The losing traders have unrealistic expectations about the kind of profits they can make, typically shooting too high. They also debate with themselves before taking a trade, and even dwell on a trade well after it’s closed out. But the one big thing Williams noticed about this group was that they paid little attention to money management (i.e. defense).And the winners? This group has an intense focus on money management, and will voluntarily exit a trade if it’s not moving – even if it’s not losing money at that time! There is also very little internal dialogue about trade selection and trade management; this group just takes action instead of suffering analysis paralysis. Finally, the winning traders focused their attention on a small niche in the market or a few techniques, rather than trying to be able to do everything. Hopefully the second description fits you a little better, but if the first one seems a little too familiar.
Bank Nifty
Bank Nifty had a 3.3% fall yesterday but it stopped just at 10135. I have been discussing this level from past 3 days yesterday fall it respected this level.
Sell below 10135 Tgt 10030,9939 and 9848
Buy above 10220 Tgt 10297,10369 and 10459
Wipro
Wipro is forming a symmetrical triangle.
Sell below 419 Tgt 416,411 and 403
Buy above 425 Tgt 428,432 and 438
Larsen and Tubro
LT has become a high beta,yesterday fall was not backed by volumes considering the quantum of fall.