Tuesday, May 5

FII FnO Data Analysis for 06 May

FII
  • FII's sold 44.3 K contract of Index Future worth 924 cores,43.9 K Long contract were squared off  by  FII's and 1.2 K  short contracts  were added by FII's. Net Open Interest decreased  by 41.8 K contract so rise was used by FII's to square off longs in Index Future.What Kind of Trader are You ?
 Nifty after yesterday rise did not show a follow up move, consolidated in range and formed a long legged DOJI, Gunner shows we are entering a new quadrant tomorrow  so impulsive move can be expected in next 2 trading session. Pyrapoint analysis also shown in below chart suggests as we are entering new..

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What Kind of Trader are You ?

 Discretionary Traders

  • Trade information flow.
  • Are trying to anticipate what the market will do.
  • Are subjective; they read their own opinions and past experiences into the current market action.
  • Trade what they want and have rules to govern their trading.
  • Are usually very emotional in their trading and taking their losses personally because their opinion was wrong and their ego is hurt.
  • Use many different indicators to trade at different times. Sometimes it may be macro economic indicators, chart patterns, or even macroeconomic news.

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LT,Sun Pharma and Bata India Harmonic Pattern Analysis

LT

LT

1631 is trend changer level, closing above it short term target 1652/1686/1741.
Intraday Traders can use the below mentioned levels

Buy above 1633 Tgt 

 

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Monday, May 4

Nifty bounces after 700 point fall, FII FnO Data Analysis

FII
 Nifty after 700 point decline, highest in the current bull market saw a counter trend move today,Nifty opened gap up and closed near day high which look more of short covering as net OI in NF was down, also cash buying by FII's is just 60 cores. As per Gunner pattern bounce occurred near the green arc and close above


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Trading is a Mindset, Not a Technical Set-Up

The biggest secret to trading is that you need to ruthlessly exploit a few simple trading strategies to become profitable rather than understand a lot of different trading setups. I plan on sharing both with you, but making money is your responsibility. It's important to keep the goal of making money firmly implanted in your mind. So, let me discuss my mentality.

I am hardly a perfect trader. I am far from that in fact. When I was new to the markets, my biggest fallback as a trader was that, like so many others, I wanted to find the Holy Grail, the "way to trade." After all, from kindergarten, we are conditioned to find the one and only answer; exclusive of all others. I wanted to discover this right way to trade. What's wrong with that? Aren't we trained to find the answer?


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