CNX IT.. bearish..CNX IT has closed below 200 dma and for the 4th time testing 200 dma failed to cross 100 dma also a clear bearish divergence has been unfolding. rupee below 70. weak forecast from US tech companies all favoring against the IT index. NOTE: this is my personal view only..Educationby mklives1
Trading - Make it Easy - Part 2It is said "Knowledge is power". We get knowledge from books and experiences. Lets see the list of books which will help you improve your technical knowledge. 1. "Technical Analysis Explained" by Martin J Pring 2. "Japanese candlesticks charting technique" by Steve Nison 3. "Trading for a living" by Alexander Elder 4. "Reading price charts bar by bar " by Al Brooks 5. "Trading in the zone" by Mark Douglas. 6. "Fibonacci Analysis" by Constance Brown After completing these books you can read "Market Wizards" by Jack D Schwager and "Reminiscences of a stock operator" by Edwin Lefevre. Often I get the query "what books to read to gain technical knowledge" from the Newbie's and above is the list for them. You need knowledge about trading psychology to apply your technical knowledge in live market. Read my old posts about "trading psychology". When you learn everything yourself, it takes time. To shorten the time of your learning curve, find a mentor and learn to trade well. Trading makes a person a better human being. I wish you all "A blasting, prosperous, joyful new year 2019". Every day is a new day. Every beginning is a new beginning. Stay focused and achieve your goals. I thank all the readers/analysts/friends here for their wonderful support in 2018. Your support encourages me to write more. Do hit like to get more posts. regards, Vanathiby vanathi8830
CHRISTMAS GIFT: The Operators' End GameFirst of all, the secret or trick (whatever you want to call it) that I am going to reveal here are very rare and are not available in any book or youtube stuff. I learned trading through experience, mind my words "trading" not "technical analysis". I learned TA from books but trading -- I learnt through practice, and by practice I mean losing money :) I think no one can ever learn trading without losing money. Any ways... Secondly, the trick is applicable on everyday basis. Infact, it is applicable on 90% of trades that you take on intraday basis. So before you lose your patience, here is the secret: Let's discuss this stuff on a long trade and u can apply it on the short side later by yourself. Let's say you find an interesting setup to go long. You took the trade and put a stoploss and target orders. The stock moves in your direction and you are quite happy with the trade. Now it is, say, half way your target point where you might have considered to to trail. Suddenly the stock takes a dive down and hit your stoploss. The moment it hits your stoploss, it resumes its previous trend (upward in this case) and reaches your target in a strong momentum. You are just stunned, staring at the chart and scolding the market or yourself uttering you are a fool..you can never learn trading..bla..bla. To my knowledge, it would have happened to everybody unless one has silicon brains. Let's see what happened with the trade. Not only you but there were many other traders who were looking at the beautiful buying setup. The moment the setup started yielding results, it came on scanners of some big traders or trader. But they have a problem with breakout trades. They do not enter untill they are confirmed about the breakouts. Once the BO is confirmed, they look for entries. But they have another problem you know -- they have huge money. Yes, huge money is a big problem. The price has already run far enough and if they pump in their money at this point, they would be buying at highs. Their huge orders will makes the 'ask' go higher and it will make the price to run up even faster, so they will have to buy at even higher prices. No..No..No..that's not what they like coz they know that's how 95% people have been losing money in trading. Their only desire is to buy at lower prices, on pullbacks. They just look for points where most of traders have placed their stops. Because it is those points where there is lot of supply, stop loss orders you know..sell..sell..sell..everybody is moving out of the stock which is in an uptrend after BO from an incredible setup. It is only those selling orders which can fulfill the huge demand of big traders without even raising the bids. Ultimately, the demand overpowers the supply and the stock shoots back to resume the trend. How the price was forced to hit the floor? That's a different story. Some call it operators' game. Such activities are more common in the afternoon sessions, when volumes are sucked. We call it churning session, where there is change of hands. So why don't a retail trader trades with the market maker. It may be because of lack if awareness or lack of experience I must say. But once you know the market makers' psychology and adapt to it, you will make money in more than 75% of your trades. You just have to look for such opportunities on the charts. OR ELSE you will have to go for wider stops, which most of the traders could not afford. You may combine this knowledge with my VWAP SETUP that I am going to link with this post. HAPPY CHRISTMAS and HAPPY TRADING in 2019 I wish we all make good money in 2019 Hit Like if it has added to your knowledge. Comments are also welcomed. Regards BravetotradeEducationby BravetotradeUpdated 414148
Trading - Make it Easy - Part 1Its said "trading is simple, but not easy". Why it is not easy? Because we are making it complicated. Today we will see about the importance of trading plan. A trade with out proper plan is gambling. Before entering a trade you should know when to enter, stop loss, exit and partial profit booking levels. Trading plan is like a road to the destination you want to reach. Now you have trading plan. Next step is to execute it properly. You need proper concentration to trade. Some people trade in between their break time, lunch time etc. This type of trade is done in a hurry and obviously it wont end well. Plan your trades before market open, observe the market for few minutes and execute your trading plan. If you have any doubt about the trend direction, do not enter the trade. Stay tuned to the next part and keep liking the ideas. Thanks!Educationby vanathi131322
Nifty ITEnding the series with a view of the IT index. The support is the 50WEMA, ST support and also a breakout retest. Usually when there is so many indicators at a point wait for a bounce at support or breakdown before taking a trade. by rdkriplaniUpdated 1
#CNXITNear Fibo Support Full strength candle Top is confirmed W charts On D, reversal confirmation in place with CCI-S Can slide to 12442 and 11980.55 Pinbar Broken with strengthShortby krishnakhanna1
NIFTY IT analysis on smaller time frame (bullish)NIFTY IT forming ascending triangle and taking support on fib level NIFTY IT stocks can pump tomorrowLongby S6H7864
NIFTY IT (CNXIT) trendline on historical chartIt has been observed on NIFTY IT CNXIT weekly chart that a rising trend line has been acting as good support and resistance on several occasions. PS: Request you to use this trend line setup as a supplement to your analysis before taking any position. Thanks, tRex Jurassic Parkby k314Updated 13
nifty it bullish on 4 hour time frame nifty it is taking support on the green zone and a fib level of 61.80 it can be more bullish Longby S6H7864
nifty it - heading for a correctionfrom last three weeks price is not able to break 16190 on closing basis continuous rejection on higher level short with 16000 sl for 15355Shortby kachartsUpdated 7
NSE IT - monthlyThe log-normal monthly chart of NSE IT. The price is approaching the upper part of the rising parallel channel.by SnowballPro2
Tech stocks may be in for another rallyApplied Fibonacci levels to IT index. Index seems to be closing above it short term resistance oh 16086 level. A strong breakout above previous highs of 16130 will be a buying opportunity in Tech stocks like Techm Infy TCS Wipro Mindtree which have been strong. Weaker rupee may be a trigger. But one should wait for a breakout and not hurry since they have rallied a lot this year.Longby Lucifer759Updated 0