12/06/2020
Hi Friends
Some Important Valid Questions which i have been receiving on my whatsapp / facebook messenger:
I thought to clear all of these through a post, so that at least all followers / traders / clients can get a sense of understanding.
Please forgive me for my english.
1. Sir, Is Nifty Up? Are we trapped?
Ans. If you are on sell, then you are not trapped. Trade with precision.
2. Sir, I didn't book Bank Nifty in the morning at 19600-800 levels, thought it will go down further.
Ans. Its a mistake. 1200 Points Profit in Bank Nifty is not a joke. If you would have booked, you might have got another opportunity to sell it at 20400-500 levels. Opportunity Lost.
3. Sir, I sold Nifty at 9770-9800 Levels. I didn't kept any SL. It closed at 9942. What should I do?
Ans. Nifty levels are as follows. 9840 - 9770 - 9640 - 9560 - 9460. Levels are meant to be respected. It filled the gap it created few days before between 9400 and 9600 and reversed back.
4. Was it a bull trap or a bear trap?
Ans. It can't be said as a trap for an investor or a weekly trader. For Intraday traders, who traded with over confidence - even 200 points opposite direction is a trap. So trade with precision.
5. I have sold SBI, IndusInd , Reliance based on your sell recommendation. But didn't booked profit. What should i do sir?
Ans. I have clearly instructed to book IndusInd 40 rupees per future lot. It now closed at 528. For you, Opportunity lost. Reliance clearly mentioned, sell recommended near 1579 and it touched 1500 rupees. Closed at 1588. If still holding stock, then keep it with SL 1640. For SBI - continue to sell for 160 rupees target. But sell near 185 only. An opportunity lost today to book at 170.
Overall, It was a good trade for positional traders who sold on our recommendation on 11th June and booked early morning on 12th June (Today). For people who took positions around 11 AM today, if thinking Intraday perspective - loss should have been booked, but positionally market will go down.
Try to understand the dynamics of the market. Market never give money easily. Persistence, Perseverance & Focus can yield results in market.
Follow that, you will always stay on safe side of the market.
Take care,
Skyline Research