Where could we see NIFTY tomorrow...
- Thread starter findvikas
- Start date
Thanks Praveen for responding but I am really not sure I understood what is odin.. sorry for being noob.
Thanks murtaza bhai. I am very new to options trading and not sure how that works. I was looking at the global markets, specially China the way it reacted today and how US markets opened... any hope to see downtrend or are we still in uptrend... above what level are we up or low... I really miss Nishi Sir's thread
Thanks murtaza bhai. I am very new to options trading and not sure how that works. I was looking at the global markets, specially China the way it reacted today and how US markets opened... any hope to see downtrend or are we still in uptrend... above what level are we up or low... I really miss Nishi Sir's thread
This question needs more serious answer.
Vikas,the market and Nifty are in uptrend and we assume that they will remain in uptrend till they show a trend reversal....so far there is no sign of trend reversal but there are plenty of signs to indicate that the trend is pretty strong.....
Does it mean that nifty will not come down ?? Not at all...but we dont know when it will come down and more importantly how high it will go before a trend change sets in....
In my opinion best course is to cover your short position in any dip and get into the main trend which is up.....with this short position you are loosing all the profits which you would have made if you were in proper trend ie long...Now what is happening is all your energy is being wasted in finding out/taking remedial action on reducing loss.....you are missing profit making opportunity.....so if you go short and market goes against you,cut your loss and join the trend.....
It also does not mean that we should always be long....be long in uptrend and short in downtrend...and how do you know whether you are in uptrend or downtrend ???? This is what a forum like Traderji is for...look around,do your study and know and trade the trend....
My best wishes for salvaging your position at the minimum losses....
Smart_trade
Vikas,the market and Nifty are in uptrend and we assume that they will remain in uptrend till they show a trend reversal....so far there is no sign of trend reversal but there are plenty of signs to indicate that the trend is pretty strong.....
Does it mean that nifty will not come down ?? Not at all...but we dont know when it will come down and more importantly how high it will go before a trend change sets in....
In my opinion best course is to cover your short position in any dip and get into the main trend which is up.....with this short position you are loosing all the profits which you would have made if you were in proper trend ie long...Now what is happening is all your energy is being wasted in finding out/taking remedial action on reducing loss.....you are missing profit making opportunity.....so if you go short and market goes against you,cut your loss and join the trend.....
It also does not mean that we should always be long....be long in uptrend and short in downtrend...and how do you know whether you are in uptrend or downtrend ???? This is what a forum like Traderji is for...look around,do your study and know and trade the trend....
My best wishes for salvaging your position at the minimum losses....
Smart_trade
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Indeed... Sailing against the wave sounds very daring & good when read in books but when it comes to equity markets "Follow the trend" Once again thank ST... I have stopped sitting on one side of Market and started to quickly adopt to the change in market every day and multiple times daily. Trying to take benefits of every up.. by going long and every down by going short... and I am loving it
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