Friday, September 28, 2012

Updating the Trailing Stop on BNIFTY

I m happy to update that Trailing stops on bank nifty can now be shifted to 11300-320, for all those who held there position despite all the "opposition" :)....a breach below that level should trigger short term short play, but be nimble footed on short side as we are still in very bullish zone. Before a reversal ensues its going to chop both side, so I would go to side lines once that level is breached to downside and await a more better signal for short entry.

Coming to my cognitive-bias (of course based on certain edge) ; it suggests that Oct or early September should be the month when we should form a top in the markets...yes I know....most on the street are already starting to dream about blue moon :)...and those who got it right "luckily" are now hoping to ride it to end of the rainbow where pot of "gold" lies :).....

Now those who have read my previous posts (and I know there are very few of them:) ), know that even the self-proclaimed best of the best ramblers of the sell side can't hold torch to my timing :)........its almost cast in stone that most will always be late to arrive to the party or leave the party, as they are consumed by what external factors are doing to the market rather than what's the market doing....this game of rinse and repeat is what makes market a fair place...

I will be back when there is something worth updating about the index...till then enjoy the chop :)

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