Talking money... For a change...

After losing some money during my last few investments in the market, I've been reading some stuff about TA and FA in capital markets.

This is the best article describing 'Dow Theory' I have come across till now:
Check out here

This is another TA article which throws some light on the 'Elliot Wave Theory':
Check out here

Anticipating Nifty



Applying the Dow stuff to Nifty charts, we can see that there seems a Secondary Bearish move inside the overall Bullish Primary move. However, instead of eating into around half of the gains of the last move, Nifty has broken previous low during last correction. This means that though the market has almost recovered from the last correction, a further downside is possible in the Nifty in the medium to long term. It may possibly mean the end of the Primary Bullish move. Any how, TA tells me not to take any new positions at this time and wait for further signals.