sambhai
Long

WEEKEND EDITION:Need to first identify your trading style.

NSE:PETRONET   PETRONET LNG INR10
28 0 4
Hmm....good to see market is going up.How ever technical analysis is a judging the momentum.So irrespective of market profit going up or down you have to flow with the trend & get profitable.For this its very important to identify your trading style and long term objective.Basically there are three types of trader.

(1) Long term--------They invest there money for long term gains.They must be following money market from edges and know that ultimately market is going to go higher.They have observed 2003             bull market ,2008 bear market.So they are confident and understand the market potential.They do not give much importance to short term panic or euphoria.They may be doing SIP or constructing their own profitable portfolio.They know the basics of long term wealth creation.Sip is good for most as they cant follow fundamentals and technical.

(2)Medium term or Swing -----------They invest for medium term and invest when they observe market or index & particular stock is in trend.Swing trading normally ranges from 1 week to 1 month for particular stock.Sound technical knowledge and keeping an eye on the market is necessary.They have a strong acumen to judge the market trend and strength of the trend.They follow the news and develop the insight to read between those lines.Their objective to invest for short term and get benefited form the market trend.

(3)Short term---------------They are the ones who like to trade for intraday or btst,stbt. They should have a great knowledge and very fast in placing the orders and closing the position.Mind should be crystal clear about the profit targets.They only think about the levels and momentum of a particular stock.I have seen many traders in my learning journey who buy and sell their stock in 15 minutes and get profitable.They aim for the target between 2-3% and stop loss is always very close.They have the objective of making money by using intrady volatility . However its tempting but bit risky and only 10% get profitable.I would not say which one is better onus is on you to to decide.

The bottom line is before one start trading one should be aware about his strength,weakness
and objectives.

About the chart posted:There are so many indicators & oscillator to use on a chart.Every chart has a different settings of indicators and parameters.Same indicators can not be fixed on every chart.Otherwise life would have been so easy.But i like to keep it simple as much as possible.I believe If only one trend line can show what i am talking about then its lot more easy to understand.Stock is in uptrend and i have mentioned a very logical 1 st             target.When it gets to surpass that target you can right in comment to 2 price objective.i have mentioned stoploss and long term support.

P.S.-----This is not any recommendation to buy.Its for educational purpose only.Money market is risky.Talk to your financial expert before any investment decision.
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