Morning News 27-07-2017

The telecom industry, including state-owned firms, and major banks have apprised the government about the financial stress. Revenue collection from telecom services in form of licence fee and spectrum usage charges may be adversely impacted in the current fiscal if sales revenue of operators continues to decline, Union minister Manoj Sinha said today.   
 

Morning News - 24-July-2017

  • The overall export of cotton textiles has declined by 10 per cent over the past three years. The cotton textiles export comprises cotton yarn, other textile yarn, fabric, madeups articles, cotton raw waste and cotton fabrics and madeups, which include products like bedsheets, blankets and curtains.According to data shared by the minister, the shipments of cotton textiles from India stood at Rs 70,936 crore during 2016-17, as against Rs 72,994 crore in the previous financial year and Rs 71,913 crore in 2014- 15.  

How to pick stocks for intraday trading?

 
Most beginners in stock market thinks making money in intraday trading is easy and cool. This is a wrong perception it is very difficult to trade and make money in intraday trading.
 
Disclaimer / Alert :
Intraday trading is injurious to wealth and health
 
1. Trade only in liquid stocks i.e stocks traded in F&O Segment 
Why only stocks traded in F&O?

Dr Elder's Triple Screen Trading System

I often get emails asking how to pick stocks for trading and when I ask them about current trading system they show moving average crossover system, MACD crossover system, ADX or RSI. Trading using a single indicator on a single time frame is very risky as the market is very dynamic and complex. Trend following indicators are profitable when market is moving in a particular direction but it will lead to whipsaws in range bound market. Oscillators are profitable in range bound market but gives early exit signal if market trends in a particular direction.
 

Nifty may bounce back for few days

 

After continuous 5 days of loosing days, yesterday (02-Nov-2015) Nifty retraced from days low 7995 and managed to close above 8050. The interesting fact is yesterday Nifty retraced back during the last few minutes of the trading session. Short bounce back is expected for few days. 

Candlestick Patterns : Hammer pattern indicates a short term reversal is expected.