Trading Diary Mininifty

[GSSodhi]

Even today nothing to do in the nifty. minifity is in the range of 5570-5590

was thinking to buy 1 lot of minifty @5570 but did not because result was not very rewarding

 

[Anillal]

Simply seeing chart of 5mintf and 21 sma

No MA or TF will tell you sir that the nifty constituent 50 companies got tired after so much buying and need to rest around major resistances. Short-term or swing traders are being offloaded and more supply is being absorbed from the top. If the news all around remains rosy the next step would be breakout on the upside. Otherwise back to the pavalion. I am afraid the microscopic 5 minute nifty chart is too small to show the big picture so the best thing would be to study hourly chart at least and see how the price action is taking place. Find levels from where market may make move on either side. And as our political scene is action packed right now, the move will be fast and furious. Till then remain in cash.

 

[GSSodhi]

Truly speaking I became upset By taking some large loss. After That I take a rest and search for the better strategy. I was busy in back testing and to get the confidence. But then a problem my mm does not allowing me to trade in nifty so I will share my trades on Different stocks from tomorrow In the New thread "My Trading Diary." Hope we will discuss different parts of the trades in the evening.