Price only trader, focus on mid/small caps. Charts are only for educational purposes & not a recommendation, be kind in the replies. Not SEBI registered.
Superb follow up move today #NIFTY almost 2% up. I wouldn't be reading too much into this though - Bear market corrections (pullbacks) tend to be sharp and that's where the quick trading money is made. I would be selling this bounce if I had any existing positions.
Right on cue - this ๐was posted in the morning, #NIFTY is almost entering the gap. Upward momentum should take us closer to 16217 in the short term unless something drastic happens (which has been the case daily). Stocks like #DLF have already entered this gap.
That said, I will not hold any overnight positions. Only open position right now is #ONGC which is a very minor position. Intra day positions today taken in #DLF & #TATAMOTORS - both positions are up more than 3%
I also hold some #GOLD in the form of gold bees - a superb hedge to equities #DOWJONES is down another 660 odd pts right now. For almost the past month and a half, cash has been king!
When will the markets stop falling? No one knows. If anyone is telling you to buy the dip, unless you are a LT investor, this might be the worst advise . Just as how stocks can keep rising, they can also keep falling. It is a game of supply & demand after all #Nifty#stockmarket
A lot of folks advising to buy the Dip today. NO! If you are a trend based trader, this is absolutely not the time to buy. The only stocks propping up on my scanning are some metals & oil/gas related. I added a very small position to ONGC today. My only holding right now 95% cash
While #NIFTY looks to have broken down, #USDINR is in a very big mood to breakout despite the best interventions by #RBI - this should fuel a bigger down move especially in #SMALLCAPS & #MIDCAPS 76.412 is the retest of previous swing highs. If it breaks above this level - DANGER
Good morning! There are a lot of messages that charts tell us, if we can put our emotions & ego aside and follow their cues, that is absolutely one step towards becoming a good trader when markets are treading up & an even better protector of capital in downtrends. Switch to OFF
Universus Photo Imagings - Another beautiful example of what I look for in my multibaggers
๐ฏBreakout from any range backed by volumes
๐ฏSubsequent pullbacks from breakout should not violate breakout levels (+/-2% of breakout levels)
๐ฏClear up trend during the last 2 months
Exited #UNIVPHOTO at 958 as the stock is facing some challenge closer to 960-980 & results are coming up in a few days time. Will keep it on my watchlist and continue to track.