Nifty outlook and trading levels for 08 Jan 13

Bearish engulfing after hanging man
1 more red candle can not be ruled out

Flat to negative opening is expected with negative bias...after gap up opening  last  day , nifty was under pressure whole day and bulls were not there to defend any level so that nifty ended  below 0.5 % finally .
Sell  on Each swing high till  Nifty Futures will be trading  below 6031...
Trade in Nifty futures as per these levels
Buy at / above: 6031   Targets: 6048 - 6069 - 6089 - 6112
Stoploss : 6012
Sell at / below: 6012   Targets: 5994 - 5972 - 5953 - 5936
Stoploss : 6031
 Possibility of profit booking was spotted  well in time and   advised to  sell  nifty -35 points
http://www.dhanvarsha.in/2013/01/35-or-more-nifty-points-gained-on.html
bank nifty- 70 points
http://www.dhanvarsha.in/2013/01/70-bank-nifty-points-in-intra-day-call.html
 tata motors - 4 points
http://www.dhanvarsha.in/2013/01/tata-motors-traded-as-advised.html
 and ICICI bank ...
BEML  buy advise too worked well traded at high of 289.90
http://www.dhanvarsha.in/2013/01/buy-beml.html

When the market goes against you, you hope that every day will be the last day - and you lose more than you should had you not listened to hope. And when the market goes your way, you become fearful that the next day will take away your profit and you get out - too soon. The successful trader has to fight these two deep-seated instincts.

The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get rich- quick adventurer. They will die poor.

quotes from Jesse Livermore 

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