discarding of technical signals resulted in missing of gr8 short trade

I got 1 chart in mail from Rudra ...
17mar2011_RELIANCE INDUSTRIES LTD.png
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Rudra (3/17/2011 8:41:33 PM): Did u get my mail at ur gmail id
kailash Chaturvedi (3/17/2011 8:42:07 PM): wait will chk
kailash Chaturvedi (3/17/2011 8:44:56 PM): yes seeing

Rudra (3/17/2011 10:05:04 PM): Sir wht abt ril... Wht r u seein on charts
kailash Chaturvedi (3/17/2011 10:05:32 PM): see candle pattern is ok
kailash Chaturvedi (3/17/2011 10:05:39 PM): but vol is low
Rudra (3/17/2011 10:05:58 PM): Ok means
kailash Chaturvedi (3/17/2011 10:06:06 PM): so looks like manipulated
kailash Chaturvedi (3/17/2011 10:06:26 PM): to trap pples
kailash Chaturvedi (3/17/2011 10:06:33 PM): above 200 dma
kailash Chaturvedi (3/17/2011 10:06:46 PM): ichimoku cloud 
kailash Chaturvedi (3/17/2011 10:06:55 PM): may consolidate 
kailash Chaturvedi (3/17/2011 10:06:58 PM): there
kailash Chaturvedi (3/17/2011 10:07:29 PM): but reversal is not confirmed
kailash Chaturvedi (3/17/2011 10:08:10 PM): fall wid volume will be required
kailash Chaturvedi (3/17/2011 10:08:23 PM): to confirm reversal
Rudra (3/17/2011 10:10:18 PM): Ok

I too analysed its chart from different angles...My charts RSI was not pointing down side ...volume was low ...1 trend line and 200 dma was at support  below was ichimoku clouds ...

but leading indicator  was correct ..
This is a major top reversal pattern formed by three candlesticks. The first candlestick is a long white body; the second one is a small real body that may be white. It is characteristically marked with a gap in higher direction thus forming a star. In fact, the first two candlesticks form a basic star pattern. Finally we see the black candlestick with a closing price well within first session’s white real body. This pattern clearly shows that the market now turned bearish.
Recognition Criteria:
1. Market is characterized by uptrend.
2. We see a long white candlestick in the first day.
3. Then we see a small candlestick on the second day with a gap in the direction of the previous uptrend.
4. Finally we see a black candlestick on the third day.
Explanation:The market is already in an uptrend when the white body appears which further suggests the bullish nature of the market. Then a small body appears showing the diminishing capacity of the longs. The strong black real body of the third day is a proof that the bears have taken over. An ideal Bearish Evening Star Pattern has a gap before and after the middle real body. The second gap is rare, but lack of it does not take away from the power of this formation.
Important Factors:
The stars may be more than one, two or even three.

The color of the star and its gaps are not important.

The reliability of this pattern is very high, but still a confirmation in the form of a black candlestick with a lower close or a gap-down is suggested. 

and I got the answer .....

market declared that rudra was correct ... high was 1040   and low was 992 

and today I was searching support for reliance...

Rudra (3/18/2011 9:02:02 AM): Sir ntpc 4pc up

Rudra (3/18/2011 9:02:03 AM): Sunpharma 10 pc down

Rudra (3/18/2011 9:02:03 AM): Icici bank down 3 pc

kailash Chaturvedi (3/18/2011 9:02:13 AM): cool

Rudra (3/18/2011 9:02:36 AM): Sir premarket mai toh kuch bhi hotaahai

kailash Chaturvedi (3/18/2011 9:02:45 AM): han

Rudra (3/18/2011 9:02:49 AM): Sunpharma traded at 400 abhi

Rudra (3/18/2011 9:03:12 AM): Eliance 1060 ho gaya

Rudra (3/18/2011 9:03:25 AM): My god

kailash Chaturvedi (3/18/2011 9:05:02 AM): han

Rudra (3/18/2011 9:06:46 AM): Sunpharma back at 439

Rudra (3/18/2011 9:06:51 AM): Kya pagalpan hai

Rudra (3/18/2011 9:07:03 AM): Kahin bhi order lagao

Rudra (3/18/2011 9:18:45 AM): Sir 5600 ki call mai koi move nahi hua

kailash Chaturvedi (3/18/2011 9:20:06 AM): hua high was 54.80 

kailash Chaturvedi (3/18/2011 9:20:35 AM): icici kissed 1029 

kailash Chaturvedi (3/18/2011 9:21:00 AM): i was dc at opening moment

Rudra (3/18/2011 9:21:19 AM): Ohhh

kailash Chaturvedi (3/18/2011 9:22:09 AM): cool 

Rudra (3/18/2011 9:24:35 AM): mkt not able to hold higher levels 
Rudra (3/18/2011 9:24:59 AM): expecting support at last close 
Rudra (3/18/2011 9:25:01 AM): Yes
Rudra (3/18/2011 9:25:21 AM): Ril dragging
kailash Chaturvedi (3/18/2011 9:26:01 AM): yes

kailash Chaturvedi (3/18/2011 9:28:19 AM): mkt hvy wt reliance tcs and hdfc pulling down mkt 
Rudra (3/18/2011 9:28:59 AM): Haan

Rudra (3/18/2011 9:38:37 AM): Sir aapne. Dekha ril 2pc toot gaya
kailash Chaturvedi (3/18/2011 9:39:26 AM): yes ur analysis was best 
kailash Chaturvedi (3/18/2011 9:39:48 AM): and signal was clear
kailash Chaturvedi (3/18/2011 9:40:10 AM): i only look for volumes
kailash Chaturvedi (3/18/2011 9:40:36 AM): but reliance is having 200 dma at 1017
kailash Chaturvedi (3/18/2011 9:41:01 AM): so possiblity of bounce wont ruled out
kailash Chaturvedi (3/18/2011 9:42:34 AM): negative news on cnbc
kailash Chaturvedi (3/18/2011 9:42:39 AM): for rel
Rudra (3/18/2011 9:42:55 AM): Kya hua
kailash Chaturvedi (3/18/2011 9:43:02 AM): reduction of gas supply
Rudra (3/18/2011 9:53:53 AM): Ril under 1000

kailash Chaturvedi (3/18/2011 9:58:59 AM): but when fall in rel will be over .....mkt will shoot up .....
Rudra (3/18/2011 10:00:06 AM): K
kailash Chaturvedi (3/18/2011 10:00:56 AM): ichmoku cloud is at 989 
kailash Chaturvedi (3/18/2011 10:01:32 AM): will it support 
kailash Chaturvedi (3/18/2011 10:01:58 AM): on eod
Rudra (3/18/2011 10:02:51 AM): K
Rudra (3/18/2011 10:03:32 AM): Mere lhyal se jitna todna tha tod diya
Rudra (3/18/2011 10:03:47 AM): Log trap kar rahe. Hai
kailash Chaturvedi (3/18/2011 10:06:43 AM): han icici got support at 1010 
Rudra (3/18/2011 10:06:53 AM): K
kailash Chaturvedi (3/18/2011 10:07:02 AM): rel holded by ichmoku cloud
Rudra (3/18/2011 10:07:14 AM): K
Rudra (3/18/2011 10:09:07 AM): 2 news on rel
Rudra (3/18/2011 10:09:23 AM): Kya

Rudra (3/18/2011 10:10:05 AM): increase in refining margin and decrease in gas production
Rudra (3/18/2011 10:13:02 AM): Sir yeh news iski move ko justify karne ke liye hai
kailash Chaturvedi (3/18/2011 10:14:12 AM): see mkt will bounce now
kailash Chaturvedi(3/18/2011 11:14:59 AM): reliance recovering ....it is at nice support and bounced frm there....now expecting smooth upside move frm here if no inflow of negative news 5420 1015 icici 1003 rel 
Rudra (3/18/2011 11:43:52 AM): Bt u r right media is hell bent on spreading the bad news and suppressing the good news