Indian Share Market broke the zone to the upper side.
Yes, the same zone that I was talking about yesterday.
I know I told you that there is a high chance of breakdown due to that zone. But there always was a possibility of a breakout. And that’s what happened in the market today.
The First Candle–>>
The first 15 min candle was enough to tell us that the market has given an upside breakout.
This was the confirmation that the market will not come down today. And that’s what happened.
The market was not ready to give us any chance to take a trade. As I have already told you in my previous post that we should not take any breakout trade without a proper retest.
So everyone should wait for a proper retest and then take a trade with the proper target and proper stop-loss.
How to Trade Intraday–>>
Although it’s a big topic to cover, so I will make a new dedicated post for this topic. So please keep following this page and you will keep on learning new things.
So to take Intraday trades, you have to first choose a chart time frame.
You can go for 1 min time frame for multiple trendlines.
One can also go for 5 min time frame which is good for confirmations for breakout or breakdown.
But above all, the main thing is to keep practicing before taking a trade.
We can do paper trading before directly jumping into the trading and using all your money.
So as I have told you market has given an upside breakout. Which is a good confirmation of a bullish movement in the market for the upcoming days. But we can not be 100% sure.
For the next trading day, the market can be a little bullish until any bad news strikes and kills all the bulls in the market.
As we all know, a new coronavirus variant “Omicron” is spreading all over India. Which is a really bad sign for every business as well as individual in India.
So don’t take any risky trades, and always trade with a proper stop loss.
If you trade in Index options then try to exit all positions on the same day, because holding an options position can be very risky in this market.
For learning purposes, if you want any stock-related suggestions from me or any kind of topic you want to learn, do let me know in the comments. I will read all the comments and personally reply to them.
I will be posting some best strategies for a different types of trading in the market.
We will post about different candlestick patterns and chart patterns.
Upcoming days will be amazing for learners.
So keep in touch with us and we will not let you down.
If you have any suggestions, thoughts or complaints please let me know in the comments.
Till then bye-bye.
Keep calm and keep learning.