The Starving Trader!

[munde_77]

Today's view by Ashwani before market hours
The market is in a sideways consolidation mode and key level for the day is 5511 where resistance will come in and the next resistance will be at 5546, says Ashwani Gujral, technical analyst, on ET Now

Ashwani Gujral , Sudarshan Sukhani and Rajat are banned in CNBC after making huge loses to traders and invetors. Now they appear in ET to help others for making loses

 

[columbus]

Ashwani Gujral , Sudarshan Sukhani and Rajat are banned in CNBC after making huge loses to traders and invetors. Now they appear in ET to help others for making loses

Hi munde,

Moral of the story:Do not watch business channels during trading hours.
That is why I am asking my broker ,ZERODHA, to run NEWS TICKER instead.

 

[DanPickUp]

Hi munde,

Moral of the story:Do not watch business channels during trading hours.

Yep, you can believe that That was one of the first lessons I was told, when I started to trade with a senior trader. News ticker for any real special case ok and the rest just : Off.

 

[columbus]

Yep, you can believe that That was one of the first lessons I was told, when I started to trade with a senior trader. News ticker for any real special case ok and the rest just : Off.

Apart from the business news channels ,they are few more aspects ,which
will affect our trading strategies ........

1.TBQ/TSQ
2.Individual indices/World indices/Global cues
3.Our MTM positions............others.......

 

[thestarvingtrader]

Any major events happening today? Day trading today. Understand that coal and power projects are being reviewd by the PM, so gona stay well clear of these stocks. Will try to update every hour or so on here.

Looking at DLF for intra day short and IDFC for any possible longs (not friendly to longs today though)

The Starving Trader

 

[kevin_shah]

Hey ST, good to see u again,
Well, today i am not going to day trade unless the nifty breaks 5400 as it is very resilient and strong despite, bad earnings by infosys, sbi, etc,, plus high inflation nos., high interest rates....as practically it should break down 5400 very early though....
I think bad news get discounted in this zone of 5600-5400 levels
Any way saw ur blog...and also mad some analysis on daily chart of nifty
As we can see there is symmetrical triangle formation on daily charts from 6300 upside in nov 2010 and 4500 level from may 2010...just draw a trendline and u will see the triangle formation
This suggest we may see a explosive move of 1500 points in the nifty very soon.. but in which direction of course that needs to be seen
Text book explanation says Symmetrical triangles at resistance zone tend to fail and my proceed downwards inspite being bullish...

 

[munde_77]

Kevin, U pls draw and post here, it will be helpful to all here.

 

[kevin_shah]

Munde Sir ,
I will post the chart after market hours.. lets see if it breaks 5400 today my target is 5344

 

[thestarvingtrader]

yeah definite daily symmetric triangle, but in an extended trend

Hello Kevin!
You are bang on about that symmetric triangle forming way up on the NIFTY Daily. Furthermore, you are also correct about the possible failure of this one. Continuation patterns in extended trends usually don't work as great as much as mid-trend or early-trend. For a nice example of a continuation pattern forming righ tnow take a look at Gold on the 60 minute chart! Bearish pattern that I'm still trying to find a decent entry in.
Well, the trading range sucks today and you made a wise call about not trading. unfortunately for me, all the lack of swing trading action has forced me into this. Let's see what I can scrape out of the market today

 

[Taurus1]

Ashwani Gujral , Sudarshan Sukhani and Rajat are banned in CNBC after making huge loses to traders and invetors. Now they appear in ET to help others for making loses

Excellent news, if it is true. :thumb:
Any link to support this info?
CNBC taking steps to ensure accountability. :thumb: