What i want to know is how much do you guys value news over technical analysis and vice a versa
I was told news has no effect or no value in technical analysis, sure news may not always make a stock move but given the herd mentality of the market. For example SBI result was bad, even after the budget session which was good for hdfc,icici,sbi stock still went down, yesterday there is some news which has now been debunked,that sbi will sell some 5000 cr worth in yes bank so stock went up, clearly we can see this on the chart.
i was talking to someone rather a group of people from a certain youtuber trader/teacher community who has a youtube community and his ads flash on almost every video these days first name starts with A. They tell me its the technicals that moved the market and that the results,news(like yesterdays which made SBI the top gainer of the day) dont matter and have zero value in technical studies.
What logic is this to ignore fundamentals for technical,alteast the core fundamentals like results, acquisitions,stake sale etc. Even ITC has moved due to stake sale news.
All it takes is one income tax notice to make it hit the lower circuit.
Technical analysis may work in a black box without any people or news. But when there is real world news that affects sentiment about a stock, and this directly affects what people are willing to pay for a stock, you cannot accurate predict the stock price with just technical analysis.
Their main job is to sell courses that teach you to read charts. They would sell their own parents if it meant you bought one more course from them.
exactly, even pharma shares one us fda notice and lower circuit,but these people find some explanation that stock already was weak technically etc.