Intraday Trading for a Living!

Thanks for sharing the advice. It is unfortunate that the reason why most people start to trade is that they think that they will be able to make money easily in the market. But in reality, nothing like this happens. It is better to prepare yourself beforehand so that you don’t make unnecessary decisions that can lead to losses.
NIFTY 50 : Since 90s


There are three important things on this chart.
1. Pullback Buying opportunities
2. RSI
3. Cycles

1. After every breakout market pullback to the breakout level to retest and that provides an excellent opportunity to invest. Historically, buying at panic bottoms have given best returns.

2. Almost at every retest, RSI pullsback to near 40. At panic bottoms its even below 40. This adds an extra confirmation to buy an oversold market.

3. There are two cycles which have been repeating since early 90s. These are 34 and 50 month cycle. There is a margin of error in this cycle as can be observed from the chart. It simply means that successive bottoms do appear at an interval of 34 months or near a 50 month interval.

All the above three parameters coincide at or near a bottom and hence have been attracting money in the market for the last three decades.
*गुरू , किताब और दोस्त* *गलत हों तो बरबाद कर देते हैं, और सही हो तो आबlद कर देतें हैं !!*