trading futures on technical analysis with toocool

[toocool]

My observation is State bank is better proxy for nifty. You can compare charts

please post your comparison here

 

[toocool]

double bottom and 61.8% on monthly charts should give good upside in coming months

so syndicate bank seems to have started the uptrend /breakout process , bought very normal qty of 1000 @78 in delivery and its now at 88 rs after some see saw

 

[toocool]

not expecting 6030 to break on closing basis , holding no position because i cannot be short in an uptrending market , as of now its a small consolidation happening in prices and not yet a downturn

so even though it turned out almost exactly what i anticipated ,still i didnt get any position in nifty because i am long reliance , as a trader i take only position in any stock or index , and i was bullish on reliance as well as nifty , but reliance seems have some more time to go up ,but thats okay , i am not hugely disappointed with myself , one cannot punish himself for the decision taken , just learn from it , do not beat yourself ,it will negatively impact the overall healthy psychology , also reliance is not looking to go down still , its just lackluster , lets see what happens

 

[toocool]

its not looking good , maybe it wont reach the target but things stand bearish as of today though i have my doubts on bearish outlook but that's the market for you

 

[RavishReport]

its not looking good , maybe it wont reach the target but things stand bearish as of today though i have my doubts on bearish outlook but that's the market for you

You are right market at tricky stage, showing something else to do something else.

 

[toocool]

its not looking good , maybe it wont reach the target but things stand bearish as of today though i have my doubts on bearish outlook but that's the market for you

even though i was perfectly right in my analysis but since i had invested in reliance i couldnt capitalize in nifty trades , not that i will loose in reliance infact even reliance will give me good returns when it will, but i certainly lost opportunities in nifty upto 300-400 points minimum , i have now realized that now the time has come to increase my capital , and not ever stop trading in nifty , and whenever i see 2nd opportunity i should invest in big qty delivery based buying because even if it remains laggard for some period of time i would still not be worried in near term ,and whenever it will give gains i could book out at my own conveniences , so now my aim is to gather the extra capital and hope to soon achieve it

 

[toocool]

the final run to new highs has started i believe

 

[toocool]

i truly believe that today's fall was an opportunity for those who couldn't buy before for some reasons , the trend remains up , only thing is that traders must have insurance of stop loss of some 70-80 points from today's lows , and that's it

 

[toocool]

markets closing below 6030 will be bearish otherwise uptrend remains intact

 

[toocool]

explanation (technical) will come later but i am long in the markets right now