Technical Calls:Bank Nifty,Bank of India and Tata Motors

By | June 7, 2012

Emotion Management

After finding a good trade and opening a position to enter the market; that’s when all hell breaks loose. As the trade is executed, control is lost and they either scream in pain or fill with tremendous joy. Emotionally-driven traders miss the key element of winning – emotion management. If your sober mind is not focused on the market or ignores the psychological side of the financial markets, then your chance of making money in trading is slim. All winning traders understand the importance of trading psychology, all losing amateurs ignore it. The profitable traders have their eyes wide open, spotting trends and reversals rather than wasting time on regrets and wishful thinking. Living in reality and not in a fantasy world is what differentiates the successful traders from the amateur, less successful traders.

Bank Nifty

Bank nifty has rallied from the lows of 9110 to 9770 in matter of 3 trading sessions,rally can extend itself till 10000 odd levels where the trendline and moving average resistance lies.

Buy above 9770 Tgt 9835,9929 and 100028

Bank of India

Bank of India is near its trendline resistant channel.Break of same will lead to recent high of 361

Buy above 345.7 Tgt 348.9,352.5 and 358.6

 

Tata Motors

Tata Motors achieved our target of 217 and started rallying from there. Now Stock faces resistance between 236-239 range

Buy above 239.4 Tgt 241.5,244.5 and 248

 

 

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