Day trading does not mean you have to trade every day…… to day trade, one needs a strong mental setup…. otherwise a day trader gets burned out in 2-3 years…… Think over…
Don’t spend whole of your time staring at charts…. instead you can keep the screen open and do some alternate work.. Learning of some art… reading some books…. any other creative activity…. you can do it alongwith daytrading….. otherwise both the trader and the creative person within you will die very soon…. don’t forget this….. I can’t emphasize enough…
Lets start with what he had on the table for today…
Nifty 5 Min chart
One short trade after the -ve divergence and as I stated several times earlier, high and low of the day always remain crucial for day trading……. Then, once you see that big green candle at the bottom of the day, you can take a long entry by reversing your short trade…… the stop below the bottom of the day… That’s all over….
Always look for AA+ set ups….. it will benefit in both ways… your confidence as well as trading a/c balance will be going up substantially…
Hourly chart…. we have a bullish engulf… just see how stoch and price go together….
Nifty hourly
On a daily we have a piercing pattern….. That does not mean we have a reversal… As of now, it remains just a pullback…
Now……. you need to find out the first level of resistance…. that’s for your homework…
Nifty daily
4xraghav 
Hello Raghav,
It would be really very great if you share nifty levels in the morning for sometime if your time permits… I mean till we used to get into that …
thanks a ton
me too missed last long trade…….
Also Raghav I do face problem finding support/resistance (from last 10 day I seen that if I find S/R correctly…I would have made some good trade)
How do overcome with this problem…
thanks
The solution is here..take out old charts of your timeframe…100,1000 charts.. and see ..how price behaves at a particular point…see why price bounces back from a particular levels….How daily chart affects resistance and support…..and more….that’s the only way…..observe…observe..observe….practice…practice…practice…
thanks raghav
Thanks raghav for sharing model trades …….Though I today take 1 shaort entry @10.30 low and another one where you marked …but missed completely the long trade…..Your posts in this blog really helping a lot…..
Also abv said problem is my problem …:) Don’t spend whole of your time staring at charts…