Market updates for Intraday

[avad]

had a bit of loss today. ICICI bk falled miserably. I could have sold at a minute profit but greed got the better of me.

Anyways your data is very helpful.

Got a new book today of John murphy.

 

[Uncle-ji]

Thursday, 23-June-2011, Pre-Market 08:40am

Flat to Gap-down opening expected for our markets today;
Whole world is in the red today morning;
Dollar down by 0.08p; BRENT Crude up to about $114.21;
NIFTY support levels today remain at: 5230, 5200 and 5185;
NIFTY resistance levels today are also: 5320, 5350 and 5380;
Weekly inflation figures to be released around noon today;
NIFTY expected to continue range-bound trading today;
Definite chance of breakout middle of the day.

 

[Uncle-ji]

avad> Good to hear that my posts have been helpful to you. Don't worry about that 'bit' of loss as tomorrow will be a new day with new opportunities. Such is the beauty of day-trading. So cheer up and you'll make up

Money management and discipline - these two go hand in hand. Everybody knows the rules but how many play by them? The very fact that you've realised it was greed that pulled you down that day means you are on the right path. Keep going!

 

[Uncle-ji]

Thursday, 23-June-2011, 10:10am

Slight Gap-down opening; Went up immediately; Going up now;
World markets bad; Our market on the line now;
NIFTY around 5280 now; Started around 5270;
Found resistance at 5290; This is under test; 5320 needs to be crossed;
Found support at 5250; More support is at 5230;
Market has positive bias now; However flat trading likely for some time.

 

[avad]

Uncleji, i have another question. How do we select stock which is going to be volatile? i traded icici on tuesday and earned decently as the stock was volatile. But yesterday though the stock was volatile it was not as volatile as i had expected.

 

[Uncle-ji]

Thursday, 23-June-2011, 11:05am

Market positive; In the Green; Going up now;
Bias is positive; Asian markets mixed;
NIFTY around 5305 now; 5320 is the first target;
Found local support at 5280; This and 5260 holding for now;
Downside if 5260 is breached; Market sentiments up;
Upward to sidewise movement likely for some time.

 

[Uncle-ji]

How do we select stock which is going to be volatile? i traded icici on tuesday and earned decently as the stock was volatile. But yesterday though the stock was volatile it was not as volatile as i had expected.

There is no one-and-only method of selecting which one to concentrate on today. Each person has his/her own method. How good or bad that method is can be judged by the person himself based on the earnings he is getting. So, here is what I think is any day trader should do: hunt the internet, do your research and start at some point. Then evaluate and keep upgrading. Help from peers, friends and forums like this are very welcome. You can also take help from various agencies like your brokering house or some paid site after 'due diligence'. But ultimately its your money and its your call. The buck stops there.

About your recent experience I can only say that, unlike normal delivery based trading, in day-trading it is very dangerous to get 'attached' to any one stock. You have to be professional. Take what you have got, get out and look elsewhere. Each day is new and each day has its own opportunities. What was good yesterday may not shine today. So be careful.

Like I said before, the very fact that you are asking questions like this means you are on the right path. Keep going.

 

[Uncle-ji]

Thursday, 23-June-2011, 12:35pm

Market in the green; Going flat now; Bias still positive;
NIFTY recovery happening; Market sentiments up;
NIFTY around 5320 now; Resistance at this level holding;
Next target is 5350 if this is crossed; Downside below 5280;
Market may remain range-bound for some time.

 

[Uncle-ji]

Thursday, 23-June-2011, 2:40pm

Market in the green; Uncertain bias;
Asia closed mixed; Europe in the red;
NIFTY around 5320 now; Going flat;
Range bound trading between 5300-5330 as predicted;
Touched a high of 5330; 5350 next target if NIFTY crosses 5330;
Support of 5300 and 5280 have to be breached for downside;
Market likely to trade sidewise with positive bias;
5350 can be reached today; Careful in last hour...

 

[Uncle-ji]

Friday, 24-June-2011, Pre-Market 08:45am

Gap-up opening and robust trading expected for our markets today;
Asia is in the green today morning;
Dollar down by 0.17p; BRENT Crude down to about $107.26;
NIFTY support levels today are: 5270, 5250 and 5230;
NIFTY resistance levels today are: 5350, 5380 and 5400;
EGOM meeting to consider a hike in fuel prices at 1pm likely today;
Scraping of customs duty on crude may lift market;
NIFTY expected to continue upward journey today;
Low volumes may hinder growth later of the day.