The market was very choppy in the morning and every one were expecting it will fall further...But it didn't happen.,instead the Nifty index shot up sharply.(Actually Gave a Chance in between to cover/close shorts around 5070 level.,if one would have sold 5100 and above levels.)The graph shown above is witnessing the same.
Today NIFTY closes at 5147.95 (1.60% up).
This is the highest closing of 52 weeks.
==============================
open- 5057.10
high- 5162.80
low- 5057.10
close- 5147.95
****************
The global cue's seems to be Negative and let us wait for the world market trade today(tonight),especially Asian market.Since the market today closes in a higher level the DEMA is raised and that indicates Gap Up opening is very much possible.
---------------------
Pivot-5119.80
S1 -5087.05
S2-5026.15
R1-5180.70
R2-5213.45
20DMA-5058
-------------------
My personal view is --> Be a witness for tomorrow market and trade with extra caution. or Avoid short. Those who are in long can book partial profit to minimise your risk.
option -1
if the market opens in a Gap Up > exit all your longs,because any time the correction is expected (as per many experts of the world predicted the markets are matured enough for a big fall/correction.)so keep this in your mind and do not be a aggressive trader.
option-2
if there is a Gap Down > Cover all your shorts and be a witness.
Do not Jump /Rush for a fresh shorts...Let the trend decides unto itself and come to an end,from where we can plan a cool trade.
Tips for a Good trader
There are many traders, they simply have the habit of trading in all markets...,what ever the market situation the markets are in.(worst/best/choppy) This habit many times lead them to the wrong path and need to fight against the flow/current/trend.
Be a persistent Trader
What i am here trying to say / point out unto you is :-
Just keep awake yourself about the present market trend , be a observer for a while..Nothing wrong being patient and waiting for the right movement(eg:- How the crane waits to catch a fish in the floating water )when you are calm and confident about the trend make out your decision,that will do. One need not to trade all the times:which is not nessary.when there are few situations like this ,you only have to watch out and remain a witness.i wish don't be the victim of the loss, just be wise and Let this moment pass..hope for the better and better opportunity.This is what the quality's of the succesful trader.
Wish you a happy trading.
....Will update further in the Morning (9th,dec).
No comments:
Post a Comment