iCharts Discussions

[saikat]

Hi,

Just wanted to add some more confusion in all these difficult times...

What is a life of a speculator without confusion??

Regards,

Saikat

[pradyehv]

good one saikat ..nice finds...

[cypandya]

saikat
can u plz discribe ur study & charts in leman terms?!
i m new to the technical analysis.
what is ur weekly H&S pattern indicates?

[jimmie]

rather remain new in technichal analysis, than being a lehman expert.

[Stockhunter]

Good one saikat - the H&S looks good but dont think it will get to its target this time... the downward rally should start fizzling out close to 3200 levels... just my view.

Cheers

[chellps]

Nice analysis saikat, but it will take time to reach the Target as 3700 is not that weak a support to leave way.
Chellps

[rameshraja]

Hi Saikat

Nice chart presentation. To me, there is no confusion and I stick to my analysis of Nifty drifting to 2400 level in this bear run. One needs to have conviction in Technical Analysis and there is no If and But.

We believe in Technical Analysis ( And assumes history repeats ) and then why run away from realities if H & S shows the TGT of 2400 in weekly.

Assuming if the inverted H & S gives a TGT of 8000 or 9000, then people will accept this, irrespective of Lehmen or any bank going burst, but not downside if the H & S gives night marish TGT. why ????????

Let us accept the truth what this weekly chart says and shoud not run away from realities.


Regards

C T RAMESH RAJA :

[hdobhal]

Hello RR Sir and Saket,

First good chart by Saket, undoubtedly, its very clear and present danger for market now.

Dear Ramesh Sir, I did a lot of research on this issue of why people accept bullish view more readily than bearish one. There are so many reasons but one that SCIENCE RESEARCH tell is astonishing !!!

Sir, I know you are a science background person, so will understand this. Let me put the exact words:

When life gets chaotic, it's natural to try to figure out what's going on. But sometimes, the desire for an explanation may lead us to perceive patterns that don't exist, says Jennifer Whitson, a management scholar at the University of Texas, Austin. A study conducted in the 1970s, for example, found a correlation between bad stock market performance and an increase in the amount of space newspapers devoted to horoscopes and articles about astrology. Failing to find an explanation for their falling fortunes in the economic data, people apparently started looking to the stars. Another study found that parachute jumpers are more likely to see a nonexistent figure in a picture of random dots and squiggles just before they jump.

This explains why some people even DISTORT charts to show GREENERY when in fact its a DOOM for markets. Those who might have lost a significant chunk of their capital, are now creating illusory charts to prove there is hope. I hope those people learn a thing or two from this study and think before presenting distorted charts to show markets are ok.

Dear Sir, I think such views are extremely important as these people only serve the actual trend (which is BEAR now). Bears survive on Bulls' meat and vice-versa.

P.S: The quoted text (in italics) has been copied exactly from some highly reliable source and the example of "astrology" that is there can be replaced with "distorted" charts in iharts Forum.

Thanks & Best Regards
Harish[/b]

[pradyehv]

Hello RR sir,
I think it need guts to stick to one's analysis. be it be upside or downside

Cheeeeeeeeeeeers
Prad