Just dial which was trading at 440- 450 levels earlier on account of bad results.
Promoters, operators, insiders of this company secretly built long positions & bought BIG quantity in FUTURES.
Today a planned rumor was spread about just dial on getting sold out to google!!
Share price opened 10% high straight away & went high & higher.
This time operator, insiders kept on clearing their positions in futures, options and made HUGE PROFITS.
After clearing their positions, these people secretly started building short positions at high price.
GREED didn’t stop , these shameless people who kept quiet n secretly been playing insider game now some time back came out & made a statement rubbishing any news about getting sold or merged with Google.
Share price crashed in a matter of seconds & these shameless people played double game. This time made big money by shorting at high price.
These cheaters made hundreds of crores in no time, effortless!!
People fell trap to this & lost huge money. Bubble got burst. People bought at very high price & stock price crashed.
That is the reason an Intraday Trader has to apply rational thinking and confirm the facts and take positions. Also its very important to avoid the HERD mentality.
People who watched the charts of just dial today noon got lured n carried away & got entrapped in big losses.
They entered on strong volumes, strong patterns giving repeated breakouts. All indicators confirming strong buy signals in every time frame , 1 hr, 30mins, 15 mins , 5 mins. More the time frame, stronger the signals.
But within matter of seconds, it crashed! Technicals couldn’t save people out of this crash. So many people must not have put SL even owing to strong BULLISH trend. Nobody imagined what happened !!
Brother its very easy to come out with past data charts.
You will only say to support your statement. But I speak bitter truth. People are obsessed too much with charts n technicals.
Why didn’t you trade live if you are so sure about your technicals? You could be a BILLIONAIRE in less than 30 days.
I don’t need to answer that question. I know I am right. Your chart holds no meaning. Its just a line chart.
Every indicator was giving strong buy signal. Just dial price was pushing up & up & up. From 505 to 515 - 520- 525 - 530- 540 it set to break its own days high. No indicator could tell that price will fall now!!
Which indicator was giving strong buy signals? and where was it giving strong buy signals? I thought you’ve discussed with me in the past that you don’t use indicators.
Your question is senseless. People fell trap & lost big money. You dont have any valid statement to make & you just want to have word wars with me because you want to prove technicals.
You need to have confidence to trade your technicals than getting into word wars using past data charts.
You are right, just a week before on Just dial chart at 380 & 412 level there was a upward break out, if any body follows TA would have bought & sold on News breakout, if anybody follows Fundamentals, never bought this stock
