Greed leads to disaster in another way. A speculator has started in to buy at the inception of a bull movement. He makes money. The more he makes, the more avaricious he becomes as the market moves forward. His confidence in himself increases until he develops a mental state known in the vernacular as “big head” or “swelled head”. He now has unbounded confidence in himself and “plays the limit”. Soon thereafter the market culminates at the top and the trend reverses, but Mr. Swelled Head is ignorant of this, so continues to buy on set-backs instead of selling on rallies. A drastic slump follows and Mr. B.H. goes to the scrap pile – BUSTED.
Kotak at its trendline resistance at 614.
Buy above 615.5 Tgt 618.6,625 and 630
Stock is near its breakout levels.
BUy above 316 Tgt 320,326 and 330
Sell below 310 Tgt 304,300 and 295
Stock is approaching crucial level of resistance at 192.
Buy above 192 Tgt 195,198 and 202