Monday, June 9, 2014

Nifty, in uncharted zone, makes more gains...(inching up)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty Pre-Market View.

FII's are net BUYing in BIG quantities for the last few days.
Prices, in the short term, have closed above all key averages. "Impulsive 3rd wave" seems to be underway after a flat correction (which foretells of bullish undertones);
the direction is now "UP" till prices continue to close above these key averages(21 or 34 hr smas).
Aggressively Holding above 7498, the last low, uptrend continues....
The strategy that has worked consistently well with low risk-high reward ratio is "Initiating a trade at 50%-61.8% retrace with 80% as SL". Adapt to it.
7534-46 & 7517 are two key supports today.
What are your regrets, looking back, as a trader?
And what are you doing about it?
Or You have no time to "look back"?
And if you have no regrets, you are on your way to Get Rich Slowly and Quietly..