Learning to catch High Probability Breakouts

[amitrandive]

Entire market in a selling/profit booking wave by FII's
Comparison of the main Indices. Nifty,BankNifty,CNXMidcap,CNXSmallCap,JuniorNifty ,the price pattern is similar in all the indices.

 

[amitrandive]

Open Interest Basics


Daily Chart of Nifty Futures

A very mild and sideways day for Nifty yesterday.
A look at the futures data OI indicated a bearish picture yesterday.

 

[amitrandive]

ST Sir on habits of Successful Traders
http://www.traderji.com/day-trading/98402-successful-daytraders.html#post1070958

1) Play a very strong defence...LOOSE LESS....but in profit, try to maximise the gains..in loss, get out fast.

2) Trade trending and sideways markets differently....make more in trends, loose less in sideways if you are a trend trader.

3) Initially traders do not give more importance to MM but as we move further, MM is very important.

4) Dont mixup timeframes and trading objectives. For example someone may be buying for position trading for next 2-3 years hold but that should not affect short term trading...he has to trade short term from a short side and not buy and hold the loosing positions.Market may turn some day but that is no reason to buy when it is trending down in short term trading.

5) Consistancy is more important than sudden flash of high profit/high risk trades.

6) Dont predict the markets...align with them.

7) Hard work and discipline is of course important. One does not need a holy grail to be successful.

All the above are known to all I am sure...

Smart_trade

 

[sunny_cool]

WW on Nifty 15 mins

 

[sunny_cool]

Lets see how it goes tomorrow... till now going good

WW on Nifty 15 mins

 

[amitrandive]

 

[amitrandive]

 

[amitrandive]

CNX NIFTY JUNIOR


Daily Chart of CNXNIFTY JUNIOR

Weekly trendlines/support resistance lines =Blue
Daily trendlines/support resistance lines =Yellow


CNX NIFTY JUNIOR Index crashing by 500 points ,i.e 2.6% today.

 

[amitrandive]

Spot BankNifty


Daily Chart of Spot BankNifty

Weekly trendlines/support resistance lines =Blue
Daily trendlines/support resistance lines =Yellow

Bank Nifty crashing by 420 + points today , i.e by 2.4%.

 

[Rish]

Nifty today almost validated 8003.80. Worst case it may hit 7905 and not beyond as such now.

The above levels are to share information and not a trading call.

:thumb::thumb::thumb: