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Calling stock and commodity market enthusiasts

Not holding any long positions. Had short Banknifty in the morning. Covered during the day. Have not exited any delivery positions.

@Geralt you using spider or falcon? MACD and RSI?
good idea, overnight long felt too risky, sometimes these gaps are so far off your stops you don't even get a chance to gracefully exit, seedha kick in the nuts milta hai ledger ko :sick:

but US stocks are rallying in early trade again, let's see how they end the day.

yes, lower indicators are macd 13,34 and RSI, no software, I'm using the icharts website.
 
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Great. Now Steve Nison is Japanese candle sticks. This gives you primarily price action happening in the markets. If you are learning, go for the CMT. They have a ready made syllabus. With Steve Nison, you will need to combine western techniques. These are possible to be found in Martin Pring and Magee and Dehlinquist.

With respect to support and resistance, I would tend to go with what your friend and what Nison says. In fact, thats what most books say. And from experience, it works. But, I would suggest you try it on your own.

How to do it.

1. Get the data and software
2. Define the amount you are going to invest and the time frame you are going to invest for.
3. Select the time frame, based on your investment horizon.
4. Select the line chart. Observe how its trending. Select candle sticks and watch how the charts are moving.
5. Now, based on what you are seeing form a strategy. Test the strategy.

Now try combining a simple thing like an EMA or MACD with Candlesticks.

What you also need to understand is that, trending and trading markets have different strategies.

@Armstrong

Let me also, put forth this.

When babyquips says closing, he may say its for starting a position. So you do not enter a trade until a particular event results in actual overnight positions, which are stronger than intra day positions. When we use support and resistance, it can be to exit a position with a stop loss also. But, this is something you would need to study for the give scrip. Each scrip can work with different indicators and time frames.

Itni Mehnat

My degree is in Finance and i have been trading since i was 18. The conclusion that i have come to is, if this is not your sole source of income, keep it simple and invest in Index Funds. ETF's are a God send for people like me, simple, solid returns and low management fees. Gives you exposure to almost every possible sector you can think of with good liquidity.

Why put in so much hardwork, invest passively and let the others do the grunt work for you. Enough studies have been done that these Funds on a whole tend to outperform the market.
 
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My degree is in Finance and i have been trading since i was 18. The conclusion that i have come to is, if this is not your sole source of income, keep it simple and invest in Index Funds. ETF's are a God send for people like me, simple, solid returns and low management fees. Gives you exposure to almost every possible sector you can think of with good liquidity.

Why put in so much hardwork, invest passively and let the others do the grunt work for you. Enough studies have been done that these Funds on a whole tend to outperform the market.

It is my primary profession :), hence, the attempt at hard work :)

The problem with funds is that, they have to follow restrictions. Both from the regulator and internal regulations. Let me give you an example:

a. Regulator says a fund cannot have more than x% exposure to a given stock out of its total fund corpus. So, if the fund has invested its % in a stock, it cannot increase its investments even if its doing well. It has to invest in some other scrip.

b. Most fund houses have internal guidelines, which, will tell them that they should invest in a company with a given share price or size or abc. Unless, they are emerging opportunities funds.

Though, I would agree that most people put their money in an SIP simply because they think the markets are risky. But, if they were to spend a couple of hours a week, its worth the effort. Especially because information is available today. Not like it was in the days of our parents when everything worked on tips.
 
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Hows the US market doing? Buy low?
one can never time these things perfectly, it could turn out to be a case either trying to catch falling knives or picking cherries.. based only on price movements, probably best to exercise caution for now unless you have a 5+ year horizon, in which case you better study your investments and take an educated gamble, or get some pro advice..
 
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@Geralt @surya kiran @MilSpec@SpArK

Whats your opinion about Manappuram finance.Its doing well now. with P/E of 6.88 against 21 (industry average).

Near 52 week low, last qtr results are good and the most importantly almost 8% dividend yield.
 
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