BANK NIFTY

Source-Graph NSE.

Today was the day with so much of un-expectation.The market opened in a slight gap down and certainly zoomed up around 100+points, and around 1.30 for no reasons it just came down to 9040.00level and went upto 9115 level during the closing.

Today low was 9854.00 and high is 9116.00 levels.Around 260 points from the days low to days high.Great oppourtunity for a opening long, but most of the traders missed the chance.(i have recived many chat messages saying nothing is done).The graph shown here is the spot from yahoo finance.

What will happen on 19th jan?

Dow,Nasdag,hengseng are still in Negative zone.

Our team expect a gapdown opening and trade in the range of 8870 - 9080.

NIFTY - BUTTERFLY FORMATION

When i look nifty graph yesterday i.e 15th, jan-2010,There is a butterfly or Bat formation is seen.This indicates there may be a correction possible,which is about 300points (or) a rally that move nifty up upto 5360 level.it is purely my assumption,so don't react much.

Trading Quotes

"Lying here, during all this time after my own small fall, it has become my conviction that things mean pretty much what we want them to mean. We'll pluck significance from the least consequential happenstance if it suits us and happily ignore the most flagrantly obvious symmetry between separate aspects of our lives if it threatens some cherished prejudice or cosily comforting belief; we are blindest to precisely whatever might be most illuminating."

- from Transition, by Iain M. Banks