The year end move is positive as the markets took support at 2812 level bounced back to cross the resistance at 2930 level but the real challenge is that the markets are facing very strong resistance at this moment at 3030 level. The markets are surviving on low volumes in the frontline counters. The geo-political tensions are easing as the negotiations are heading for a solution as the super power US and the UK are putting pressure on PAK, seems threatened that the economic sanctions could be levied.
The saga of Satyam continued to be brutal bruise to investors especially the retail small investors who put their faith. The planned exit of Raju is most worrying to worrying than the corporate administration.
The Nifty is having good support at 2860 level and the resistance at 2983-86 level. The Reliance has support at 1220-23 level good so long it trades above 1235 and in Bulls grip above 1245 level.
The SBI is good above 1256 and will face resistance at 1297-93 and at 1320 level. The ICICI is shuttling between 403 to 460 level. The stock will cross the resistance and trades above 465 then look for 525-30 range from where the banks will see steep correction.
The reality& infra move in the past 10 days has exhausted and the correction put them in trading range. The DLF is still in Bulls grip but the stock is good above 293 level and weak below 271. The Punjlloyd took support at 136 level may face serious resistance at 151-53 level.
Tuesday, December 30, 2008
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Your Subconscious Mind and Trading
Whole books have been written on this subject, but here is the bottom line ...
Deep subconscious tendencies will be brought to the surface and manifested in your emotional behavior and ultimately in your wins and losses, when you start trading the markets. And as previously stated, most people's deep emotional tendencies are not suited to making money in the markets - unless, of course, they change them.
If, at a deep subconscious level, you really want to lose, the market will allow you to do that. If you really want to be successful it will allow you to do that too but it will demand from you - discipline, focus, analytical ability, emotional control and ... Self Analysis and Goal Setting.
discipline, focus, analytical ability, emotional control and ... ABOVE ALL THE ABILITY TO ACCEPT THE MARKET.
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