I see that many people come to my blog from some technical analysis blogs , I have recently started using Technical analysis for my trading decisions , i must appreciate that Technical Analysis is a great way of making trading decisions .
To understand the basic things in Technical Analysis , read this small tutorial , source : Investopedia.com
Also , for getting Intraday charts , the best place for retail investors is yahoo Finance Site (India)
The chart is for Nifty Intraday , you can use different indicators for yourself . By default i have put RSI and Slow Stochastic . To read more on this , Investopedia has excellent .
Nifty for Monday
Markets have reversed its position from Negative teritory to Positive and gained more than 450 points . It should now retrace to the levels of 2800-2900 next week . Any rate cuts and good news from US may trigger the positive mood . But the main trend is still negative and any rise in markets must be used for profit booking and going short again (with good SL) .
Happy technically trading.
{ 2 comments… read them below or add one }
I, too, agree that Tech Analysis is a great way to help make decisions but I would not make it my only source of a decision. Especially when the market is acting like it is now. Careful with it. Good blog, by the way.
Hi Seth Collins
Thanks for the comments .. I also use current news , sector analysis along with TA for trade .. Can you let me know others things i should consider .
Manish