Nifty - Weekly Expiry Ending 06th June 2024
Diupdate
Last week was an SL. Let's see this week. I slightly modified the bullish channel to accomodate latest high and low swings. Nifty clearly broke down below channel mid. Hence, I will wait for a retracement and go short till channel bottom. Thank you!
PS: Please avoid getting influenced by news, media hype, so called mega events. Market already price every known incident, means what you know is known to everyone and hence it's included in the price. So, the chart will itself tell you whether it will go in your direction or you may hit SL. No random trades, no sentimental trades. Stick to your rule. Stick to your plan. Thank you!
-------------------------------------------------------
INSIGHTS:
-------------------------------------------------------
As usual, I will keep sharing my insights which are based on my personal experience in trading.
1. Please stop watching foreign markets, it won't help but will corrupt your viewpoint and ultimately you will either lose an opportunity or make a loss.
2. Market will not keep taking SL again and again, it has to decide a trend after some time. But if it takes 2-3 SL, just stop and wait for another opportunity.
3. In case you have 2-3 SL hits, immediately stop looking at market, leave your computer, watch some movies or go some place with family or do any other leisure activities, but just get the market out of your head, believe me it helps a lot.
4. If there is a SL, DO NOT THINK TWICE, JUST EXIT, IT IS JUST 20-30 POINTS, you will be getting 100 - 300 points in another trade if you simply take SL this time without thinking twice. But if you show ego to market or think that let me watch for some time, you will definitely regret it. Sometimes you may be right, but that will be just pure luck and gambling.
5. Trade with long term view point, even if you are initiating an intraday, have a weekly viewpoint, so that you will have conviction to either carry forward or just exit if you are not convinced.
PS: Please avoid getting influenced by news, media hype, so called mega events. Market already price every known incident, means what you know is known to everyone and hence it's included in the price. So, the chart will itself tell you whether it will go in your direction or you may hit SL. No random trades, no sentimental trades. Stick to your rule. Stick to your plan. Thank you!
-------------------------------------------------------
INSIGHTS:
-------------------------------------------------------
As usual, I will keep sharing my insights which are based on my personal experience in trading.
1. Please stop watching foreign markets, it won't help but will corrupt your viewpoint and ultimately you will either lose an opportunity or make a loss.
2. Market will not keep taking SL again and again, it has to decide a trend after some time. But if it takes 2-3 SL, just stop and wait for another opportunity.
3. In case you have 2-3 SL hits, immediately stop looking at market, leave your computer, watch some movies or go some place with family or do any other leisure activities, but just get the market out of your head, believe me it helps a lot.
4. If there is a SL, DO NOT THINK TWICE, JUST EXIT, IT IS JUST 20-30 POINTS, you will be getting 100 - 300 points in another trade if you simply take SL this time without thinking twice. But if you show ego to market or think that let me watch for some time, you will definitely regret it. Sometimes you may be right, but that will be just pure luck and gambling.
5. Trade with long term view point, even if you are initiating an intraday, have a weekly viewpoint, so that you will have conviction to either carry forward or just exit if you are not convinced.
Order dibatalkan
Setup void due to gap up. Since nifty is trading above the trend line channel, a new setup will be needed for next week. Be patient. No hurry in taking trades. Let the market settle and we can clearly see what setup to follow. Thank you!
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.