bought 4.7 K contract of Index Future worth 191 cores, 379 Long
contract were added and 4.3 K short contracts were squared off by
FII's. Net Open Interest decreased by 4 K contract , so FII are doing
profit booking in short Index Futures.
another life high today @ 7969 and saw a reversal after 2:30 PM, as seen
in below hourly chart, expanding triangle pattern is forming in Nifty
suggesting if 7785-7755 is not held...
Last Week we gave Chopad level of 7801,
Nifty did 3 target on upside our target was 7945 nifty did a high of
7930 and closing a record high and first time a weekly close above
7900. Lets analyze how to trade Nifty in August F&O Expiry week.
Nifty Hourly Chart
Hourly charts is forming an expanding triangle formation which is
bearish in nature if nifty close below 7900. Break and close below 7900
nifty can see 7800/7750 levels. Above 7932 the ....
bought 7 K contract of Index Future worth 276 cores, 2.7 K Long
contract were added and 4.2 K short contracts were squared off by
FII's. Net Open Interest decreased by 1.4 K contract , so FII are going
long ans squaring off shorts in Index Futures.From start of series net
on net basis FII are holding 1.3 K Index longs and 22.1 K Index shorts.
So still there bias is on downside.
Nifty did a fresh
life high today @ 7922,Nifty has rallied 382 points in 8 trading
session and formed a bearish engulfing pattern today, Also on hourly
charts broke the channel bottom after 8 trading sessions, which gives
initial target of 7800-7784. Als0 EW chart also gives the same target.
This all levels get invalidated if Nifty starts trading above 7922 for 1
If you've been trading for a long time, you no doubt have felt that a
monstrous, invisible hand sometimes reaches into your trading account
and takes out money. It doesn't seem to matter how many books you buy,
how many seminars you attend or how many hours you spend analyzing price
charts, you just can't seem to prevent that invisible hand from
depleting your trading account funds.
Which brings us to the
question: Why do traders lose? Or maybe we should ask, "How do you stop
the Hand?" Whether you are a seasoned professional or just thinking
about opening your first trading account, the ability to stop the Hand
is proportional to how well you understand and overcome the Five Fatal
Flaws of trading. For each fatal flaw represents a finger on the
invisible hand that wreaks havoc with your trading account.
Fatal Flaw No. 1 -- Lack of Methodology
you aim to be a consistently successful trader, then you must have a
defined trading methodology, which is simply a clear and concise way of
looking at markets. Guessing or going by gut instinct won't work over
the long run. If you don't have a defined trading methodology, then you
don't have a way to know what constitutes a buy or sell signal.
Moreover, you can't even consistently correctly identify the trend.
to overcome this fatal flaw? Answer: Write down your methodology.
Define in writing what your analytical tools are and, more importantly,
how you use them. It doesn't matter whether you use the