How to Deal with Negative Emotions when Day Trading

In day trading, the big emotions can take over and mess up your strategy and your returns. The enemies are doubt, fear, and greed; like any bullies, they have their toadies, including anger, anxiety, boredom, and depression.

• Doubt: Day traders have to act fast to place their buy and sell orders. There isn't time to second-guess the decisions. That’s why traders need to stick to their plans, which isn’t always easy.
  Backtesting can help build confidence in a plan, and the use of automated trading tools can help overcome the tendency to hesitate before clicking on the mouse button.
• Fear: Fear is one of the worst emotional enemies of the day trader. Instead of trying to make money, the fearful trader tries hard not to lose it. He is so afraid of failing that he limits himself, doesn’t take appropriate risk, and questions his trading system so much that he no longer follows it, no matter how well it worked in the past.
  One way to limit fear is to have a plan for the trading business. Before you start trading, take some time — maybe half a day — to sit down and

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RCOM,CESC and Tata Steel Pyrapoint Analysis

RCOM

Intraday Traders can use the below mentioned levels

Buy above 62.2 Tgt..

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Nifty April Expiry Analysis, Trading Strategy for 30 April

• FII's sold 9 K contract of Index Future worth 197 cores,34.3 K Long contract were added by  FII's and 43.3 K  short contracts  were added by FII's. Net Open Interest increased  by 77.7 K contract.Losing in Trading? Stick to a Trading Plan & Study Your Mistakes

 Nifty formed an inside day pattern today trading well between yesterday High and low , but closing below 200 DMA and taking suspense of next big move on expiry day. Bulls have in favor nifty on daily chart took support at median line of Andrew Pitchfork also unable to make lower low, Also took support near 270 degree  line of Pyrapoint line, As per Gunner also took support near the green channel as shown in below charts, suggesting the selling

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Losing in Trading? Stick to a Trading Plan & Study Your Mistakes

Traders lose money in stock market for many reasons. They may not have the right methodology to trade with. They may not have clear understanding of how the market works, key indicators, key numbers, and ideal times to trade. Risking too much per trade and not being mentally prepared for the ball game.
Whether it’s the result of unexpected market events or simply a poor trade idea, losing money invariably leaves one with a miserable feeling. Worst still if it is happening over and over again- a trader also feels loss of confidence and right attitude.
In my tenure as a trading coach and guide I have come across and observed many traders who consider putting in real money even when they are losing with their paper trades. I don’t think anything can be worst than that. But then there is little you can do as a coach when someone has lost the sense of direction.
Some of the most common consequences of losing in  could be that the trader gets into frenzy and makes haphazard trades without a pre-plan and as a result losing even more, or the second outcome could be that he may be so scared of incurring any more losses that he starts to avoid trading.
Real traders are those who don’t lose

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Should Stocks Fear Rate Hikes ?

While day after day we are bombarded with musings from talking-heads proclaiming that no matter what happens in the future, buying stocks and buying more stocks is the way to go, the data has a different story to tell. As Goldman Sachs notes, at a forward PE of 17.5x, the equity market looks more expensive today than it was during any of the last four cycles. Furthermore, as Goldman puts it, we find it more challenging to rationalize the current high PE multiples.
Via Goldman Sachs,
The PE ratio for the S&P 500 based on a 4-quarter trailing sum of earnings currently stands at 18.1x. This compares to values of 13.6x, 16.1x, 29.0x and 19.1x at the start of the last four hiking cycles, respectively. When the PE ratio is based on an estimated 4-quarter forward sum – which is the valuation metric preferred by our equity strategists – equities look even more expensive. At a forward PE of 17.5x, the equity market looks more expensive today than it was during any of the last four cycles except for hikes than began during the tech bubble of the late 1990s.

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SKS Micro,ACC,HDFC Bank Intraday trading levels

SKS MICRO

Intraday Traders can use the below mentioned levels

Buy above 462 Tgt..

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Nifty takes support at gunner arc,FII FnO Data Analysis

• FII's sold 22.2 K contract of Index Future worth 408 cores,7.3 K Long contract were squared off   by  FII's and 14.9 K  short contracts  were added by FII's. Net Open Interest increased  by 7.6 K contract.Motivational Video for Traders :Bamboo Lesson

 Nifty again formed a lower low @8185 and failed to form higher high. Nifty has corrected 660 points in this correction and took support @  green arc of Gunner and rallied

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Nifty breaks 200 DMA, FII FnO Data Analysis

• FII's sold 19.1 K contract of Index Future worth 420 cores,12.1 K Long contract were squared off   by  FII's and 7 K  short contracts  were added by FII's. Net Open Interest decreased  by 12.6 K contract.Motivational Video for Traders :Bamboo Lesson

 Nifty again formed a lower low @8202  and broke its last swing low of 8269 and 200 DMA. Biggest Problem with our market is World Markets are trading at life highs but Indian market are trading at 1 Month low suggesting their is some intrinsic problem with Indian market showing so much under performance. Finally  Murry Math Line also broke on downside as Nifty corrected 652..

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Hindalco,HDFC and Maruti swing trading analysis

Hindalco

Holding 131 stock can bounce to 136/139,
Intraday Traders can use the below mentioned levels

Buy above 132.4 Tgt..

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Bank Nifty Weekly Analysis for 27-30 April

Last week we gave the Chopad level of 18496 Bank Nifty achieved 3 target on downside   and got stopped out on upside .Lets analyze how to trade next week.

 Bank Nifty Hourly

Bank Nifty on hourly charts is entering the demand zone where it got bounced before also,17800 if held can see 300-400 point bounce in bank nifty.

Bank Nifty Hourly  EW Daily

Hourly Elliot wave analysis is shown..

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Nifty near break or make level, Weekly Analysis

Last week we gave Chopad Levels  of 8596 , Nifty did 3 target on downside and rewarded Chopad followers.  Lets analyze how to trade market in coming expiry week.

Nifty Hourly Chart

Nifty Hourly charts has broken on downside and below  it..

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Nifty near Murry Line Support, FII FnO Analysis

• FII's sold 26.9 K contract of Index Future worth 530 cores,19.8 K Long contract were squared off   by  FII's and 7.1 K  short contracts  were added by FII's. Net Open Interest decreased  by 12.6 K contract.Why FII's are worried about Minimum Alternative Tax (MAT)

 Nifty again formed a lower low @8273 which was near to last swing low of 8269 and also near its 200 DMA. Biggest Problem with our market is World Markets are trading at life highs but Indian market are trading at 1 Month low suggesting their is some intrinsic problem with Indian market showing so much under performance. Also we have taken 3 times support near the Murry Math Line so if 4 time 8269 gets broken which can see move..

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Why FII's are worried about Minimum Alternative Tax (MAT)

A key reason for recent market correction is the issue about Minimum Alternative Tax (MAT), which has worried foreign investors for some time now. FIIs are one of the biggest players in the Indian market. So, their stock trading affects the overall market directly. Worries about the MAT issue, however, have limited FII participation in the markets and have selling heavily in cash market  in the recent past, leading to the consistent fall.

Let me understand MAT and its implication

• What is MAT?

Minimum Alternative Tax is an addition to the Income Tax, levied by tax authorities. It was introduced in 1997-98 to prevent companies from using loopholes and exemptions in the Income Tax Act to avoid paying tax. So, MAT acts as a threshold tax rate. Every company has to pay tax at this rate of 18% even if its effective tax rate is lower. However, there has been confusion over whether MAT is applicable for capital gains by foreign investors in the Indian markets.

• Latest Policy:

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Types Of Stop Losses:How to use Percentage Stop Loss in trading

Let’s face it. The market will always do what it wants to do, and move the way it wants to move. Every day is a new challenge, and almost anything from global,local  politics, major economic events, to central bank rumors can turn financial market one way or another.
This means that each and every one of us will eventually take a position on the wrong side of a market move.
Being in a losing position is inevitable, but we can control what we do when we’re caught in that situation. You can either cut your loss quickly or you can ride it in hopes of the market moving back in your favor.

Of course, that one time it doesn’t turn your way could blow out your account and end your budding trading career in a flash.

The saying, “Live to trade another day!” should be the motto of every trader because the longer you can survive, the more you can learn, gain experience, and increase your

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Be Flexible and Develop Mental Edge to Win in Trading

Flexibility for the trader  to move with price action is the key to successful trading. You can be rigid with your rules and risk management but you must be flexible when it comes to how the future plays out in price action for any market or stock. It is not those that predict the future that make a lot of money in trading but those that react to what is actually happening that are able to profit from price action.

1. The ability to change your mind and reverse your trade in the other direction when proven wrong  is a powerful trait.
2. The ability to admit you are wrong and take your stop loss can save your account.
3. Put your ego aside and look at what is happening not what you believe should happen.
4. Trade price

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Will Infy decide the next move,FII FnO Data Analysis

• FII's sold 28.9 K contract of Index Future worth 585 cores,23.9 K Long contract were squared off   by  FII's and 4.9 K  short contracts  were added by FII's. Net Open Interest decreased  by 19 K contract.Conquer the Four Fears to be Profitable trader Part-III

 Nifty after  falling 560 points in 6 trading finally stopped making lower lows and formed higher high. We had a volatile session today with nifty swinging wildly. Infosys results tomorrow between 12-1 PM will see market swinging wildly. Nifty is holding on to 225 degree gunner line suggesting demand at lower levels,Weekly closing tomorrow bulls will want to close above 8450

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Colgate

Intraday Traders can use the below mentioned levels

Buy above 2019 Tgt..

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Conquer the Four Fears to be Profitable trader Part-III

In Continuation with Previous Post
4. Fear of Not Being Right
Too many traders care too much about being proven right in their analysis on each trade, as opposed to looking at trading as a probability game in which they will be both right and wrong on individual trades. In other words, their overall method will create positive results.
The desire to focus on being right instead of making money is a function of the individual's ego, and to be successful you must trade without ego at all costs. Ego leads to equating the trader's net worth with his self-worth, which results in the desire to take winners too quickly and sit on losers in often-misguided hopes of exiting at a breakeven.
Trading results are often a mirror for where you are in your life. If you feel any sort of conflict internally with making money or feel the need to be perfect in everything you do, you will experience cognitive dissonance as you trade. This means that your brain will be insisting that you cannot exit a trade at a loss because it ruins your self-image of perfection. Or if you grew up and feel guilty about having money, your mind and ego will find a way to give up gains and take losses in the markets. The ego's need to protect its version of the self must be let go in order to rid ourselves of the potential for self-sabotage.
If you have a perfectionist mentality when trading, you are really setting yourself up for failure, because it is a given that you will experience losses along the way in trading. Again, you have to think of trading as a probability game. You can't be a perfectionist and expect to be a great trader. If you cannot take a loss when it is small because of the need to be perfect, then the loss will often times grow to a much larger loss, causing further pain for the perfectionist. The objective should be excellence in trading, not perfection.


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Infosys,IDFC and ZEE Gunner Forecast

Infy

Intraday Traders can use the below mentioned levels

Buy above 2141 Tgt..

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Nifty bounces from 200 DMA,FII FnO Data Analysis

• FII's sold 1.3 K contract of Index Future worth 34 cores,5.6 K Long contract were added  by  FII's and 6.9 K  short contracts  were added by FII's. Net Open Interest increased  by 12.5 K contract.Motivation Story for Traders :Marvan Atapatu Inspiring Life Story

 Nifty continued forming lower low and closed below  its 20/50/100 SMA, falling 560 points in 6 trading .We saw a quick recovery in last 1 hour of trading after nifty formed a panic low of 8285 and saw a quick recovery also forming a hammer candlestick pattern. As discussed yesterday Gunner Analysis reached

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Motivation Story for Traders :Marvan Atapatu Inspiring Life Story

It’s a story that Harsha Bhogle, India’s most loved cricket commentator, loves to tell, over and over again. Making his debut in Test cricket for Sri Lanka, Marvan scored a duck in his first innings. And again, in his second innings.
They dropped him. So he went back to the nets for more practice. More first-class cricket. More runs. Waiting for that elusive call. And after twenty-one months, he got a second chance.
This time, he tried harder. His scores: 0 in the first innings, 1 in the second Dropped again, he went back to the grind. And scored tonnes of runs in first-class cricket. Runs that seemed inadequate to erase the painful memories of the Test failures. Well, seventeen months later, opportunity knocked yet again. Marvan got to bat in both innings of the Test. His scores: 0 and 0. Phew!
Back to the grind. Would the selectors ever give him another chance? They said he lacked big-match temperament. His technique wasn’t good enough at the highest level.

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Reliance,HUL and GAIL Murray Maths Line forecast

Reliance

Intraday Traders can use the below mentioned levels

Buy above 882 Tg..

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Nifty does Gunner Target,FII FnO Data Analysis

• FII's bought 14.1 K contract of Index Future worth 318 cores,39 K Long contract were added  by  FII's and 24.9 K  short contracts  were added by FII's. Net Open Interest increased  by 64 K contract.Conquer the Four Fears to be Profitable trader Part-I

 Nifty continued forming lower low and closed below  its 20/50/100 SMA, falling 502 points in 5 trading . Gunner Analysis reached its target as shown in below chart, 8352 will play an important role going forward, if broken we can move towards 200 DMA and if held can see 150/200 points bounceback in nifty. As discussed yesterday Pyrapoint support at 225

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Conquer the Four Fears to be Profitable trader Part-II

In Continuation with Previous Post
2. Fear of Missing Out
Every trend always has its doubters, but I often notice that many skeptics of a trend will slowly become converts due to the fear of missing out on profits or the pain of losses in betting against that trend. The fear of missing out can also be characterized as greed of a sorts, for an investor is not acting based on some desire to own the security - other than the fact that it is going up without him on board. This fear is often fueled during runaway booms like the technology bubble of the late-1990s, as investors heard their friends talking about newfound riches. The fear of missing out came into play for those who wanted to experience the same type of euphoria.
When you think about it, this is a very dangerous situation, as at this stage investors tend essentially to say, "Get me in at any price - I must participate in this hot trend!? The effect of the fear of missing out is a blindness to any potential downside risk, as it seems clear to the investor that there can only be gains ahead from such a "promising" and "obviously beneficial" trend. But there's nothing obvious about it.

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Indian Cement,Sun Pharma and Kotak Bank technical analysis

Indian Cement

Holding 97 stock can bounceback to 102/110.
Intraday Traders can use the below mentioned levels

Buy above 99.7 Tgt..

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Nifty breaks 100 DMA,FII FnO Data Analysis

• FII's sold 60.8 K contract of Index Future worth 1338 cores,57.4 K Long contract were squared off  by  FII's and 3.4 K  short contracts  were added by FII's. Net Open Interest decreased  by 54 K contract.Conquer the Four Fears to be Profitable trader Part-I

 Nifty continued forming lower low but closed below  its 20/50/100 SMA, falling almost 422 points in 4 trading session also closing below the 1*2 angle per daily gunner. Pyrapoint support at 225..

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Conquer the Four Fears to be Profitable trader Part-I

Merriam-Webster's dictionary defines fear as "an unpleasant, often strong emotion caused by anticipation or awareness of danger, going on to explain that fear...implies anxiety and usually the loss of courage." This definition of fear is useful in helping define the issues that traders face when coping with fear. The reality is that all traders feel fear at some level, but the key is how we prepare to address our concerns related to taking on risk as a trader. In this article I will review four major fears experienced by traders, and I'll take it a step further by noting how the outcomes of these fears create undesirable trading behaviors. Basically, my aim is to have you walk away with an understanding of these dangers so you can and implement strategies that will address your fears and let you get on with your trading plan.
Mark Douglas, an expert in trading psychology, noted in his book, Trading in the Zone, that most investors believe they know what is going to happen next. This causes traders to put too much weight on the outcome of the current trade, while not assessing their performance as "a probability game" that they are playing over time. This manifests itself in investors getting too high and too low and causes them to react emotionally, with excessive fear or greed after a series of losses or wins. As the importance of an individual trade increases in the trader's mind, the fear level tends to increase as well. A trader becomes more hesitant and cautious, see

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Canara Bank, Hindalco and LT Harmonic Pattern Analysis

Canara Bank

Positional traders should look for close above 411 for short term target of 432.
Intraday Traders can use the below mentioned levels

Buy above 404 Tgt..

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Bank Nifty Weekly Analysis for 20-25 April

Last week we gave the Chopad level of 18816 Bank Nifty achieved 2 target on upside  and 1 target on downside .Lets analyze how to trade next week.

 Bank Nifty Hourly

Bank Nifty on hourly charts is entering the demand zone where it got bounced before also,18250 if held can see 300-400 point bounce in bank nifty.

Bank Nifty Hourly  EW Daily

Hourly Elliot wave analysis is


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Nifty Weekly Analysis for 20-25 April

Last week we gave Chopad Levels  of 8806 , Nifty did 3 target on downside  and got stopped out on upside.  Lets analyze how to trade market in coming week.

Nifty Hourly Chart

Nifty Hourly charts has broken on downside and below  its 21/34 EMA, till 8682/8690 is not broken trend remains on downside.

Nifty Hourly Elliot Wave Chart

8596  will play a vital role in coming week,

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Nifty breaks its 20 DMA,FII FnO Data Analysis

• FII's bought 23.3 K contract of Index Future worth 408 cores,23.1 K Long contract were added by  FII's and 216 short contracts  were squared off  by FII's. Net Open Interest increased  by 22.9 K contract.Holy Grail for Successful trading

•  Nifty continued forming lower low but closed below  its20/ 50 SMA, Nifty is now near a very crucial level as per daily gunner as last time also nifty took support in red arc. If broken we can see a downfall till 200 DMA. Holding the same we can see a sharp and swift rally towards 8854/8900. Also as per pyrapoint analysis support @180 degree@8525.
  

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Learn to trade the daily charts

I trade mainly off the daily charts, and I teach my students to do the same. If you want to have a realistic chance at making a living as a  trader, you need to master trading the daily charts before all else. This is one of the most important pieces of the puzzle of being able to trade for a living.
The daily chart gives us the best combination of accuracy and frequency of price action trading setups. Meaning, you will get a much clearer, accurate, and more relevant view of a market’s price action on the daily chart than you will on any time frame below it. The weekly and monthly charts also provide a good clear view of a market’s overall movement, but they do not provide enough trade setups to be practical enough for the short to mid-term retail  trader. The daily chart gives us enough trade-worthy setups each month to be able to make consistent money, while

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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 better to have no position than a dumb one”. By allowing himself to skip dumb that were driven by boredom frust

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Want to become Full Time Trader, Answer these Questions ? Part-II

In Continuation with Previous Article

4. People you surround yourself with

You might have heard, “You’re the Average of the 5 People You Hang Out with Most.” Friends have a way of influencing us.
I remember meeting a very nice couple during one of our vacations. We started talking and the husband was interested in trading. However, after over a year of studying, he had not pulled the trigger yet. He wanted to create some extra income, however he was afraid of losing. On top of that, his wife was saying, “We cannot afford to lose even one penny.” As a result, he had not pulled the trigger.
Who do you surround yourself with? Are they:

• Encouraging you in your trading business?
• Believing in you?
• Opening doors for you?
• Successful?

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Bharat Forge,SKS Micro and CIpla Daravas Box Analysis

Bharat Forge

Intraday Traders can use the below mentioned levels

Buy above 1303 Tgt..

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Nifty held on to its 50 SMA,FII FnO Data Analysis

• FII's sold 43.9 K contract of Index Future worth 1071 cores,3.4 K Long contract were squared off  FII's and 40.5 K short contracts  were added by FII's. Net Open Interest increased  by 37 K contract.Holy Grail for Successful trading

•  Nifty continued forming lower low but closed above its 50 SMA, Nifty took support at 135 degree line as per pyrapoint analysis also held on to its 200 HEMA.
  

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Want to become Full Time Trader, Answer these Questions ?

1. Knowing why you are in the trading

You can start by asking yourself:

• Why are you in the trading ?
• What was your initial attraction to trading?
• Are you thinking about it as a business or a hobby?
• Are you passionate about your trading?
• Does trading feel like a lot of work?
• What are your trading goals?
• Are you enjoying the journey or just focusing on the end result?
• What do you want to get out of trading?
  • Money
  • Excitement
  • Challenge
  • Power
  • Other things
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Auro Pharma,ONGC and IB Real Harmonic Pattern Analysis

Auro Pharama

Unable to close above 1364  stock is heading back to 1320/1275
Intraday Traders can use the below mentioned levels

Buy above 1366 Tgt

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Nifty forms Bearish Engulfing pattern,FII FnO Data Analysis

• FII's bought 34.8 K contract of Index Future worth 783 cores,35.2 K Long contract were added  by FII's and 483 short contracts  were added by FII's. Net Open Interest increased  by 35.7 K contract.Holy Grail for Successful trading

 Nifty after 9 days of rally formed first lower low @8722 also we corrected more than 122 points from highs. Todays fall came in last 30 mins and took most of participants by surprise. We were cautioning readers this is what we discussed yesterday As per Gunner 

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Holy Grail for Successful trading

Whenever I saw a Cricket  playing in the field  or Tennis player playing, the temptation to play like them was tremendous.If you see any Great Sportsman playing and compare yourself to them you will  observe You are lacking in co-ordination, stamina, technique, strategies and above all few tricks of the game that only comes from being exposed to the game regularly, sincerely and with full dedication.
When you come into trading arena, it is mesmerizing to watch the professionals execute trades effortlessly and seem to understand the market turns fairly well and getting a lot of admiration, adulation along the way.
You, in your enthusiasm and in earnest desire to duplicate their success, jump in to the world of "trading" just as you get tempted to play like Sachin Tendulkar and end result just as you cannot become Sachin without learning the tricks of the game in the similar manner you cannot become a Successful professional trader and will eventually lose your hard earned capital and will blame market to take

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Century Textile,Crompton Greaves and HDFC Bank Swing Trading Analysis

Crompton Greaves

Any close above 178 stock is heading towards 188/199.
Intraday Traders can use the below mentioned levels

Buy above 177 Tgt..

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Nifty Gunner Forecast for 15 April

• FII's sold 5.5 K contract of Index Future worth 165 cores,3.6 K Long contract were squared off  by FII's and 1.9 K short contracts  were added by FII's. Net Open Interest decreased  by 1.7 K contract.How to move from Unsuccessful trader to Profitable trader

 Nifty continued with its rally forming higher high and higher low pattern. Till 8762 is not broken trend remains up, As per Gunner charts on both Hourly and daily Nifty is heading towards the resistance zone of..

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How to move from Unsuccessful trader to Profitable trader

Most people enter trading with the idea that they are going to make a lot of money. In other words, they have high expectations. There is nothing inherently wrong with that idea. In fact, we need motivation, and making a lot of money can be a great a motivator. Unfortunately, many traders also have low self-confidence. And are not profitable or not trading at the level they desire or are capable of.

This is a fairly common condition that can be expressed in the simple equation:

High Expectations + Low Self-Confidence = Poor or Inconsistent Performance.

As a trading psychologist, part of my work with traders involves changing the equation

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Do You Stick to losing positions ?

From a psychological point of view nobody wants to sell at a loss as in most situations in life making mistakes and admitting them is associated with being a loser. That’s why most people prefer sticking to a losing position. They don’t want to be labeled a loser. So they start hoping their position will turn around and end up being a huge winner. The stock then keeps tanking. Then they hope they will be able to sell for a break even. The stock then goes down even more. That’s when being objective and balanced isn’t possible anymore. Losses have become huge and they are trapped.
The cost is simply huge. You lost money. You lost time. There’s an opportunity cost as well as during that time other stocks would have made you a profit. You lost huge amounts of energy as you couldn’t get this stock out of your mind.

Notice I’ve made ample use of the word..

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ACC,Bajaj Auto and Hindalco Gunner forecast

Bajaj Auto

Intraday Traders can use the below mentioned levels

Buy above 2111 Tgt

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Bank Nifty Weekly Analysis 13-17 April

Last week we gave the Chopad level of 18686 Bank Nifty achieved 1 target on upside  and 1 target on downside .Lets analyze how to trade next week.

 Bank Nifty Hourly

Bank Nifty on hourly charts  is forming triangle pattern suggesting breakout/breakdown. Till trading above 18707/18637 bias on bullish for target of 19000/19250.

Bank Nifty Hourly  EW Daily

Hourly Elliot wave analysis..

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Nifty Weekly Analysis 13-17 April

Last week we gave Chopad Levels  of 8627 , Nifty did 2 target on upside and missed 3 target by 19 points and got stopped out on downside. We have trading holiday in coming week, IIP data came good and CPI data will be coming on Monday. Lets analyze how to trade market in coming week.

 Nifty Hourly Chart

Nifty Hourly charts is trading in channel and above its 21/34 EMA, 8730 is 21 EMA should be watched on Monday .8650 is 200 HEMA will decide the market moves going further.

Nifty Hourly Elliot Wave Chart

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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 to start with a goal of netting 2500 per week out of the markets. So If I could do this consistently for four..

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Nifty ready for big move,FII FnO Data Analysis

• FII's sold 3.6 K contract of Index Future worth 214 cores,614 Long contract were added by FII's and 4.2 K short contracts  were added by FII's. Net Open Interest increased  by 4.9 K contract.Why Traders cannot stick to their trading Plan?

 Nifty continued with its rally forming higher high and higher low pattern. Till 8682 is not broken trend remains up,  .As per gunner Nifty took support at Green arc and is  now head to the gann line as shown by red line. Nifty is also near the 61.8% retracement at 8791 which should be watch out on Monday.  Current uptrend will get over when we  have correction of more than 107 point from the highs. Till than..

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Why Traders cannot stick to their trading Plan?

During my Initial days of trading My Guru  emphasized me  to the  stick to my trading plan in order to become profitable in the long run. Coming up with a trade plan is the easy part, sticking to it is easier said than done. During my Coaching Session most of students have confessed they cannot stick to their trading plan. Today we discuss few reasons why most traders find it difficult to stick to their trading plan.

Lack of Trust in the Plan

One of the major issue that some traders suffer is the lack of trust or belief in the trading plan. There is nothing binding you to follow the plan and there are times where you feel that the trade won’t “work” if you stick to the plan. As a result, you take trades on gut feeling, only taking certain setups and not taking ones that don’t “feel right”. For you, following your trading plan is merely an option.

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JSW Energy,Motherson Sumi and BPCL Harmonic pattern analysis

JSW Energy

Unable to close above 123 stock is heading back to 110.
Intraday Traders can use the below mentioned levels

Buy above 120.5 Tgt

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Nifty rallies for 7 days,FII FnO Data Analsysis

• FII's bought 7.8 K contract of Index Future worth 248 cores,4 K Long contract were added by FII's and 3.8 K short contracts  were squared off by FII's. Net Open Interest increased  by 123 contract. Satyam India's Enron : How the Scandal Unfolded

 Nifty continued with its rally forming higher high and higher low pattern.As discussed yesterday Till 8679 is not broken trend remains up, Low made today 8682 .As per gunner Nifty took support at Green arc and is  now head to the gann line as shown by red line. Nifty is also near the 61.8% retracement..

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Satyam India's Enron : How the Scandal Unfolded

Brief of Satyam Computer
On 24th June 1987, Satyam Computer was incorporated as private limited company for providing software development and consultancy services to large corporation. The company was promoted by B Rama Raju and B Ramalinga Raju.
In 1991, Satyam Computers became the first Indian company to provide offshore services. His first major client John Deere, was skeptical about outsourcing to Satyam, but Raju`s simple extensive management module convinced it.
What started as humble beginning in 1990`s by the end of the decade catapulted the Satyam Computer into the big league of IT companies in India. Satyam became the fourth largest IT Company.
‘Humpty Dumpty had a great fall’, Satyam computer image got severe hit that  can never be mended when its promoter accepted in writing to SEBI about the fudging of books of account of the company for showing inflated profit. Investor lost all out faith in the working of the company and dumped the share of the company. Satyam share price had a free fall on 07 Jan 2009 and it closed about 80% down from the previous day close price at Rs40. Chart shown below


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BHEL,Bank India and Apollo Tyre Gunner Forecast

BHEL

Holding 233 stock is heading to 238/241 and 246. Any close below 233 short term target 228/225/220.
Intraday Traders can use the below mentioned levels

Buy above 236.5 Tgt..

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FII FnO Data Analysis for 09 April

• FII's bought 55.4 K contract of Index Future worth 1173 cores,42.5 K Long contract were added by FII's and 12.9 K short contracts  were squared off by FII's. Net Open Interest decreased  by 29.6 K contract. 4 traits of Successful trader

 Nifty continued with its rally forming higher high and higher low pattern.Till 8679 is not broken trend remains up .As per gunner Nifty took support at Green arc and is  now head to the gann line as shown by red line.Expect a big move in next 2 days. So level of 8736 will act as important level going forward.  Tomorrow..

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4 traits of Successful trader

“Observation, experience, memory and mathematics – these are what the successful trader must depend on. He must not only observe but remember at all times what he has observed. He cannot bet on the unreasonable or the unexpected, however strong his personal convictions may be about man’s unreasonableness or however certain he may feel that the unexpected happens very frequently.
He must bet always on probabilities – that is, try to anticipate them. Years of practice at the game, of constant study, of always remembering

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TVS Motors,Auro Pharma and Sesa Sterlite gunner forecast

TVS MOTORS

Positional traders should watch for close above 256 for short term target of 267/288. Any close below 254 stock is heading to 246/241/238.
Intraday Traders can use the below mentioned levels

Buy above 256 Tgt..

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Nifty form hanging man, FII FnO Data Analysis

• FII's sold 2.8 K contract of Index Future worth 88 cores,7.4 K Long contract were added by FII's and 10.3 K short contracts  were added by FII's. Net Open Interest increased  by 17.8  K contract. Developing a Successful Trading Strategy

 Nifty continued with its rally after intraday dip 107 points and recovering in last hour of trade forming hanging man candlestick pattern.As per gunner Nifty took support at Green arc and is  now head to the gann line as shown by red line. So level of 8720 will act as important level going forward. As discussed yesterday Pyrapoint Analysis also suggests 135 degree line @8673/8693 range will be trend deciding level for RBI day.  High made today was 8693

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Developing a Successful Trading Strategy

Nifty did again the Unexpected Making everyone Bearish Today  after RBI policy Traders holding Bulk of Puts and Than came the U-turn and an awesome rise in 45 mins.
Traders who were short  need to cover at high price or might be still holding the shorts in a HOPE of nifty coming down.(Well it can but I am a system trader and System is in up mode)
100 % traders are bearish/bullish – how can market fall now or rise? ?
For every trade to take place there must be a buyer and a seller. Further, there must be agreement on price and volume.

You need to have a trading Strategy to earn money in Stock Market

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First Bi-monthly Monetary Policy Statement, 2015-16

Monetary and Liquidity Measures

On the basis of an assessment of the current and evolving macroeconomic situation,

it has been decided to:

• keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 7.5 per cent;

• keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liability (NDTL); and

• continue to provide liquidity under overnight repos at 0.25 per cent of bank-wise

 

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ICICI Bank,Axis Bank and BoB Pyrapoint Analysis

ICICI Bank

322 is trend changer level for ICICI Bank, closing above it stock is heading back to 333/343.
Intraday Traders can use the below mentioned levels

Buy above 322.1 Tgt..

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Nifty technical Setup before RBI meet

• FII's sold 28.7 K contract of Index Future worth 752 cores,18.1 K Long contract were squared off by FII's and 10.6 K short contracts  were added by FII's. Net Open Interest decreased  by 7.5  K contract. So You Want To Trade For A Living? 

 Nifty continued with its rally and is now near its 38.2 % retracement level as discussed in Nifty Weekly Analysis Also as per Gunner we are near the trend change point as seen in below chart. So next 2 days price action will suggests are we heading for higher levels or will see some pullback. Pyrapoint Analysis also suggests 135..

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So You Want To Trade For A Living?

New Financial Tear is starting , Have a look at your ledger of last Financial Tear and see were you able to make profit for the year. If yes Well and Good If no ask yourself the following questions:
1. Do I treat my trading like a business? Have I prepared for it the way I would for a business?
2. Do I have a trading plan—a working document (not a mental note) to guide my trading business?
3. Do I make mistakes regularly (a mistake means not following my rules)?
4. Am I following any corrective procedure to prevent mistakes?
5. Do I have a

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Adani,REC and Bata India technical analysis

Adani

Positional traders should watch for 610, closing above it stock is heading to 623/631 and 644.
Intraday Traders can use the below mentioned levels

Buy above 618 Tgt

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Bank Nifty Weekly Technical Analysis before RBI Policy

Last week we gave the Chopad level of 18036 Bank Nifty achieved 3 target on upside made low of 18809 and Chopad level was 18036.Lets analyze how to trade next week as we have RBI policy on Tuesday.

 Bank Nifty Hourly

Bank Nifty on hourly charts  entered in  Demand zones and reacted sharply on upside.Now resistance zone marked in above chart will become support.

Bank Nifty Hourly  EW Daily

Hourly Elliot wave analysis is shown..

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Nifty Weekly Technical Analysis

Last week we gave Chopad Levels  of 8335  , Nifty opened with a gap @8380 did all 3  target on upside and rallying 334 points from the low seen in last week. We have RBI policy scheduled on Tuesday so lets analyze how to trade in new financial year.

 Nifty Hourly Chart

Nifty Hourly charts is trading in channel and above its 21/34 EMA also forming an inverted flag and pole pattern on Hourly chart.8630 is 200 HEMA and should be watched, range of 8630-8666 watched before RBI policy.

 Nifty Hourly Elliot Wave Chart

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