We all need to be disciplined along with using good money and risk management skills, yet too much of anything can cause problems.
Sometimes we put so much attention on caution to ensure that we only make good trades that we reduce our actions to the point that we miss so many strong trading opportunities.
Every time we begin our trading sessions, we need to communicate to ourselves that we will be confident, prepared and most importantly… committed to executing trades when our analysis shows that a good trade is in front of us.
Never allow the market, the news, your friends, your past trading session or anything else send you a false signal that causes you to sit back and do nothing when you can easily see from your training that you should execute a trade right now.
VIP Industries has been on a waterfall decline from the high of rs 203 to a low of 97 in matter of 2 months. Stock was punter favorite and in bear market this stock saw a beating the pace it went up its falling from the same pace.
91 is the short term bottom for the stock and if held we can see a recovery but till than do not try to catch a falling knife. INR going strong is hurting the company.
Sell below 97.1 Tgt 95.6,94.5 and 91
Buy above 100.2 Tgt 102.9,104.8 and 107
Tata motrs is forming a pattern similar to bearish flag,I am not a big fan of patterns but a big believer in levels as they can only give you correct entry and exit point with proper stoplosses.
Tata motors has been forming higher low formation from 13,142,145 and 160 which shows stock is seeing buying at lower level.Today is real test of the formation whether it would be able to hold the trendline support of 170 or break below it.
Sell below 175.7 Tgt 173,170 and 168
Buy above 180 Tgt 184,187.8 and 192
M&M is approaching a crucial support zone of 679-670. the current uptrend will get cover with a closing below 670 as it will invalidate with the formation of lower lows.
Sell below 672 Tgt 661,641 and 632
Buy above 692 Tgt 702,712 and 722