Manoj's Trading Diary

[manojborle]

Mock trading results till now :rofl::lol::rofl:

 

[arcus]

Nice. You made almost 3 lakh profit today

You are hereby awarded the best mock trader award.

 

[manishchan]

Nice. You made almost 3 lakh profit today

You are hereby awarded the best mock trader award.

Me too me too.. I made 6 lakhs..

 

[arcus]

Me too me too.. I made 6 lakhs..

Ok Sir. I'll have to snatch that award back and give it to you then.

 

[manojborle]

:rofl::rofl::rofl:

 

[Option.Trader]

Yes, But the more important US index is the S&P 500 because it has millions of contracts linked to it and is the biggest ETF in the world linked to it. (Nifty for us is like S&P 500 for them and Sensex for us is like Dow Jones for them in importance)

The S&P 500, the DAX, the FTSE, the EUR-USD, the USD-JPY, the AUD-USD, the US 10 year bonds everything point in one direction (away from risk) and that is very rare.

By the way, I get to know the international markets news from DailyFX news on youtube.

Here is yesterdays summary (they cover US & Europe Markets) - https://www.youtube.com/watch?v=pV7PEIYHc0g

You need to know some economics to understand their news but it is very in depth and I like it.

Onerous, the last time you predicted, I think it fell by 600 odd points, but you had based it on technicals then. any chart reading thoughts based on fibo, macd as earlier?

 

[arcus]

Onerous, the last time you predicted, I think it fell by 600 odd points, but you had based it on technicals then. any chart reading thoughts based on fibo, macd as earlier?

Unfortunately there is no evidence yet of a correction technically from the Indian markets.

We are very close to the all time high and for all practical purposes we are still very strongly in a bull market.

However, my evidence comes from extreme bearish signals from the international markets and my reasoning is that since FII's are the major movers of the market, they will undoubtedly sell if the US/Europe markets go down.

Another very important thing is that after many years, QE will completely end this month, so that is bearish for stocks.

So basically, it is based on indirect reasoning.

If you want to be sure, you'll have to wait for the break in 7450 on the Nifty which is still very far away.

As I said earlier, I am 80% sure and that is good enough for me to buy some OTM December Puts.

 

[manojborle]

 

[manojborle]

 

[manojborle]