01 September 2016 Trading Plan

I use Tradetiger for my trading. Its pretty good for charts.

Daily Chart on 31-August-2016 for Nifty

Nifty had gained more than 109 points..

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Its nearing to all time high

 

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Tomorrow market might be bit sluggish or positive depending on the news. You can see it closed above the resistence.

 

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Stocks to trade tomorrow

 

These are the list I got after running the scanner.

 

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1. ARSSInfra

Current location in Daily chart is in Supply hence it can get shorted.

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In the 15 Minutes chart

I see negative divergence. Hence I would short it tomorrow.

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2. Aegischem

Overall its a up trend, It has hit is resistence, Need to see whether it will break out.

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If it comes down would like to buy at 123.40 as it has good demand zone

 

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Also would like to enter at 129.40 as there’s a good demand zone in 15 minutes chart.

 

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3. Chennai Petrol

This has good up trending chart with no fresh supply. Hence can go up.

 

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In 15 minutes I don’t see any fresh supply and demand zone. If Nifty is doing good then would enter this stock.

 

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If any other good stock I’m able to find, I’ll update.

 

Plan Executed

 

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Had loss of –267.

Nifty was down today.. So there was lot of trade done on emotion basis, This I need to avoid. I just traded 1 stock according to plan which turned out against me.

 

Tomorrow I’ll try to stick to the plan.

Learned from few videos about Fibbonacci retracement but was not able to successfully do it in tradetiger.

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Author: gmk

Please visit http://georgemkurian.com/about/

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