Thought for the day
"A good man can be
stupid and still be good. But a bad man must have brains."
Maxim Gorky (Russian, 1868-1936)
Word for the day
Spoonerism (n)
The transposition of initial or other sounds of words,
usually by accident, as in a blushing crow
for a crushing blow.
(Source: Dictionary.com)
Malice towards none
Government: Drive your car on alternate days.
Citizen: I will drive my alternate car every day.
First random thought this morning
Anyone who has followed the Amir Khan's "Quit India" episode
on social media even casually, would have noticed three things: (a) Social
media is perniciously nurturing the herd mentality of the users that could be
easily manipulated by insidious shepherds; (b) 99.99% users would prefer to eat
any rotten food rather than cooking for themselves; (c) most user feel guilt
for not doing enough for the society and the country and relieve their
conscience by forwarding guilt inducing messages to others.
For the first time in past four months, Nifty gave a Sell signal
simultaneously on Daily, Weekly and Monthly charts, a definite signal of
weakness.
Especially on daily charts Nifty is positioned precariously on the
break down point of trend line from the beginning of the current bull market
from August 2013. Besides, it is also on the verge of completing a bearish head
& shoulder formation.
The Nifty bears shall have a distinct advantage from this point
forward. The market may witness selling on all upward moves from here.
A gap up opening above 7814 today, on positive global cues and GST
optimism, shall save the day for Nifty in the near term.
Traders may begin to build gradual short positions above 7945 level.
Aggressive shorting may be considered below 7667 (on closing basis) or above
8260 level.
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