Free Stock, Commodity, Forex Trading Tips & Education Articles

Nifty Future

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Nifty Future

(Updated on 25-07-12 at 07.50 am)

Yesterday we indicated here that above 5132 NF would touch

5156 at higher level and in downside it would take support at 5107.

 Now see the yesterday’s high which is 5153 and low is 5107

Now What…

The short term trend without doubt is bearish and as long as it is not

able to close above 5187 it will remain bearish.

Break below 5118 with sustained volumes and

level for 10-15 minutes will extend more downside upto 5107-5097.

5148-5153 is hurdle zone.

After taking out this level and if sustains then expect 5168-5181

5081-5064 in panic selloff may not be ruled out.

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Banknifty Spot

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Banknifty Spot

(Updated on 24-07-2012 at 08.40 am)

Sell below 10410-10470 on rise.

Trading above 10310 will elevate more

up to 10348-10366-10387

Breakout below 10239 will deteriorate sentiment

further and See 10217-10200

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Nifty Future

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THOUGHT FOR TODAY

Open Mind
The mind is like a parachute – it works best when it is open. How quickly we make assumptions, jump to conclusions and close our mind. How easily we form and hold fast to our opinions and then close our mind. How fast do we make a judgement, slap on a label and then close our mind. A closed mind never knows the delight of playing with possibilities, being enlightened by others point of view or enjoying the diversity of human life. An open and understanding mind never assumes, doesn’t jump to conclusions and won’t hold fast to any opinion. Perhaps it is no wonder a closed mind is not a very relaxed mind.

Nifty Future

(Updated on 24-07-12 at 08.20 am)

See the accuracy of our levels we had written yesterday.

We mentioned that fall up to 5158 was on card and breakout below

5158 would even drag lower upto 5111.

Now see the NF low i.e 5111.55

Now for today

5132-5144 zone is intraday hurdle.

Sustains above this level with volumes then see 5156-5167.

5167-5188 is strong hurdle going up.

Breakout below 5104 will trigger more downside up to

5090-5071.

If more panic persists then 5054 not ruled out.

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Rich Trader

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rich-trader

Many new traders are taken out of the trading game through bad mental practices. Here are some things that top money managers have shared through interviews and books that may help traders who are making mental mistakes in their trading.

Ten Powerful Psychological Traits of the Rich Trader

  1. They have the ability to admit they were wrong and get out of a trade. They know the place where price proves them wrong.
  2. They have the ability to not only close a losing trade but reverse and go in the other direction when it is called for.
  3. The rich trader is not trying to prove anything about themselves they are focused on making money.
  4. They do not fall in love with an idea, currency, commodity, or stock they will make trades based on price action.
  5. Rich traders know that the market action is their ultimate boss regardless of their opinions.
  6. No matter how sure they are about a trade they still ALWAYS manage the risk.
  7. Rich traders get more aggressive when winning and trade smaller or take a break during a losing streak.
  8. A great trader is one that can admit to anyone that they were wrong.
  9. Rich traders do not believe their own hype, they know they can not really predict the future they can only react to current reality and the probabilities.
  10. Rich traders love what they do, win or lose.

When you are trading like that, it is hard to be beaten. Time is your friend.

JUBILANT FOODWORKS LTD

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(Future Stock)

JUBLFOOD 1296- 1305

Intraday profit booking can be 1286 to 1296

Buyers will come 1242-1249

Don’t hold your position 1239 below…!

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Share Tips updated on 23-07-2012 at 09.00 am

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ICICI BANK

Sell below 940.

Break below 932 expect slide upto 924-921

Axis bank

Below 1036 slide upto 1023

1010-1012 is short term support

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