@preejay, I does not trade on indicator basis.if we observe stock at these level then there is fear among the traders.buyers thinks these stock overbought and sellers thinks these stock to wait and watch.these condition is in favour of short stock.but if we use 1% or 2% stop-loss then there is risk .there r investors who knows inside news and they take aggressive possition and these is happening in these stock.coming week will be volatile.on friday I have buy 1 lot reliance and sell 2 lot nifty in that gain 11000.but before that I loss 4200 in Asian paint.so,overall 7200.instead of reliance if we short l&t then what's ur view on that?
DSKF16
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@Pratikraj, Agreed with your view. I think impact of insider news can be guessed through Data or Chart Pattern & also some Calculations. Motive of Investor i.e. Psychology of trader can be Guessed through FnO Data.
Indicator, Oscillators, Overlays play some supporting roll also. We can't thrown signal generated by Indicator, Oscillators, Overlays to Bay of Bengal.
Think Successful Trade => Combination of "Data" + "Calculations" + "Chart Pattern" + "Perfect diagnosis of Indicator, Oscillators, Overlays".
Pratikraj
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@DSKF16, yes indicators r supportive to traders.I am not taking trades by drawing line on indicators.i only plot indicators like moving 20,34,50,100,200,bollingerband on my chart.and any trader who trades more than 5 years will automatically will understand chart.when I was new in trading before 7 years,I usually trade on indicator.but later I analyse the most important in trading is psychology of trader.i said short l&t not basis on indicator but it does not participated in last hour move in nifty.so there is some distributing stock.eitherwise l&t will make money even if we take long in stock at these level for long term.i usually take two contra calls one on long side and one on short side.at last I am also not perfect 100 % in trading as others.
DSKF16
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@Pratikraj, As I mentioned "Overlays", you use Overlays like MA, BB, Ichimoku etc.
Lastly Nobody can claim 100% in this market.
Thanks for your view. View exchange is healthy for gathering Knowledge.
Own View. Can Long Aug Exp 1140 / 1120 Put Option if traded above 1055+ Level (Spot).
OR Take Strategy Short Fut + Long 1180 CE (both AUG Future)