Hello

#1
Hello people,

Im a newbie for stocks trading and find our forum very useful.

Im facing a very peculiar problem and need help with this issue.

I have been studying a lot on technical analysis for the past two years or so..must have read close to 100 hundred different books.

But I have not executed even a single trade with my broker as of now( Sharekhan)..after two years of analysis and more analysis!

Im going to start paper trading the mini nifty for a month and then go live.My style will be position trading the nifty for 2-3 days.

For advise from seniors Im going to post my views over nifty and look for support..

My Trading capital : 1 lac. My absolute stop loss : 2000Rs/ trade.( I will square off losing postions on the same day and look to re enter the next day).I will trade one mini nifty contract strictly on EOD analysis.


I use NSE for EOD data. Can somebody advice which is the correct volume to consider : Number of shares traded (Nos) or Market Turnover( Rs)?

My view for October 29, 2009:

1. Nifty in downtrend: Broke the 4950 support very easily but starting to consolidate around 4800. If I find further evidence of strength based on todays close I will buy one contract tomorrow around 10am.Im not going to go start as i feel the down trend is losiing steam..

This will be paper trades until November 30 and December 1 will go live.Seniors pls guide me on my trading.
 
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