Price action have to sustain 11430 - 11450 level for the upward move towards 11480, 11520, 11580 and 11620. Bearish below 11400 for the targets 11340, 11280, 11220 and 11180.
Sustaining 29800 - 29860 will push the price towards 30000, 30200, 30460 and 30720. Bearish below 29650 for the targets 29500, 29320, 29200 and 29000.
Query : I am taking very few trades per day. I am trying to take more trades, but i did not get my planned entry. Answer : One of the most asked question is this. Most traders think, if they trade more, they can get more profit. Trading is based on probabilities. If your trading plan has high edge, then it has more chances to reach the targets. My mentor once...
Query : View about NCC Answer : Weekly & daily charts confirm the down trend. If price goes below 86, then it will reach the next support at 81, 76 & 68. Note : Post written as a reply for the query from a regular follower.
Price action is nearing the support at 530 - 535 level.
Query : 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...
Query : I do analysis & plan my trade. But I am not disciplined. I am trying, but still discipline seems tough. What to do? Answer : During the market hours, seeing the live market chart makes us question the analysis we have done earlier. Its human nature to want to be right always. This makes us do irrational decisions in trading. In other words, its the "ego"...
Price is consolidating forming an ascending triangle.
Price moves because of the war between the bulls & bears. Direction is decided by who takes the control. Generally whenever price is nearing support or resistance, the intensity of the war between bulls and bears increase. Therefore price consolidates. I have marked it in yellow rectangle box and that area is known as "price rotation". Still the bear trend have...
This is a classic example for explaining "tails". Price was nearing the support and both buyers & sellers were trying to take control. This was expressed by upper wick & lower wick candles formation. Support was at 462 - 464 levels. Whenever we saw battle between buyers & sellers, we have to wait for few minutes so that we can get trend direction confirmation....
Query : How to find trend direction as I am confused with tails. Answer : Yellow line is the support which turned as resistance, Once the price has broken the support, it becomes resistance. When price was nearing the support, the candles were forming with long upper wick, which indicates more sellers were coming in. Once the support was broken, trend was bearish...
Bearish below 30800 for the targets 30620, 30500, 30360, 30260 and 30000. Bullish above 30920 for the targets 31160, 31400, 31560 and 31720.
Bearish below 11600 for the targets 11520, 11460, 11380 and 11300. Bullish above 11620 for the targets 11660, 11720 and 11780.