Quote from - Warren Buffett

"The best protection against inflation is your own earning power. If you are the best teacher, you will command earning power and get your share of the national economic pie, regardless of the value of the currency. The second best investment is in a good company."
- Warren Buffett

What is going on...

Yesterday we wrote about the market..The ship is about to sink!! (The previous post down to this post). Today market was opened in gap down.No one could arrest like yesterday.We gave a pre-market view before the market opening.. we gave a tips market open in gapdown around 9670.00 level and asked to cover short that we have sold yesterday.Same thing happened though market opening was bit above, but traded exactly in 70 level and we just covered it.Not only that we also said..the closing will be down.( See the above intraday graph)

When the market was traded in 9690.00 we gave a sell call without stop loss and afterwards it came down to 9660.00level we have not covered it,hence we have place buy order in 9580.00level. Banknifty went up slowely and during the afternoon it gone to 9730+ levels..it was a real threat to all our clients..as if it will go to 9800+level..Tested so much and made our clients to sweat..Still they had so much faith in us and patiently waited till the closing as per our pre-market tips.it came down to 9615.00level many covered in 9625 and few others covered in 9640.00level.Any how there is more pain and more gain.

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What will be the market tomorrow??

i will leave today the ball in your court...Give me your feedbacks in comments..Let me learn something out of it.

Why Such A Choppiness Today?

The market today was very choppy the nifty almost trades between 20 points and the bank nifty traded in 30 points..The Banknifty went upto 9818.00 and came down from that level and it was actually traded longer time between 9770 -90 level and during the after noon it was stand still in 9770-80 level and slowely came down to 9750.00 that was the day low.we went short in 9794 and covered in 9766 level and the 2nd time we sold at 9777 level and kept stop loss at 9784.00 after wards the banknifty traded thrice in 9783.00 but our SL was not triggered...Just in 1 points we escaped and covered our short during closing near days low.

The banknifty was caged between the range of 9740.00 to 9820.00 and the day trade has no charm..it was very choppy.Why this choppiness?

The ship may going to sing in a deep water??.The 9740.00 seems to be a critical support now and if this level is broken by any chance tomorrow by a gap down opening...a deep correction is possible in banknifty.Let us wait for the opening.Nifty has a strong hold at 5305.00level today and somehow the market down fall was arrested today.