Morning Bells (13 Jan 14)

Morning Bells (13 Jan 14)

Good Morning Friends.

If you fail to achieve your dreams then change your ways not principles. Tree changes leave not roots.

Nothing new to say here, now its confirmed that Nifty is failed to sustain at higher levels, earlier it failed to save 6357 and now 6230. So it means Nifty finding support near 6140 and declining near 6230. Its also indication that its sinking to lower levels and preparing good base for futuristic bull run around election time. I have already suggested you that currently Nifty is in correction mode and its really difficult to trade in correction but one can always make small profit.

I would strongly suggest to take long position around 6150 and then just keep tight SL of 6100 while short which we have already holding can be carry with SL 6230 (short term) and 6270 (swinger), bull run will start only after 6330.

FINAL WORD -

This is kind of market where one need to trade both side and this opportunity is really rare and swinger can get benefit most.

So be with market breadth, I have already told you y’day that when Nifty will give attempt towards 6230 exit your risky longs as trend is still down i.e. market is in correction phase and there’s lot of strong resistance in between 6230-6270-6330-6357 while on downside only 2 support zones are there 6120 and then 6020.

TODAY’S HOT STUFF –

Metals (TS, JSW Steel, SesaSter, Hindalco) -

In TS (S 360-345) and Sesa (S 189), both moving around support so trend could be buy on dips in metal sector while JSW and Hindalco can find support near 109-105.

ITC –

Instead of disappointed and some exit form FMCG, on Friday some buying interest seen in FMCG. For low risk takers its good bet with SL 305. It’s a slow moving stock and wont hurt you much in either case, you just need to keep SL. And for investors its like a fearless bet. Just need to keep Nifty SL 5950 either to exit and re-enter or to average more.

JACKPOT –

UPL-

People who have patience I am betting on few stocks like UPL, its making new 52 week high every week and I guess it would make new high soon. Its also remember here, stock which move up continuously need a small correction in between to provide good base in long run. Most probably it wont break 195 or max 186.

TataComm –

Its really a good bet for people who can afford some time. For me its good bet with short term SL 293 and good buy around 262.

Few more stocks which will give you handsome profit according to market sentiment and are – Arvind, AuroPharma, TataGlobal on long side. LT & IDFC is just opportunity on news base and can really turned into big jackpot. AT for small gains say it may hit 118-120 levels in short term.

FOR THIS WEEK – HCL and Wipro and TCS are just looks attractive.

Banks – remain subdued (selecting), Can bank looks weak. I am out of banks since few months but if there’s any opportunity I will make profit intraday or STBT max, I wont carry it for long.

MY STATUS – I may be IN/OUT for next 2-3 days say from Monday to Wednesday.

Be on board. Have a profitable day.

WHAT IS MORE IMPORTANT (New members must read)

WHAT IS MORE IMPORTANT (New members must read)

This text is dedicated to all new friends who have joined me recently as my old fellows knew it very well.

Yes, lets decide what's more important for you, I mean to say what's more important for you PROFIT or TRADE?

In one word everybody will say "profit" but I have experienced that there's only one kind of people i.e. traders, though everybody will say profit is more important but then they dont follow rules to make profit.

SIMPLE RULES -

1. On first day of your trade set your honest TG, i.e. if you are investing 50K there then how much return you are expecting. (Do it honestly i.e. if big TG then you should have have alternate, I mean to say if you say I am expecting 50K return on 50K investment in one month then if I come to you and say I am giving you 50K please give me 80K after a month and 20K you can keep as your profit, certainly you will refuse, then why to expect it from market?) So dont gamble.

2. After setting up your TG, start reading good text, follow someone whom you believe, or just follow your researches. I mean to say you should have proper info about your trades, dont start trades if stock moving up or down. (Great Ex. y'day - when JPA was up 2%, I was short on it, it went down to 2.5%, so specific moves doesn't mean you will always make profit)

3. Wait for right time and right opportunity - Its most important which people never follow, they prove themselves as ADDICTED TO TRADE. They feel suffocation if they dont trade. (Such people can unfollow me). Because I always look for opportunity, till I dont find any good bet I dont trade, so waiting could be long but it doesn't mean to do anything just to try our luck every time, you could be lucky 2-3 times but I am sure YOU WOULD BE VERY UNLUCKY ONLY FOR ONE TIME - would be good enough to kick you out of market.

4. Have Patience - Once you achieve your daily/weekly/ monthly TG, just get out of it and enjoy with family.

5. Market need highly disciplined player - before entering trade you should set your SL, dont make false hopes once your trades start making loss, some times it bounce back but only 1-2 good incident will wash out your all profit and can put you into loss. Same way dont forget to book profit when it reaches to your TG. (Great ex. FRL - we had buy rating from 74 for TG 88-89, it went to 91 people start thinking it will move up more and more, just check CMP)

IN SHORT PATIENCE IS THE ONLY KEY - AND DONT HABITAT TO TRADE INSTEAD WAIT FOR RIGHT OPPORTUNITY.

GOOD LUCK... HAVE A PROFITABLE DAY