Tomorrow Correction May Continue

Good evening, wish you happy trading session tomorrow.

Key Support-Resistance level of Nifty Future

§  First resistance of Nifty Future is 8994.05

§  First  support is 8635.05

§  Crucial support is 8609.

06:26  pm, 17^th March, 2020

Nifty Intraday Tips

Key Support-Resistance level of Nifty Future

·        Vital resistance  of Nifty Future  is 12060.35;

·        If Nifty Future start to trade above 12082.45, then the index may try to cross recent high 12174.90.

·        Below 11802.85 crucial support of Nifty Future are 11786.

How to Grow RICH

Prospect of a novice:

(At right side column (near bottom) you will find translate option, please do select your prefer language to make reading more easy.)

Stock market is a place of easy money, let’s try it and become richly rich (which in short term).

Perhaps you are agreeing to give time to build your BODY, but you have not patience to build your FORTUNE.

New comer’s common mistakes:

A new comers thinking about the Stock Market:

= Market is very confusing, and tough to enter a trade.

After a small period what he/she does?

= After small number of losing trade, he/she think lets follow the  rumors or follow baseless TV channels discussion.

After couple of weeks passed:

= Let’s try INTRADAY  (FNO), but overall result is Nil.

After couples of months (already loosed a big part of capital):

= start to follow chart 

 and data to be an ANALYST.

After one or two years what happened?

=Nothing……….the account is NIL….

Then what to do? Quit?

NEVER.

Just follow these two rules.

Rule No. 1: Never repeat your past doings and forgot the fear of losing.

Rule No. 2: Never forgot rule no. 1.

What is the way of start again?

Before more discussion, I would like to share my stories.

My experiences are not differing than others. At early 2002 (mid of February) I entered this market with some money (aprx. 19.63 lac) and zero experience.

From 2002 to 2008 I was fighting for existence at market, as usual result was not positive.

The recession of 2008 {when Nifty Future toped at 6336 (on 09.01.2008) and bottomed at 2228 (on 27.10.2008)} has changed my whole life.

Then I lost everything……..My portfolio was smashed…..I was finished.

But I never QUIT.

After five months, the recession was over (around March’2009) I re-enter the Market with small capital (35 k, it was tough to me to collect more capital on that days).

Till today from re-enter day I have updated myself at every second.

All of you know (those are in touch with my Blog-FB-Twitter-LinkedIn) that how much perfect is my market prediction (with zero tolerance).

Just now I am working with time factor (near to complete).

From 17+ years of experiences I can suggest that Investing is the only way to change your destiny, rather than intraday trading.

I have recovered all losses with multiple numbers of profits.

Now the WAY:-

Simple,

a)      Avoid day trading; I am NOT suggesting investing for 15 to 20 years. In maximum case between these types of long periods the specific stock will toped several times.

              That means you will loss the chance of get profit at whole.

b)      Pick right stock and first predict the possible time frame and price factor. It may be mid-term (in months), may be small time (in weeks) and at tiny frame (in days).

Examples: from my own trade:

Mid-term: October’2017 I have purchased the stock of Reliance Industries (@Rs. 844). 3^rd May’2019 the stock made high 1417.50.

I have booked all the shares @ 1392. Price increased 65% from my buy value. The stock may bottom below 1123 at coming days.

Short Term: On 15^th February’19   bought stock of ICICI Bank @342. At 28^th May made high 439.20. Increased by 28%.

Tiny Term: 3^rd May I have bought stocks of UPL @959. On 27^th May this stock made high 1043.75. Increased by 9%.

c)       Make your portfolio small (number of companies).

Preface:

Investment in stock market is a business, this is not a gambling. Therefore before investing do prepare your mind.

If possible, do discuss with any well experienced investor or your Investment Guru.