Why JSW Steel fall drastically today(Intraday)?

You are looking at a 1 minute chart. JSW steel is just down by .3%
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Yeah, what I was asking that it was trading green, but @ 10:10, it begins to fall sharply, was there specific news for its decline of nearly 0.4%, within a single stroke
(For Intraday Purpose)

You need to take training in ADANI group stocks before looking any other stocks

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I didn’t get your point about ADANI

Look at daily charts of ADANI Enterprises, ADANI Power, ADANI Transmission. for last one year

looks like everything is fine with JSW Steel(Technically it was very strong, in my analysis), but it was NIFTYMETAL which dropped instantly


Any specific news for NIFTYMETAL???

If this is drastic then look at DHFL for a while. Intraday fall without any reason.

That is markets,nobody can guess.when we are in aposition it thinks to move but when we are out of market it moves in big way…

All the Technical indicators /price showed/warned in advance , decline in JSW Steel , look at the sample chart , this is an expected move

Very True, it is a drastic move
But it was a shock for me as a newbie, I was practicing with small number of shares and I was consistently winning my trades but when I tried a larger number of shares, I learned something new that we have to ready to face loss (That move wiped all my profits)
Did I put stoploss?
Yes, I did.
Anyway I am just trying to understand why this happened
Any Idea why such a sudden move in DHFL?

Are you using MACD for a Day?
If not, then which indicator is it?

I crosschecked my strategy, and it was working fine
Hope you can teach me something new :slight_smile:

Yes it is , MACD, on daily chart, MACD with simple moving averages are used, i think you are a day trader or new to Trading , so i am posting it, Initially i too faced the same problem what you are facing.
for day trading it is better to know Stocks/Market are in what direction , Trending or Trading.
regarding JSW steel , if you look at the MACD cross over and price cross down below Moving averages , its clear that in JSW trend is down
check todays price of JSW down more than 2%

I got your point
Thanks

Did you mean that we need to look at the 1-day chart as well for intraday trading?

Of course!! for example Bharat forge started moving from yesterday, negated its down move , in case of Infratel if you look at the day chart, Infratel is still in a up move, This also helps to find out the gaps down or Gap up move.
My examples are not " Recommendations" :slightly_smiling_face:

It has created confusion for me

(I created this new topic, after your opinion), and since then I did not take any new position except for single option trade

Ok Actually day trading is difficult, try to understand it, just look at chart of Crude oil( m) ( day & hourly) it may answer your question
I am just giving my opinion , try which one works better for you, before taking actual trade

  1. use 15 min chart for entry & exit
    2 for day trading use 30 min/ hourly chart to know trend of the particular day
    3 Use day chart for to know the main trend of the particular stock
    do not rely only on one chart indicators, cross check with other indicators too.

Yes, I’m doing it