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Hi,
ReplyDeleteDont you think that since the US markets have had a huge rally on friday, our markets might also go up, even though your bank nifty and ICICI bank might be showing technical weakness?
Suppose our markets open up above 12340(bank nifty) which is your SAR then your call is negated? And if this happens what could be the future target of the bank nifty and the subsequent SAR for long?
Hope i did not confuse you!!
Just to mention that i am not trading but only learning TA so that i am more confident of it!
Thanks
Shazia
Thanks
Hi Shazia
ReplyDeleteOn Friday Banknifty sar was triggered and it just went 10 points below SAR for longs(12100) in early morning trade and went up sharply.
If someone was trading by those levels he/she should be short by now.SAR(12340) is for those who are short.
It all depends how one manages the position.If it rises above 12340 I will update the levels by Monday evening...most likely stop will be Friday's low 12090 or above.
"Stop losses are necessary evil"
You cannot trade without them and they always will take you out of markets at the worst point
(worst exit level)
Therefore the answer to this paradox lies in trade management.If you trades multiple contracts you can plan your trades in a better way.Always average a winning trade and never average your losing trade.People generally tend to do the opposite to prove to themselves and to the world that they are right and markets are wrong.
Therefore the "money management plan" was conceptualized thanks to you and Manoj.
hi
ReplyDeleteThanks for your comment!
indeed the stop losses are necessary evils.. so true!
Thanks again
Shazia
Good Morning Anuj!
ReplyDeleteGood Afternoon r m
ReplyDeleteDear Sir
ReplyDeleteBank nifty spot below d SAR level can i short now ? what is a SL?
@ Vijay
ReplyDeleteHi...I received your messages about bank nifty SAR.
Levels given above are for Bank Nifty futures for this month's contract...Currently Bank nifty traders should have a bullish bias as SAR (for short trade was breached in the morning)
I will update the levels for tomorrow in some time.
I am mostly not available during intraday trades.