need help for intraday trading

newbie_7

Active Member
#1
hello sirs,

I want to know if you use sector charts in combination with stock charts for entering a trade intraday.

for instance...if SAIL is the stock you are looking to buy intraday, would you just go by the NIFTY chart or also keep the CNX metal index chart open to time your entry? would your chances of success be higher if you trade a stock in combination with the specific sector chart, than just go by the NIFTY which is just a broad market index?

I think intraday traders use the NIFTY chart to just gauge broad market direction and use sector index charts to time entry and exit into stocks of that sector. am I right in this...or do you experienced traders have a different view?

Kindly reply to my query.

Happy and prosperous new year to all of you on traderji.com

regards,

newbie_7
 
#2
hi.......m not a expert....but want to share my thoughts...It is good to gauge mkt direction before looking at stocks.....some experts like to see in sequence of 1)Mkt direction 2)top sectors 3)finally leaders from that sector.......but somes r believing "If stock is looking good play on it..........if index is looking good then play on it..........simple.........."
 

Ameet148

Active Member
#4
If you are a beginner, it's better to quit trading if this is your approach.Start reading a trading book first before posting any queries here.Market is not random nor is controlled by masses.This is real world chess, where manipulators are waiting for newbie guys like you.