Market Weekly Diaries
26-28Th March 2018
Performance Should Speak is the Mantra
My Performance for last week -Do read market diaries for the reference
https://m.facebook.com/story.php?story_fbid=354264468415515&id=333468650495097
The Rest is History
I don’t want to put a badge of honour for the analysis
Market is Above all, it is the Supreme and Big Boss, every minute is Unique
Take Good & Bad Days equally- is the lesson learnt from my GURU @ carudramurthy
Coming to lessons and experience of mine for the week
Disclaimer – This Article is for my learning Purpose, Consult your Financial Advisor for the Recommendations and Trades
Weekly High was 24588, Weekly Low was 23605
Weekly Close for BNF is 23670
Check my Support reference number of last week article –it was around 23660, Friday close is 23670
Past is History and Mystery
Now, whats the Plan for the Next week- It’s a monthly Expiry week
Bank nifty is in clear downtrend, BNF Very Important reference point or range to watch for next few weeks is 23220 to 23880
From the above levels, market will bounce, if they don’t respect the above reference, then there is deep problem
We are @ the lower end of the range for the next few weeks, be cautious
Next week, we have 2 holidays on Thursday and Friday, we have 3 working days
Any close below 23560 on Monday and Tuesday, will break the bulls backbone for the month and we may head near monthly lows for the expiry close
Million dollar question is how to trade
Analysis is 10 %, Executing the trade is 90 %
Decide, first which timeframe is yours, before the trade and act accordingly
Global Markets are in bloodbath, due to all the concerned news from Face book to Trump to Indian Scams to Trade wars
End of the Day, we need to be slave to Price action,
Support for the week
23470, 23300, 23180 & 22980
Resistance for the week
23740, 23890, 24050 & 24330
Take Day by Day
Last 4 days, the range between high and low were moderate, compared to historical data
Have a look on global markets, how they would act each day, that gives us clue for our market direction
This Quarter (yet to finish) BNF is down over 7 %, After Modiji sworn as PM,this is the highest downfall
For the Month, we are down 5 % in BNF
We are heading down ,that’s a certain, but markets won’t fall vertically ,it will bluff by moving up, down ,up and down, till our investments reduces to zero and then moves accordingly
Analysing where to buy and sell is useless, if we don’t execute properly
Above that, how much to buy and sell is very important than buying or selling point
Above that, how emotionally we react to markets is much more important than above both
Let me execute the plan as per the analysis, will catch up next week on BNF weekly Dairies
Trade less
Trade from Savings money
Sagar U.S
