DAY PERFORMANCE:
Today Nifty Started flat and could not hold (in fact could not reach) even 1st resistance level and started giving up the gains from 7894 itself. Since, global markets went on correction, our Nifty started breaking its support levels (7820/7780) and created panic to traders. By giving up 116 pts Nifty strait away went for the gap filling level (7725) which was created on 12th August ( Nifty gained 101pts). Today Nifty again reminded us the need of Stop Loss for trades. By expecting this kind of movements only from last 2 sessions, we are alerting about FIIs arbitrage trading possibilities. If you observe on 15th, where our CNX Nifty is in holiday, SGX Nifty gained more than 80 pts and today opened with almost negative points. If you observe keenly, we can understand that; day trading is not child play, its need lot of maturity.
STOCKS FOR DAY:
TATA METALIK: SELL < 140 TRG 133 SL 144
ACTUAL: LOW: 126.65 HIGH: 142.70
HDFCBANK: SELL < 881 TRG 873/860 SL894
ACTUAL: LOW: 855 HIGH: 874 (PLAYED LOW FROM ITS 1ST TRG)
IRBINFRA: BUY > 233 TRG 236 SL 230
ACTUAL: LOW: 226 HIGH: 238.15
LICHSGFIN: BUY > 331 TRG 342 SL 323 (may need to hold for a day or two if not hit SL)
ACTUAL: LOW: 323.60 HIGH: 334.90 (MAY NEED TO EXTEND SL FOR TOMORROW HOLDING)
We feel all our different experiences has to be pooled to find out the way to improve our day trading gains. You may leave your suggestions in the form of 'DOs & DO't FOR DAY TRADING' through ROARINGSTOCKS@REDIFFMAIL.COM.
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