6100 has just become the new support level for Nifty. The chances of closing above 6100 are very strong. Even 6200 is very likely to be conquered within couple of days. Holding long positions will be a good idea, in place of taking profits/partial profits at this level. While there were some short-building occurred in the recent past, the short covering is yet to take place. If the short covering occurred today, we can see the levels above 6150 by today itself. I will be looking to book some profits above 6150 levels.
Namaste - My Learning of Trading in Nifty
- Thread starter crown
- Start date
well that's great
Put Call Open Interest analysis.
Nifty has made a strong support at 6100 levels now and 6200 levels have become easily achievable. If the current momentum continues for one more week even 6400 levels can be expected. The current level of resistance where bears are relying is at 6300. Therefore, i am not expecting any correction before Nifty closes above 6200.
Put Call Open Interest analysis.
Nifty has made a strong support at 6100 levels now and 6200 levels have become easily achievable. If the current momentum continues for one more week even 6400 levels can be expected. The current level of resistance where bears are relying is at 6300. Therefore, i am not expecting any correction before Nifty closes above 6200.
well josh bro, it will be difficult for me to call it a flag as per the available patterns. But as the time progress, new type of patterns are also take shape. the term 'continuation rectangle' looks more appropriate. currently, i am still learning to find out the method of getting targets in advance. therefore, not possible for me to say anything about the target. however, all I am doing now a days is to decide after the closing i.e. on EOD basis. lets the chart decide what is the target. like radico khaitan.. i am holding it.. had i tried to have some target/stoploss, i would definitely been ended in loss. but right now i am still expecting it to rise to give some reasonable gains.
one important thing, at least important for me now - don't know if i stop using it tomorrow; is that using predefined targets, stop losses and entry points is not of much use. sometime when u succeed in entering a bad stock at low levels, you have gains; while when u enter a good stock at high levels, you have to face the loss. therefore, it is the level which counts. like praveen bhai once said that traders buy at support and sell at resistance. therefore, a stock is at support level is sufficient to enter long in it. the use of other tools like momentum, cross overs etc is very secondary and many times one do not have the right price to enter. like on friday, i was thinking of entering long in shoppers stop; though it was going down since past couple of days, but i was having some clue of it being at its support levels and expecting it to remain at the support for 1-2 days ; but it did not allow me to enter at reasonable price and unlike earlier times, this time i did not try to catch the missed bus; otherwise i would have entered long in a good script but at high price.
Hi Crown Bro
Good evening!
Busy! I guess I ahave one quries... want to get high beta sector and High beta equity to do stock screening. Does high beta index of equity and sectors get change evry now and then. How they calculated is it related with expiry period. Throw some light whatever the info u can throw on them. how can I combine with Macd volume and bullish engulfing candlesticks. I guess this is quite tedious what are the free software that I do such kind of stock screening.
Thanks in advance
Good evening!
Busy! I guess I ahave one quries... want to get high beta sector and High beta equity to do stock screening. Does high beta index of equity and sectors get change evry now and then. How they calculated is it related with expiry period. Throw some light whatever the info u can throw on them. how can I combine with Macd volume and bullish engulfing candlesticks. I guess this is quite tedious what are the free software that I do such kind of stock screening.
Thanks in advance
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