#IntradayTrading 1) Intraday Trading doesn't mean you have to trade full day. 2) Taking advantage of small price moves can be a lucrative game-if it is played correctly. 3) Accept loss quickly if you are wrong, don't pray for cost to cost exit.
4) Dangerous game for newbies or anyone who doesn't adhere to a well-thought-out strategy. 5) It is a job, not a hobby. 6) Moving quickly is the key. 7) Be Realistic about profits. 8) Stay Cool, keep drinking water, take deep breath. 9) Avoid margins which is beyond your risk.
10) Be cautious when you are selling short intraday in cash market (selling without delivery). If you sell the shares and do not square it off intraday, then it will result in short delivery and go into exchange auction. Such auction can result in huge losses to you.
Technical Analysis broadly you can classify in 2 category...
1) Reactive 2) Prediction
I follow first & second follows...
Many ways to make money, Do what you like....
Sunpharma is the best example...
Many of you are also following it...
It all started on may 20th, then we tried to catch several moves.. like recently when I have updated chart on may 31st for buy side...
A followup is done, Once I share charts with observation I do share follow up activity where people many people are missing...
What one has to do is shared... both on june 1 & june 2...
Reactive analysis is when price reach certain levels react with your price action knowledge
I do after market hour work every day and also on weekend.
Every Day : Index & FNO stocks
Weekend : Cash Market Full Segment.
When I watch charts, I list them under bearish/ bullish or no trend stocks...
Note down the levels, if you can remember ok, else set alert. 2/n
Now I am well prepared,most of my work is already done.
When market opens we need to see our levels and use market opening levels and perform action that is called as after market adjustment after observation.
3/n
Either person will show some patterns, support & resistance/trendlines or use some indicator technique. 2/3
What are chart patterns ?
A chart pattern or price pattern is a pattern within a chart when prices are graphed. Patterns are formed by sentiments of people try to understand that sentiments don't waste time in finding patterns. 3/4