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NIFTY - BUDGET DAY IDEA | Must ReadAttention please ... tomorrow is budget day and lot of movement is expected. You'll get a lot of calls/ideas saying this will happen, that will happen, go long, go short, etc. But, as professional traders, we know that predicting is not our job, our job is to make money. Believe me, whoever tells you that he knows what all will be announced in budget and how the stocks and index will react, he is lying. Nobody knows, not even Jaitley, that at what level will Nifty go. Hence, don't decide pehle se hi ki main to long hi jaunga, nifty badhega ya main to short karunga, nifty girega. That's a beginner's approach. Not ours :p Crazy movement is seen on budget day. So trade with caution and save yourself from swift movements against you. SL is must. So, how do we do make money? Here's my strategy, ( you can trade with other strategies too, but whatever I have written above is true for everything, that's why I titled it as a Must Read ) According to my analysis, I have marked levels on Nifty. You can see R1 which is the Resistance, so if Nifty stays above today's CMP, there's no real resistance. You can buy as long as it stays above it, Nifty is strong. You can see S1 and S2, they are Support points, but they might be breached if the market is unhappy with the budget. You can go short when it goes below these lines, with the line as SL. And then you can see S*1, S*2, S*3 which are stronger support lines which shouldn't be easy to go through, and which should act as your take profit points. ( targets ) when you go short below S1,S2. If it goes below S*1, Nifty is too weak then. Additionally, you can see a special blue trendline, if it stays above it, then Nifty is ultra strong, below it, not so much... Final words : Stay calm, follow your plan, don't rush, take quick action, be prepared for reversals. Thanks and best of luck :)
NSE:NIFTY
by dravya
8
Republic Day Idea - Short TermHappy Republic Day, fellow Indians. Here, I am sharing a good potential setup for ICICIBANK. it's in an ascending channel, which you can see in the chart in related ideas. The lines I have drawn have significance from previous levels. I have marked prices accordingly. Hughe volume also see in the last few hours increasing the probability of upmove. So, take positions in ICICI and see how it unfolds. The entry can be taken according to your strategy, but you must exit at the given levels. Thanks. Have a good day.
NSE:ICICIBANKLong
by dravya
15
INTRADAY/SHORT TERM- NOTE DOWN THE PRICE LEVELSHi, fellow traders, here I have marked important price points which I suggest you mark and watch the stock. I will list them down on 4 Grades, Grade 1 being the strongest and Grade 4 being the weakest. Grade 1 Support - 257.4 , 254,3, 234.9 Grade 2 Support - NA Grade 3 Support - 250.2, 243.75 Grade 4 Support - 252.9 Grade 1 Resistance - NA Grade 2 Resistance - 265.4, 271.5 Grade 3 Resistance - 262.8 Grade 4 Resistance - 258.7 So, what to do ? As of now, Go long, CMP : 258.6 Keeping Grade 1 Supports as SL , ( 257.4 , 254.3 ) and Grade 2 Resistance as Targets . ( 265.4 , 271.5 ) Why so ? we are going long; we have strong supports at 1 Rupee and 4 Rupees, below us. we are targeting weaker resistance which is 7 Rupees and 13 Rupees, above us. Rest, I'll be updating what to do as action unfolds. You can follow me or star this idea to receive updates. ( I'll try to update real-time) Thanks.
NSE:SBINLong
by dravya
8
NIFTY _ BREAKOUT - Great Risk:Reward#short-term I love to trade breakouts because of the amazing risk reward ratio they provide. Even if we are wrong half of the time, we will still end up in profit. So, here, Nifty has given a breakout above the 8462 line. So strategy, would be long Nifty ( CMP : 8476 ) . SL - 8462 ( 14 point risk as of now ) Target - 8616 ( 140 points reward as of now ) Risk Reward Ratio :: 10 : 1 If at all it falls below that level, and afterwards there's upmove and we get an hourly bar with it's low above the 8460s level, then buy again with the same SL . If it doesn't return or still falls, then we don't take any trade. Thanks.
NSE:NIFTYLong
by dravya
14