Incisive Nifty Trend Analysis

[NANDAMAD]

Here it is TAMO languishing near the target. Gave the short close to 310. Stock market has taught me a few good lessons over the years:

1. Patience, which is very very important in every facet of life.
2.To control emotions.
3. Not to be greedy.
4. Stick to your conviction when you are sure of being on the right side.

VERY confident call it was. Booked profits.Thank you so much.

 

[josh1]

Nifty Update: Nifty is on its way to test its first meaningful support zone- 5510-5530 before any meaningful short covering sets in. Until then bounce backs are only going to be shallow. Analysts expect 5600 to hold and this level should give way in the next few sessions. Bigger picture looks quite ugly( not a surprise ). Will keep you'll posted once the move plays out.

:clapping::clapping::clapping:

 

[DSM]

Thanks Prada.

One question as you are positional trader. Do you watch the screen all day like daytraders? If so, do you not get tempted to take the deep 3%-5% intraday/two days correction, wait for a pullback and short again?

Alternatively, do you take a trade, and hold it till your target level is met or SL triggered.?

Here it is TAMO languishing near the target. Gave the short close to 310. Stock market has taught me a few good lessons over the years:

1. Patience, which is very very important in every facet of life.
2.To control emotions.
3. Not to be greedy.
4. Stick to your conviction when you are sure of being on the right side.

 

[prada]

DSM, I don't watch the screen all day. I trade offline most of the time and my broker keeps me updated with respect to the pricing of my positions. As I have already told you, sometimes I hold onto positions for months until my target is met. Since I trade less frequently and only when I am absolutely convinced, there is a very slim chance of my stoplosses getting hit.

Thanks Prada.

One question as you are positional trader. Do you watch the screen all day like daytraders? If so, do you not get tempted to take the deep 3%-5% intraday/two days correction, wait for a pullback and short again?

Alternatively, do you take a trade, and hold it till your target level is met or SL triggered.?

 

[sabhlok_r]

DSM, I don't watch the screen all day. I trade offline most of the time and my broker keeps me updated with respect to the pricing of my positions. As I have already told you, sometimes I hold onto positions for months until my target is met. Since I trade less frequently and only when I am absolutely convinced, there is a very slim chance of my stoplosses getting hit.

Hi Prada....pl check PM and revert

Rajesh

 

[DSM]

Thanks for the clarification Prada. Watching the screen I guess compells one to trade more often. I had taken your call and did exit earlier, as the profit at that time was too tempting to not take. In hindsight, I note that the stock would have taken off half my profits, but if held on, it would have given more than double the profit.

DSM, I don't watch the screen all day. I trade offline most of the time and my broker keeps me updated with respect to the pricing of my positions. As I have already told you, sometimes I hold onto positions for months until my target is met. Since I trade less frequently and only when I am absolutely convinced, there is a very slim chance of my stoplosses getting hit.

 

[josh1]

DSM, I don't watch the screen all day. I trade offline most of the time and my broker keeps me updated with respect to the pricing of my positions. As I have already told you, sometimes I hold onto positions for months until my target is met. Since I trade less frequently and only when I am absolutely convinced, there is a very slim chance of my stoplosses getting hit.

Prada,

Do you see intra-day charts at all or do you trade on the basis of EOD charts only

 

[prada]

Josh, I trade only on the basis of EOD Charts (daily time frame). Some times for clarity's sake I look at hourly charts (EOD again) which is quite rare. This has proved to be fruitful and suits my style of trading.

Prada,

Do you see intra-day charts at all or do you trade on the basis of EOD charts only

 

[Bewinner]

Nifty Update: Nifty is on its way to test its first meaningful support zone- 5510-5530 before any meaningful short covering sets in. Until then bounce backs are only going to be shallow. Analysts expect 5600 to hold and this level should give way in the next few sessions. Bigger picture looks quite ugly( not a surprise ). Will keep you'll posted once the move plays out.

Hi Prada,

The view u r giving is quite helpful for me...as u said earlier that a short covering should set in 5510-5530...so can we take a long position over there and what should be the target for this short covering if at all happens...

 

[Option.Trader]

Josh, I trade only on the basis of EOD Charts (daily time frame). Some times for clarity's sake I look at hourly charts (EOD again) which is quite rare. This has proved to be fruitful and suits my style of trading.

Is this purely based on technical charts or do you have any other considerations? Would love to see if the audience can be benefitted from your learnings... I love the passion and process associated with making money.. not the money itself... that will follow if your set up is solid..
Request you to share your reasons behind a certain call...