Important for daytraders

[anupam2233]

DON'T go long any stock opened too high from its previous closing
but....
If u see the opening price and opening low remain same.... in that case may go long but stoploss will be the opening low

opposite theory will be applicable in case of short.

waiting for your feedback

cheers

Anupam

[doctorrahul]

thanx for the valuable tip anupam

[s chhipa]

DON'T go long any stock opened too high from its previous closing
but....
If u see the opening price and opening low remain same.... in that case may go long but stoploss will be the opening low

opposite theory will be applicable in case of short.

waiting for your feedback

cheers

Anupam

[ktpillai]

[quote=anupam2233 ]
DON'T go long any stock opened too high from its previous closing
but....
If u see the opening price and opening low remain same.... in that case may go long but stoploss will be the opening low

opposite theory will be applicable in case of short.

waiting for your feedback

cheers

Anupamu r correct but with a small modification provided the indices should trade in green.in such circumstances it is claimed there is either short covering or purchases going on.alsoverify what is the position in Bse.It may be alike or different.also the opening &low may be greater than previous closing or lower than previous closing.If the BSE tells a different story then what u say may not hold good. pl compare both BSE & NSE before taking the decision

[sank125]

thank you for your valuble guideline for intraday traders

[Mustirocks]

Great thanks Mate.

Could you explain the same with an example which will make us understand better

[anup0212]

hey anupam,
what do u mean by opening pricr n opening low...coz we we come to know what the low n high was only after the day's session ends..i mean only after 3.30.....it wld be gr8 if u cld explain it with a n example as said above.......

[anupam2233]

thanks to all for your feed back..............

let me explain......

at 10.00am u see .......

open--- High--- low---- Last tradedprice---- pervious close
100 100 98 99.05 97


never go long for that stock.........

as there is a gap up open
and high=open
high possibility to go downwards... (80%)
but if that could break its opening high..... there is a high possibility of upthrust...... then go long -- sl wll be naer its open say 99.50

....... opposite for short......

thanks again

Anupam

[gmg9]

great info, will help a lot for new investers like me and many others on this wounderfull forum.

thx a lot anupam.

[gmg9]

hello, anupam, me again.
this time i wanna know about how i will go for trade on Nifty ( i mean the index). i heard about that but dont know how o do it.
can u plz guide us.
i have a account on sharekhan. i am completely novice about this type of trade.

i post a msg on ' nifty ' on ask ur quires forum.

[puthuraja]

Dear anupam sir,thank u very much for ur valuable advice.its really true i have my own experience on this point.

[luckylad]

Thats a very valuable tip.. thanks.. One query for me is , on what basis we put a stoploss? That is, how we can judge at this price, say X, we can have stoploss?

[sharmasaab]

Excellent article sir thank u for teaching us novices the tricks of the trade