Dravas Box Trading:Apollo Tyre,Crompton Greaves and BPCL

[ Monday, September 15 | 0 comments ]

Apollo Tyre

Closing below 206 short term target comes @ 199 and 193.

Buy above 209.1 Tgt..

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Nifty Weekly Forecast for 15-19 September

[ Sunday, September 14 | 0 comments ]
Last week we gave  Nifty Chopad level of 8107 and Nifty did 1 target on downside in choppy week of trading  as weekly range was just 123 points, Lets analyze how to trade in coming week.

 Nifty Hourly Chart

nifty hourly
Nifty Hourly charts trading in channel and also seeing an convergence of 21/34 ema suggesting a range expansion will happen in coming week. Holding 8050 bounce back can be seen till 8200/8240,Break of 8050 will see a pullback till 7950.

Nifty Hourly Elliot Wave Chart

Nifty Hourly EW
Hourly EW is showing if 8128 is not crossed correction tilll 7984.


Nifty Daily Chart

Nifty Daily Bias
Nifty daily chart bias has turned from bullish to neutral..
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How to Build Good Trading Habits in Three Simple Steps

[ Saturday, September 13 | 0 comments ]
You should keep a trading journal of every trade you make! Backtest every system for at least 1,000 trades! Brush your teeth before bed!
All of this is sound advice. However, how many traders actuallyfollow this advice? Do you? I would bet that less then a third of you reading this article keep a trading journal. Don’t get me wrong, I’m not special. I didn’t keep a record of my trades during the first few years of my trading career. This changed one year ago. Here are the tips that helped me to finally create this habit. These rules are not specific to trading and can be used to build any habit in any area of your life!
The 1 Minute Rule

How do we get on the path of building a habit? This is where the 1 minute rule comes in! If your goal is to keep a trading journal, at
the end of every trading day, take one minute and write down your trades. Even simpler, at the close of trading just write down 1 sentence. This could be your best or worst trade of the day, your trading mood, or a combination of both. Here’s an example:
‘’May22nd: I took a signal where there wasn’t any and I proceeded to lose 4000 as the Nifty  moved against my position’’

Based on a true story. Okay it IS a true story. But as I started to write this down in my journal, I found myself needing to explain why the trade was a mistake. And I wrote more then one sentence, a lot more.

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Bitter Truth about Trading

[ Friday, September 12 | 0 comments ]
As a Trader it totally amazes me to see how we are almost "hard-wired" to do all the wrong things. It’s almost as if we were put on this planet to determine how many ways we can mess up our trading.How do you respond to a loss? How you respond to losing trade.
During my trading session I ask my students to sit down and write  on, "Why I lose money in trading, Why I fail as a trader " Be honest with yourself. What are your typical excuses?
You might write something like this:
“I was desperate. I was running out of money, and I needed to do something. I really didn’t want to go back to work, so I had to make money. As a result, I really didn’t have time to do a trading plan Instead, I just made trades.”
For the 30 minutes that it takes to do "Why I lose money in trading, Why I fail as a trader ” exercise, give yourself a break and be brutally honest. You know that you’ll con yourself in order to not make any progress. Treat this exercise as a test to determine just how you con yourself. Can you be honest and tell it like it is, o..
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Nifty Elliot wave Analysis

[ Thursday, September 11 | 0 comments ]
  • FII's bought 773  contract of Index Future worth 32 cores, 6.1 K Long contract were squared off and 6.9 K short contracts  were squared off by FII's. Net Open Interest decreased  by 13 K contract , so FII squared off both  long and shorts in Index futures.
Nifty opened with gap up , touch the upper band of Hourly channel and fall down to touch the lower end of trading range, As disucssed yesterday analysis  8050-8060 needs to be watched closely in coming 2 session, Nifty made low of 8057 and bounced back. On Upsidse move above 8135 can see Nifty moving back to 8160-8170 odd levels.As per EW analysis Nifty can

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