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CNXIT trade ideas

Newbie's Corner!This is the query I received from a fellow trader today. Hi, I am new to trading, started just a month ago. But being a beginner I made a mistake of playing intraday that too with 1000 stocks today. I lost 1900 in Allahabad bank and 3750 in Bank of Baroda. Both were in uptrend in morning, when I bought BOB was 189 and ALBK was 192. I was expecting just 0.5 points increase but they went down and never reached my target. When I bought I was not able to decide the trend, can you please tell me on what basis we have to pick stocks? when to enter and when to exit in intraday? I am sorry if I am bothering you, but I feel inputs from experienced people like you helps me in future. Here is my answer : Your question itself contains the answer you need. A beginner should always start trading with less quantity. Whenever I plan my trade with risk : reward ratio as 1:1 or 1:2, my trading mentor ask me this question "Are you a trader?" . Till now I get same question from my trading mentor some times. The point is keeping risk : reward ratio in a balanced way comes with experience. You are saying "I just expected 0.5 points". For 0.5 points why should you enter a trade? That is not advisable. Dont enter a trade when you cant find the trend. When you cant find the trend, it means you are confused. A trader should be very clear during trading. It also comes by experience only. Stock selection should be based on movement and volume of the stock. There is no timing for entry, exit in intraday. You can enter, exit when the price moves as per your "trading set up" or "trading plan". Learn about trading before entering in to the trading field.
NSE:CNXIT
by vanathi
17
Nifty IT Medium term viewWe are looking at a 8 year Nifty IT chart Lets see what the chart is trying to tell us... - Between 2009 to 2015 the price has risen from 1933 levels to 12908 levels - Since Jan 2009 till March 2015 the index has been making higher top higher bottom - It is only after March 2015 that the index is seen making lower top lower bottom on a regular basis Hence applying Fibonacci retracement level on the entire Bull cycle seen in NIFTY IT since Jan 2009 to March 2015 (roughly 75 months) - It is further observed that since 2015 Price is trading in a Downtrend channel - Blue trend line drawn from 2009 lows looks likely to be the Laxman Rekha (Make or Break line) 2 likely scenarios have been charted out... Eventual target for NIFTY IT-8750-8600 zone which is 38.2% retracement level of the entire rise from 1933 levels to 12908 levels - Time wise 38.2% of 75 months is 29 months giving us time till Sept 2017 - Channel support around Sept-Oct 2017 comes at 8750 levels Things that one should consider before initiating a trade - this is a medium term 6 months view - Wait for the levels to come - allow price behavior around key levels discussed in the chart to give further confirmation - Understand the Risk involved & Reward potential - Plan your trade accordingly ____________________________________________________________________________ "Be sure you put your feet in the right place, then stand firm." - Abraham Lincoln ____________________________________________________________________________ Take care and safe trading...!!!
NSE:CNXITShort
by indiamarketoutlook
CNXIT- Channel,Choppiness & Confusion-Raised The Alarm@10900Critical Level- 9592 When it crossed 10590's & channel top & started behaving very weird with all choppy moves right at previous support zone 10900-10925- I raised an alarm saying all is not good with such moves & we should be careful- Polarity Reversal - all in my update @22:30 Hrs -4th March2017 - Has the Up -Up & Away started Channel from Magical numbers 9295 - 9592 Confusion as Infosys was also doing the same in the middle of the March 2017 - how I predicted that Infosys going for a big fall from 1040-1045 (Read All Infosys Connecting pieces in my profile page) - which was evident with low registered on 13th April2017 below 930. What Next? The channel bottom should support along with critical level if CNX IT has to be bullish else it can be a bigger problem for the IT index.
NSE:CNXITLong
by WaveTalks
6
Nifty ITIT industry has been in a bearish tone forming lower high - lower low since Q2-2015. The industry is under pressure with margins and visas followed by blow of Rupee appreciation. For short term, 9,880-9,900 stands to be crucial support. The reverse Bullish AB=CD around 9,900 at rising trend line indicates reversal on cards. As per time analysis, the previous rise and fall took 55 trading days and if go by "history repeats itself", the reversal can take place on 25th April (+/- 2 trading days). RSI is back in an oversold territory. TCS will be releasing results today which has weight age of ~45% in IT index will be important to watch. The above view on IT index will negate on a close below 9,800.
NSE:CNXITLong
by bbrijesh
2
CNX IT - Game of 9295 or 9592 - How Support was created- MagicIt all started with the equation W=Y=Z & CNXIT started its upmove from 9295 as discussed in below update. Made a high at 10590 & Sell Setup was generated below the rising trendline as discussed below Got the magical support 9592 - ( from lowest point 9295-Initial 2 figures 92 was pushed next & 95 was brought in front)- Isn't that amazing- CNX IT starts the Up-Up & Away Journey. Finally, it was doing choppy & suspicious move in the zone 10790-10800's -it made a high of 10925 & dropped after 6 weeks it has landed on the top channel Trading Strategy Holding Top channel as support - we shall look for a bounce or 9592 - which will be critical support.
NSE:CNXITLong
by WaveTalks
Trader's Queries - Trading Psychology Part - 3Doing paper trade before and after you become a trader is completely different. Before you become a trader, you dont know about fear, greed and maximum draw down for your trading strategy( Draw down is the loss of your capital after a series of losing trades). You have a trade set up and you test it by paper trading. After becoming a trader you know how you feel after profit/loss. You know how powerful fear and greed is. And you know that you have not tested your trading strategy's maximum draw down. Doing paper trade after becoming a trader may be because of not following your trading plan properly. You may think your trading plan is wrong and you want to find some other suitable trading plan. The real thing is your mind dont know how to handle fear or greed. You should feel confident to overcome fear and greed. You have to find you strength and weakness in trading. You are the only one who can find it. Nobody can find it for you. Some people will be good in trade using pivot levels, fibonacci levels or in finding divergence in indicators or pattern finding etc. You cant become master in all. But once when you are clear about your strength you can control your fear and greed. It wont happen in a single day. And the whole process takes time depending on your hard work. PS : I am always fascinated in oberserving human behaviour and mind. And share market reflects human mind set.
NSE:CNXITEducation
by vanathi
15
Trader's Queries - Trading psychology Part - 2Today we are going to discuss 1. How emotions affect our trading? 2. How to take control of our emotions during trade? Apart from our trading plan our emotions are important for trading. We have a trade set up, we enter the trade when price moves as per our trading set up. For example we enter a trade at the price 400 with 395 as stoploss. Price reaches 405, we are happy. we multiply the profit with the no of shares we bought. We imagine how to spend that money. Then the price falls to 395.5. We are desperate.We feel sad. Then the price starts to move steadily and reach our target. Now we are happy once again. If this trade take hours to complete imagine how long we felt happy, sad, desperate? Some of us close the trade when the price reaches 395.5. Then after seeing price hitting target we think why we close our trade before it hit the stoploss. Now comes the questionn how to control our emotions. We can do meditation.We can do our work with concentration. Or we can understand the simple logic behind trading. After entering the trade price action takes control and we have to just watch whether it hits target or stoploss. Why to worry for a thing which is not in our control and what use in it? For example if a heart surgeon start to imagine whether the patient will survive the surgery, whether surgery would be successful, will I do the surgery perfectly during a critical surgery means, imagine the outcome. It will be a disaster. Another thing is we relate trade with money.Instead of thinking 5 pts stoploss 10 pts target, we think 1000 rs loss, 3000 rs profit. When we think interms of money we can not succeed. Avoid negative people around you. And be true to yourself. Just calculate how many hours we spend for trading. 6.15 hrs is our trading time. In that we use whatsapp 30 mins, we chat with others 30 mins, we tell others I got this much profit/loss for 30 mins, we analyse whether others are successfully making money for 30 mins, we take rest 30 mins, we check mails 30 mins(All data are imaginary). After doing all thesethings we do trading. This is cheating ourselves. To be true to ourselves we should focus on trading rather than people around us.
NSE:CNXIT
by vanathi
14
NIFTY IT: Divergence WitnessedDear Readers, In my previous post on CNXIT, "NIFTY IT : Will It Join The Bear Rally?", the link to which has been attached with this post, it was expected that it would complete its southward movement started from 12908.10 at the end of January or the first week of February of this year, considering the intermediate corrective movement, which started from 9295.25, got completed at or around 10350. However, the intermediate corrective movement in CNXIT got extended, which seems to have completed at previous day's top. Yesterday CNXIT not only touched the upper resistance line of the channel line, as shown in the chart, but also breached it by minor points and settling below the same resistance line. The same resistance line shall not be breached on closing basis. Besides, today's sharp fall have created a divergence in the same and given rise to the possibility of the start of the southward movement. Disclaimer: All views, charts, comments, post or any materials of any kind discussed, published, posted and/or commented are for educational purpose only.
NSE:CNXITShort
by sgor1980
Trader's Queries : How to learn trading?An important query from the traders to me is how to learn trading? Is there any course or books available? Courses I dont know. Books I can refer a few. Technical Analysis Explained by Martin Pring. A Complete guide to volume price analysis by Anna Coulling. Japanese candlestick charting techniques by Steve Nison. After reading these books, when reading the ideas in trading view we can relate what we studied in the book with charts. In any profession, we can achieve what we want when we are passionate about it. And trading needs more passionate efforts. Learning, studying, analysing charts, training your eyes and brain to find patterns, training your mind to be balanced needs consistent efforts. It wont come in a single day. It takes time. When you trade using your hard earned money, you automatically take more efforts to be an efficient trader. I always have this thought in my mind. "I am from the society where people are illeterate about trading and they view it as gambling. If I waste a single second in my life with out learning about trading, it makes them easy to seal me as a gambler". This thought motivates me always. What motivates you?
NSE:CNXITEducation
by vanathi
35
CNXIT - Has the Up -Up & Away Started@9500-9600 ZoneTotal gain was 1200-1300 points from last session The move from 9295 to 10590 looks like an initial impulsive upside push has completed & later move from 10590 (Critical Level) -it was some complex structure which could have completed the corrective sequence at recent lows@9592 or part of the correction which will be confirmed once it starts moving above 10590. Trading Strategy Once it starts moving above 10590 -that will be our initial clue to take long position & later on should cross the falling channel & finally sustain above the channel for an explosive move upside. Moving above 10750-10800 zone likely it travels 161.8% of the initial push from 9295 to 10590 which comes in the zone 11700-11800 as the target zone. or if it fails to cross 10550 & sustains below 10400 for a day or 2 then likely this correction becomes a time consuming affair & shall possibly dip again. Review of the last scenario Bang On for the move - sell setup gave 500-600 points move downside & waiting for markets to show us the way next - which indeed jumped from 9590 lows & travelled close to swing highs 10550(Key Level) - almost 700 points more on the upside. You would love to read my previous updates CNXIT - W=Y=Z is the Equation Solved- Another Clue for India Nifty CNX IT - Revist - Sell Setup below Rising Trend Line
NSE:CNXITLong
by WaveTalks
8