Today is last trading day of this week. Market will be closed tomorrow on account of Good Friday.
Let us see whether our trades have a good Thursday today.
NIFTY closed at record high on Tuesday. Let us see how the day pans out. The day may have more upside momentum or we may see some profit booking. Asia is trading slightly in the red as of this morning. Whether that trend impacts our market is yet to be seen.
We would like RELCAPITAL and INDUSINDBK to continue doing what these stocks did on Tuesday. BHARATFORG saw some weakening but we need a strong down move. same in BIOCON. These 5 remaining days till expiry are the make or break days for our trades.
We shall not be taking any new trades today. It is important to preserve your capital when things are not going well.
I am sharing a lesson from one of the master traders, Richard Dennis:
SGX NIFTY is flat. That actually tells us nothing.
Let the day begin. Keep a watch on all of them but a bit more on RELCAPITAL.
Trade cautiously, trade profitably.
Disclaimer: This post and examples are for teaching purpose only and are not meant as advice/suggestion to trade in these stocks. Trading in Futures and Options can lead to big losses and should be done with appropriate knowledge and advice only. Mentioning the stocks here does not imply that I have a trading position or likely to take a trade in these stocks.