Turns out to be another false break out.
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At 11.30AM: A false break out..Holding morning low of 5079, if it can move past 5098, a break out is possible.
Weak Asia is a dampener.
On the verge of a "Break-out"..??
25 comments:
tala vanakam
Hi ilango,
Good Morning brother !!
Hi Hemanta,
Good Morning !!
hi..Dinesh,
GM to you..
Hi, Dinesh,
Good after noon to U & ALL.
Aggressive traders can go short now (or below 5078) with 5111 SL.
Hi Hemanta for aggressive shorts what price to book profits?
Hi, jay shah;
Strategy for aggressive traders:
Always book profit with parts,if ur stoploss 20/25 pt target also small 10-20-30-50 pts and so on. If trades go with ur favour then change ur stoploss accordingly, such that chances of winning increases.
If u trade with 2 lot nifty50 for positional trade(100units) aggressive trader must trade with 5 lots of mininifty (20units each) total unit same 100. That increases the chance of part booking and the CHANCE OF WINNING MATHEMATICALLY of total turnover (100unit).
Happy Trading.
thanks hemanta
Mathematical explanation of chance of winning with part booking:
1. Total brokerage less Rs50 per lot nifty 50, many brokers offer even less than that like Rs30 per lot. so ur brokerage is less than 1 nifty point per unit.
2. suppose u shorted @5085 with sl 5111 with 5 lot(100unit) mininifty.
3. Booked profit 4 lot (80unit) +60pt - 4pt brokerage =+56pt.
4. Now for rest 1 lot(20units) ur sl is 26pt. U can go with it rest of the day with trigger SL. U r already a winner with +30pt (evern SL triggered for last 1 lot).
5. If ur trading capital is high use 5 lot of nifty 50(or in multiples) instead of 5 lots mininifty, the strategy is same.
That is my current trade also.
HAPPY TRADING.
Money Management is more important than TA:-
Many traders in Dalal Street don't know about TA(even they r computer illiterate). But still they are living for trading with proper money management.
We r blessed that most of us has the computer facility to learn & use TA, we have a guide like Ilango.
But, only proper money management(comes from experience) with TA can emerge a successful trader like Jesse Livermore.
Happy Trading with beloved Ilango.
fallen off the cliff...now for dip buyers to emerge
Hi shaq,
There is a proverb:
"The bull climbs up the stairs while the bear jumps out the window.”
:-Robert Kiyosaki
U don't see any bear!! :-)
very true hemanth...these minor drops wont help for bear case...every minor dip has been bought which is typical of some bull run...lets see if this time the bears have some conviction...
FREE FALL
Dear Sir,
Where this fall will stop????????/
As you said this was really very surprising rally.!!!!!
this was expected from a long time.
looks like we take support around 4980...US closed today...and most of tom...hope this is the long waited c wave
Seems to be like a minor correction due to F&O Expiry. But has broken the lower Pivot for today.
when everyone is just and just bullish and market is reluctant to go up,it means few smart people are selling,they might be small in quantity but they might be selling in a huge quantity because it is possible that they might have pulled the market up to current level.They must book profits.After all this is greater fool game.
Yes, this fall was very much expected today.
Bcoz todays pivot=prev day closing=5108=very strong resistance and nifty never able to cross it from start. Agin today is expiry day, so big volatile day. So there is only one direction for nifty go down and down.. and in this process bears overpowerd bulls completely.
Simple thinking can give us lots of profit!
HAPPY TRADING.
Hopefully we can get 30-40 bounce from here.
Hi, mynac U r 100% right,
Today few smart people are selling,they might be small in quantity but they might be selling in a huge quantity, thats FII &DII. They are always waiting for the chance when all odds r in their fevour: like today & and they always book their profit as early as possible.
HAPPY TRADING.
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