The way Nifty started the rally from 5500 level and went upto 5600 today, 5500 has become the immediate support for the index. The index managed to hold onto this level for two consecutive sessions. But we may see selling pressure around 5610-5620 as the short term trend is still negative.
I would not prefer taking any overnight position until Nifty has come out of the box indicated in the pic.
Lets see what the index is doing now.. :thumb::thumb:
It was a horrible day. Made some serious mistakes and lost big money.
I had given the buy order of Nifty FUT @ 5595, but the order did not executed and market kept on rising. So in order to make most of the opportunity, tried to bought call option, but HELL..
With a typo I bought 5600 PE @69, and i realised it when i got the trade confirmation from my broker on my cell.. Closed the position at 53. and had already booked a net loss of more than 3% of my margin
Later shorted SBIN Fut @2158, but this again came out to be a trap and it started rising when NIFTY crossed 5650. Lost another 2% in SBIN trade. Recovered a bit by going long on NF @5660 to 5680. But still net margin down by more than 3%..
Nifty may find immediate support at 5640-60 on downside, and if it holds then I will look for making an long entry at this level as Nifty is likely to extend the rally to 5740-60. But need to be cautious and trade carefully after yesterday's horrible mistake..
This week was not in my favour. Net gain has been reduced to 10% from 14%. I choose to stay out of market for last two trading sessions.. Will resume from Monday.
toshiaki said:
now net margin is up by 14%. 6% short from my April target, 2 weeks to go
But protecting capital is equally important as achieving the target,.
Sometime its better to stay away, rather than being there.. :thumb::thumb:
All is Well...
April was a month of mixed emotion and roller coaster. By April 15th my net gain for the month was at 14%, I was only 6% short from my monthly target. And then due to some mistakes and losses net gain fell below 10%. For protecting the capital, i decided to stay away from the market till May.
Finally closed the month of April at a 11% gain of my net fund. Targeting a 20% gain in the month of May. Let see