CNXENERGY "NIFTY ENERGY" "WEEKLY VIEW".Wait for the levels to break or bounce
All these levels have been drawn based on Bigger time frames I.e 4hrs , daily.
This is my view and now lets hope for the best!!!
Whats your view comment down below!/.
CNXENERGY trade ideas
not confirm ..Head and Shouldernot confirm ..wait for the confirmation ... just follow the chart and decide
Trader's Queries - Stop lossQuery : I do not use/follow stop loss. For example if I purchase 100 share @ 100 Rs if share value @Rs 102 means I book and exit if going down means wait (Mentally thinking coming up like that) finally sell @ Rs 80. 20 Rs loss per share. How to control this?
Answer : I have seen this problem among many new traders. Not closing the trade when it hit the stop loss and making the loss big. This problem also has the same reasons which I have mentioned in my post about "discipline". If you did not read it yet, refer the links given below. In addition to that one important reason is when we are trading, we are dealing with virtual money and not feeling the money. So the pain of losing money wont be felt by us till we empty our capital.
In war, soldiers save/protect their life to fight for another day. Similarly, with out capital we can not trade the next day. When we realize that, we have to protect our capital, to trade next day, we will respect the stop loss. Remember " You have to protect your capital to take next trade".
Note : Post written as a reply for the query from a regular follower. Replied/posted 3 queries from regular followers in 24 hrs.
Sell On Rise This sector few scrips are high likely due for very sharp and dramatic move down
One can look for opportunity in short selling scrip which are due for down ward move
CNX Energy ready to break hingherReliance contributes 56% of the weight is a good buy.
Even other constituents of the index can be bought such as ONGC, GAIL, BPCL & HINDPETRO.
Power sector is in Full mood to move more up sideStock made saucer shape after that made flag pattern and now brk the pattern
ENERGY Bullish and so in NIFTY but Don't Jump the GUNEnergy is doing good and has shown mere signs of weakness and is trying to break the Previous Highs for the 3rd Time.
If you have been in the Markets Long enough you know, 3 is a significant number when it comes to supports / resistances and Breakouts.
A breakout above the highs will put it into unchartered territories and if NIFTY kept its Trend and no surprises. Good moves can be Expected in Energy Stocks.
My Favourite Stocks here are
Reliance Industries ( approx 21% up Year to Date, this is in a very strong bull trend )
HindPetro
Bharat Petroleum
IOC
Note: Don't Jump the gun and Stay in Front Liners.
Energy companies are toastThe CNXENERGY index is showing ominous signs.
These stocks haven't been doing too well recently but have enjoyed a sustained uptrend.
It's time for reversal now. The fundamental picture is not at all good and this move downward is just getting started.
For more thorough analysis, check out my daily NSE dashboards at
rpubs.com
