Today I lost Rs.3000 for trading too many times despite the market being at same place. Small volatility of 15 Points is giving me a panic. What has happened to me? Small volatility is making me to panic despite having experience for 5 years. I'm thinking too much and that is the reason for stupid behavior. At this point of time, I've decided to shut down my computer and planned to read a book written by the Great Martin Zweig titled Winning on Wall Street. I'm looking like a fool and believe that my thinking has been too much erratic in the recent times. Only way to stop this is to stop trading and start reading books. If you are in relentless pursuit to do something in a market, you would probably lose money.
Wednesday, March 20, 2013
|Symbol||52 Week High||52 Week Low||30||50||200|
I put up this data before couple of weeks and took positions and made some profits and also booked few losses. Over all most of the Nifty stocks looks bad and have been trading below 200 day simple moving average.
IT sector is the stand out. Sun Pharma is a clear winner in Pharma sector. HCL Tech, TCS, Infy and Wipro are looking strong. Banks looks very weak. Reliance Infra is the weakest stock in the index.
I don't know why the hell NSE is having Asian Paints in its index. Volumes are very thin and float is minuscule and it could be easily manipulated.
There might be some bounces, but it should be used as a selling opportunity. I'd be a buyer only when index closes above 52 week high.