It gives me immense pleasure when I receive than you mails from my clients / readers. Yes, last week I received a lot of messages after all my readers / clients have earned both on short-side and long-side.
What for Monday 16th February 2015 and the coming week: Nifty has played a lot in the last 2 weeks. No range trading seen in the last 2 weeks. Yes our readers has earned a lot both short-side and long-side. Now 61.8% level reached in long side fibonacci retracement. Do you feel trend play will continue??
If you are thinking like that, you are 101% WRONG. Now the trend is….. UP. Why UP. No AAP. Its only UP as the stochastics is still on buy mode. Yes after my last mail when every body was selling heavily in the market because of the defeat of BJP in Delhi, I told you clearly to buy the market.
I do not believe in news, I dont believe in politics. I believe is technicals. And sadly for the news lovers, news follows the chart. So if you want to be a news maker, learn to read the chart. Now, the trading strategy will be as long as the stochastics is in buy mode, forget positional now. Buy in intraday dips, and sell on rallies. This is the art of range trading. This strategy will work till the stochastics reaches the overbought zone. If you have 2 days multiplies by 50 points, its 100 point for you.
And and and, if you listen to my little advice, no aggressive shorting please till the daily stochastics is in BUY mode. You can not make up the market by any aggressiveness. Just follow the trend. If you want to exactly time the market listen to the trend, and follow it.
I have a training on this little awareness where people can learn to use charting platforms and master both range trading and trend trading. You can check my training package here.
Few stocks you can consider buying in next week. TTKPRESTIG is a stock that TTTB Trading System has found out in my last scan, CMP 3419.10, BUY BUY BUY in any dips to 3390-3380, put an SL below 3350 and go for targets 3485-3515. If now can decisively close above 3490 with volumes We will see non stop rally to 3595.
In MCX, Silver future is a buy. Try to buy near support of 37746 and resistance will be faced around 39000 levels. Gold future trend is not clear. Support is around 26668. If can maintain above this level in intraday basis in next 2 sessions, 101% 27000+ levels are waiting.
Indrajit is a professional blogger and trading system developer. Amibroker expert, WordPress expert, SEO expert and stock market analyst.Trading since 2002, he has started the journey of StockManiacs.net on 2008. He follows Indian and world stock markets closely.