Wednesday, February 21, 2018

Expect a Rally Soon !!! If Support 10350 & 10330 Holds ?

Dear All,


Apart from your analysis, Prediction and expectation - When Market changes its course of movement, When your Stop Loss get hit - How anger you will be. How your anger makes you to manipulate your analysis and make you to more such mistakes with an emotionally wrong entries or exit.

Anger is an emotion that is a great tool for protecting our boundaries and safety. Anger is the internal bodyguard that allows us to protect ourselves from harm in many areas. Anger can stir us up to action to right wrongs and defend our own interests at the right time and place against the right enemy or intruder into our life. However anger is not a useful tool when it is used inappropriately against perceived enemies that do not exist. If a trader truly believes that the market action as a whole is out to get them or that those high frequency traders and market makers are the ones specifically causing them to be unprofitable then they have issues that they need help with. The market does not know we exist, the market as an entity in itself does not exist. The stock market is a composite of all the buyers and sellers taking action simultaneously and the current price is the reality of that collision of decisions. It is the actions of all the hedge fund managers, mutual managers, investors, traders, market makers, and high frequency traders doing battle that creates the price action.

When a Scam hits Banking Sector - which is a Market mover Index, Entire Market changes its of course of movement along with Banking Index. It happens to me after the scam in PNB. Every day News flow about the scam, when it spread to other banks, Blame game from Political Parties, Rating agencies change of Outlook and finally global markets and bond markets.

As a Trader or analyst, its not advisable to take a Revenge trade with anger. Turning on yourself in anger is incredibly self destructive. This is a risk greater than simply losing money; you can come back from financial losses but not from being so anger with your own actions that you lash out against yourself or even worse take out your inner frustration on your family or friends.

Anger is the primary cause of over trading trying to force the market to give us money. Anger can arise when a trader’s goal is blocked by price action. Revenge trading is the result of anger making bad trades in the desperate attempt to force the market to give back money that was previously lost. Anger is one of the worst trading signals any trader can ever use. A trading plan can be a trader’s bodyguard that protects them against angry trades that are triggered by how they feel not a legitimate buy signal. Trade the plan not the anger.

>>> Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Price Should Hold 10300 - 10330 - 10350 for a Healthy Upmove.

>>> Bank Nifty Hourly Chart <<<

>>> Click the chart to see on full screen <<<

Support 24800 Must Hold.

>>> TATASTEEL - Hourly Chart <<<

>>> Click the chart to see on full screen <<<

We are Holding Long and Looking for a Break out above the wedge and Rally. Cheers!!!