Investing is not all fun and gaming. Investors do not produce money on all trade, most don’t even reach money on half their investments. It is not like other occupations, opportunities, or interests where you work and then get paid. Our interest is more like the life of an businessman. Our strategy may work or it may not. The equity, option, or futures agreement we just bought may go up in value or it may fall. After many years of hard work we may have enough capital to pay off our house or lose $50,000 of our hard earned money. We may become a rich person in a runaway bull market or waste five years of hard work with nothing to show for it.
Last Close :6173
Today ,Just watch 6154 as Crucial Support level.
Break below this level with volumes and stays below for 20 minutes or more will take to 6128——6119 level in PANIC.
Break below 6119 ,Next Target :6093-6084 level in hrs only.
So lots of new traders spend a very long time in the group of no improve. Likely around and around chasing the incorrect things, being attracted into buying too much valuable programs that do not work. They search for the easy solution as a substitute of simply doing the work. There are many awesome educational information for traders online but it is never just an easy wander to money. The best money mangers in the world do perfectly to turn 20% annual profits with massive resources of computers and people. It is possible to do much better as an specific trader but chances is constantly there prepared to accept back your hard earned profits. The markets are reverse instinctive and generally do whatever fakes out the most people. Trading is a dedicated business that can changes a traders life but before you are willing to the work you have to stop all the silliness and move past what does not work.
Last Close : 6222.65
Yesterday FIIs bought 59465 contracts of Index futures and sold 56439 contracts of Index futures that come to net buy of 3026 contracts worth 110 crores with net open interest increasing by 14306 contracts.
Looking at all above basic facts it appears that FIIs slowing started going short in Index futures…!
Huge buying from FIIs is the main reason why a Nifty future is now above 6200 mark. Global liquidity supported market, thus now trading at 3 year high…!!! As per data with SEBI, FIIs so far in 2013 had invested Rs.80174 Crores…!
What is for Future?
Now for upcoming few days we see a range in Nifty future, may be 6143 on the lower side and 6350 maximum on the upper side..!!! Market likely to remain very volatile in coming months.
Technically saying, the Nifty has crossed the 6150 mark and now faces resistance at the May 2013 highs at 6239.
Nifty is inside top-flight process. Under Daily chart pattern, we-all could definitely see the extension. 6239 of nifty future may act as hurdle and dip towards 6070 once again. Trade carefully in direction of upside.
Yes, Short Trader can enter in short side with low quantities at tops level of nifty future… and long traders advisable to book profit this level.
Possibility to jump 6280 by nifty future but short trader will attack on every higher level of nifty as per our view.
MORE DETAIL is for Subscribers only
SELL 6228 and 6256 for targets 6155 and below this level, you might see 6100 below …
Lesson For Trading
There are lots of items choose. The markets are not an simple place to create money at will, in agreement markets like futures and choices it is a zero sum game. Which means for you to make money someone else has to miss money,there is someone on the other side of each business, you have to be right and they have to be wrong for you to create money. If you purchased a stock and then it goes up then the person you bought it from missed out on the profits that you just made. The market can go in both directions, not just up. Stock investing is a lot like the game of survivor, you have to out wit, out last, and out play to make money in the long term.
Last Close : 6226.15
Yesterday FIIs bought 55720 contracts of Index futures and sold 50325 contracts of Index futures which come to net buy of 5395 contracts worth 167 crores with net open interest increasing by 6779 contracts.
Thinking about all preceding details it seems that FIIs did short covering in Nifty Futures and still in Bank Nifty, Still no indication of fresh long.
Huge buying from FIIs is the top reason why a Nifty future is now above 6200 mark. Global liquidity supported market, therefore now trading at 3 year high!!! As per data with SEBI, FIIs so far in 2013 had invested Rs.80174 Crores!
What for Today And for Future Days?
Now for upcoming few days we see a range in Nifty future, may be 6143 on the lower side and 6350 maximum on the upper side..!!! Market likely to stay very changeable in coming months.
On specialized charts, it seems that Zig Zag pattern, which started from the lows of 5118, is in its last leg of upmove which has an instant target of 6282.
Theoretically saying, the Nifty has crossed the 6150 mark and now faces resistance at the May 2013 highs at 6239.
The Top 10 Mistakes Most New Traders Make
They trade first, educate themselves second. Read several books written by people that have made money in the markets. Research online about Rich Traders and their methods. Follow the twitter accounts of real traders that make money. Facebook friend successful traders if you have the opportunity. Learn to back test different systems to see how they performed historically. Study chart patterns and market history. Study, read, and grow.
They are quick to take profits and slow to take losses. This makes your profits small and your losses big not to mention just very stressful. Do the opposite, let your flowers grow until they stop growing and pull your weeds immediately.
New traders just trade too big. It is better to have a big win with a small position size than a small win with a big position size, why? Risk. You have to take small risks, like cutting losses when you are down 1% of total account equity on one trade. Why? So five to ten losses in a row do not remove you from trading sooner or later.
New traders let the ego take over. The ego is a terrible trader, it brags about its wins, denies its losses and never admits when it is wrong. Trade with a plan not with an ego.
They make up how to trade as they go. Before you place a trade you need to know your entry point, exit points, and the position size you will be trading and why you think it will be successful. Making this up as you go along is a formula for disaster.
They never choose a trading style. Investors turn into day traders when fear drives them out. Trend traders turn into swing traders when they lose many times in a row. Day traders turn into investors when they just can’t cut a big loss. Choose a strategy and time frame and stick with it.
They get greedy. Failing to know when to take a profit off the table when it begins to retrace can turn a winner into a loser. Have a plan for a trailing stop and how to exit with profits.
Focusing all their efforts on entries and setups. The entry does not make you money the exit does. Focusing on how to cut losses when you are wrong about a trade and set trailing stops on winners is the real way to make money in the markets.
Focusing on hot tips instead of correct trading. Developing a winning method, managing risk, and clear thinking is what makes money in the markets in the long term not trying to trade tips or be given trades. Tips are for waiters trading set ups are for traders.
Following a guru. If a ‘guru’ is offering to sell you a secret system or formula instead of teaching you how to trade on your own then beware. You want to learn how to fish not be sold a fancy fishing pole they may only work in some waters.
Last Close : 6210
Today it should cross 6224 with volumes and sustains for 20 minutes then only more Strength
Target :6240—6279———————6305 level in hrs only.
Very soon ,We see 6400-6420 level !!!!
3DEMA @ 6150 ,7DEMA @ 6105 levels will act as support levels.