SANSKRIT SUBHAASHITA OR WORDS OF WISDOM

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WEEKLY NIFTY

Disclaimer : These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.Consult your financial advisor only before you trade.

NIFTY WEEKLY SPOT

Nifty has not closed above the Bearish Engulfing Candle’s high of 7809 on a Weekly basis.So the sideways/ corrective trend continues.So watch this point.Any close above 7809 on weekly basis negates the Bearish Engulfing candle.Also I have marked rough Elliott wave points which is either forming  wave(4) of the lower degree or may have completed wave wave(5) and thus larger Wave 3 .Either way, if the big blue “3” Wave 3 is complete, we may see 4 th wave form.Wait for a week or two so that a clear pattern emerges.

If Nifty is not able to close above 7809 on a Weekly basis, then we may assume Wave 3 as complete and wave 4 forming.If Nifty does not close above 7809 on a weekly basis and if Wave 4 is happening, target of Wave 4 to 38.2 percent i.e 7422 ( low of wave 4) — 7060 (38.2 %) can be expected.

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Nifty

 

SRIMAD BHAGVAD GITA — LORD KRISHNA’S OWN WORDS

Chapter 3 Karma Yoga

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CHAPTER 3,   SHLOKA 37

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3-37

Here Lord Krishna is called Bhagavan because he is talking from his state of Godhood.Also note that he is saying “It is desire”, “It is anger”, i,e he is not saying desire “and” anger.Because he considers both as same.First the desire arises and if anything obstructs it, it results in anger.So desire and anger are one and the same thing which rise from rajoguna.The more you feed a fire of desire with fuel i,e sense objects in this case , the more craving takes place.Our “smriti” or memory of pleasure wants to enjoy the objects of senses again and again and then anger results which finishes man off.