Bulls, Bears & The Lion

[findvikas]

I am myself very new to Forex trading and never traded it apart from DEMO accounts.
yes Forex trading is based on pips or decimals... brokerage is also in pips and not in %

I am trading from Oanda which is US based.. yes its 24x5 and I will be trading mostly in North America timings... (7:30pm-4:30am IST)

 

[trade4putuval]

Hi Vikas,

Sorry to interrupt!
Can you tell me if a breakout is in view, because nifty seems to return back to 4990 everytime. It looks like a resistance of 4990 is held by the market. But I feel there could be a breakout, but since I dont have any tools I am not able to judge if we are in for a breakdown or breakout.

Rajiv

 

[findvikas]

Breakout from what?

Patience and follow these levels buddy don't rush to catch the bus

Short @ 5006 , Avg till 5016 and SL at 5023 , Go long at 5023 if it sustains.
Long @ 4970 , Avg. till 4963 and SL at 4953 , Go short at 4953 if it breaks and sustain.

 

[amitiemcal]

hi vikas,
i took ril 1005 pa at 19 wats ur take exit or hold till expiry also i can hold

 

[trade4putuval]

Breakout from what?

Patience and follow these levels buddy don't rush to catch the bus

I already missed the CE bus, so not feeling good!
I am trying to avoid any irresponsible trade just because this feeling lies above my head!! That's one reason I have not placed any orders in my queue.

Rajiv

 

[findvikas]

I think you can hold on to it, NIFTY is trading above 27 Nov's lows while RIL has breached 27 Nov's lows and trading below the closing mark of 27 nov. so now the next major support will come only @ 975-980.. while your breakeven comes at 986.

ADX suggesting a change in trend with +DI turning down and -DI moving up... this suggests more selling.

 

[findvikas]

If you are not feeling good then have some break from trading.. stop watching the screen or close the shutter for the day .. it works

 

[findvikas]

hi vikas,
i took ril 1005 pa at 19 wats ur take exit or hold till expiry also i can hold

BTW... it gave you 33 in intraday... why did not you booked it
Remember to always book profit when you can...

 

[findvikas]

Per Kotak's Research Team...

Nifty OI concentration is seen at 5000 put and 5100/5200 call options. Call writing in immediate OTM strikes indicating a negative sentiment. Significant closure of positions is seen in 4900/5000 put options indicate of withdrawal of buying support.

 

[amitiemcal]

arre dude i took it at 19 day open was 33
now can i get my cost overall ril is negative and some news is expected