The daily close above the given levels indicates still the buyers have their guard.

SL for nifty will be 11790 and banknifty 23700 foe the short term trend.

For banknifty if the 15min close is above 24400, the buyers will be in control, as the lagging span in 15min faces resistance @24400.

Also a significant OI reduction at 24500 PE indicates the same.

The buying pressure was accelerated from these levels.

If the market tends to be costlier than our trading setup, we should wait for our fair entry levels. Opportunity never fades in the stock market. Be patient. 👍

Always trade in the direction of the TREND, but not with the stretched out prices.

Good trading isn't about how much you make.

You can make money on poor decisions and lose money on good decisions.

Instead, focus on the process.

Identify your edge, execute it relentlessly, and don't look for shortcuts.

Cues for Today

■ Global Market update

- Dow down 97 pts
- Nasdaq down 31 pts
- Dow fut down 160 pts
- Hang Seng down 124 pts

SGX indicates a flat opening.

● FEDs Beige Book report shows that employment increased in almost all districts, though growth remained slow, Some of the FED members want aid for the economy

● India at the cusp of economic recovery: RBI Governor

● Cabinet to soon consider new PSE policy: DEA Secretary, Govt open to further stimulus to lift economy, says DEA Secretary

●The buyers are dominating on dips, if 12k mark is surpassed now its likely the buyers have their hold. Next target will be 12300.

Yesterday's LOW will now be the short term support (11770-11780).

You shouldn't think about how much money you're going to make this week.

Instead, you should ask yourself:

Do I have a plan that keeps me in this business for the next 50 years?

If you do, the money will take care of itself.
#infinity

Cues for Today

■Global Market update

- Dow up 152 pts
- Nasdaq up 21 pts
- Dow fut down 36 pts
- Hang Seng down 40 pts


●US markets close higher after Pelosi points to progress on coronavirus stimulus talks, banks lead gain

● FDA approves Gilead’s Remdesivir as coronavirus treatment

●The number of Americans filing for state unemployment benefits last week dropped more than expected but remained stubbornly high as support from fiscal stimulus faded

●New spacecom policy to allow private Imdian companies to launch satellite, sell services.

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Trend Followers:

1. Buy high sell higher

2. Short low cover lower

3. Trade many markets

4. Cut losers

5. Ride winners

6. Risk a fraction of your capital on each trade

7. Don't predict, react

Cues for Today

■ Global Market update

- Dow doen 28 pts
- Nasdaq up 42 pts
- Dow fut down 146 pts


● The US dollar edged higher as coronavirus infections rose

● US reached a record number of coronavirus infections for the second day in a row, Spain announced a national curfew, Italy introduced the strongest restrictions since the end of a national lockdown in May, French infections hit another record

●China's top leaders will discuss the economic course for 2021-2025 at a key meeting starting today

●As the nifty is resisted twice around the 12000 mark, the sellers will try to short more around the level with a buy stop of around 12025-12050, and above that level we can see the buyers to take control till 12300 level.

●The cash inflow is quite good by the FIIs but they seem to have added some shorts in Derivative segment, as either side movement is expected.

●In the last week a subdued range bound also indicate a momentum to follow in this week.

This week around 30% of the nifty50 companies are set to declare their results. A volatility is expected on either side.

Trades should be hedged if specific positions are open.

Despite a flat opening the 📈India VIX has surged 5%, expect a volatile session today. If market sustain below 11960 in the first half, the selling pressure might come.

No one can consistently predict the markets, call tops and bottoms.

So just follow price. Ride winners. Cut losers.

You'll be much further ahead than trying to outsmart the market.