"NS took support at Daily Cam R3 from upside. In my experience, whenever Daily R4 & R3 gets broken from UPside, it gives a good intra-fall. Vice-versa for S4 & S3."
When price moves above Cam R3 & R4, it becomes a breakout. If price moves below Cam S3 & then S4, then its a breakdown. Now take today's price action. Today Cam R3 & R4 are 5760 & 5780. Nifty opened above both these two. As per my observations, I waited first for 5780 to break. It broke and took NS quickly to 5760 which did NOT break, but rejected the price. Below 5760, I would take a short keeping SL above 5780. Similarly, if Nifty opened gap down today below Cam S3 & S4, then I would take a long above 5722 (S3) with Sl below 5702 (S4).
At the end of the tour they took him to the financial district. When they arrived to Battery Park the guide showed him some nice yachts anchoring there, and said, "Here are the yachts of our bankers and stock brokers."
That should be your Home work.. Another clue: Infact, one of our readers pointed out --yes..SAN with his beautiful chart that Below "5782 - it would be fade the gap". And it did fill the gap and reversed. Such gap fillings give a trader, good trades. Add it to your education to be used another time.
Mine was hitted at 5795 spot, double bought there and shorted again at 5830...will add more shorts with stop loss of 5850 on hourly closing basis only.
Sir- in the morning you had posted the below. Should i exit my exit my JNSAR short if it closes above 5840 or hold if closes below 5840?
Staying above Day's pivot-5730 & DLEma-5744, it could attempt DEma-5786 or 5800(Opening session) and if persisted, then upto 5840(10sma)
Am I missing something? In the daily charts, all I am seeing is a huge Inverse H&S, with the neckline at 5917 for today and 5912 for tomorrow. The weekly value is coming to 5912. But Master or Prashant's values are different.
Pls go through the tech table and learn how to trade with it.Try few trades with your learning..Iam sure u can be a successful trader ...I was also like u 6 months back and now i trade of my own with the help of TT, needless to say iam making profits here...Credit goes to Ilango sir.
RishiM : 1. I don't trade gold - just on HOLD. 2. SAR cited is J10(10EMA) which can be obtained by replacing MCX Bhavcopy data on Nifty TA file. 3. Crude and Silver are my trading counters. Silver SAR is at 60731 (far far away ...but behind).
"The reason is that a man may see straight and clearly and yet become impatient or doubtful when the market takes its time about doing as he figured it must do. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them. They beat themselves, because though they have brains they cannot sit tight."
Navigating your investments in the marketplace requires a thorough study of the undercurrents in the leading indices. Stocks follow the index (Nifty). You can also make your investments directly in the index through Nifty Futures which is a proxy of the composite leading bluechip companies.