Date	Open	High	Low	Close
7-Aug-13	5664	5665	5522	5542
Pivot	S1	S2	S3	S4	R1	R2	R3	R4
5576.333	5488	5433	5345	5290	5630.67	5719.33	5773.67	5862.33
Camerilla	L1	L2	L3	L4	H1	H2	H3	H4
5576.333	5529	5516	5503	5463	5555	5568	5581	5621
		Aug 8 2013
		Pivot	Cam
	Buy	5488	5503
	Sell	5631	5581
	FIBO. RETRACEMENT TABLE
From	To	Fall/ Rise	0.236%	0.38	0.50	0.618%	0.736%	0.80%
5665	5522	143	5,556	5,576	5,594	5,610	5,627	5,636

August 6 2013

Pivot S1 S2 S3 S4 R1 R2 R3 R4 5689 5657 5629 5597 5569 5717 5749 5777 5809   Camerilla L1 L2 L3 L4 H1 H2 H3 H4 5689 5680 5674 5669 5652 5691 5696 5702 5718
FIBO. RETRACEMENT TABLE  From   To   Fall/ Rise  0.236%        0.38        0.50 0.618% 0.736% 0.80% 5721 5661             60    5,675    5,684    5,691    5,698       5,705       5,709

Nifty July 23

Nifty July Futures

Sell at 6102 stop loss of 6080 target of 6050

Nifty

Go Short at 6051 Stop loss at 6070. Target of  6005

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Event Calendar Period : 22nd – 02nd August 2013.

India

• RBI policy meet (30 Jul)
• Jun Fiscal Deficit (31 Jul)
• Jun eight infrastructure industries (25-31 Jul)
• Jul Markit manufacturing PMI (1 Aug)

US
• Jun existing home sales mom (23 Jul)
• Jun durable goods order (25 Jul)
• FOMC rate decision (31 Jul)
• Q2 GDP QoQ (31 Jul)

China
• Jul HSBC manufacturing PMI (24 Jul)
• MNI Jul business sentiment indicator (26 Jul)
• Jun leading index (28-31 Jul)
• Jul manufacturing PMI (1 Aug)

Europe
• Jul PMI manufacturing (24 Jul)
• Jul PMI service (24 Jul)
• Jun Euro-Zone M3 (25 Jul)
• Jun euro-zone unemployment rate (31 Jul)
• ECB announces interest rates (1 Aug)

Nifty July 19 2013

Nifty made low of 6020  and high 6066 ended with 6029

Trading Rules

How to trade intraday in Stock Market
90% of Intraday Trades are losers, Intraday trading without a proper plan and trading system is equivalent to gambling which most of traders get indulged into. Before betting your hard earned money to earn quick returns its always better to know and understand the the fundamentals of intraday trading, if you hope to make money consistently in the market. As i have discussed in my past post the importance of trading psychology, today we will focus on essentials traits required to do Intraday trading successfully.

1. Have Intraday Trading Strategy
Whether you do Business,Job you will always have a plan for accomplishing certain task, You will not blindly trade based on your intuition. Same applies to Intraday trading, You need to have a trading system which can help you to generate a trading plan which will help you in finding the best possible buy or sell price of your shares in today’s market and what will be the target price. You do not have to swayed away by wild swing in the Stocks and let your emotions overpower you.Always have an EXIT strategy.

2. Select and Trade the Right Stocks
Always trade in liquid stocks like SBI, ONGC, Infosys which will make sure you are never stuck up with your positions, try avoid trading in illiquid mid cap stocks in which just a volume of 10000 shares can swing prices wildly.A liquid stock is one, which has a high average trading volumes, so that it can be bought or sold in sufficient quantities without causing much impact on the prices.

3. Avoid unpredictable stocks
Generally it is seen that stocks that are trading with low average daily volumes or stocks where some big news is soon expected, tend to trade in a highly unpredictable manner. Sometimes even after an important announcement — which may be either good or bad (like big order, good results, bad results, plant shutdown etc) — the stock may trade in a chaotic manner. So it is advisable to avoid such chaotic stocks.

Some of the mid caps, and most of the small caps especially those in S, T and Z group are chaotic stocks; better not to trade them from intraday point of view. They also have very low volume thereby increasing their unpredictability. It is advisable to not trade in news driven stocks, because in such stocks the risk associated is much higher and it is often difficult to predict the entry and exit points.

4. Stick with your stop-loss.
The importance of sticking to the stop loss cannot be over-emphasised for day trading. Many traders find it extremely difficult to book a loss and thus take delivery of a stock if its price goes down. What happens in such a scenario is that you have gone against the basic fundamental of day trading by not keeping it an intraday trade. So now you do not know when the stock will recover and if you will be able to exit. By doing so, many traders are forced to keep the stock for the long term and often get stuck with it. Therefore you should always have a stop loss and stick to it.

5. Find stocks that move with the market.
There are a number of stocks in the market which have a great correlation to the movement of the major indices. What this essentially means is that they mirror the movement of the indices. For example if the Nifty is increasing these stocks will also tend to rise and vice versa. This makes it easier to predict the movement of the stock and thus increase your chances of making a profit. So if you aviod trading in Nifty trade in Stocks like RIL,Infy,SBI and ITC which are having high weight age in Index and they will not rise and fall 8-10% on any given day and hence hedging you from excessive volatility in your trading capital.

6. Research
There is no substitute of Hard Work and if you want to be successful intraday trader you need to do lot of Research before taking the trade.

You need to Daily analyses stocks technically prepare a trading plan, to find out a particular stock’s key levels of support and resistance. Is the stock overbought or oversold? Has volume been showing any significant changes?

Also study the fundamentals of the companies and try to know when they declare their quarterly results as we see lot of volatility when results are declared. Studying how a particular stock moves on the day before the result, when the result is announced and after the result helps a day trader understand how the market reacts to results.

7. Follow the Trend, Trend is your Friend
If the market is in an uptrend or in a bull run, it is usually a good idea to stay long. And if the market is looking bearish then either you can short or wait for stocks to hit their bottom before taking a long position.

Intraday trading is a mind game and only the strong survive. But with the guidelines outlined above, it is possible to make money as an intraday trader. Discipline and consistency are the two key words in winning this game.

20 Rules To Stop Losing Money

1. Don't trust others opinions -
It's your money at stake, not theirs. Do your own analysis, regardless of the information source.

2. Don't believe in a company -
Trading is not investment. Remember the numbers and forget the press releases. Leave the American Dream to Peter Lynch.

3. Don't break your rules -
You made them for tough situations, just like the one you're probably in right now.

4. Don't try to get even -
Trading is never a game of catch-up. Every position must stand on its merits. Take your loss with composure, and take the next trade with absolute discipline.

5. Don't trade over your head -
If your last name isn't Buffett or Cramer, don't trade like them. Concentrate on playing the game well, and don't worry about making money.

6. Don't seek the Holy Grail -
There is no secret trading formula, other than solid risk management. So stop looking for it.

7. Don't forget your discipline -
Learning the basics is easy. Most traders fail due to a lack of discipline, not a lack of knowledge.

8. Don't chase the crowd -
Listen to the beat of your own drummer. By the time the crowd acts, you're probably too late…or too early.

9. Don't trade the obvious -
The prettiest patterns set up the most painful losses. If it looks too good to be true, it probably is.

10. Don't ignore the warning signs -
Big losses rarely come without warning. Don't wait for a lifeboat to abandon a sinking ship.

11. Don't count your chickens -
Profits aren't booked until the trade is closed. The market gives and the market takes away with great fury.

12. Don't forget the plan -
Remember the reasons you took the trade in the first place, and don't get blinded by volatility.

13. Don't have a paycheck mentality -
You don't deserve anything for all of your hard work. The market only pays off when you're right, and your timing is really, really good.

14. Don't join a group -
Trading is not a team sport. Avoid stock boards, chatrooms and financial TV. You want the truth, not blind support from others with your point of view.

15. Don't ignore your intuition -
Respect the little voice that tells you what to do, and what to avoid. That's the voice of the winner trying to get into your thick head.

16. Don't hate losing -
Expect to win and lose with great regularity. Expect the losing to teach you more about winning, than the winning itself.

17. Don't fall into the complexity trap -
A well-trained eye is more effective than a stack of indicators. Common sense is more valuable than a backtested system.

18. Don't confuse execution with opportunity -
Overpriced software won't help you trade like a pro. Pretty colors and flashing lights make you a faster trader, not a better one.

19. Don't project your personal life -
Trading gives you the perfect opportunity to discover just how screwed up your life really is. Get your own house in order before playing the markets.

20. Don't think its entertainment -
Trading should be boring most of the time, just like the real job you have right now

Trading Psychology

1)The key to trading success is emotional discipline. If intelligence were the key, there would be a lot more people making money trading

2)Just remember, without discipline, a clear strategy, and a concise plan, the speculator will fall into all the emotional pitfalls of the market – jump from one stock to another, hold a losing position too long, and cut out of a winner too soon, for no reason other than fear of losing profit. Greed, Fear, Impatience, Ignorance, and Hope will all fight for mental dominance over the speculator. Then, after a few failures and catastrophes the speculator may become demoralised, depressed, despondent, and abandon the market and the chance to make a fortune from what the market has to offer.

3)There is a strong psychological bias to be right about we do with our investment. In most people, this bias greatly overrides the desire to make a profit, or it inhibits us from reaching our true profit potential. Most people have overwhelming needs to control the market. As a result, they end up with the market controlling them.

4)One of the critical criteria I use in judging my traders is their ability to take a loss. If they can’t take a loss, they can’t trade.

5)Accept a loss without guilt, anger, shame or self punishment.

6)I haven’t seen much correlation between good trading and intelligence. Some outstanding traders are quite intelligent, but a few aren’t. Many outstanding intelligent people are horrible traders. Average intelligence is enough. Beyond that, emotional makeup is more important.

7)The real purpose of trading is not to make money. If that’s your goal you’ll probably struggle. But all of the following tend to work. If you goal is to be a great trader, then you probably will do well. If you goal is to use trading as a way to measure your self-development, then you will probably do well. If you just love trading and that’s why you do it, then as long as you are willing to work on yourself you will probably do well. Those, in my experience, are the key motivations that bring success in trading.

8)To be a successful trader you need to trade without fear. When you use fear as a resource to limit yourself, you will create the very conditions you are trying to avoid. Or to say this in another way, you will experience your fears. 

9)There are just four kinds of bets. There are good bets, bad bets, bets that you win, and bets that you lose. Winning a bad bet can be the most dangerous outcome of all, because a success of that kind can encourage you to take more bad bets in the future, when the odds will be running against you. You can also lose a good bet no matter how sound the underlying proposition, but if you keep placing good bets, over time, the law of averages will be working for you. 

10)The more I trusted myself the more I could focus my attention on subtle relationships in the market’s behavior, to learn new things about the market, helping me become a better trader. The less I cared about whether or not I was wrong, the clearer things became, making it much easier to move in and out of positions, cutting my losses short to make myself mentally available to take the next opportunity.

11)The reality is that most of us struggle in having to wait, that is the Achilles Heel in what we do; patience. Those that conquer patience tend to enjoy their trading work; those that have no patience are constantly tormented

12)Entering a trade will involve all your beliefs about opportunity in relation to risk, missing out, needing a sure thing, and not being wrong. Exiting a trade will involve all your beliefs about loss, greed, failure, and control. Considering the unlimited potential for profits, entering the market will be much easier, because exiting will require you to confront your beliefs about greed, loss, and failure in relationship to the constant temptation of the possibility for unlimited profits.

No man ever reached to excellence in any one art or profession without having passed through the slow and painful process of study and preparation.