hello sirs,
I want to know if you use sector charts in combination with stock charts for entering a trade intraday.
for instance...if SAIL is the stock you are looking to buy intraday, would you just go by the NIFTY chart or also keep the CNX metal index chart open to time your entry? would your chances of success be higher if you trade a stock in combination with the specific sector chart, than just go by the NIFTY which is just a broad market index?
I think intraday traders use the NIFTY chart to just gauge broad market direction and use sector index charts to time entry and exit into stocks of that sector. am I right in this...or do you experienced traders have a different view?
Kindly reply to my query.
Happy and prosperous new year to all of you on traderji.com
regards,
newbie_7
I want to know if you use sector charts in combination with stock charts for entering a trade intraday.
for instance...if SAIL is the stock you are looking to buy intraday, would you just go by the NIFTY chart or also keep the CNX metal index chart open to time your entry? would your chances of success be higher if you trade a stock in combination with the specific sector chart, than just go by the NIFTY which is just a broad market index?
I think intraday traders use the NIFTY chart to just gauge broad market direction and use sector index charts to time entry and exit into stocks of that sector. am I right in this...or do you experienced traders have a different view?
Kindly reply to my query.
Happy and prosperous new year to all of you on traderji.com
regards,
newbie_7