By Technical, there is a short call in gold,But risk reward ratio does not match

By Technical, there is a short call in gold,But risk reward ratio does not match.

So avoid trading, Strictly avoid Long in Gold, as we might be seen new low of than the previous low of 1321.

Gold ETF funds are continue selling (selling is not in big quantity but they are not purchasing so there is no electronic demand.)

Don’t overtrade today

Don’t overtrade today, as market may trade in narrow rangebound , Give fake breakout signal (as it is an operator game).

don’t go agressive short or long,

i don’t suggest option trading today, as put call ratio in coming down.

there is a posibility either negative close or short covering rally in last half an hour.I am expecting negative bias  for today only, expecting gap up opening on monday, if market close negaive today.

Our 1st Target hit in GOLD Short Call, now almost Near 2nd Target nof 1392, Low made 1393.86

1st Target hit in GOLD Short Call, now almost Near 2nd Target of 1392, Low made 1393.86 on 8.10 PM, low risk traders can book profit here CMP 1394.60

positional risky traders can hold long position with modified Stoploss of 1400 on closing basis.

BUT personally I suggest book profit here, & wait for small bounce, where we can again create new short position.

On Comex $1400 is the technical as well as psychological support so fresh short should be below that or near retracement (bounce).

* call followup posted on 8.16 PM, 15 May 2013

Fear is the biggest Market Mover !!

The rally we are watching is not because of fresh buying…. its a short covering rally by retail / small investors / traders.

i don’t see much more upside than 6350 in NIFTY,

Where FII can easily Sell all midcap, smallcap stocks to small investors & get all fund back.

so advising to all small investors, Don’t be a victim by purchasing those smallcap midcap stock.

this is not a buying level…

& off course not a shorting level…..

will be short around 6350 on index & selective stock futures………

 

Don’t get fools !! some parrots are singing the buy song…….

wait n watch… till the indication by trend….!

Art of Trading

* Always Trade in that Stock / Commodity which has given breakout on eitherside, not in that Stock / Commodity which you love to trade….!

There is a chance to get handsome profit & possibility to loose minimum amount, if you trade in that Stock / Commodity which give technical breakout on chart.

BUT there is possibility to loose much more amount, if you trade in the stock / commodity which you love to trade, when the Stock is not giving any signal.

So its better to follow the signals,

* Don’t fight with trend!

* Don’t Marry with the Stocks…! always keep booking the profits……….

* Going Fundamental is too Good, BUT there is a lack of the source, which provide genuine & Right time fundamental news to us, So we have no any better option than technical.

 

Am cautious on market..

market can touch new high in coming days, if mansoon comes early…….

but it might difficult to say that will market stay at that level???

there might be seen an operator game…….& small & Innocent investors might be again trapped very badly………

so friends! don’t go aggressive long/ short……!

parrots are always spoke about new high………..but we want to decide is it right time to buy???????