This will be my second week as independent trader.
Trade update post market hour:
Market behaved as per my expectation.
Only traded Tatasteel today and made a loss 1073.
Available balance 207906
Lesson Learned: Will track two stocks for intraday trading. It is difficult to track more than two stocks. Will do in future once my competency level will increase. At present OMC , Metal and IT stocks are doing well so will concentrate on these stocks only.
Observation
Last week Bajaj Finance and Reliance capital trade successfully executed. I put SL ad target in those trade. Stocks went farther down after hitting target so I have profit gap.
Yesterday, I did not put target for Tatasteel. It was in good profit but did an U turn and converted the trade in losing trade.
1. Will continue to put target and check profit gap for 100 trades
2. Should I put target as .7% or 1 %
3. Should I consider the stocks which meet target are in trend
- Astrological view
- 24th is a full moon day. market might form a short term bottom and enter into a buy zone around 27th September
- Moon has 3rd house aspect by Saturn and in "Mrita" awastha. Moon star is Jupiter .
- Market will be range bound as per my understanding.
- Technical view
- Nifty bounced back from 10866. This implies nifty has support at lower level.
- Important factors with possible impact on market
- Farther liquidation of bond by corporate
- Resignation of IL&FS MD
- Funding issues of NBFC
- USD/INR and crude price
Trade Plan
1. NIFTY: Intraday Sell Nifty Oct 10800 October PE and Nifty Oct 11600 CE . Will put SL double the premium received. Will keep SL buy order for 11600 CE and 10600 PE.
2. Banknifty : Intraday sell of 25000 PE and 26200 CE . Will place order @915 and will additional lots @ 11 AM and 2 PM . Will put stop loss buy order at OTM.
3. Stocks
Trade update post market hour:
Market behaved as per my expectation.
Only traded Tatasteel today and made a loss 1073.
Available balance 207906
Lesson Learned: Will track two stocks for intraday trading. It is difficult to track more than two stocks. Will do in future once my competency level will increase. At present OMC , Metal and IT stocks are doing well so will concentrate on these stocks only.
Observation
Last week Bajaj Finance and Reliance capital trade successfully executed. I put SL ad target in those trade. Stocks went farther down after hitting target so I have profit gap.
Yesterday, I did not put target for Tatasteel. It was in good profit but did an U turn and converted the trade in losing trade.
1. Will continue to put target and check profit gap for 100 trades
2. Should I put target as .7% or 1 %
3. Should I consider the stocks which meet target are in trend
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