Skip to main content

Avoid Emotional trading. Avoid revenge Trading.

Nifty fell from 12440 to 9600 level.
Yesterday it broken long term support trendline and closed below it.
Intensity of selloff indicating that, this pain likely to continue further.
Range for the day rose up to 700-800 points in nifty 2000-2500 points in sensex.
Very wild moves, average trader hard to trade.
Below 9700, nifyy next crucial retracement levels are 8700 and below that 7500 level.
Sgx nifty already trading near 8800 Level.

Secure capital first, without it trader can not do anything. 
Normally , average trader takes blind trades in this kind of market. Avoid it. Stay away from market and wait for good opportunity, otherwise, capital loss in the form of stoplosses.
Avoid revenge trading. Its hard to stop falling market single handedly. Wait till negative sentiment to erode and wait some time for  normalcy  in markets.
In 2009 bull phase begun around 2550 level and top made around 12440.
38% retracement level already broken.
50% retracement at 7500.
We shall see whether this panic selling stops at 7500 or not.
Best thing to do in this scenario is, PROTECT REMAINING CAPITAL.

Suryadev Bandari
Research Analyst.

Popular posts from this blog


Exhaustion gap formed. Bulls strength eroded???.

Nifty bounced back strongly on back of Major news announcement of Cut in Corporate Tax on Friday. Today nifty retraced 61.8% of entire fall. As of Now, wave 2 in finishing stages.  More possibility for Wave 3 down to begin any time soon. Hence, Be cautious. Its time to reduce long positions. Profit booking time. From current levels, nifty likely to retest 11000 levels anytime. Short term top made. New highs may not be possible from here. Keep booking profits in long positions. Wave 3 Impulsive Down move can begin any time. Regards, Suryadev Bandari Research Analyst

Triangle formation still in progress. 8900-9200 upward resistance.

Nifty still in a triangle formation and wave e of the triangle is due as per updated pattern. The minimum upside for the short term is 8900-9200. Avoid fresh short selling at this juncture. Pull back rally is due. Supports can be found at 7700-7500. The range is Huge, so risk also high. Private sector Banks also completing triangle like formations in their respective charts. We can see some short term buying in private banks at these lower levels. Trade accordingly. Regards,  Suryadev Bandari Research Analyst