SUNPHARMA

SUN PHARMA breaking its channel(upside) with huge volumes above 784-86 we can long this stock for a t1=795 and then t2=810.
cheers
RISH

The Reality of the Chart

Price ticks coalesce into bars, and bars into patterns, as the crowd writes its
emotional diary on the screen.

Successful traders learn to recognize a few
patterns and trade them. They wait for a familiar pattern to emerge like fishermen
wait for a nibble at a riverbank where they fished many times in the past.


Many amateurs jump from one stock to another, but professionals tend
to trade the same markets for years. They learn their intended catch’s personality,
its habits and quirks. When professionals see a short-term bottom
in a familiar stock, they recognize a bargain and buy. Their buying checks
the decline and pushes the stock up. When prices rise, the pros reduce
their buying, but amateurs rush in, sucked in by the good news. When
markets become overvalued, professionals start unloading their inventory.
Their selling checks the rise and pushes the market down. Amateurs
become spooked and start dumping their holdings, accelerating the
decline.

Once weak holders have been shaken out, prices slide to the level
where professionals see a bottom, and the cycle repeats.

That cycle is not mathematically perfect, which is why mechanical systems
tend not to work. Using technical indicators requires judgment.
cheers
courtesy:-come_into_my_trading_room

RELIANCE

RELIANCE moving in a channel it will find resistance at 1065 levels long this above 1000.
cheers
rish

ICICI BANK

ICICI BANK channel support near 481,it can bounce from there to its immediate target of 500.
cheers
rish

BAJAJ AUTO

Bajaj auto is moving in a horizontal channel as of now its targetting channel resistance thats near 2722 trade accordingly
cheers
rish

what Goldman Sachs up to

friends check out what goldman sachs is buying at the moment when all r telling to avoid buying download here Goldman Sachs post your views.
cheers
rish

pivot calculator

hi
friends try this pivot calculator which can be used to predict levels which gives you view about scripts supports and resistances download from here pivot calculator just put high , low and close for a purticular script and get going you, can learn more about pivots try google.Learn more let all lear make indian markets mature,and thanks to Mr.Prabhakar for giving this pivot calculator.
cheers

GAIL

gail looks to make an cup & handle and above 254 it can zoom buy above 254 for a 260+ target
cheers

TA+organ between ears=successfull trade

This is 1 min intraday chart for nifty each bar is of 1 min time, though i should say i am quite new to this financial jungle of TA(Technical Analysis)still would like to share what i learned till now,I got compelled to do this as i have seen people trading blindly when asked they say TA is not affective but i would say rather than clamouring and wasting time its better to get some good points about TA.The above chart shows nifty and if u see ema crossover generated buy signal at 2930 then at 2960 comes an ihs(inverse head&shoulder) shown as (1) which makes sure we reach green arrow target after that further move can be followed by with a help of trendline and longs can cover profits as nifty broke that trendline again we went down and made another ihs(2) though not classic one which gives way for up move so the conclusion is TA works only thing is you should know how to use it , and that will come only when we use more of the organ between out ears.
PS:-this edge is coz of live data trading if u serious about trading u need to play with live data
no shortcuts
cheers
rish

SIEMENS

as seimens breaches its support zone it has fallen like cards and this fall has come on volumes next major support is near 750 levels so keep an eye on this
cheers
rish

Matured Trader

Successful traders are sharp, curious, and unassuming people. Most
have been through losing periods. They graduated from the school of
hard knocks, and that experience helped smooth their rough edges.
Successful traders are self-assured but never arrogant. People who survive
in the markets remain alert. They trust their skills and trading methods,
but keep their eyes and ears open for new developments. Confident
and attentive, calm and flexible, successful traders are fun to be with.
Successful traders are often unconventional people, and some are
very eccentric. When they mix with others, they often break social rules.
The markets are set up for the majority to lose money, and a small group
of winners marches to a different drummer, in and out of the markets.
Markets consist of huge crowds of people watching the same trading
vehicles, mesmerized by upticks and downticks. Think of a crowd
at a concert or in a movie theater. When the show begins, the crowd
gets emotionally in gear and develops an amorphous but powerful
mass mind, laughing or weeping together. A mass mind also emerges
in the markets, only here it is more malignant. Instead of laughing or
weeping, the crowd seeks each trader’s private psychological weakness
and hits him in that spot.
Markets seduce greedy traders into buying positions that are too
large for their accounts and then destroy them with a reaction they cannot
afford to sit out. They shake fearful traders out of winning trades
with brief countertrend spikes before embarking on runaway moves.
Lazy traders are the favorite victims of the market, which keeps throwing
new tricks at the unprepared. Whatever your psychological flaws
and fears, whatever your inner demons, whatever your hidden weaknesses
and obsessions, the market will seek them out, find them, and
use them against you, like a skilled wrestler uses his opponent’s own
weight to toss him to the ground.
Successful traders have outgrown or overcome their inner demons.
Instead of being tossed by the markets, they maintain their own balance
and scan for chinks in the crowd’s armor, so that they can toss
the market for a change. They may appear eccentric, but when it
comes to trading they are much healthier than the crowd.
Being a trader is a journey of self-discovery. Trade long enough, and
you will face all your psychological handicaps—anxiety, greed, fear,
anger, and sloth. Remember, you’re not in the markets for psychotherapy;
self-discovery is a byproduct, not the goal of trading. The primary
goal of a successful trader is to accumulate equity. Healthy trading
boils down to two questions you need to ask in every trade: “What is
my profit target?” and “How will I protect my capital?”
A good trader accepts full responsibility for the outcome of every
trade. You cannot blame others for taking your money. You have to
improve your trading plans and methods of money management. It will
take time, and it will take discipline.

ITI

ITI is thrusting up with huge volumes 62 is the level where it can pause a bit before reaching its stiff resistance 64-65. 50 now remains as its strong support.
cheers
rish

Wishful Thinking

When the pain grows bit by bit, the natural tendency is to do nothing
and wait for an improvement. A sleepwalking trader gives his losing
trades “more time to work out,” while they slowly destroy his account.
A sleepwalker hopes and dreams. He sits on a loss and says, “This
stock is coming back; it always did.” Winners accept occasional losses,
take them, and move on. Losers postpone taking losses. An amateur
puts on a trade the way a kid buys a lottery ticket. He waits for the
wheel of fortune to decide whether he wins or loses. Professionals, to
the contrary, have ironclad plans for getting out, either with a profit
or a small loss. One of the key differences between professionals and
amateurs is their planning for exits.
A sleepwalking trader buys at 35 and puts in a stop at 32. The stock
sinks to 33, and he says, “I’ll give it a little more room.” He moves his
stop down to 30. That is a fatal mistake—he has breached his discipline
and violated his own plan.
You may move stops only one way—in the direction of your trade.
Stops are like a ratchet on a sailboat, designed to take the slack out of
your sails. If you start giving your trade “more room to breathe,” that extra
slack will swing around and hurt you. When the market rewards traders
for breaking their rules, it sets up an even deeper trap in their next trade.
The best time to make decisions is before you enter a trade. Your
money is not at risk, and you can weigh profit targets and loss parameters.
Once you’re in a trade, you begin to form an attachment to it.
The market hypnotizes you and lures you into emotional decisions.
This is why you must write down your exit plan and follow it.
Many may not be satisfied by this i myself seen many trader friends
who turn every miss trade into an investment for future think about it
is it ok to do that.

BLAMING OTHERS FOR YOUR LOSS

A beginner entering the markets soon finds himself surrounded by a colorful
crowd of gurus—experts who sell trading advice. Most charge fees,
but some give advice for free to drum up business for their brokerage
firms some give for fun some for hype but very few you will find who are
genuine. Gurus publish newsletters, are quoted in the media, and many
would kill to get on TV. Masses are hungry for clarity, and gurus are
there to feed that hunger. Most are failed traders, but being a guru is not
that easy. Their mortality rate is high, and few stay around for more than
two years. The novelty wears off, customers do not renew subscriptions,
and a guru finds it easier to earn a living selling aluminum siding than
drawing trendlines.Traders go through three stages in their attitudes
towards gurus.
In the beginning, they drink in their advice, expecting to make money
from it. At the second stage, traders start avoiding gurus like the
plague, viewing them as distractions from their own decision-making
process. Finally, some successful traders start paying attention to a few
gurus who alert them to new opportunities.
Some losing traders go looking for a trainer, a teacher, or a therapist.
Very few people are experts in both psychology and trading. I’ve met
several gurus who couldn’t trade their way out of a paper bag but
claimed that their alleged expertise in psychology qualified them to
train traders. A teacher who does not trade is highly suspect.
Traders go through several stages in their attitudes towards tips.
Beginners love them, those who are more serious insist on doing their
own homework, while advanced traders may listen to tips but always
drop them into their own trading systems to see whether that advice
will hold up. Whenever I hear a trading tip, I run it through my own
computerized screens. The decision to buy, go short, or stand aside is
mine alone, with an average yield of one tip accepted out of every 20
heard. Tips draw my attention to opportunities I might have overlooked,
but there are no shortcuts to sweating your own trades
Being an analyst is a hard job but being a trader is
more harder.BOTOMLINE:-never trade blindly on anyones call
cheers

SENSEX CHANNELS

CLASS STUFF (much ahead of herd metality)

Just check this guy out hes amazing and consistent in performing
this was todays news letter posted in morning
Daily Report June 23rd, 2006 Friday A.K.Prabhakar

Nifty (2994) SUPPORT-2956-2932-2905 RESISTANCE-3019-3070-3112 nifty staying above 3019 for a long time would be very bullish otherwise we would see some profit booking before any major upmove. F&O settlement jus 5trading days away so till 2860 is not broken we would move to higher levels and any close above 3070-3091 would be good on weekly basis. TOP 5GAINERS=HDFC-LT-NATIONALUM-M&M-PNB TOP5LOSER=DRREDDY-HCLTECH-RANBAXY-BHARTIARTL-IPCL. P/E=17.03 p/b=4.32 adv=45 dec=5 NSE adv: 794 dec: 134 -vol-rs.6477crs

Sensex (10275) SUPPORT-10182-10095-9964 RESISTANCE-10369-10452-10584 Sensex above 10182 would be bullish and a strong resistance would come near 10700 levels only. Today Sensex opened with a gap and now 10054 would become a strong support so one can hold long position till this is not broken now on a weekly close 10452 above close would be highest in 4week in weekly charts and close above 10500-10560 would mean a clear trend reversal in weekly charts.
8dma=9694 13dma=9681 21dma=10004 34dma=10662 55dma=11119 OPEN=10093 HIGH=10362 LOW=10093 BSE adv: 2021 dec: 459 -vol-rs.3262crs
Fiis buyer rs.91crs and Mutual funds buyer rs.97crs on Wednesday, Fiis buyer rs.1199crs in June month and buyer rs.12321Crs in 2006, mutual fund seller rs.2144crs in June month. F&O DATA Fiis buy rs.474crs in nifty future and buy rs.154crs in stock future on 22nd June and provisional Fiis buy in cash rs.23crs source NSE website

Day That Ended: Markets opened higher due to global cues and with many positive news on METALS even the BSE-METAL index has given island reversal suggesting there would be a big upside from here in that sector. BANK as a sector had a good recovery as that was one sector beaten down most HDFC-ICICIBANK-BAJAJAUTO are companies which hold insurance business and these would be the stocks which would see good buying once Fiis are active in India as insurance business has good cash flow. International markets close mixed U.S closed negative and ADRs also closed negative with trend there EURO markets closed positive Asian markets opened negative and CRUDE $71.09
Outlook for Friday: METALS would be the buzz for now TATASTEEL-STER-HINDALCO-HINDZINC-SAIL-NALCO-SESAGOA-GMDC still 7-12% upside left in my view and with news that Korean major Pasco deal in trouble it would be a booster to Indian steel majors. Indian pharma is becoming so hot a property and with MATRIXLAB news investors should understand next TECH boom would be CRAMS in PHARMA so they would be many mergers, takeover in this sector in a longer time to come for now RANBAXY-DRREDDY have seen a big OI built up also. Best picks for next week expiry would be IPCL-BHEL-TATASTEEL-STER-SATYAMCOMP-ACC so any panic close one can add these stocks.

STOCKS: TVSMOTORS-RANBAXY-DRREDDY-PUNJLYOD-POLARIS-BANKINDIA-BOB have a good OI built in F&O so watch.

Counter view: When markets are extremely bullish and market fall many ask when will the markets rise. When markets moves up after major correction many would ask when markets will correct this always show the attitude of the people they almost get it wrong. They never sell when extreme bullishness is seen they wait for a better price to exit and some times they add more and that better price never comes and when there is extreme panic comes they never buy instead they sell there good stocks. In a extreme bull markets all news will look as if markets will touch the sky and in a extreme bearish markets all news would be so bad that as if there is no tomorrow. INFOSYS had given a good guidance nothing has changed in 1month expect for interest rate hike which will not effect this cash rich company and we saw rs.2450 and now 2980 almost 20% in just 10days what more a return does a investor need. This is where emotions comes to play and the best trader and investor who can control his emotion and think differently makes money majority of the times this is very easy said than done as money is at stake.

TCS

TCS looks to make a pole and pennant still in the making will get confirmation once volume shows up lets wait and watch
cheers
rish

ONGC

ONGC is on the verge of breaking a small channel but 1085 region will act as a strong resistance trade accordingly
cheers
rish

ITI

ITI has a strong resistance near 50 levels trade accordingly
cheers
rish

BHEL idea

BHEL may well be making a inverse head & shoulder though bit conflicting right shoulder rise is still pending lets see if that possible.
cheers
rish

possible inverse H & S

TATA MOTORS

TATA MOTORS 758-760 support can target 780+
cheers
rish

TATA STEEL

TATA STEEL support at 474-475 t1=491,t2=515
cheers
rish

VSNL

VSNL if trades above 365 can see 390+ sl below 360 the stock looks quite bullish
cheers
rish

RELIANCE

RELIANCE can see 955 above that it can spurt near to 1000 this will be true if reliance trades above 955 comfortyably.
cheers
rish

RANBAXY

RANBAXY above 375 can see 390+ above 400 it will have a smooth rally all this is true only when it trades above 375.
cheers
rish

MARUTI

MARUTI can see 830-835 above 770 keep an sl of 765
cheers
rish

BHEL

BHEL will target 2050-2100 long with a sl of 1930 presently on support
cheers
rish

Larsen & Tubro Idea

LT may be making a inverse HS as shown in chart trade accordingly
cheers
rish

ACC

ACC broke channel upward and now its targeting its resictance 775-778 trade accordingly
cheers
rish

SIEMENS

Siemens broke first channel quite comfortably now its trading in second channel and it bounced from near channel support things look bright got this stock
cheers
rish

Bharti

Bharti has still resistance near 372-375 trade catiously
cheers

Bajaj Auto

bajaj auto looks to be on resistance trade accordingly
cheers
rish

THE DISCIPLINED TRADER

Traders come to the markets with great expectations, but few make
profits and most wash out. The industry hides good statistics from
the public, while promoting its Big Lie that money lost by losers goes
to winners. In fact, winners collect only a fraction of the money lost by
losers. The bulk of losses goes to the trading industry as the cost of
doing business—commissions, slippage, and expenses—by both winners
and losers. A successful trader must hop over several high hurdles—
and keep hopping. Being better than average is not good
enough—you have to be head and shoulders above the crowd. You
can win only if you have both knowledge and discipline.
Most amateurs come to the markets with half-baked trading plans,
clueless about psychology or money management. Most get hurt and
quit after a few painful hits. Others find more cash and return to trading.
We do not have to call people who keep dropping money in the
markets losers because they do get something in return. What they get
is fantastic entertainment value.
Markets are the most entertaining places on the face of the Earth.
They are like a card game, a chess game, and a horse race all rolled
into one. The game goes on at all hours—you can always find action.
Most people live in a deep invisible groove—no need to think,
make decisions, feel the raw edge of life. The routine does feel
comfortable—but deathly boring.
Even amusements stop being fun. How many Hollywood movies
can you watch on a weekend until they all become a blur? How many trips
to Disneyland can you take before all the rides in plastic soap dishes
feel like one endless ride to nowhere? To quote Thoreau again, “A
stereotyped but unconscious despair is concealed even under what are
called games and amusements of mankind. There is no play in them.”
And then you open a trading account and punch in an order to buy
500 shares of Intel. Anyone with a few thousand dollars can escape the
routine and find excitement in the markets.
Suddenly, the world is in living color! Intel ticks up half a point—
you check quotes, run out for a newspaper, and tune in for the latest
updates. If you have a computer at work, you set up a little quote window
to keep an eye on your stock. Before the Internet, people used
to buy pocket FM receivers for market quotes and hide them in halfopen
desk drawers. Their antennae, sticking out of desks of middleaged
men, looked like beams of light shining into prison cells.
Intel is up a point! Should you sell and take profits? Buy more and
double up? Your heart is pounding—you feel alive! Now it’s up three
points. You multiply that by the number of shares you have and realize
that your profits after just a few hours are close to your weekly salary.
You start calculating percentage returns—if you continue trading like
that for the rest of the year, what a fortune you’ll have by Christmas!
Suddenly you raise your eyes from the calculator to see that Intel has
dropped two points. Your stomach is tied in a knot, your face pushes
into the screen, you hunch over, compressing your lungs, reducing the
flow of blood to the brain, which is a terrible position for making decisions.
You are flooded with anxiety, like a trapped animal.
You are hurting—but you are alive!
Trading is the most exciting activity that a person can do with
their clothes on. Trouble is, you cannot feel excited and make money
at the same time. Think of a casino, where amateurs celebrate over free
drinks, while professional card-counters coldly play game after game,
folding most of the time, and pressing their advantage when the card
count gives them a slight edge over the house. To be a successful trader,
you have to develop iron discipline (Mind), acquire an edge over the
markets (Method), and control risks in your trading account (Money).

TRADING STRATEGY

Buy low, sell high. Short high, cover low. Traders are like surfers,
trying to catch good waves, only their beach is rocky, not sandy.
Professionals wait for opportunities but amateurs jump in, driven by
emotions—they keep buying strength and selling weakness, bleeding
their equity into the markets. Buy low, sell high sounds like a simple
rule, but greed and fear can override the best intentions.
A professional waits for familiar patterns to emerge from the market.
He may notice a new trend with rising momentum, indicating higher
prices ahead. Or he may detect the feebleness of momentum during a
rally, indicating weakness. Once he recognizes a pattern, he puts on
a trade. He has a clear notion of how he’ll get in, where he’ll take profits,
and where he’ll accept a loss if the market turns against him.
A trade is a bet on a price change, but there is a paradox. Each price
reflects the latest consensus of value of market participants. Putting on
a trade challenges that consensus. A buyer disagrees with the collective
wisdom by saying the market is underpriced. A seller disagrees with the
wisdom of the entire group, believing the market is overpriced. Both
the buyer and the seller expect the consensus to change, but meanwhile
they defy the market. That market includes some of the most brilliant
minds and some of the deepest pockets on Earth. Arguing with this
group is dangerous business, and it has to be done very cautiously.
An intelligent trader looks for holes in the efficient market theory.
He scans the market for brief periods of inefficiency. When the crowd
is gripped by greed, the newcomers jump in and load up on stocks.
When falling prices squeeze the fingers of thousands of buyers, they
dump their holdings in a panic, disregarding fundamental values. Those
episodes of emotional behavior dilute the cold efficiency of the market,
creating opportunities for disciplined traders. When markets are
calm and efficient, trading becomes a crapshoot, with commissions and
slippage worsening the odds.
Crowd mentality changes slowly, and price patterns recur, albeit
with variations. Emotional swings provide trading opportunities, while
efficient markets chop up and down, offering no edge to traders, only
piling up their costs. Technical analysis tools will work for you only if
you have the discipline to wait for patterns to emerge. Professionals
trade only when markets offer them special advantages.

CENTURY TEXTILE

334-335 the next resistance for century textile
cheers
rish

TRADING FLEXIBILITY

Markets keep changing, and flexibility is the name of the game. A
brilliant programmer told me recently that he kept losing money but
whoever was buying off of his stops must have been profitable because
his stops kept nailing the bottoms of declines. I asked why he didn’t
start placing his buy orders where he now placed stops. He wouldn’t
do it because he was too rigid, and for him buy orders were buy orders
and stops were stops. A high level of education can be a handicap in
trading. Brian Monieson, a noted Chicago trader, once said in an interview,
“I have a Ph.D. in mathematics and a background in cybernetics,
but I was able to overcome those disadvantages and make money.”
Many professional people are preoccupied with being right. Engineers
believe that everything can be calculated, and doctors believe that if
they run enough tests, they’ll come up with the right diagnosis and
treatment. Curing a patient involves a lot more than precision. It is a
running joke how many doctors and lawyers lose money in the markets.
Why? Certainly not for lack of intelligence, but for lack of humility
and flexibility.
Markets operate in an atmosphere of uncertainty. Trading signals are
clear in the middle of the chart, but as you get closer to the right edge,
you find yourself in what John Keegan, the great military historian,
called “the fog of war.” There is no certainty, only odds. Here you have
two goals—to make money and to learn. Win or lose, you have to gain
knowledge from a trade in order to be a better trader tomorrow. Scan
your fundamental information, read technical signals, implement your
rules of money management and risk control.
COURTESY:-come into my trading room

BOMBAY DYEING

bombay dyeing resistance near 525-530 crossing that can see 600 levels
cheers
rish

ranbaxy

ranbaxy on its mother support trade accordingly chances of bounceback are high
cheers
rish

Do You Need Real-Time Data?

Real-time data flows to your screen
tick by tick, as prices change in the markets. A live screen is one of the
most captivating sights on Earth, right up there with nude co-ed volleyball
or a chain collision on an expressway. Watching your stock dance
in front of your face can help you find the best spots for buying and
selling—or make you forget reality and swim in adrenaline.
Will live data improve your trading? The answer is “yes” for a few,
“maybe” for some, and “no” for most. Having a live screen on your
desk, says a trader friend, is like sitting in front of a one-armed bandit.
You invariably end up feeding it quarters.
Trading with live charts looks deceptively easy, while in fact it is one
of the fastest games on the planet. Buy at 10:05 A.M., watch the price rise
a few ticks, and take a couple of hundred dollars off the table by 10:15.
Repeat several times a day, and go home at 4 with thousands of dollars
and no open positions. Sleep like a baby and return in the morning.
Trouble is, you need perfect reflexes to do that. If you pause to
think, delay taking a profit, or quibble accepting a loss, you’re dead.
This game requires lightning-fast reflexes, as well as a certain
thoughtless capacity to jump.So know your reflexes and start flexing ur
biceps if you are fast and furious.
courtesy:-come into my trading room

bajaj hindustan

bajaj hindustan can see 240 or even below levels till 200 thats the place to pick some 4 investment.
cheers
rish

We don't give up easily...Do We?

dear friends,
read at least 5 times the below written stuff ,Devine stuff thanks to
Dr. Raman for this

have never ever in my life ventured to be this bold so publicly and more
so in print, but i feel like being one and saying something which might be
the last line of this mail.

And this mood is very rightly prompted by seeing the deluge of depressive
emails and the sentiment which has taken a beating and rightly so coz the
the bear phases and bear markets tend to beat you and your psyche more than
the prices. That is the very definition of the bear phase or market. I have
seen people stop buying capital market or other such magazines, papers ,
stop subscriptions and you name it. That is bear phase or market for you.
There is total gloom ( it has yet to come in this market of 2006 ) and
lasts painfully long.

People tend to be capital protective, the spending becomes less which adds
to the sentiment and economic slowdown.

But the bold and prudent ones which are cash rich venture out and pick up
the right kind of stocks and keep on adding them at all declines and are
ready to reap next-time when your paanwala or barber keeps ndtv profit or
cnbc channel on at his joint and stock markets are the ususal topic in
ladies kittie parties.

There is nothing wrong with India or its economy or its people or its
collective intelligence. We would surely grow in numbers (population - read
consumers ) , intelligence, productivity, entrepreneurship coz we sure want
more and we rightfully demand out place in the Sun. We worry about our own
future and next generations more than any other nationality on earth.
We are more family oriented and we are savers par excellence.

Yes, there are abberations, there are sometimes too many me-toos.

I could keep this rambling on and on, but to cut it short and coming to the
point, i would say, that having retired gracefully from my professional
life, I have lived quite a life and whatever little is left of it, i am
pretty sure that I would be here when the sensex / nifty hits newer
heights not yet seen or even mentioned.

You can mark these words for posterity to prove me wrong or otherwise

The Trading Battle

How much training you need depends on the job you want. If you
want to be a janitor, an hour of training might do. Just learn to attach
a mop to the right end of the broomstick and find a pail without holes.
If, on the other hand, you want to fly an airplane or do surgery, you’ll
have to learn a great deal more. Trading is closer to flying a plane than
to mopping a floor, meaning you’ll need to invest a lot of time and
energy in mastering this craft.
Society mandates extensive training for pilots and doctors because
their errors are so deadly. As a trader, you are free to be financially
deadly to yourself—society does not care, because your loss is someone
else’s gain. Flying and medicine have standards and yardsticks, as
well as professional bodies to enforce them. In trading, you have to set
up your own rules and be your own enforcer.
Pilots and doctors learn from instructors who impose discipline on
them through tests and evaluations. Private traders have no external
system for learning, testing, or discipline. Our job is hard because we
must learn on our own, develop discipline, and test ourselves again
and again in the markets.Trading is an continuous battle of mind and
the one with emotionless thinking enjoys the cake.Trading requires
continuous updation of skills and thinking to get money out of mighty
markets.

Trading record

Good traders keep good records. They keep them not just for their
accountants but as tools of learning and discipline. If you do not have
good records, how can you measure your performance, rate your
progress, and learn from your mistakes? Those who do not learn from
the past are doomed to repeat it.
When you decide to become a trader, you sign up for an expensive
course. By the time you figure out the game, its cost may equal that of
a college education, only most students never graduate—they drop out
and get nothing for their money except for memories of a few wild rides.
Whenever you decide to improve your performance in any area of
life, record keeping helps. If you want to become a better runner, keeping
records of your speeds is essential for designing better workouts.
If money is a problem, keeping and reviewing records of all expenditures
is certain to uncover wasteful tendencies. Keeping scrupulous
records turns a spotlight on a problem and allows you to improve.
Becoming a good trader means taking several courses—psychology,
technical analysis, and money management. Each course requires its
own set of records. You’ll have to score high on all three in order to
graduate.
Your first essential record is a spreadsheet of all your trades. You have
to keep track of entries and exits, slippage and commissions, as well
as profits and losses.

ABB

ABB will find trendline resistance near 2300-2320 trade accordingly
cheers
rish

ACC

ACC knocking back to get into channel its on trendline resistance.
cheers
rish

DISCIPLINE

A friend of mine used to have a dog-training business. Occasionally a
prospective client would call her and say, “I want to train my dog to
come when called, but I do not want to train it to sit or lie down.” And
she’d answer, “Training a dog to come off-leash is one of the hardest
things to teach; you must do a lot of obedience training first. What
you’re saying sounds like, ‘I want my dog be a neurosurgeon, but I do
not want it to go to high school.’”
Many new traders expect to sit in front of their screens and make
easy money day-trading. They skip high school and head straight for
neurosurgery.
Discipline is necessary for success in most endeavors, but especially
in the markets because they have no external controls. You have to
watch yourself because no one else will, except for the margin clerk.
You may put on the stupidest and self-destructive trades, but as long as
you have enough money in your account, no one will stop you. No one
will say hold on, wait, think what you’re doing! Your broker will repeat
your order to confirm he got it right. Once your order hits the market,
other traders will scramble for the privilege of taking your money.
Most fields of human endeavor have rules, yardsticks, and professional
bodies to enforce discipline. No matter how independent you
feel, there is always some agency looking over your shoulder. If a doctor
in private practice starts writing too many prescriptions for painkillers,
he’ll soon hear from the health department. Markets impose no
restrictions, as long as you have enough equity. Adding to losing positions
is similar to overprescribing narcotics, but nobody will stop you.
As a matter of fact, other market participants want you to be undisci-

plined and impulsive. That makes it easier for them to get your money.
Your defense against self-destructiveness is discipline. You have to set
up your own rules and follow them in order to prevent self-sabotage.
courtesy:-come into my trading room

NSE autopsy

nifty bounced from long term trendline support it took many by surprize many terming this as a relief rally in bear gripped market.I will not go that deep into to debate about it, I would just repeat golden words what i said yesterday too."WHEN EVERYBODY STARTED MAKING MONEY SHORTING BOUNCE WAS NEAR" and it was proved by the massive thrust shown by nifty on friday so remember making money in markets is not easy it needs continuous study with trading in new ideas so keep learning.
cheers
rish

INTELLIGENT TRADER

Traders make money by betting on short-term price swings. The idea
is to buy when our reading of the market tells us prices are rising and
sell when the uptrend runs out of steam. Alternatively, we can bet on
a decline and sell short when our analysis points to a downtrend, covering
when the downtrend starts bottoming out. The concept is simple,
but implementing it is difficult.
It is hard to become a good analyst, but harder to become a good trader.
Beginners often assume they can make money because they’re smart,
computer-literate and have a record of success in business. You can get a
fast computer and even buy a backtested system from a vendor, but putting
money on it is like trying to sit on a three-legged stool with two legs
missing. The two other factors are psychology and money management.
Balancing your mind is just as important as analyzing markets. Your
personality influences your perceptions, making it a key aspect of your
success or failure. Managing money in your trading account is essential

for surviving the inevitable drawdowns and prospering in the long run.
Psychology, market analysis, and money management—you have to master
all three to become a success.
COURTESY:- come into my trading room

VSNL

VSNL is weak below 300 can find support near 290 and 270 trade accordingly.

BAJAJ AUTO

Bajaj auto can find support near 2220-2200 else next support neat 2150-2135 trade accordingly.

ABB

ABB looks near to its trendline resistance 2305-2315 above this it will be strong ,but prevailing market sentiments r weak trendline support is near 2100 trade accordingly.

RELIANCE

RIL has trendline support near 850 levels

BHARTI

bharti good support near 340-330 ressistance around 365-370 keep an eye on these levels and act accordingly
cheers
rish

bombay dyeing

this is one stock which is falling like cards is the land story over or some more bad news coming .This is an good example of speculative buying and u see what happens when correction sets in.Well 510-520 good support zone 600 will act as stiff resistance,though very volatile stock if u cnt trade volatility dnt touch this.
cheers rish