NIFTY - Test Of 8200 / 8000 Inevitable - 11/4/2016Happy New Year to all. New year has arrived with new opportunities. It is always good to start a new year with profitable note. Our short NIFTY and other selected stocks positions ( via puts of courses ) is well in green and now it looks like the test of solid support levels near 8200 / 8000 is inevitable in coming sessions.
Many of the trades we have outlined here have performed the way sound technical analysis defines the chart geometry. Trading theme is, soggy IT sector, topped out auto and pharma sector, so-so oil sector and healthy but lack of momentum in FMCG sector. Here are some of the trades you can review based on such theme, ( Pls Check the Links )
Dr Reddy
Cipla
Glaxo
Lupin
Infosys
TCS
Wipro
ONGC
Dabur
Grasim
We have warned about sucker rallies in equities and have advised to be patient with a game plan. Armature investors ask wrong questions about what's going to happen and they tend to waste energy in trying to find when a particular security is going to reach 'where they believe it is heading towards'. Nobody can predict the exact timing and where the things are going to be. Only thing which matters is that what you are going to do when the stock reaches to the point you are interested in ! e.g. people ask, when XYZ stock will reach 100? Instead they should be thinking about what they will do when it reaches 100 or 50 or whatever level is defined as good support or resistance.
Let's enjoy the relaxed last weekend of Diwali holidays and get ready for the next week to trade Forex, Commodities and Equities. We are ready with a game plan for the new year, are you?!
