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Reliance Capital at 310 For Target=325-332 1st 2 Targets Achieved
Axis Bank at 982 For Target=992-998-1008 All Targets Achieved
ICICI Bank at 810 For Target=822-827-833 All Targets Achieved
Reliance Infra at 448 For Target=459-467-479 All Targets Achieved
Tata Motors at 270 For Target=277-283-287 1st Target Achieved
We picked above long counters relatively earlier before the trend reversals so that subscribers earn handsome gain. To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
In all of my years as a trader I never traded more than a 50 lot on any individualtrade. Sure, I would have liked to be able to trade like colleagues in the pit who were regularly trading 100 or 200 lots per trade. However, I didn’t possess the emotional or psychological skill set necessary to trade such big size. That’s OK. I knew that my comfort zone was somewhere between 10 and 20 lots per trade. Typically, if I traded more than 20 lots, I would butcher the trade. Emotionally, I could not handle that size. The trade would inevitably turn into a loser because I could not trade with the same talent level that I possessed with a 10 lot.
Nifty Future
(Updated on 28-05-2012 Time 8.30 AM)
As our projection, we have indicated again and again that markets were over sold
for quiet a long time and any short at lower levels might trap traders.
NF has intraday support at 4897-4873.
Trading above 4931-4938 with volumes may take it to 4978-4996 area.
Where it may face hurdle
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DEVELOP A METHODOLOGY AND STICK WITH IT.DON’T CHANGE
METHODOLOGIES FROM DAY TO DAY.
I require my students to actually write down the specific market prerequisites (setups) that must take place in order for them to make a trade. I don’t necessarily care what the methodology is, but I do want them to make sure that they have a set of rules, market setups or price action that must appear in order for them to take the trade. You must have a game plan. If you have a proven methodology but it doesn’t seem to be working. in a given trading session, don’t go home that night and try to devise another one. If your methodology works more than one-half of the trading sessions, then stick with it.
Nifty Future Tips
(Updated on 22-05-2012 Time 08.50 AM)
In our earlier post, we indicated the 4765 was one of the level that might reverse the trend.
The market dipped to and bounced off that level.
We also told that markets were in extreme oversold levels
and shorting is not advisableat that much lower levels.
Now for Today…
NF seems to open with positive note.
Trading above 4827-4834 for 15 minutes or more will take it to 4865-4892.
In lower direction 4800-4777 are intraday support zone.
In panic selloff 4765-4752 may not be ruled out.
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We have all violated this rule.However, it should be our goalto try harder not to violate it inthe future. What we are reallytalking about here is the greed factor.The market has rewarded you by moving in the direction of your position,however, you are not satisfied with a small winner. Thus, you holdonto the trade in the hopes of a larger gain, only to watch the marketturn and move against you. Of course, inevitably you now hesitate andthe trade further deteriorates into a substantial loss.There’s no need to be greedy. It’s only one trade. You’ll make manymore trades throughout the session and many more throughout thenext trading sessions. Opportunity exists in the marketplace all of thetime. Remember: No one trade should make or break your performancefor the day.Don’t be greedy.
Nifty Future Trading Tips
(Updated on 17-05-2012 Time 08.50 AM)
Yesterday we had written that 4845 is important level.
Market bounced off from the low of 4827.
Now Today…
Trading Above 4869 for 15 minutes will drive it to 4886-4903.
It will add more strength after clearing hurdle at 4925 on closing basis.
4845-4819-4765 are important lower levels.
Major Trend is Negative, but Immediate and short term trend may reverse
since markets are in highly oversold zone due to considerable and consecutive fall
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