Sensex is now getting into the resistance range of 16800-17200 which was the target range after crossing 15950. Traders who had used the rally to make good longs should book partially and keep trailing stoplosses and rotate cash by booking over run stocks and again put it into other over sold stocks for bounces.16500 is a near term support. Yet again indices may not do much but stock specific moves would continue for some time.
Stocks to watchout for :
The 3 stocks shree digvijay , guj siddhee , Pochiraju pull up 5% much more left …..
Spicejet above 43 , Ind Bull realty above 522 look good for a quick 10 % bounce
Kolte Patil looks good above 116 for day traders .
One more question and answer from the book ….
Any other stories come to mind about traders you tried to help,but who ultimately failed?
A few years ago, a man who attended one my seminars called me for advice. He told me that he wanted to become a full-time trader but had been unsuccessful so far. I gave him some advice about devising a business plan for his trading. He called a couple more times for additional advice. On one such call, his voice suddenly dropped. “I can hardly hear you,” I said. “We must have a bad connection.””No,” he whispered, “my wife just walked into the room.” “She doesn’t know how much money you have lost, does she?” I asked. “No,” he admitted. “You have to tell her the truth. If she doesn’t support you, and you are fearful of her, nothing I teach you will help. If you keep trading secretly, one of two things will happen: you will lose all your money, or you will lose your marriage.” He didn’t listen to me, and he ended up losing both.