Your trades must be based on clearly defined rules.
You have to analyze your feelings as you trade, to make sure that your decisions are intellectually sound.
You have to structure your money management so that no string of losses can kick you out of the game.
On daily chart Nifty showed a pullback after Monday 3% rally but managed to close above 4800. Till Nifty close above 4800 bulls still have strength left and they can take Nifty to well above 4900 levels. Today we have all important GDP data and market is factoring in severe slowdown in Indian Economy. Any GDP data below 7% will lead to decline in Nifty and Data above 7.5% which is least expected will lead to huge short covering rally.
Technically Stoch has given a Buy Signal and move above 4880 will lead to 4930 in quick succession ,Failure to Hold 4787-66 range will lead to 4700 levels.
I still presume after November month trending move market will move sideways for few session forming a trading range and than give a final breakout or breakdown.
As per Fibo levels 4930 is 38.2% retracement and should be the target for current upmove in Nifty with a condition than market should close above 4800 on closing basis.
Today is the Monthly closing in Nifty and Nifty should close 4833 on closing basis today else trend will become bearish and we will break 4638.
Buy above 4819 Tgt 4852,4866,4880,4900 and 4930
Sell below 4766 Tgt 4740,4693,4665