Now a day everyone is talking about the importance of 5170. I am sure that I have given you this figure well in advance to stay ahead that others. Now is it so import to discuss about 5170? I can update you few more things later.
This week is going to be full of event and the worse part is that we have only three trading sessions to trade. I cannot count muhurat trading as trading day. Trading might not be easy for this week. We have seen constant wild opening in stock market in past few days and I am sure those has troubled you a lot. Even I have reduced my number of trades. I always said, "wait for the opportunity to trade and never try to pull opportunity".
One gentleman asked me what should he do after 80-90 points of gap up or gap down? Well, its very simple. Make a holiday or just watch the market. Is it not better than loosing money? Do not forget that stock market wants you to loose money at every step and its your duty to save your money and make money at right opportunity.
In such wild day's, I just follow my basis. I kept on doing right things based on technical charts. Sooner or later result will come in favour of me only. You do not believe me? Look at LT. Stock crashed up to 1325 even when Nifty was at 5100. It will see another round of sharp selling this week. I traded few short on this stock.
I must admit that current year is one of the toughest for traders. If you are unable to make money to good extent then do not get dishearted. This market is in toughest phase. Trend will be smooth sooner. Wait for some good opportunity ahead which will comes later this week.
