The Indian Share Market is Showing everyone why people call it the risky bet.
Risk hai to Ishq hai.Harshad Mehta
This great quote by the “Bacchan of Dalal Street” seems to fit perfectly in today’s market.
So what will happen tomorrow in Indian Share Market?
To know the answer of this question we have to first understand what happened today and what happened in the past.
So First of all let’s take a look at the today’s market.
As you can see, today market opened with a big gap up. So many traders were thinking that after this big gap up, market is likely to come down, so they took a bearish trade.
But little did they know that market was in no mood of coming down.
In just 2 -3 candles the market ate so many stop losses that one could ever imagine.
Traders were watching big losses. They started praying to save their capital money. But nothing worked.
In the 5th candle the market started showing some bearish movement. That red candle gave hope to many PUT buyers.
But that happiness didn’t last very long. The 7th candle started hitting stop losses while going up against the PUT buyers.
In that case, what would we have done?
1. Stop Loss.
First of all, always use stop loss according to your risk apatite.
Some traders can take risk up to 100point some stop the risk at 30 points. You have to know how much loss you can take. Then plan your trade.
Always and always plan your trade. Don’t just go for your gut feelings.
Keep a closer look to the chart patterns, candlestick patterns.
Keep in touch with current news going on that can affect the market.
If you have followed just above two steps successfully, then there is just one thing left and that is waiting and watching.
Once you have taken a trade, just sit back and relax. Even if your stoploss is about to hit, there is no need to panic because you know how much loss you can take.
There will come times when you will continuously take losses. Then you have to change your strategy.
Never change your goal.
So about tomorrow –>>
To know about future you have to analyze big time frame data.
In my case I like 1 day time frame and 1 week time frame.
So talking about 1 day time frame.
Market seems to open flat or slightly negative and can show a negative sentiment tomorrow.
According to my analysis, a big bearish movement is on the way.
So keep your eyes on daily time frame chart of nifty.
Let’s see what happens tomorrow.
Till then Keep calm and Keep learning.