Bank Nifty Weekly Analysis November Expiry

[ Sunday, November 23 | 0 comments ]
Last week we gave  Nifty Chopad level of 17126  . Lets analyze how to trade Bank Nifty in coming expiry week.

Bank Nifty Hourly

Bank Nifty Hourly
Bank Nifty Trendline support comes @ 17700, Bank Nifty can rise all the way to 18500 before any profit booking comes in.


Bank Nifty EW Daily

BN Daily EW
Bank Nifty daily chart is showing impulsive 5 wave..
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Nifty Weekly Analysis November Expiry

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Last week we gave  Nifty Chopad level of 8416  Nifty continued with its upward journey and make new life highs. Reserve Bank of India is scheduled to release the current account deficit (CAD) numbers for Q2 September 2014 on Monday, 24 November 2014, also Winter session will start . We have the expiry week so expect volatile moves.

 Nifty Hourly Chart

nifty hourly
Nifty Hourly charts has meet its trendline resistance @ 8490,Breaking the same we can see another round upmove  till 8546/8597.

 Nifty EW Chart

Nifty Hourly EW

 

EW on Hourly chart is shown above..

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Nifty Box Analysis

[ Saturday, November 22 | 0 comments ]

Nifty BOX Analysis

Box_1

As seen in above Nifty Box Nifty made low of 2252 on 27 October 2008 and High of 6336 on..
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Nifty medium term view using Gann

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As discussed on 15 Oct when Nifty was trading near 7723 above the possibility of 8500/8700 levels, Targets are on verge of Hitting..

Nifty has been in correction mode ever since it hit the High of 8180 on 08 Sep 2014, It has been in sideways choppy mode from that point of time.As discussed in our Facebook page we are seeing some big move coming in Nifty.
Using Gann 52 concept , classic technical Analysis I am putting forward the view till end of 2014, use the below view as an input to your trading/investing plan, Do not blindly follow the same, trading is all about probability and we are analyzing one of many probability.

1. Trendline Support

Trendline
2. Hammer Candlestick formation Hammer

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The 7 Secret Elements To Successful Day Trading

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1. Successful traders stay neutral:
Staying neutral means to be emotionally detached from your trading decisions. I've met many day traders that were emotionally suffering for the rest of the day after losing 1000 or even less and when they made 10000 they would be "on top of the world". They are definitely not trading neutral.
If you are like that, then your trading will definitely be driven by fear and greed; if you are down 1000 you probably don't want to take a loss, just because you know that you will be emotionally suffering. If you are up 10000 you might want more, even though you should take profits. Or you might end up taking profits way too early because you are afraid that the position might turn against you. The professionals don't let the day-to­day oscillations in their account faze them. The results of one week don't matter much, not even the monthly results. It's just a small blip of time in their career, so the day-to-day oscillations don't really matter. Emotional ups and downs are pretty normal for beginners. If they influence your trading decisions too much, then I would strongly advise you to go back to paper trading in order to gain the confidence you need to not let those oscillations affect you too much.
Staying neutral also means to see the price movements like they really are, not how you want them to be. You might all know the situation where a trade is going against you, and you start looking for other reasons why it is still a good trade and you should hold it. This is very dangerous since it leads people to breaking their stops and to lose big. Your entry and exit criteria has to be absolutely clear before you make a trade. Switching strategies while you are in a trade is one of the worst things you can do. You can always find a reason for your position to go up or down, but you don't see the actual price movement a..


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