FM announcement on Friday took the markets sharply up which noone had expected. But if play the trend then you can make such profits. Believe in your system of trading and you will make money. Our clients went long in Bank Nifty Futures at 27002 after quitting their shorts. Half they booked profit with 250 points and balance they are still holding. The week gone by has given one of the best returns in a week. On a capital of 10 lakh, if they traded in 240 BNF, they have made more than Rs. 4 lakh intraday. This is the power of intraday trading.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 73% of stocks which are above support and 27% stocks are below support. 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. This percentage when comes below 10%, we consider the markets as quite oversold and when it is above 90% as quite overbought. Today if there is a rally in the market and advance decline is positive then percentage support will again come up above 50% and then it will be a buy.
For personal consultancy on Nifty, Banknifty or Stocks you may email to neera@crnindia.com
In case you wish to give some suggestion you may go to the blog and give your feedback there on the contact form.
Thanks.
neera@crnindia.com
Disclaimer: Trading is risky and their is every chance of losing all your money.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 73% of stocks which are above support and 27% stocks are below support. 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. This percentage when comes below 10%, we consider the markets as quite oversold and when it is above 90% as quite overbought. Today if there is a rally in the market and advance decline is positive then percentage support will again come up above 50% and then it will be a buy.
For personal consultancy on Nifty, Banknifty or Stocks you may email to neera@crnindia.com
In case you wish to give some suggestion you may go to the blog and give your feedback there on the contact form.
Thanks.
neera@crnindia.com
Disclaimer: Trading is risky and their is every chance of losing all your money.
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