Manual trading requires a great
deal of skill and discipline. It is tempting for the trader to deviate from the
strategy, which usually reduces its performance. When developing a trading
strategy, many things must be considered: return, risk, volatility, timeframe,
style, correlation with the markets, methods, etc. A trading strategy is
governed by a set of rules that do not deviate. Emotional bias is eliminated
because the systems operate within the parameters known by the trader.
Good Morning and Happy Trading.
Tomorrow is RBI’s Quarterly
Monetary Policy Announcement.
In its bid to rein in
inflation, the Reserve Bank hiked key policy rates 13 times, totaling 350 basis
points, between March 2010 and October 2011. The industry has been demanding
rate cut by RBI to promote growth.
Trade today very
Cautiously……………
1st
hurdle for the day is 5136 to 5145. If Nifty Future starts to trade above this
resistance level then ….
Very
vital resistance will be 5180 …
If
able to cross and stay at least 45 minutes above 5181 then next tough
resistance will be 5213.
Today’s
1st support is 5092, and that will be very vital for whole day
trading. Below 5092 the next support is 5056.
Below
5056 …..
………..next
support for the day is 5028 ---5001…
If
break 5000 level and stay below this level then very vital support is 4995---4986—4979—4955.
Last one hour of trading is vital
today………..
More reversal points for our
subscribers only.
05:51 AM 07.30.2012
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