Some Tips for Intra day traders

1. Please do not enter your trade order in range bound or trading market means if there is no move then keep safe your money for next opportunity .

2. Please do not miss the chance ...If you are confirmed that market is moving upward go long immediately and if market is going down ward then go short and you will definitely get the chance to get a good return .

3. Make sure you are using strict stoploss whether it is mental or mechanical but it must be there and mine suggestion is use mental stoploss written on the paper and if price trades below your stop loss order for more than 5 minutes when you are long in trade than please exercise it but please remember that if price again moves to your entry buy price level then you must buy it for same targets .

4. So in short trades if price trades for more than 10 % above your mental stop loss order then please square off your position and closely watch the price and place the sell order for same trigger price at which you ware shorted initially .

5. Remember that to lift the prices up some additional force or pressure is required but when price falls , it will fall by its own weight means down trending markets will give you more and more gains in compare to up trending markets .

6. you must learn some basic technical indicators if you are really interested in day trading .

7. If your trade is going south ward then exit from it ASAP because sailing in sinking boat is harmful for the sailor .

8. please do not add to loosing position to average the cost just exit and accept the loss .

9. If you lost 10 out of 100 trades then no harm you are still winner on 80 % trades.

10. Always use trailing stop loss to protect your profits .

11. If you are confident about the market and scrip trend then use the margin trade to boost your return.

12. Always trade in the scrip which is following market direction means if market is in uptrend then trade in up trending scrips and if market is bearish then trade in down trending scrips.

13. Please never enter in the stocks which are having low volumes otherwise you will be trapped and wont be able to escape from that easily.

14. Please do not roll over your intra day trades to delivery trades thinking that your loss would come down in next session it may convert to huge one too.

15. Opt for intraday trades if you like sound sleep and healthy and tension free life .

16. please follow the trends as there is a saying n market that trend is your friend.

17. Please develop your own trading plan as per your personality and mental attitude plus life style and improve it bytrial and error method.

18. Place orders in lightning speed but with accuracy otherwise your single mistake will turn your joy into sorrow and you might have experienced it at least once in your life where you placed wrong order means sold the stuff in a hurry where you wanted to buy it and like that.
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nifty levels for 23/02/2010

161.8% Upper Retracement Level	5012.473
Upper Value	4926.88
61.8% Retracement Level	4873.973
50% Retracement Level	4857.63
38.2% Retracement Level	4841.287
23.6% Retracement Level	4821.066
Lower Value	4788.38
161.8% Lower Retracement Level	4702.787

Support /Resistance

Support / Resistance Basics

Support , Resistance and pivot points are three words which are used in mkt frequently. Pivot is calculated by adding high ,low and close price of previous day and divided by 3.So you may say pivot is an average price of previous day trade and if price opens above the pivot point and mkt is bullish you may opt for long trades . But how long …where to exit ??? You may place your exit order or profit target based on resistance levels..
A support level is a price level at which sufficient demand for any stock appears to stop or hold downtrend temporarily at least and chance of possible reverse from this level. And a resistance zone be the same is a price level at which sufficient supply of any stock is available and stock may turn back from that point.
Price movement either up/down is a result of a head-to-head battle between a bull (the buyer) and a bear (the seller). Bulls push prices high, and bears lower them. The direction prices actually move shows who wins the battle.
Support is a level at which bulls (i.e., buyers) take control over the prices and prevent them from falling lower. 
Resistance, on the other hand, is the point at which sellers (bears) take control of prices and prevent them from rising higher. The price at which a trade takes place is the price at which a bull and bear agree to do business. It represents the consensus of their expectations.

Support levels indicate the price where the most of investors believe that prices will move higher. Resistance levels indicate the price at which the most of investors feel prices will move lower.
One of the most-common and best-known trading strategies is this: "Buy at the support level and sell at the resistance level." The significance of the support level can be understood this way: Imagine that on a given day, for some particular reason (or by sheer chance) a stock is traded very heavily at a certain price level. Also imagine that many traders remember this price level because they bought or sold the stock at this level. Next, suppose that the stock price first moves up away from this level and, later on, (for some reason or no reason) the stock price trades back again to the earlier level. Traders who previously bought the stock and sold it for a profit would likely buy it again at this level. Those who previously sold the stock at this level and missed the recent run-up would have a chance to buy it back. Such buying activities usually slow down the drop and may reverse the momentum. At least, the stock price may take a rest at this level before moving in a new direction. We can then say that the stock price has hit some "support level," by which we suppose that it most likely will not quickly drop through it. The sensible trading strategy is, of course, to buy the stock near this support level, monitor it closely, and sell it to cut losses if it falls meaningfully lower than the support level. If the support level does prevent the stock price from falling and it starts to bounce back, the trader can make a nice profit that is usually much larger  than the amount of loss incurred if the trade turned south and loss had to be limited  by placing a stop loss order .

Resistance becomes support

When a resistance level is successfully broken through, that level becomes a support level. Similarly, when a support level is successfully broken through, that level becomes a resistance level.
The reason for it is that a new "generation" of bulls appears, who refused or missed the opportunity to buy when prices were low. Now they are anxious to buy at any time the prices return to the previous level. Similarly, when prices drop below a support level, that level often becomes a resistance level that prices have a difficult time breaking through. When prices approach the previous support level (now acting as resistance ), investors seek to limit their losses by selling their holdings and thus the role changing remains intact .

trade tigers performance

EOD Chart IBREAL

now the time is tiger vs cow not bull vs bears

nifty levels for 22/02/2010

161.8% Upper Retracement Level	5017.464
Upper Value	4926
61.8% Retracement Level	4869.464
50% Retracement Level	4852
38.2% Retracement Level	4834.536
23.6% Retracement Level	4812.928
Lower Value	4778
161.8% Lower Retracement Level	4686.536

nifty levels for 19/02/2010

161.8% Upper Retracement Level	5042.948
Upper Value	4928
61.8% Retracement Level	4856.948
50% Retracement Level	4835
38.2% Retracement Level	4813.052
23.6% Retracement Level	4785.896
Lower Value	4742
161.8% Lower Retracement Level	4627.052

nifty levels for 16/02/2010

161.8% Upper Retracement Level	4946.206
Upper Value	4843
61.8% Retracement Level	4779.206
50% Retracement Level	4759.5
38.2% Retracement Level	4739.794
23.6% Retracement Level	4715.412
Lower Value	4676
161.8% Lower Retracement Level	4572.794