Are you prepared for trading?

Please answer the below mentioned questionnaire and be true to yourself
Are you prepared for trading?
Ask yourself the following questions:
1. Do I treat my trading/investing like a business? Have I prepared for it the way I would for a business?
2. Do I have a business plan—a working document to guide my trading business?
3. Do I make mistakes regularly (a mistake means not following my rules)?
4. Am I following a regular procedure to prevent mistakes?
5. Do I have a tested system? (Are you having a trading system)
6. Do I know how that …
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Nifty and Bank Nifty under Bear Attack

Bank Nifty
Bank Nifty crashed today after RBI did the shocker raising the Repo Rate hiked by 50 bps . Market was not prepared for this and
corrected 2.3%.
Bank Nifty was unable to cross 11451 levels which was the first sign of bearishness.
As per daily charts bank nifty is still trading in a range of 11451-11000 and till the breakout on either side do not happen Buy near the lower end with 30 Point sl and short near higher end with 30 pt sl will give very good trades.

Levels for Tomorrow
Buy above 11204 …
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Traits of Becoming Successful trader

Every trader need to Identifying his Strengths and Weaknesses
Trading requires as much honesty as is objectively possible. To be able to go over each trade and determine what you did right and what you did wrong requires putting ego aside for the benefit of becoming a better trader. You have to be able to admit “I was wrong”. With that being said, you can move foreword and find out why you were wrong and try to learn from the loss.
You may feel that you can be honest with yourself but …
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Technical Views:HUL and JP Associate

Hindustan Unilever
HUL is showing a classical example of Giving a Breakout@330 Levels than rallying till 348 and after that making a pullback back to breakout levels of 330.

Consolidation after a breakout is  good for stock technically.

So shall a Buy be done in HUL for Short term ?
Buy around 330 Sl 324 Tgt 335,314 and 348


JAIPRAKASH ASSOCIATES LTD
JP Associate is taking support of its upper trendline channel and also trading in a small range facing resistance around 78 levels
and support @76 levels.

Stoch has given a buy as moving above 20.
Buy above …
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Nifty Weekly Technical View

Nifty Hourly
It was a roller coaster Ride for the week which was highly volatile and if you were on Right side would have minted money.
At the end of the roller coaster week, the benchmark finally ended at 5581, losing 1.4% over the week, breaking the 3-week rising streak.
On Hourly Chart Nifty forming a triangle with upside limit at 5610 and lower side limit at 5562.

Nifty Daily
On daily chart Nifty has given a false breakout at 5720  and unable to cross above 5610 which is the breakout level. Sustaining below a crucial …
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Trading with a Trading System

Nifty did again the Unexpected Making everyone Bullish Today  Blue Channel talking about 5800 Traders holding Bulk of Calls and Than came the U-turn and an awesome fall in 15 mins.
Traders who were Long need to cover at long price or might be still holding the Longs in a HOPE of nifty coming up.(Well it can but I am a system trader and System is in short mode)
100 % traders are bearish/bullish – how can market fall now or rise? ?
For every trade to take place there must be a …
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Will Nifty breakdown after Infy results and IIP Data ?

Infosys Technology

The Big Boy is coming with results Tomorrow at 9 Am and Charts also are in fight between bulls and Bears @61.8 % retracement@2880.
From Last 4 Quarter Infy is cracking after its results are declared.

On daily Chart 2880 and 2970 is highly traded range and break of range on either side will give 100 points move.
Sell below 2888 Tgt 2836 and 2792
Buy above 2930 Tgt 2976 and 3017

Nifty

Nifty has been trading in the range of 5740-5601 from past 1 week.

We had false breakout on both Upside(5720 trendline Break and 5197 Lower faslse Breakout)

Today Nifty made a low of 5601 …
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Can money be made in trading ?

Trading is always a high return high risk game and it needs nimble trading approach with tons of discipline.
Nifty moved from Sideways zone in past 4 days to 2 most volatile days Yesterday a rally of 100 points making most of traders bullish and Today gave a fall of 80 Points.
Traders say its  the Big traders who move the market and we end up making loss.
Well i do not buy this reasoning. The most Important part in trading is trading discipline and trading system(Throughly Backtested)
We traded with these levels today …
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Technical Calls:Infosys,Rel Infra and SAIL

Reliance Infrastructure Limited

RIL gave a breakout for the downward trendline on Friday and after that consolidating again from past 2 days with expansion in volumes.
Consolidation after breakout is good for stock as it gives enough strength from next upmove. As of now stock is in zone of resistances
One Bearish Indicator is Negative Divergence in RSI. We would require the Price confirmation for the same.
Buy above 575 Tgt 580,584 and 588
Sell below 570 Tgt 565 and 556

SAIL
Testing times awaits SAIL as it is nearing its 50 SMA which was its previous …
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Technical Charts:Nifty,M&M and Reliance

Nifty Hourly

Nifty hourly is taking a breather after 8 days of non stop rally. Bulls are unable to capitalize on the sound fotting they got on June end month.
Signs of Exhaustion are visible on Hourly and daily charts with Nifty trading in a tight range from 5682-5606 from past 3 days.
Market will soon breakout on either side ie.

Break below 5606 Will take it quickly to 5575(Hourly Support) and 5550.
Break above 5705 will take Nifty to 5750 Levels.

Trade light till this range does not break.


Nifty Daily

On Daily Chart Nifty closed …

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Trading Ideas:TATA Coffee,BHEL,BOI

BHEL
BHEL long term charts with trendline drawn is shown,Reacted from its Trendline resistance @2075 and upmove shall continue else it gets terminated for short term

Buy above 2075 Tgt 2094 and 2113

Sell below 2032 Tgt 2017 and 2008
Bank of India
Trendline Resistance as shown in above Blue(Short term) and Red (Long Term) is providing resistance for upmove.
Indicators are showing strength for short term

Buy above 424 Tgt...

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Nifty Weekly Technical View For Week 4 July

Nifty Hourly Chart
Nifty Hourly chart is showing continuation move in in the parallel channel as shown in the above chart. Nifty sold off from High of 5700 which has been a resistance as marked in previous post.
In Up move Previous support becomes resistance and vice -versa.
5605-5610 was a resistance in previous up move and hence becomes support now. Below it 5575 should provide support below it weakness will come in Short term technical.
The first and most important aspect of trading is finding support and resistance and then planning your trade based on Risk …

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How to Design and Construct An Effective Trading Plan

Success is defined by the achievement of pre-established goals.

The key to becoming a successful trader is identifying, quantifying, strategizing, implementing, tracking, analyzing, learning and growing as a conscious person.
You see, there is no such thing as “easy money”. Let’s get this upfront right now, trading is not easy and not for just anybody.
How many people do you know who have an idea of what they want out of life?
How many people do you know who understand what makes them happy and what fulfils their needs?
Probably not many and this is …
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