I can very much understand why you don’t feel safe trading at those levels against the current trend.
The only thing you need to be reasonably sure about is whether the market is currently moving sideways. If it is moving sideway, then even if it moves up and down, it’ll tend to come back towards the mean level - so taking reverse trades at extreme prices tend to make money.
On the contrary, it is definitely possible that prices will continue to move in that direction, causing you a huge loss.
But one suggestion is try not to close positions in hurry unless you are in big loss. Even if prices dont move in first few hours, there is almost always a good move for the last hour or so.
Booked an early profit of Rs 3200 between 9.20 am - 10 am. But, ended up with Rs 1500 profits (closing position) after reluctantly refusing to exit. Early exit is extremely difficult!
Sir can you tell me how you got this BankNifty … So, you BUY ar Rs 12? I used to think that BANKNIFTY were costing thousands of rupees. I want to trade this for tomorrow if possible … Weekly trading diary : November 2017 Week 4 : 20 Nov - 24 Nov
Shorted PVR NOV FUT around 1320 , holding the position. just a day before i was bullish in this stock had long position but due to new developments had to book loss of 5k and changed side.
I see most of us deal in NFO… i seek here for some intraday positions also. usually i see movement by 9:30 and do in top 10 holdings of NIFTY . exit by 1 or 2 profit. want to know more clues