Sunday, January 2, 2011

Waiting for the first trading day of the New Year 2011

Verily, you were waiting for the views on the first trading day of the New Year 2011. Many technical analysts has already given their predictions and fantastic stories. Nandi's advice for the new year is "Never trade on stories, trade on figures". Stories can be very beautiful and it creates hope. But hopes, most of the time never materialises in the market. Nandi compares the movement of stock market similar to a journey in a small boat. When ever majority leans on one side, boat capsizes and journey takes unexpected turns. For journey to be smooth travelers should take their position equally on both sides. So, when ever there is significant imbalance keep away from majority.

Agni level for Monday, the first trading day of the year is at 6135 which is the closing figure of 2010. Hence, cues for Monday should come from Asian markets. So waiting for tomorrow with a clean slate. As Moon conjuncts with Mars on 5th a minor down move can be expected. Nothing more now. That's why this post was delayed today.

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