Free Stock market / Nifty intraday tips

DON’T WORRY ABOUT NEWS. IT’S HISTORY.

I have never understood why so many electronic traders listen to or watch CNBC, MSNBC, Bloomberg News or FNN all day long. The talking heads on these programs know very little about market  dynamics and market price action. Very few, if any, have ever even traded a one lot in any pit on any exchange. Yet, they claim to be experts on everything. Before becoming a trading and markets  expert, the guy on CNBC reporting hourly from the Bond Pit, was a phone clerk on the trading floor. Obviously, this qualifies him to be an expert! He, and others, can provide no utility to you. Treat it for what it really is entertainment. The fact is: The reporting that you hear on the business programs is old news. The story has already been dissected and consumed by the professional market participants before news has been disseminated do not trade off of the reporting. It’s too late.

Nifty Futures Calls

(Updated on 04-06-2012 Time 8.50 AM)

As expected in last session NF remained below 4920 and it after taking

out 4885 it plunged down to 4815.

We had written lower levels are 4844-4826.

Given the foreign markets worst still don’t seem to be over.

Now For Today…

Trading below 4782 will drive it even lower to 4754-4732.

If sustained below it may open the door for even

dipper levels to  4715-4680.

4840-4848 are upward barrier.

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THE FIRST LOSS IS THE BEST LOSS

Once you come to the realization that your trade is no good it’s best to exit immediately. It’s never a loser until you get out and Not to worry, it’ll come back are often said tongue in cheek, by traders in the pit. Once the phrase is stated, it is an affirmation that the trader realizes that the trade is no good, it is not coming back and it is time to exit.

Nifty Futures Tips

(Updated on 31-05-2012 Time 8.50 AM)

Given the foreign markets, Nifty Future likely to open down

by about 40-45 points.

Trading below 4920 will drive it even lower up to 4902-4892.

Sustained Trading below 4885 will cause panic free fall up to 4844-4826.

Hurdle at 4974-4985 area intraday upper levels.

Bearish view below 4920.

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EARN THE RIGHT TO TRADE BIGGER

Too many new traders think that because they have $25,000 equity in their trading account that they somehow have the
right to trade five or ten e-Mini S&P contracts. This cannot be further from the truth. If you can’t trade a one lot successfully, what makes you think that you have the right to trade a 10 lot? I demand that my students show me a trading profit over the course of ten consecutive trading days trading a . one lot only. When they have achieved a profitable ten-day period, in my eyes, they have earned the right to trade a two lot for the next ten trading . sessions. Remember: if you are trading poorly with two lots you must lower your trade size down to a one lot.

Nifty Future Calls

(Updated on 29-05-2012 Time 8.33 AM)

Yesterday’s session saw steady but nice gain.

As we had written yesterday trading above 4931-4938

drove NF went up to 4988.

Short term trend likely to remain intact and move up to 5019-5034-5049

if trades above 5001-5009.

4970-4955 support area. Trading below 4955 with volumes for 15-20 minutes

will drag NF to 49022-4907 levels.

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