Nifty- Dabba Trading - 8370 Down & 8461 Up to show the way next

Today@18th Jan2017- We expected a pullback from 8450-8460 zones at day high & joined in the bull camp with stop loss below-8400. Unfortunately, it took the stops of 8400 made a marginal low@8397 & bounced back to close at 8417.

What Next?
We shall look for bottom zone 8370-8390 with strict stops under 8370 -one knows going below 8370 Nifty will leak from the Dabba. Or sustained move above 8425 with the day's low as strict stops for long positions.

Within all charts below -one can use the load bar feature(TradingView feature) to know how prices moved in the future from the published view date.

Previous Update- Hello 8370 let it break

코멘트:

21:53 Hrs 18th Jan2017

My broker confirmed that spot 8400 was taken out, but future, it did not & So I am happy to come out at close to 8417- not losing much in Nifty trade which was a marginal Intraday loss of 7-9 points.

액티브 트레이드:

13:31 Hrs 19th Jan2017

Analysis is done on Spot/cash data

Last Price@8430

Day High@8440

With strict stops above 8440 -once the rising trendline gets broken or pullback close of day high -we shall look to sell for target zone 8380-8390

액티브 트레이드:

15:11 Hrs 19th Jan2017

Last price@8434

It is always important to trail your stops at cost when your trade starts moving in your favour so that you do not lose any points -if you don't take any profits -that is risk management which one should learn