What is Dow theory?
dow theory charles each aik maliyati theory hai jis ki bunyaad dow ke adaryon se akhaz kardah khayalat ke aik set par rakhi gayi hai. yeh bunyadi tor par batata hai ke jab mutadid isharay is ki tasdeeq karte hain to stock market mein reechh aur bail ke jazbaat ke darmiyan aik ahem tabdeeli aaye gi. aik shanakht shuda rawayya is waqt qubool kya jata hai jab usay thos shawahid se taied haasil ho. nazriya wazahat karta hai ke agar do isharay aik hi simt mein chaltay hain, shanakht shuda bunyadi rujhan haqeeqi hai. jab do isharay mumasil nahi hotay hain to koi wazeh rujhan nahi hota hai. yeh qeemat ki naqal o harkat, tijarti hajam par markooz hai. Grophical numaindagi aur isharay ke mawazna ki madad se rujhanaat ko pakarna. charles each. market price action tajzia, qiyaas araiyo par raye, waghera se tayyar kya gaya, dow ki taraf se muta-arif karaya gaya, dow theory ne takneeki tajzia ki bunyaad rakhi jab takneeki tajzia software ki himayat karne wala aaj ki terhan mojood nahi tha. pishin goi mein is ka irtiqa aur ifadiyat 19 win sadi mein Robert ree ke zareya charles each. dow aur william peter hemilton ke wall street journal ke adaryon ka mukammal jaiza un ki kitaab" di dow theory" mein achi terhan se wazeh kya gaya hai. yeh bunyadi baton ka istemaal karte hue market ko samajhney ki ibtidayi koshisho mein se aik thi jo mustaqbil ke rujhanaat ki nishandahi karti hai .
Technical Analysis of Dow theory:
dow theory takneeki stock market ke tajziye ke liye bunyadi thi aur is ne apni musalsal pishrft ke liye aik bunyadi nazriya ke tor par kaam kya. tajzia ka takneeki frame work rujhanaat, ulat pehroon ki nishandahi karne aur ziyada se ziyada munafe ke liye asason ko kab khareedna ya bechna hai is ka faisla karne ke liye market ke data par poori tawajah dainay ki zaroorat par zor deta hai kyunkay market mustaqbil ki karkardagi ka aik ishara hai. is terhan, theory ke mutabiq, takneeki tajzia sarmaya karon ko taweel, darmiyani ya qaleel mudti rujhanaat ka pata laga kar munafe bakhash tijarti faislay karne mein madad karta hai. nazriati takneeki tajzia kisi khaas rujhan ki tasdeeq karta hai aur khareed o farokht ke signal ki toseeq karta hai agar dono ost aik dosray ki tasdeeq karte hain. agar aik ost nai bulandi ya kam ki taraf barh rahi hai, to doosri ost ko jald hi pairwi karni chahiye. mazeed wazahat karne ke liye ke theory kaisay kaam karti hai, zail ka chart dekhen jo sanati aur naqal o hamal ke isharay ke darmiyan talluq ko zahir karta hai aur is model mein khareed o farokht ke wazeh signal kya hon ge. mandarja baala chart ke mutabiq, djia aur djta dono ne aik bunyadi taizi ke rujhan ke hissay ke tor par April mein nai tops banayen. taham, jab djia ne July mein nai tops banayen, djta aisa karne mein nakaam raha. is ne intibahi alamat ke tor par kaam kya lekin rujhan ke ulat jane ki tasdeeq nahi karta. djt ne July ke aakhir mein aik naya record kam kya. is ke baad, djia ne bhi aik naya record kam kya aur taizi se mandi mein bunyadi rujhan ki tabdeeli ki tasdeeq ki. . is ke baad, dono ost neechay ke rujhan ko jari rakhnay ka ishara dete hain .
Market trends:
market ke rujhan ke teen marahil hotay hain. dow theory is baat par zor deti hai ke market ke barray rujhanaat teen marahil par mushtamil hotay hain : aik jama karne ka marhala, awaami shirkat ( ya istehsal ) ka marhala, aur taqseem ka marhala. jama karne ka marhala ( marhala 1 ) woh muddat hai jab sarmaya car market ke umomi jazbaat ke khilaaf fa-aal tor par stock kharedtay hain ( baichtay hain ). is marhalay ke douran, stock ki qeematein ziyada tabdeel nahi hoten kyunkay un sarmaya karon ki stock mein aik mamooli maang ( jazb ) hoti hai jisay market barri miqdaar mein faraham karti hai ( release ) karti hai. aakhir-kaar, market un hooshiyar sarmaya karon ko pakar layte hai aur qeemat taizi se badal jati hai ( Fez 2 ). yeh tab hota hai jab rujhan ke peirokaar aur deegar takneeki tor par mabni sarmaya car shirkat karte hain. yeh marhala is waqt tak jari rehta hai jab tak ke zabardast qiyaas aaraiyan nah ho jayen. is maqam par, hooshiyar sarmaya car apni holdngz ko market mein taqseem karna shuru kar dete hain ( marhala 3 ). stock market tamam khabron ko chhuut deti hai. stock ki qeematein taizi se nai maloomat ko shaamil karti hain jaisay hi yeh dastyab hoti hai. khabar shaya honay ke baad, is nai maloomat ki akkaasi karne ke liye stock ki qeematein tabdeel ho jayen gi. is nuktay par, dow nazriya ki aik bunyaad se mutfiq hai. stock market ost aik dosray ki tasdeeq karna zaroori hai dow ke zamane mein, America wahan aik barhti hui sanati taaqat thi. America mein abadi ke marakaz thay lekin karkhanay poooray malik mein phailay hue thay. kaarkhanon ko apna samaan aam tor par rail ke zariye bazaar mein bhejna parta tha. dow ka pehla stock ost sanati ( manufacturing ) companiyon aur rail road companiyon ka index tha. dow ke liye, sanati shobo mein bail market nahi ho sakti jab tak ke railway ki ost bhi aam tor par pehlay nah barh jaye. is mantaq ke mutabiq, agar producers ka munafe barh raha hai, to is ke baad woh ziyada pedawar karte hain. agar woh ziyada pedawar karte hain, to inhen gahkon ko mazeed samaan bhejna parta hai. lehaza, agar koi sarmaya car minofikchrrz mein sehat ke assaar talaash kar raha hai, to usay un companiyon ki karkardagi ko dekhna chahiye jo apni masnoaat ko market, rail road par bhijti hain. dono osaton ko aik hi simt mein muntaqil hona chahiye. jab karkardagi ost se hatt jati hai, to yeh aik intibah hai ke tabdeeli sun-hwa mein hai .
