Monday, October 19, 2009

Market is the biggest teacher

Hope you all have a nice weekend.
Markets are trading at the new high of the year and most of the participants are skeptical about this rally and when majority of the participants are predicting for corrections ; markets do not correct .What strategy one should follow then ? Well, I usually tighten the stop and use some sma of 9-12 days just to lock my profit. You should also fine tune some strategy of locking in your profit.
Kenny Rogers used to sing, “Don’t count your money, when you are sitting at the table, there will be time enough for counting, when the dealing’s done.”
markets are still in strong uptrend. Some of the swing trading ideas are given below. The sectors to watch for are Banking , Realty, Sugar and Cement .

Anant Raj Industries : Support 143 Resistance 180-188
Dhampur Sugar : Support 103 Resistance 130
Union Bank Of India : Support 265 Resistance 300-325 ( Trading at All Time High )
Gujrat Alkali : Support 125 Resistance 160
Prism Cement : Support 47 Resistance 58
RCF ( Rastriya Chemical) : Support 70 Resistance 83-89

These are some of the ideas from different sectors . Banks are looking strong on charts particularly PSU banks. Yes bank is also looking strong . Lets see how these ideas work out in the coming week.
Will keep you updated .
Have fun in your trading and learn to cut the loosers and stay with the winners.

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