Sensex pares some gains, ends 269 points up, Nifty above 11,400


After surging 500 points in the intra-day trade, the S&P BSE Sensex witnessed a sharp fall at the fag-end of the session, mainly due to profit-booking to end at 38,024, up 269 points or 0.71 per cent. Financial stocks such as HDFC Bank and ICICI Bank contributed the most to the index’s gains while Reliance Industries (RIL), ITC and Hindustan Unilever (HUL) emerged as the biggest drags.

The NSE’s benchmark index Nifty50 closed above 11,400 level at 11,427, up 84 points or 0.74 per cent. The index hit a high of 11,487 levels during the day.

Both Sensex and Nifty reclaimed their crucial levels of 38,000 and 11,400 levels, respectively in the intra-day trade after a gap of six months.

On a weekly basis, Sensex gained 3.68 per cent and Nifty added 3.54 per cent.

Market breadth remained in favour of declines as out 2,860 companies traded on BSE, 1,476 declined and 1,209 advanced while 175 remained unchanged. A total of 59 securities hit their 52-week highs while 111 scrips hit their one-year lows.

In the broader market, the S&P BSE MidCap index ended 83 points, or 0.55 per cent higher at 15,172, while the S&P BSE SmallCap index settled at 14,837, up 51 points or 0.34 per cent.

Banking barometer Nifty Bank, too hit a fresh record high of 29,520.70 during the day. It ended at 29,381.45, up over 1.50 per cent with 10 out of 12 constituents ending in the green.

Continue Reading


Reblog: Trading Tips by Ed Seykota


If you are a trend follower then  you must have heard of Ed Seykota. Ed Seykota was first featured in the book “Market Wizards” and has one of the best track record of all time. In one of the accounts he managed, he had a return of 250,000% over a 16 year period. Comparable to the likes of Warren Buffet, George Soros and William J. O’Neil.

Ed Seykota has an Electrical Engineering degree from MIT and is a systematic trader. His trading is largely confined to the few minutes it takes to run his computer program which generates signals for the next day. I’m sure most traders would like a system that does that.

With such an amazing trader around, it makes sense to pay attention whenever he talks. So here are the 39 best things said from the man him self, Ed Seykota.

Quotes by Ed Seykota

Technical analysis

1. In order of importance to me are: (1) the long-term trend, (2) the current chart pattern, and (3) picking a good spot to buy or sell. Those are the three primary components of my trading. Way down in very distant fourth place are my fundamental ideas and, quite likely, on balance, they have cost me money.

2. If I were buying, my point would be above the market. I try to identify a point at which I expect the market momentum to be strong in the direction of the trade, so as to reduce my probable risk.

Continue Reading


Senses ends 170 points lower on sell-off in Maruti, ZEEL


The frontline indices have pared their day’s gains and are trading on a flat note driven by a sharp selloff in the media stocks.

Among sectors, the Nifty Media index slipped around 10 per cent in the afternoon trade led by a sharp selloff in shares of Zee Entertainment Enterprises (ZEEL) and Dish TV.

In the broader market, S&P BSE MidCap index was trading  0.79 per cent or 118 points lower at 14,742, while S&P BSE SmallCap index was ruling at 14,113, down 112 points or 0.79 per cent.

Maruti Suzuki slipped nearly 9 per cent to Rs 6,420 in afternoon trade after the country’s largest passenger car maker reported a 17.26 per cent fall in its net profit at Rs 1,489.3 crore for the third quarter of FY19. The carmaker had reported PAT of Rs 1,800 crore in the year-ago quarter. On QoQ basis, the figures fell 33.5 per cent. Total revenue from operations stood at Rs 19,668.3 crore against Rs 19,283.2 crore in the year-ago period. Basic EPS (earnings per share) came in at Rs 49.30 against Rs 59.56 in the corresponding quarter previous fiscal.
Continue Reading


Sensex reclaims 36,000, Nifty ends at 10,860 led by financials


Firm global cues and buying in financial and pharma counters helped domestic benchmark indices settle in the positive territory for the third consecutive session on Friday.

The S&P BSE Sensex gained 269 points or 0.75 per cent to close at 36,077 while the NSE’s Nifty50 index ended at 10,860, up 80 points or 0.74 per cent. Out of 50 constituents on the index, 38 ended in the green and rest 12 in the red.

Volatility benchmark India VIX declined over 6 per cent to 15.03, indicating lower volatility in the market.

As many as 8 stocks hit 52-week high on NSE including names such as Bata India and SPL Industries. On the contrary, 48 securities hit their one-year low.

On a weekly basis, both the headline indices rose around 1 per cent.

Continue Reading


Sensex surges 580 points on Friday on strong Asian cues; auto, banks rally


The benchmark indices settled over 1.5 per cent higher on Friday led by a sharp rise in automobile stocks amid a jump in the Asian markets which rose as China and the United States expressed optimism about resolving their bruising trade war.

The S&P BSE Sensex ended at 35,012, up 580 points (up 1.8 per cent), while the broader Nifty50 index settled at 10,553, up 173 points (up 1.7 per cent). The indices ended over 5 per cent higher this week, making it the biggest weekly gain since May 2016.

Among the sectoral indices, Nifty Auto index rose 4.2 per cent led by a rise in Maruti Suzuki, Tata Motors and Hero MotoCorp. The Nifty Bank index, too, ended 1.5 per cent led by IndusInd Bank and Axis Bank.

In stocks, the oil and gas companies rallied led by BPCL which rose 6.4 per cent to Rs 301 on the BSE while IOC ended nearly 5 per cent higher at Rs 148.

The rupee firmed against the US dollar, reclaiming the 72-per-dollar levels. The Indian currency rose to 72.53 against the greenback in intra-day trade, up from its previous close of 73.45 per dollar.

Continue Reading


Sensex rises 732 pts, Nifty ends at 10,472; India VIX eases 8%


The benchmark indices ended over 2 per cent higher on Friday after the rupee rose against US dollar amid firm Asian markets.

The S&P BSE Sensex ended at 34,734, up 732 points (2.15 per cent), while the broader Nifty50 index settled at 10,472, up 238 points (2.32 per cent).

The rupee strengthened against the US dollar on Friday, rising 53 paise to 73.58 against the greenback in intra-day trade.

Among sectoral indices, the Nifty Auto index settled 4 per cent higher led by a rally in shares of Mahindra & Mahindra and Maruti Suzuki India. The Nifty Bank index, too, rose 2.5 per cent led by IndusInd Bank and ICICI Bank.

However, the Nifty IT index slipped 1 per cent lower led by a fall in Tata Consultancy Services (TCS), which fell 3 per cent to Rs 1,920 on the NSE after the company reported a lower than expected revenue growth of 3.7 per cent in constant currency (CC) terms in September quarter on the sequential basis. The Street was estimating revenue growth of 4 per cent in CC terms for the quarter.

Continue Reading


Reblog: The 6 Stages Of A Trader’s Development Part 2


This is the second part of the article. The first part can be accessed here.

Stage Four: The Determined Trader

  1. This is the stage in which you learn to specialize in certain markets and trading methods.
  2. Without realizing it, you have finally found your style of trading after hours of hard work and research. You stick to your method and you improve it
  3. You realize that you need an edge whether its tape reading or being a Fibonacci expert. The important thing is you are slowly transforming yourself into a specialized trader
  4. You test your methods and they seem to work. You gain tremendous market knowledge.
  5. You reflect back on yourself and you can’t help but laugh at your foolishness.
  6. Although you have not made enough money to call yourself successful you are proud of your journey and accomplishments
  7. You realize that the Holy Grail is not about technical indicators or price patterns
  8. You calculate risk before profits and place strict money management on all your trades.
  9. You cut losses short and learn to scale out on your winners.
  10. You start accept losing as a natural part of the game
  11. You take high probability trades that you have tested and feel confident about your setups because you understand that trading is a game of probabilities
  12. Your psychological makeup has changed from an amateur mindset to a professional one.

Continue Reading


Reblog: The 6 Stages Of A Trader’s Development Part 1


Stage One: The Clueless Trader

Image result for clueless trader

  1. Heard of a day trader making millions, or buying options is safe and can make you rich quickly
  2. Beginner Luck in first few trades.
  3. You will buy just to see the market reverse and you will short just as the market starts to rally. Someone is tracking my trades and making me lose money.
  4. Most of your trades are done emotionally. You buy just because the markets feel strong without any logical reason
  5. You have no clue how the mechanics and psychology of trading works. What’s worse? You are not aware that you don’t know.
  6. Most traders will blow their entire account multiple at this stage.
  7. Mostly you start your trading in fag end of bull market
  8. You will spend more time finding a broker charging least brokerage.Tracking World Markets, Bitcoins instead of making a trading plan for next day.
  9. A big majority of people will leave trading and blame the randomness of markets, or say markets are always manipulated
  10. You don’t know what is short selling or have never tried it, no idea of stop loss as well
  11. You are in the unconscious incompetence stage, at this stage, your capital is at maximum risk

Continue Reading


Reblog: How to Maintain Control and Discipline in Your Trading


If as a TRADER you want to have disciplined and profitable trading, The Core Concept you need to Understand is

As a Trader, you do not have any control on the market.

Nil Control on Market

You’ve either figured out or you will figure out the fact that not much at all remains under your control as a trader. Dealing with an endless set of variables using a mind that’s geared by nature to defining constants is a tough task.  Most of traders focus on returns and not focusing on the process of trading.

Continue Reading


Sensex ends on Friday 152 points lower, Nifty below 9,600 as investors book profits


The benchmark indices settled lower on Friday as investors booked profits in financials such as State Bank of India and auto makers such as Maruti Suzuki India. The negative trend in European and Asian markets also impacted the sentiment.

The S&P BSE Sensex ended at 31,138, down 152 points, while the broader Nifty50 settled at 9,574, down 55 points.

In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices shed over 1% each.

Market breadth depicted weakness. There were more than three losers against every gainer on BSE. 1,936 shares fell and 683 shares rose. A total of 137 shares were unchanged.

For the week, both the indices logged small weekly gains on hopes the Reserve Bank of India will cut interest rates after minutes from a monetary policy committee meeting earlier this month showed one member acknowledging that inflation had eased.

Continue Reading