Stock Trading:Sun Pharma,Maruti and IDFC

IDFC

IDFC is again taken support at fibo fan on weekly chart. Positional trades watch for close above 89 for target of 92 and 97.
Intraday traders can use the below mention levels

Buy above 89.8 Tgt..

 

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Bank Nifty Weekly Technical Analysis

Bank Nifty will likely take cues from  June quarter current account deficit and will remain volatile tomorrow.The RBI will release the June quarter current account deficit tomorrow. Government aims to contain current account 3.7 per cent of GDP for the entire fiscal.
Lets analyze how to trade Bank Nifty in coming week.

Bank Nifty Hourly

Bank Nifty on hourly chart  has now taken support at 9900, Any break below the chopad level of

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Nifty Weekly Technical Analysis

Last week we gave Trend Deciding level as 5984 Nifty  Nifty achieved 2 weekly target with a gain of 168  points.
Will US government Shut Down, Italy Political Situation and Aug Fiscal deficit  figures coming out on Monday will dictate the trend for coming week.
Indian Market will remain close on 2 Oct on account of Gandhi Jayanthi.
Lets analyze how to trade Nifty next week.

Nifty Hourly Chart

Nifty Hourly charts looks has again stopped the Friday's fall at..

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FII FnO data analysis for 30 Sep

• FIIs sold 8868 contracts of Index Future (sold 3431 long contract and  5437 shorts were added ) worth 243 cores with net Open Interest increasing by 2006 contracts.FII's have shorted Index Futures

Nifty continued to move in the trading range, today formed bearish engulfing pattern but it took support at the rising trendline. Monday's price action will further unravel the mystery. Market moves will be choppy going forward till the range of 5798-5920 is not broken. We have monthly closing also on Monday bulls..

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Trading Lesson Learnt From my Trading Guru Part-III

In Continuation with the previous 2 articles
Trading Lesson Learnt From my Trading Guru
Valuable Trading Lesson Learnt From my Trading Guru Part-II
Before starting the article a small note, If You Really Enjoy my article, Could you please do me a ‘Huge favor’ after you have finished reading today’s lesson. Please click the Facebook Link below this article. Most importantly, make sure you share your feedback by using the comment box below. I appreciate your support.
 “Have the courage to trade in big quantity ”
He meant the willingness to carry a very, very large position when you have a high degree of conviction and the risk/reward makes sense.
This is actually the flip side of  My Guru's last pearl of wisdom-..

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Swing Trading Calls:ICICI Bank,IndusInd Bank and Auro Phrma

ICICI Bank

ICICI bank is trading in a perfect downtrending channel and very near to an important gann number of 953,Swing Traders looks for close above 953 stock is heading towards 966 and 987. Any close below 932 stock is heading towards 898 in short term.

Buy above 947 Tgt..

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Nifty October series overview as per FII data

• FIIs bought 50350 contracts of Index Future (sold 1.2 Lakh long contract and  1.04 Lakh shorts were squared off ) worth 1497 cores with net Open Interest decreasing by 2.2 lakh contracts.Nothing much to read in these numbers.

Nifty continued to move in the trading range and finally expired above 200 DMA, Yesterday Nifty formed an hammer pattern but failed to show follow upmove today.Tomorrow we have weekly closing, bulls want to close above..

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BHEL,Coal India and JSPL Trading levels

BHEL

BHEL has formed a bullish engulfing pattern today,any trade above 145 can lead to further rise till 149 odd levels.Positional traders keep eye on 144 odd level any close above it BHEL is heading towards 156 odd levels.
Intraday Traders can use the below mentioned levels

Buy above 145 Tgt..

 

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Nifty Sep Expiry Analysis

September Series is coming to an end, It has been an eventful series with Nifty making a low of 5303 and High of 6142 a move of 839 points, Stock market moved from the zone of extreme pessimism to over exuberance. Well thats the beauty of Stock market. The last 10 days has been quiet challenging for traders with Nifty swinging in a small range, frustrating traders on both ends, But traders who are following our Trend Decider level should have made good points. We have discussed in our weekly analysis September will be a bullish month and market obliged us.

FIIs sold 5346 contracts of Index Future (bought 2962 long contract and  8308 shorts were added) worth 130 cores with net Open Interest increasing by 11270 contracts.FII's..

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Journey of a trader

A goal of every trader is to achieve enduring success. It's hard to achieve this goal, however. The only way it can be done is through persistence and practice. Many are drawn to trading, but few can actually trade for a living. This is a discouraging fact of trading, but one need not dwell on it. When one first embarks on a trading career, it makes little sense to immediately rule out the possibility of making huge profits. You don't know whether or not you will be one of the few who will make the grade. In the meantime, it's useful to focus on more short-term, immediate goals: you should focus on learning reliable trading strategies, building up trading skills, and identifying personal psychological limitations that may impede your performance. And perhaps the best piece of advice a novice trader can follow is to focus on the few key things that one is doing right, use that as a foundation, and then build up your trading skills, and your self-confidence, from there.
Even the least profitable trader does ..


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Intraday Trading Calls:Hindalco,Jsw Steel and Cairn India

Hindalco

Trading in a perfect up trending channel. Any break below 110 can see the stock sliding towards 102 odd levels in short term.Trading above 113 will take the stock to its recent swing high of 119.
Intraday Traders can use the below mentioned levels

Buy above 114 Tgt...

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Nifty Trading Levels as per FII data analysis

• FIIs bought 27749 contracts of Index Future (bought 45251 long contract and  17502 shorts were added) worth 856  cores with net Open Interest increasing by 62753 contracts. SO FII's went aggressively long today.

Nifty opened below the upward rising trendline and near its 200 DMA, and closed near to the trendline confusing both Bulls and Bears.Bulls will try to protect the 200 DMA and bears will get upper hand as soon as Nifty start trading below the Chopad levels of 5806.Price Action Strategy has ..

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Swing Trading:SBI,Rel Infra and Ranbaxy

Rel Infra

Reliance Infra was unable to close above its 200 DMA and also closed below an important gann  number of 412.Any close below 398 will lead to further downside till 390 and 377 in short term which can be capitalized by swing traders. Bullish only on close above 412 for a short term target of 423 and 432.

Buy above 411 Tgt..

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How to trade Bank Nifty in Expiry Week

Last Week we gave the Trend Deciding level as 10236  Bank Nifty made low of 10175 on Monday giving an excellent entry in longs and eventually reached all the Weekly Levels.  The last week was one of the best week and worst week as Bank Nifty was up by 7% of Fed decision to continue tapering and down by 4% after RBI governor surprised market by increasing the REPO rate.
The week ahead promises to be quite interesting with the September derivative contracts set to expire on Thursday.The outcome of German elections, PMI data and FII flows will be the key metrics that investors would be watching next week.
Lets analyze how to trade Bank Nifty in coming week.

Bank Nifty Hourly

Bank Nifty on hourly chart  has now taken the resistance at its long term trendline at 11219 and gave a fall.Bank Nifty has taken support at 50 HMSA, and any close below..

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How to trade Nifty in Expiry Week

Last week we gave Trend Deciding level as 5806 Nifty  Nifty achieved all Weekly target on upside with a gain of 271 points. September series has been quiet interesting with Nifty gaining 824 points or 10% in just 12 trading sessions.  Both Fed and RBI surprised the market leading to volatility in stock market. Next Week is September Expiry which promises to be action packed week with bouts of volatility required for Rollovers in Futures.
Lets analyze how to trade Nifty next week.

Nifty Hourly Chart

Nifty Hourly charts looks like a chart of an illiquid mid cap stock with so many gaps formed . Nifty is respecting its up trending trendline and 50HSMA,Any close below 5932 will lead to a fall till 5816 odd levels.

 Nifty Gaps

For Nifty traders who follow..

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Basic of Volume and Open Interest

Definition of 'Open Interest'

The total number of options and/or futures contracts that are not closed or delivered on a particular day.
Few Scenarios to Understand OI
If a new buyer (a long) and new seller (a short) enter a trade, their orders are matched and open interest increases by one
If a trader who has a long position sells to a new trader who wants to initiate a long position, open interest does not change as the number of open contracts remains the same.
If a trader holding a long position sells to a trader wanting to get rid of his existing short position, open interest decreases by one as there is one less open contract.

Volume definition as per Investopedia

The number of shares or contracts traded in a security or an entire market during a given period of time. It is simply the amount of shares that trade hands from sellers to ..

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Trading Calls:LT,Bajaj Auto and Petronet

LT

LT trading in perfect up trending triangle and has taken resistance at 100 DMA, Any close above 898 will give short term target of 932, Failure to do so LT is falling back to 843.
Intraday traders can use the below mention levels

Buy above 898 Tgt..

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Nifty Outlook and trading level before RBI meet

• FIIs bought 99802 contracts of Index Future (bought 80352 long contract and  19450 shorts were squared off) worth 3010 cores with net Open Interest increasing by 60902 contracts.So Fed kept the money flowing to India and FII have again been a net Buyers in Index Futures.

Nifty in past 6 days was trading and consolidating above 200 DMA, and opened with big gap of 200 points, Many were surprised by the move and ferocity of the move but readers of the blog would have enjoyed the rally, We have discussed September is Bullish month for Indian markets, In Nifty Weekly Analysis clearly mentioned till it trades above..

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Insider Trading in Gold before FOMC announcement

Gold Jumps Most in 15 Months as Fed Refrains From Taper , Gold prices spike after Fed announcement but some controversial facts shows Insider Trading happened in Gold. Some traders were aware of the FOMC news before it was released.
Here is the fact:
Around 4300 contracts changed hands in the Dec Futures - massively more than average volume - before the statement came out and drove prices further up.
In those 3 minutes Gold prices jumped $11... so the question is - lucky guess... or which big bullion bank got the nod?

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Stock Trading:JSPL,Raymond and Ranbaxy

Jindal Steel

JSPL is over verge of triangle breakout . Any close above 254 gives short term target of 267.
Intraday Traders can use the below mentioned levels

Buy above 250 Tgt

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US Fed no taper,FII data analysis

• FIIs bought 4685 contracts of Index Future (bought 12283 long contract and  7598 shorts were added ) worth 144 cores with net Open Interest increasing by 19881 contracts.

FED REFRAINS FROM QE TAPER which will be bullish for Indian market and Indian rupee. Nifty continued trading in its sideways range of 5800-5950 and closing above its 100 and 200 DMA. I am firm believer of trading on system and being with trend. Nifty has been consolidating in 150 points range and it was in..

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FII FnO Data analysis for 18 Sep

• FIIs bought 20132 contracts of Index Future (sold just 388 long contract and  20520 shorts were squared off) worth 592cores with net Open Interest decreasing by 20908 contracts. SO FII's today were on short covering spree and in series net on net they have covered most of shorts still holding significant amount of long contracts.

As discussed in yesterdays analysis Nifty will continue to move in choppy market frustrating market participants,Nifty continued trading in its sideways range of 5800-5950 and closing above..

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Questions to Ask before trading

If you want to trade in Stocks/Commodity/Forex  you need to know what you're getting into. Trading is not for gamblers but for professionals.For many novice traders trading looks easy  but after few trades harsh reality of trading comes out. To make your job easy i am discussing few important question you need to ask yourself before taking the trade.
Here are the list of most important question to ask yourself before you put on a trade.

• Does this trade fit my chosen trading style? Trade I am taking is Intraday or Positional trades.

• Does this trade is it just based on my own fear or greed or impulsive behavior. Trade is taken as per my trading system or Based on your intuition.

How big of a

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Stock Trading:BoB,HCL Tech and Maruti

Bank of Baroda

Bank of Baroda is respecting its Fibo fan levels and also closed below an important Gann number of 555.Bullish move above 555 for target of 576 and 589. Positional Shorts should be initiated below 520 for target of 500 and 476.
Intraday Traders can use the below mentioned levels

Buy above 539 Tgt..

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Nifty holds 200 DMA in volatile trade, FII Data analysis

• FIIs sold 664 contracts of Index Future (Bought 5011 long contract and  5675 shorts were added) worth 46 cores with net Open Interest increasing by 10686 contracts. SO FII's are doing Intraday trading in market and enjoying the market volatility. As 2 major news based event in coming 2 days so less commitment to overnight positions.

Nifty continued trading in its sideways range of 5800-5950 and closing above its 100 and 200 DMA.  Today was a perfect day of consolidation with volatile move ..

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Indian Rupee Technical Analysis

In Our last analysis, Has Indian Rupee made Short term Top, Weekly Analysis Rupee made the top and started correcting achieved our last target of 64.4.  Lets analyze where is Rupee heading in coming week we have crucial event as Fed Tapering and RBI Policy.

USD INR Hourly

USD INR Hourly charts have pulled back from..

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Positional and Delivery Stock tips:PNB,DLF and LT

PNB

PNB has been following its fibo fan perfectly. Stock is near very important Gann number of 521. Any close above 521 gives short term target of 555.
Intraday Traders can use the below mentioned levels

Buy above 521 Tgt..

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Nifty Weekly Overview before RBI Policy

Last week we gave Trend Deciding level as 5686 Nifty  Nifty opened with big gap up and traders were unable to enter longs :( .The government unveils data of inflation based on the wholesale price index (WPI) for August 2013 on Monday, 16 September 2013. WPI inflation is seen accelerating to 5.9% in August 2013 from 5.79% in July 2013, as per the median estimates of a poll of economists.The FOMC holds a two-day policy meeting on Tuesday 17 September and Wednesday 18 September 2013 to decide on Fed Tapering. The Reserve Bank of India will release a Mid-Quarter Review of Monetary Policy 2013-14 at 11:00 IST on Friday, 20 September 2013.
Lets analyze how to trade Nifty next week.

Nifty Hourly Chart

Nifty Hourly charts as shown above is trading in a channel,Unable to close above ..

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Bank Nifty Weekly Overview before Fed Policy

Last Week we gave the Trend Deciding level as 9976  Bank Nifty opened with Huge Gap up but 11 Sep gave us entry made low of 9980 just 4 points away from our Trend Deciding levels and achieved 2 target on upside.
The data on wholesale price index (WPI) for August 2013, the outcome of Federal Reserve's policy meeting and the outcome of Reserve Bank of India's mid-quarter review of monetary policy 2013-14 will dictate trend of Bank Nifty in the coming week. Traders needs to be cautious on overnight positions as good probability of gap up and gap down. Headge the positions. Lets analyze how to trade Bank Nifty in coming week.

Bank Nifty Hourly

Bank Nifty on hourly chart after breaking out of the down trending line shown in blue color will now face resistance at red line @10521.Unable to cross the same pullback to..

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Valuable Trading Lesson Learnt From my Trading Guru Part-II

Continuing with my previous week article Trading Lesson Learnt From my Trading Guru
I hope many traders who are trading or willing to start trading will be facing with the same dilemma and confusion so today am sharing few fundas i got from my trading guru. Use them and see the change in your trading.

 As a traders its not mandatory to be in market all the time.

The basic mindset of amateur trader is we are  supposed to have a position, in market all the time.
My GURU Answer: Emphatic NO.
This is one of the most difficult things to learn. Psychologically, it feels strange to have no position. It can feel like we aren’t working or that we don’t have a view on the markets.
My Guru said if you didn’t have a strong view on any market, then stay out of market. Money Saved is money earned. When there was nothing to do, he did nothing. He would say “It’s..

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When You fail as a trader

Failure is part and parcel of trading but till a certain limit. At first if you don't succeed, try, try again. And when you fail as a trader repeatedly fail and bust your trading account, is it's wise to continue trading ?
Long ago psychologists mapped out something called the inverted U theory of stress and performance. The impact of stress depends on the difficulty of the task you are trying to perform. If a task is relatively easy, a little bit of stressful arousal can enhance performance. But if the task is difficult, even a little bit of stressful arousal can impede performance.
When a task is difficult like trading , High stress can lead to frustration, anger, or despair.Think about the time you lost 20% of your capital in single trade. You were in Stress to recover the lost amount and get back your trading account to breakeven. This additional stress further deitroates your performance as you indulge in High Risk trade and eventually increase your loss.

Trading is hard. It requires lots of ...

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ITC,Sun Pharma and Federal Bank Technical Analysis

ITC

ITC is near a crucial trendline crossover which can lead to an explosive upmove and downmove. Any close above 343 gives short term target of 356 and 364.
Intraday Traders can use the below mentioned levels

Buy above 341 Tgt ..

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Nifty Trading Strategy after better than expected IIP and Inflation data.

• FIIs sold 12341 contracts of Index Future (Bought 5507 long contract and  17848 shorts were added) worth 344 cores with net Open Interest increasing by 23355 contracts. SO FII's again added shorts in Index Futures.Yesterday we have cautioned readers about FII adding shorts today we got the trailer.

Nifty corrected after rally for 5 day but was again able to protect its 200 DMA. IIP grows 2.6 per cent in July after two months of contraction and Inflation also cooled of to 9.52%...

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What Kind of Trader you are ?

Subjective: Based on or influenced by personal feelings, tastes, or opinions.Proceeding from or taking place in a person’s mind rather than the external world.
Subjective traders they are intertwined with their trades.Their signals are generally entering out of greed and exiting based on their own internal fear. The believe in their opinions more than the actually price action. They base trades off of whether they are feeling good or bad about a particular trade. A subjective trade comes out..

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Trading Calls:RIL,BPCL and Canara Bank

Reliance Industries

Reliance Industries is forming a triangle pattern and multiple tops in range of 892-893. Positional traders should look for a close above 898 for short term target of 932.
Intraday Traders can use the below mentioned levels

Buy above 898 Tgt..

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Nifty holds 200 DMA rallies for 5 day,FII data analysis

• FIIs sold 9462 contracts of Index Future (Bought 6167 long contract and  15629 shorts were added) worth 272 cores with net Open Interest increasing by 21796 contracts. SO FII's have slowly adding shorts in Index Futures.

Nifty continued with its rally for 5 day in row, closed above the psychological level of 5900. Traders holding..

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Why Rupee and Sensex are rallying?

SENSEX and  Indian rupee has witnessed a dramatic turnaround since Wednesday, when Raghuram Rajan took over as the new governor of the Reserve Bank. Sensex yesterday closed above the psychological level of 20000, Nifty rallied 555 points in 4 days and Indian Rupee retraced back to 64 from life lows of 69 again of almost 6% Investors gained over Rs 5 lakh crore market wealth in past four trading days. Total market capitalization of actively traded stocks on BSE has increased by Rs 5.03-lakh crore to Rs 6,446,263 crore.

• Rajan's announcements have helped sentiments: His appointment has sparked badly-needed optimism among investors, analysts say. Rajan has given the confidence booster to market. Sometime just a sentence from central banker can do wonder and instill confidence in the market. Also on Technical ground we covered the following analysis   Has Indian Rupee made Short term Top, Weekly Analysis

RBI governor announced measures such as liberalization of the financial market by enhancing the limits for exporters to re-book cancelled forward exchange contracts and opening a special concessional window for..

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Trading Calls:Axis Bank,DLF and Raymonds

Axis Bank

Axis Bank was unable to cross its falling trendline, Banks have rallied the most in recent upmove but yesterday most of banks including axis have underperformed the nifty,suggesting selling at higher levels. Some pullback rally is on cards to fill the last gap 952-977. Positional traders can short axis below 987 for short term target of 953 and 932. Any close above 1008 will give short term target of 1076.
Intraday Traders can use the below mentioned levels

Buy above 1000 Tgt..

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Nifty and Sensex rallies highest in 4 years, FII' data analysis

FIIs bought 101860 contracts(Highest ever in single day) of Index Future (Bought 87098 long contract and  14762 shorts were liquidated) worth 2957 cores with net Open Interest increasing by 72336 contracts.The spectacular rally we saw today many reasons can be given the most important reason was FII have covered there most of shorts on Friday session as discussed yesterday and analyzing my data sheet most of these shorts were covered in loss, Now FII's have money..

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Why Self Control and Discipline in trading are important ?

Nifty did a one way ride in past 2 weeks from low of 5119 till today's high of 5900. One of the most spectacular rally of 800 points in small time frame. These kinds of rallies have been coming and will be coming for next many many years. But important thing is were you part of this rally,If yes were you on right side ie. Long side.
Most of traders missed the rally or were shorting the whole rally Very few traders were able to milk this rally. What different they have done.

They had Self Control and Discipline over them.

Cultivating discipline and self-control is vital for..

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Stocks for Intraday Traders:TCS,Rel Infra and Century

TCS

TCS is holding the support of its fibo fans as shown in above chart. Any close below 1974 will lead to further downfall till 1880, 1830 odd levels in short term.
Intraday Traders can use the below mentioned levels

Buy above 2000 Tgt..

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FII FnO data analysis for 10 Sep trade in NF and BNF.

• FIIs bought 37866 contracts of Index Future (Bought 24525 long contract and  13341 shorts were liquidated) worth 778 cores with net Open Interest increasing by 11184 contracts.So FII  have covered  81K contract of NF and BNF shorts in past 3 trading sessions and added 25.6K contract of fresh longs in NF and BNF suggesting short covering done and now follow up buying await to push index higher.

• Nifty is approaching its crucial 50 DMA@5705 tomorrow, Any close above it will propel nifty further towards 200 DMA as discussed in weekly analysis.

Nifty Future Sep Open Interest Volume..

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Nifty Futures and Bank Nifty Futures Positional Trading Strategy

Trend Changer is a positional strategy for trading in Nifty Futures, Bank Nifty Futures and Stock Futures.Trend Changer Level as its name indicates  is a pivotal number which reflects the balance of power within Nifty and Bank Nifty Futures. Its a number where Bulls and Bears are Neutralized.Once either of them are able to go beyond the Trend  Changer number decisively, big gains are made as seen in 04 Sep when Nifty Trend Changer level was 5430 and Nifty has been rallying hard closed at 5706 and as we write SGX is trading at 5769, gain of 340 points in 3 trading days.
But there are many occasions, a keen tussle develops at such a point to wrest back the control as was evident on 04th sept. When Bank Nifty Trend Changer level was 8982 and on 05 Sep it open at 9225 loss of 244 Points.

Where can a trade get Trend Change Level?

Trend Changer level is published everyday on..

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Nifty Weekly Trading Outlook for Sep 10-14 Sep

Indian market rejoiced the appointment of the new RBI governor and his optimistic road plan, as Nifty rallied almost 372 points from Sep low of 5316 and Bank Nifty 1384 points and Rupee rallied more than 5%.
Also Next  weak  American government will decide to strike on SYRIA as there will be a final VOTE in the parliament for the go ahead for the attack. So keep a watch on the event which can lead to rally in Crude which will be negative for Indian Markets.
Indian markets will be closed on Monday on the auspicious eve of Ganesh Chaturthi
Last week we gave Trend Deciding level as 5508 Nifty  Nifty achieved 2 target on downside and 2 target missed by 20 points  :) Nifty Opened gap up above Weekly trend deciding level at 5553 and achieved 2 buy targets though only aggressive traders would have taken position on Buy sides.Lets analyze how to trade Nifty next week.

 Nifty Hourly Chart

Nifty Hourly charts as shown above is facing both upward rising trend line and 50 DMA...

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Bank Nifty rides on Raghuram Rajan, Weekly Analysis

Last Week we gave the Trend Deciding level as 9066 and Bank Nifty achieved 2 target on downside and did all target on upside but with a gap up which was not tradeable :)  .Lets analyze how to trade Bank Nifty in coming week.

Bank Nifty Hourly

Bank Nifty on hourly chart is finding resistance at 50 HSMA, and also downward falling trend-line Close above the 50 HSMA@..

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Trading Lesson Learnt From my Trading Guru

The day I started trading I hoped to make lot of money, and ultimate goal of every trader is to trade for a living. My Guru asked me how you are going to make "a lot of money", I said some blah blah but Honestly speaking I did not had any concrete answer.  Somewhere in the back of my mind I secretly hoped I will catch the one big move that will make me enough money to trade like Big boys. Unfortunately the odds of catching the "big one" are probably the same as those for winning the lottery.
I hope many traders who are trading or willing to start trading will be facing with the same dilemma and confusion so today am sharing few fundas i got from my trading guru. Use them and see the change in your trading.

Have a realistic trading goal

First and foremost thing my Guru told me  "I should have a trading goal". The goal did not have to be a large one like being a millionaire in 1 year, Trading goal should be simple and realistic. Having a trading goal would help me focus better on the markets. I would come to see better opportunities (note this is not the same as “more opportunities”) as well as managing my money better. Since I did not have a very large trading account at that point of time ,My Guru suggested ..

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What is required for Trade for a living?

Everyone wants to know how much money they can earn if they learn to trade. Can they fulfill their financial goals and make trading for a living.
Trading as a Business offer flexibility in schedule, working from any part of world, there would be no hassles with customers or employees and low overhead expenses ie. a Laptop with charting software having live feeds.
Most of traders  want to know  whether or not it was possible for them to achieve their financial and personal goal through trading. I have been asked the same type of question many times and this question is always on the mind of many new and starting traders.
The question broadly stated is: Can we trade for a Living ?
The truth is that no one can predict or answer this question accurately or correctly for any new trader. Unfortunately, many misleading book titles, software vendors and unscrupulous trading educators market their services and products creating unrealistic expectations and making false claims.

No Guarantees in Trading..

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How to Develop Winning Mindset in trading

Self-Confidence is one of the most important quality required by human being in any business venture.
Professor Raj Persaud posits that true self-confidence comes from an attitude where you:
Promise yourself, no matter how difficult the problem life throws at you, that you will try as hard as you can to help yourself. You acknowledge that sometimes your efforts to help yourself may not result in success, as often being properly rewarded is not in your control.
The above statement is especially true if your business is trading , since psychology plays such a major role.
Let me share  few things that helped me change and improve my mindset as a  trader, develop a winning mindset and trade with more confidence.
Here are three things you need to have to be a profitable trader.
Trader must a deep rooted..

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Pattern Trading:BHEL,United Spirits and Federal Bank

BHEL

BHEL is forming an triangle formation signalling an explosive move round the corner. Positional traders can buy above 131 for target of 138 and 144. Failure to close above 131 will take stock back to 123 odd levels.
Intraday Traders can use the below mentioned levels

Buy above 128.5  Tgt..

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Nifty rallies retracing 50% of yesterday fall,Will rally continue?

• FIIs sold 68508 contracts of Index Future (Sold 2234 long contract and  26498 fresh shorts were liquidated) worth 648 cores with net Open Interest decreasing by 28732 contracts.So FII shorted 50K contract yesterday has exited 26K contract in today's rise and are still holding the remaining 23K contracts.So net to net basis are still short in market.

Last 2 trading days have been a roller coaster ride for traders.Nifty has retraced almost 50% of yesterdays fall but close was below 5477 previous resistance. 5482 is Golden..

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How tro Deal With Fear inTrading

When you first learnt about the potential of trading, hearing lot of  rags to rich story, a normal person do get tempted and  probably venture towards trading.
But then, just before you started  trading, you heard stories of traders losing fortune and the Stock Market Scams of Harshad Mehtha, Ketan Parek and Satyam Scam . You probably heard of the large percentage of loss-makers and than fear sets in should we trade or not. Are market manipulated by the FII"s and Operators.
If you eventually managed to overcome that initial fear and traded, then you probably have to battle other fears each and every day. A common scenario is where you enter a trade on the prediction that it will go in a particular direction.
For example You took a trade in morning its making money for you as per your trading plan.After 1 hour trade achieves your intital target but it keep going up and up as per your plan.Then halfway into the trade, it starts losing. All of a sudden, your 10K gain of a few minutes ago has been reduced by 3K and sliding further downward.
If you give in to fear at this point, you will exit the trade to save the gains you had already made. Then a few minutes after you exit the trade, imagine seeing the gains returning and the trade closing just as you had initially predicted it would with 20K gain. Now that is how fear can ruin your trading and drain you psychologically.
There are various ways you can deal with fear and be a successful trader. Let me discuss few of them

1. Over Analysis of Trade.

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Stock Trading:Axis Bank,Lupin and Indusind Bank

Axis Bank

Axis Bank is trading near its medium term support of 772 as shown in above weekly chart.Any close below 754 gives short term target of 700.
Intraday Traders can use the below mentioned levels

Buy above 792 Tgt..

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How to trade Nifty and Bank Nifty after todays crash

• FIIs sold 68508 contracts of Index Future (Sold 17545 long contract and  50963 fresh shorts were added) worth 1850 cores with net Open Interest increasing by 33418 contracts. So news like S&P downgrading India and Attack over Syria added fuel to the fire and lead to panic selling by Retailers and FII also shorted big time.

Nifty finally added its 4 day pullback rally today after falling below 5556 and what we discussed yesterday nifty oblized us :)  Today volumes were quiet less as most of FII's are on holiday. We need a confirmation with a close above 5556 for the current pullback rally to continue, failure to do so we can see a pullback back till..

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Secrets of Highly Profitable Traders Part-II

In Continuation of previous Article Secrets of Highly Profitable Traders Part-1
1. Passion and Fire to Keep going

The most successful traders are passionate about what they do. They love trading however taxing it might become and they are ready to put lot of hard work.With such a trader, you will find that the trader enjoys the trading and the profits are only secondary.Once you attain such a passion for trading Stock/Currency and Commodity market, you will find that your trades end in profits almost automatically without much thought or effort.
2. Holding them responsible of whatever be end result

Most failures tend to blame everything and everyone else for their shortcomings.Profitable Traders always take responsibility for their actions and make them responsible...

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JP Associate, Yes Bank and PFC Technical Analysis

JP Associate

JP Associate is approaching its short term upper trend line and trading in perfect rising channel. Any close above 37 gives positonal target of 39 42 and 47 in short term. Failure to close above 37 will see the stock falling back to 34 and 31 odd levels.
Intraday Traders can use the below mentioned levels

Buy above 36.6 Tgt..

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Nifty Technical outlook for 03 Sep

• FIIs sold 1065 contracts of Index Future (Entered long in fresh 1519 Contracts and  2584 fresh shorts were added) worth 18 cores with net Open Interest increasing by 4103 contracts. Today's rise also FII are entering shorts at higher levels but only in small quantity.

Nifty has taken support at last fibo fan support as discussed and continued with its pullback. Nifty has been finally to trade and close above its resistance of 5477 and 5511 in..

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Has Indian Rupee made Short term Top, Weekly Analysis

USD INR Hourly

USD INR Hourly charts have pulled back from Fibo Channel and heading towards the support of 65. Holding the same bounce back can be expected. towards recent high again where it might form a double top and start its bearish journey.

USD INR Daily

USD INR chart  As par Gann..

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Stock Technical Analysis:Ranbaxy,Bajaj Auto and HUL

Ranbaxy

Ranbaxy is taking resistance at upper end of fibo fan Bullish only above 432 for tgt of 466 in short term,Close below 410 will be bearish giving short term target of 377.

Buy above 410 Tgt..

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Bank Nifty Weekly Outlook for 2-6 Sep trading

Last Week we gave the Trend Deciding level as 9456 and Bank Nifty achieved all target on downside Cool 650 points on downside.Lets analyze how to trade Bank Nifty in coming week.

Bank Nifty Hourly

Bank Nifty on hourly chart is finding resistance at 50 HSMA,Close above the 50 HSMA@ 9066 on hourly basis will add more bullishness in Bank Nifty.

Bank Nifty Daily

Bank Nifty is trading in a perfect down..

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Nifty Weekly Outlook for 2-6 Sep trading

Last Week was the most volatile week in recent trading history with Nifty swinging wildly in range of 750 points and ending the week on flat note. Nifty was falling Against the backdrop of a falling rupee, FII selling and the passage of food security bill in the Parliament accentuated the selling pressure.
GDP growth dived to a four-year low of 4.4 per cent in the April-June quarter of 2013-14, against 4.8 per cent in the fourth quarter of the previous financial year.  INR touched an all-time low of Rs68.75 to the dollar and Petrol and Diesel prices raised from today.
US markets will be closed on Monday for the Labor Day holiday
Last week we gave Trend Deciding level as 5508 Nifty  Nifty achieved all 3 target on downside :).Lets analyze how to trade Nifty in Expiry Week.

 Nifty Hourly Chart

Nifty Hourly charts is trading in perfect..

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