The Nifty gets a cool shower.

A dramatic 170 point (4%) decline in the Nifty today cooled down the over-enthusiastic segment of the market. If you were a day trader, you should have received a number of short selling signals today. It was a good day for traders.

I have received a fair number of comments, and I really want to reply to all of them. Where do I start? In Alice in Wonderland, the suggestion was: start at the beginning. That’s what I am doing. If I have missed replying, this means I will reply in the next post.

Krishna asks:
I wish to learn technical analysis,would like to know if you conduct courses/seminars or else i request you to please suggest an institution where i can learn the same..your suggestion will be very significant for me to decide…

My Notes:

I cannot recommend any private institution. This is how I would go about it, taking one step at a time.

1. Self Study. Follow the IFTA syllabus which we will publish this week in the taindia.org website. Buy books published by Vision Books. These books are low priced editions of expensive American editions. Search for material on the web. Become an expert in using google. have a broadband connection & 24 hour access to computers
2. Browse through free charts available on Yahoo.com and perhaps other web sites also.
3. Buy a technical analysis software.
4. Open an account with a broker and trade in very small quantities.
5. Experience: Join an established trader who uses TA for his trading. Be a trainee and learn the tactics of trading. This is possible if you wish to learn rather than to seek a job.
6. Get Certification.

Now for the next post!