Technalist (Chartists) View November 2011

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Check the Business Line Chartists Version of present trend of the Indian Market.

I learned to make sense of Technical commentary after great efforts. I have found that their judgement is more helpful then to get the tips. A similar review is presently given on Economic times. The figures are useful. But I have decided to keep this article in this dump.

Just a view. I have found that when the Chartists give sign in one direction, the market behaves in opposite direction for a week as if it wants to show the Chartists wrong. But over two to three weeks, their views are vindicated. It is other thing, for a novice, they do not make sense. They tell that what their charts are telling and then tell that how far it will fall further. But they will end their analysis with the factor 'if' and tell that if it turns around then it will reach that high. One is perplexed to understand that what actually they are telling. However, if one understands the market, then, they are always telling the matter of fact things. They are not dictating or prophecies. They give the pattern and you have to learn to feel the pattern instead of understanding them.

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