2021-09-08 14:36:35
Good evening guys..
A strong buying happened today from the low. Nifty's panic selling was grabbed beautifully by the operators and institutional players. Almost picture perfect level playing happened today.
The actual overall buying would start when mid and small caps would witness strong resilience and buoyancy in buying at present level which has started happening. That's the best part of today's market. Apart from the Nifty 50's massive recovery and absolutely brilliant closing the midcaps' buying interest is more enchanting.
Now, 17220 will be strong support while 17450 would be the next target of Nifty to overcome.
The trend of the market is, you buy, it'll fall for a while, you sell in panic, operators take entry at those throwaway rates, and in a day or two it'll blast like anything. To win in here, you have to have just two things
1. Knowledge of the levels
2. Perseverance to hold and courage to take entry when majority are in panic.
Once you acquire these skills, you're invincible. Latter is more difficult than the former. That's why, algotrading has become grossly unsuccessful in making money for retail traders because nothing can capture the madness of human emotions. As, Einstein said after losing millions in market, "I can predict the movement of heavenly bodies, but not the madness of crowds..."
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