Yesterday the Indian Stock Markets had a very good rally which was as expected and mentioned by us. In fact we were eagerly waiting for this rally and good that our trial paper trading clients and others bought intraday Bank Nifty, Nifty etc. This was their first trade in Bank Nifty.
We will put a track record of Bank Nifty Paper trades here for a month for our trial clients and others to see the performance. For our track records we take positions in 240 BNF and accordingly loss & profit is calculated. We do profit booking in half our positions at the targets and balance half we hold till the trend remains
Bought 240 BNF at 27950. Half quit at 1st target of 28200. Profit 30000 and balance we are holding on. Whatsapp messages were sent accordingly. So traders who are taking paper trading trial can compare the above messages. (we are not adding brokerage for paper trading)
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently they are just 21% of stocks which are above support and 79% stocks are below support. So yesterday some cash stocks did quite well from deep oversold levels. When stocks above support are below 50% we consider cash stocks to be in downtrend and above 50% we consider cash stocks to be in uptrend. Just for your information the cash stocks percentage has been below 50% for majority of the time in last 4 months. This percentage when comes below 10%, we consider the markets as quite oversold and when it is above 90% as quite overbought. Here we also have to see the broad trend of US markets.
In case you wish to give some suggestion you may go to the blog and give your feedback there on the contact form.
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