Predicted Valuable Stocks of April
The first half of the April series can see a pullback short covering rally, therefore strategy should be to buy the dip for a pullback rally in the first half of the April series.
The Nifty has bounced back after taking support at the 38.2 percent Fibonacci retracement level placed at 9930 and RSI has formed a positive divergence which suggests more short covering rallies in the first half of the April series following which Index can enter into a narrow consolidation range or resume corrections.
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The first half of the April series can see a pullback short covering rally, therefore strategy should be to buy the dip for a pullback rally in the first half of the April series.However, a correction cannot be ruled out at a later stage as the overall trend remains weak at the moment.
The Nifty50 Index is trading below its 200-DEMA and 200-DMA for the first time from January 2017 onwards as it lost 3.61 percent in the month of March following a cut of 5 percent in the month of January.
Moreover, whenever the index breaks its 200-DEMA and 200-DMA following a prolonged trade above the averages, it tends to flirt around these averages before witnessing the next leg of correction.
However when you day trade, the luxury of time is taken away from you. Each day the scores are settled, forcing you to be fair and square for the day. This makes day trading a very tough profession, with a need to be highly consistent and disciplined.
Needless to say if done right, day trading can be highly rewarding. If you are getting started on day trading, there are a few aspects that you need to bear in mind.
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