Some Good Steals...
- Thread starter AMITBE
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Hi Vicky, the orderbook would normally reflect the sentiment on the counter in both directions seen in the pattern of pending orders.
In your case with Infy, the underlying has strong support at 2770-2780 area, so as the price drifts down to those levels you'd see more buyers lining up to lend credence to strength at those levels. So here the price action is bearish, slipping to support levels where more buyers are come in.
If those levels were to be breached, pending sell orders would outnumber the buy orders.
When price action is set to break past important resistance levels, during the period of indecision, there would normally be more sell orders pending from those who came in lower and now wanting to sell. Once the breakout gets established there would be a rush of buy orders.
At times all this can be manipulated too, so one has to be careful.
Hope this is clear?
If there are more comments on this from other members, please do contribute.
Cheers Vicky.
In your case with Infy, the underlying has strong support at 2770-2780 area, so as the price drifts down to those levels you'd see more buyers lining up to lend credence to strength at those levels. So here the price action is bearish, slipping to support levels where more buyers are come in.
If those levels were to be breached, pending sell orders would outnumber the buy orders.
When price action is set to break past important resistance levels, during the period of indecision, there would normally be more sell orders pending from those who came in lower and now wanting to sell. Once the breakout gets established there would be a rush of buy orders.
At times all this can be manipulated too, so one has to be careful.
Hope this is clear?
If there are more comments on this from other members, please do contribute.
Cheers Vicky.
Hi Anupama and Roneeth,
Thank you both for your kind words...........they are uplifting and they spur one to continue helping in any little way that one possibly can.At times,when one feels the pressure of managing so many things at one time,kind words such as these act as a booster.
We are all students in this school of trading,all helping one another out........it's great to know that you have benefitted from some of the things written as I have myself from others in this remarkable forum.
All the very best!
Saint
Thank you both for your kind words...........they are uplifting and they spur one to continue helping in any little way that one possibly can.At times,when one feels the pressure of managing so many things at one time,kind words such as these act as a booster.
We are all students in this school of trading,all helping one another out........it's great to know that you have benefitted from some of the things written as I have myself from others in this remarkable forum.
All the very best!
Saint
Thanks Amit...
I mostly do my intraday trade with the help of intraday chart
and I ride with vol.. only.
Like I did intraday with srf in last mins. I did it according to intraday chart
by seeing the vol presure and moving avg signal may be i am wrong.
As per your answer Ob is risky for trade. Will follow ur advise.
Thanks
vicky
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Hi Anupama, thank you for the warm words. They are most appreciated, not only for what Saint has said, but also for lending support to the learning and sharing culture here at the forum that we have so diligently campaigned for over a period of time.
This is not to say that profit making is not high on the priority list for all of us here. It is.
But equally it is the learning of analysis, and all aspects of trading that eventually set us free of fear and greed, the two emotions closely associated with trading.
Tips and reccos is not really the purpose of this forum as one sees it, and when they are made with a clear reason, they are not tips any more. They are a subject of study and research, with profits being additional benifits.
As Saint has rightly said, we are all students here, and earn and learn as we go.
Quite a few members here have begun to interpret charts, read financial data, and trade with responsility and self reliance, and I'm sure they know the difference this has made to them.
I'm sure more and more will follow.
This forum is what it is for all the knowledgeable people here willing to help and learn further.
Great to see you again, Anupama.
This is not to say that profit making is not high on the priority list for all of us here. It is.
But equally it is the learning of analysis, and all aspects of trading that eventually set us free of fear and greed, the two emotions closely associated with trading.
Tips and reccos is not really the purpose of this forum as one sees it, and when they are made with a clear reason, they are not tips any more. They are a subject of study and research, with profits being additional benifits.
As Saint has rightly said, we are all students here, and earn and learn as we go.
Quite a few members here have begun to interpret charts, read financial data, and trade with responsility and self reliance, and I'm sure they know the difference this has made to them.
I'm sure more and more will follow.
This forum is what it is for all the knowledgeable people here willing to help and learn further.
Great to see you again, Anupama.
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