Daily Nifty Newsletter for sep 10
The greatest victories in life rarely come from those who are sad, pessimistic or lacking enthusiasm.
When we approach challenges in any area with enthusiasm, we set a new foundation that starts us off on the right foot. This does not automatically happen. We all need to decide that we are going to start changing the way we begin our trading sessions.
Before we jump on our computer and look at our charts and start executing trades, take about 15 minutes to set the tone for this session. Take a few deep breaths, forget about the list of tasks that you have to deal with today, get a piece of paper and write down 1 or 2 items that you will focus on during today’s trades.
Once you have your mind set and your 2 items ready; say out loud “I am ready to trade”. Say this with enthusiasm and then sit down and begin.
You will have a new perspective on today which does not include focusing on the profit results, but instead on the process. Your trading session will have new meaning and you are now set to be triumphant in today’s trades.
Last Week ,We had Boldly that Crucial Support is at 5235 (Trendline Major Support ).On Thursday it kissed low of 5237 & taken U-turn !!
(We Boldly Told our Subscribers to Buy with stoploss of 5228-5202-5190 is Rockbottom )
(Our Targets were :5266—-5283–5289 ,Same Day it kissed 5285 )
On Friday ,We had Boldly mentioned ………..Will zoom to kiss 5349-5363 and 5363 is Last Hurdle
-On Friday it kisssssssssssssed 5362.75 & closed @ 5359 )
Yes ,U can Read……….level ….Above 5363 level (Forecased on Friday itself )
Last Close :5380
-Above 5363 ,No worry for We see Rally upto 5405 —-5419 level !!
-Yes ,5419 is LAXMAN REKHA …If able to cross and stays above this level for 15-20 minutes then…Watch Explosion upto 5439,5461,5475.
(101% Above levels are valid if trades or closes above 5419 level )
Support @ 5352—-5343 7DEMA @ 5325 level !!
Gap of 5285 …….will have to be Filled…….Just need Patience !!
-More Details ,Intraday levels to our Subscribers-
Trading Strategy for 28th August.
For most people, trend following is extremely counter-intuitive. Why? Because it’s human nature to look for bargains before buying. People tend to buy when it’s low and sell when it’s high. But, how many are bold enough to do the opposite by buying high and selling even higher? My guess is; not many. And what about risk management? Yeah, what about it? Remember the dot com bubble era? Out of all the people that got caught up in that frenzy, how many do you think even had a risk management plan in place? Hmmm…
Back in those days, I’ve never even heard of a stop loss. We all just jumped in blindly with dreams of making it big. And a lot of us got burned. Really bad. All the warning signs where there and yet we chose to ignore it. We foolishly rode our stocks all the way down and in the process, destroying every little glimmer of hope that we had for a turn-around. A lot of us lost 80-90% of our so-called “long term investment.” It’s tragic. But we can all learn from this valuable lesson.
-Yes ,Once u will click and see above link…..U will get more Confidence and will start beleiving in power of chart !
-Yes ,Not able to cross 5472 & it crashed to 5358 level in just 3 sessions !!
Yesterday again written below 5382 level it will slide to kiss 5355-5346 level ,Just see it kissed low of 5358 Short Term Support @ 5355—————-5346 !!
Break below 5346 with volumes and stays below this level for 15 minutes or more will take to 5320-5311 level.
Hurdle at 5384———–5391.Crossover above 5391 (Not BREAKING LOW of 5358 ) will take to 5410-5416.
Weekly Chart Indicates :5356—————-5329 are Support levels.
Break & Close below 5329 for 3 Consecutive days will take to 5249-5222 level.
(So ,Just have a eye on 5329 & 5472..If u are Real Trend Follower )
-More Details ,Intraday levels to our Subscribers.
Trading Strategy for August ’23
Traders should equate the general market to that of a big river with individuals stocks as floating logs. If ones objective was to ride in the general direction of the current, they would not stand on the bank looking for a log that was bucking that trend? Furthermore, even if they found one that temporarily headed in the wrong direction, more than likely it would only be a matter of time before the log reversed course and also headed in the way of all the other logs.
—Traders would be wise to understand there are 3 directions a market can travel; up, down or sideways. As long as we trade stocks, this will be true – and just as valuable as Livermore’s seasoned trading friend’s advice was then it would be today.
Markets, like rivers, don’t change courses overnight – or even in a few days. It often takes many months if not years to properly establish a trend. Simply pull back any weekly chart over the past couple years and assess where the trend is going. If you aren’t quite sure, then more than likely cash remains the place for you.
Understand this basic, yet key, principle of trading, and you will already be well ahead of most.
Just Click & Read this Post :
Yesterday ,We had written-Support was at 5399-5394.Made low of 5405.Hurdle was at 5458.It made high of 5454.75.
Last close :5431 Today,Just have a eye on 5458 – level.
-Decisive Crossover with volumes will take to 5472-5476 level.There after Spurt upto 5494 not ruled out.
Will Update more during trading hrs to our Subscribers.
Support @ 5421-3DEMA ,Break will take to 5402 7DEMA @ 5395 Level !!
Three Consecutive close above 5472+Weekly close if Happens then more Firework will start.