wanted to know that in detail..

    Thanks,
    Ram
     
    myidgmc, Dec 16, 2014
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  7. ravirajpr

    ravirajpr Responder

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    It seems the correction may last for few more days and personally I feel the correction will provide more opportunities to enter good stocks after the correction/retracement.
     
    ravirajpr, Dec 16, 2014
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  8. siva934127

    siva934127 Member

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    If suppose sharp correction ends and starts moving to upward ...

    V shape is best to (Sharp) move upwards or U shape is best to (Consolidations) move upwards ?

    Which one is most reliable?

    Thanks,
    Siva.
     
    siva934127, Dec 16, 2014
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  9. shabbir

    shabbir Administrator Staff Member

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    I would say both because still the uptrend is ON and so I would like to see either of them and it would be good to enter for trading. For investment I think it is more like stock to stock basis but I prefer a U over V.
     
    shabbir, Dec 17, 2014
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  10. siva934127

    siva934127 Member

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    Hi Shabbir,

    What is your call on market now, still media are saying down side is there ..............

    Thanks,
    Siva.
     
    siva934127, Dec 17, 2014
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  11. ravirajpr

    ravirajpr Responder

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    I prefer U shape which is similar to cup & handle pattern where the correction is more gradual.
     
    ravirajpr, Dec 17, 2014
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  12. shabbir

    shabbir Administrator Staff Member

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    I would like to see couple of green candles in Nifty or atleast couple of non red candles before I try to predict anything. You never know what can happen. There is too much support around 7700 and 7500 Nifty but not sure if it can slide that down.

    If it does, I would assume a downtrend. I would like to see Nifty around 8000 for couple of weeks now.

    [​IMG]

    So fingers crossed.
     

    Attached Files:

    shabbir, Dec 17, 2014
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  13. siva934127

    siva934127 Member

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    When I post this message in the forum at this time morning (nifty gone 100 points negative) ... in media so called world market analyst said there will be a big correction going forward .... few minutes latter immediately 100 points pull back has come .... so many people had get in to the trap.

    Thanks,
    Siva.
     
    siva934127, Dec 17, 2014
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  14. siva934127

    siva934127 Member

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    Hope falling knife might have end.

    Thanks,
    Siva.
     
    siva934127, Dec 18, 2014
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  15. shabbir

    shabbir Administrator Staff Member

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    Let the knife fall to the ground and then possibly try to catch it when it moves up or there is bottom being formed. You will have less pain in your hand.
     
    shabbir, Dec 18, 2014
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  16. siva934127

    siva934127 Member

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    Hi Shabbir,

    Do you feel "crude oil" problem solved? my opinion is if problem solved markets may take you turn otherwise it will be negative and one more thing INR is weakening.

    Thanks,
    Siva.
     
    siva934127, Dec 18, 2014
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  17. shabbir

    shabbir Administrator Staff Member

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    No matter what happens to Oil, INR counter effects that and so I have not seen much of it as news for Indian oil companies. Yes Modi Govt has managed to get oil prices cooling off and so it may be an indicator that USD INR is stable.

    But then Oil problem is all man made which no country wants to be solving.
     
    shabbir, Dec 19, 2014
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  18. jignesh_acharya

    jignesh_acharya Active Member

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    Shabbir

    Whats your view on the nifty after today's gap up opening and the closing high

    However we have seen the profit booking from the top level, may be due to week end??

    will it resume up trend?
     
    jignesh_acharya, Dec 19, 2014
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  19. shabbir

    shabbir Administrator Staff Member

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    The question will it is not something I like. I like to predict things and as of now it is always will it or wont it and I am fine taking a break and may be getting back into trading mood after couple of weeks to a month.
     
    shabbir, Dec 19, 2014
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  20. jignesh_acharya

    jignesh_acharya Active Member

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    I just asked because it has formed the V
     
    jignesh_acharya, Dec 20, 2014
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