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Friday, 22 March 2013

Todays Trades 21 March–2 winning trades

Today we saw significant volatility with market swinging in both directions. These kind of markets may be day traded only by having clear levels and discipline in mind. We had 2 sell calls in the pre-market calls for today which fetched handsome returns to the followers.

Out of our pre-market calls, only the two sell calls triggered.

1. Tata Steel – Below 333, it touched 325.

2. ONGC – Below 300, the stock touched 294.

Hope readers enjoyed these trades.

Once more re-iterating the fact that trading less is the only way to earn profits consistently. It is not necessary to make several trades and take bigger risks. Instead, trade based on levels and charts, when both support the trade. This is the trading system we have here and followed by many successful traders. Please try following this approach and I am sure you will make lot of money.

Today many people lost heavily since they were short when 5700 was crossed, but immediately Nifty shot up without any stop to 5745 resistance level triggering all stop losses. Then those who went long at 5745 could not book profits before the Nifty made steep fall from 5760 levels. In such swings , individual stocks will respect the support resistance levels better than Nifty and this is one of the reasons why we do not trade in Nifty here.

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