Tag Archives: Idbi

Nifty Weekly Technical Outlook for 20 Apr’15

It’s all about Analysis???

Most of the hardcore traders starts their day with preparation, they prepared themselves in advance with action plan for some probable scenarios (if you don’t fall in this category, then I would suggest follow this rule strictly). Even I start my day with work done last night, and most of the time I go right and feel proud of myself. Now, you must be thinking that I am applauding myself, right??? No, I am not. The point I am trying to make is even after going right on analysis part, I am losing on my trades. Now, you must be thinking how it is possible? Let me come directly to the point, last week in the beginning itself I was anticipating that Nifty is likely to find resistance near 8850-8900 levels, and which I had already shared here, however, when Nifty made a high of 8844.80 I was anticipating further rise, may be gain of couple of more points, but eventually Nifty gave up all the gains on same day and closed significantly lower. Now, the bull inside me stopped me to look real picture, and still I thought maybe it is just one day, you might see some recovery tomorrow, but it did not materialized and now we are standing at 8606 levels. By sharing this thought, I am trying to make a point that, it is not just analysis; it is also your mindset which plays vital role to make you a good trader. Let’s check the current health of the market and how to remain more vigilant and objective to get best out of the market.

weekly technical analysis 20 Apr'15

 

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