Discipline is directly related to the bottom line of a trader’s account. The Professional Trader keeps a high focus on being disciplined and sticking to his system. He disciplines himself by constantly having the thought of making money and being positive at the end of the month in the forefront of his mind. This way he keeps himself from getting caught in the now emotional moment. He stays on the sidelines when the timing is wrong to enter a trade and always places stops while trading. He moves his stops up as the market moves in his direction, acts as he is supposed to by seizing the right opportunities as they present themselves. He also stays within his risk to reward parameters.
RIL is trading in a parallel channel trading between 811-870 levels.Stock the having the most weightage on Nifty and technically looking strong as now its trading above its 100 DMA.
Stock looks rip to move above 870-900 once its start trading above 845.
Buy above 845 TGt 852,864 and 870
Above 870 it will show a sharp upmove till 888 and 900
ICICI bank as I told will slide below 900. Stock never gave a chance to enter as it opened below 900 and traded most of day below that levels. Looking at strength in Nifty and ICICI closing above its 50SMA@875 give a good trade to be taken on long side with a SL of 870.
Buy above 878 Tgt 886,895 and 903
Sell below 870 Tgt 860 and 853
DLF will likely to open gap down today as SEBI to probe its IPO offering and this will led to gap down opening in the stock.Support are at 220 and 206.
Trading strategy should be to see if stock is able to take support at 220 than a bounce back till 224,226 can be accepted.
If 220 gets broken Stock will slide to touch 215,209 206 levels.
Be very quick in executing trades in DLF for Intraday players.
ABAN offshore is near its crucial resistance 41ul4 levels. Volumes were on Higer side yesterday with formation of DOJI candle which means bulls and bears are in state of confusion.
Volume are on higher side yesterday.if it breaks 414-18 range on closing basis it gives breakout from the trading range of 313-413 and will have a minimum target of 510 levels,in short term.
Buy above 414 Tgt 418,427,435 and 448.
If unable to cross 414-18 range shorts can be taken Sl 425 on closing basis from short term perpective Tgt 400,389
u r amaging…….:smile:
Thanks Pratik. Let be as simple as possible.
Hope your exams arre going well.