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Successful day trading requires the ability to take quick action based on market movements and that is why you should use the live charts provided You get live charts as line graph, candlestick or OHLC f Real time charts of selected stocks as well as the nifty can be found and you have the option of viewing one day charts as well as 15 day charts.
You can spot trend reversals using technical analysis parameters such as MACD and RSI. 200 day moving averages are also plotted in these live charts. Thus the live charts from a real treasure mine for both day traders as well as long term players.
This powerful tool allows you to base your analysis on hard numbers that are presented to you in an easy to analyze graphical format. Thus if you are a master trader comfortable with reading charts then this will prove to be the tool that can really help you with the quick ability to spot and act on market behavior patterns.
The end of day charts is a great way in which you can plan your trading strategies for the next trading session. Even if you are a novice in the field of stock trading, the live charts help you observe how the stock prices fluctuate over time. And simple technical levels such as supports and resistances are easier understood graphically than through sheer numbers.
Can be used to successfully predict future price movements. Even if you are a believer in fundamental analysis of stocks – understanding how the company performs and evaluating the potential of the industry in the current economic scenario, you cannot completely neglect technical analysis. The best way to gain immense profits from stock trading is to do fundamental analysis to pick the stocks that you would like to own, and then do technical analysis using charts to arrive at the right price to enter and exit the stock. And that is where the live charts.
Using these charts you can easily identify the oversold and overbought levels of the nifty index as well as different stocks. In order to understand how to best use the live charts you need to read up on technical analysis indicators and chart patterns as well as how to develop successful trading strategies based on these pointers.
If you are a sophisticated trader who deals in derivative trading or someone who is trying to ski the market by trading huge volumes, then even slight market movements can mean a difference of a huge amount of profits. Here again, the live charts are a great way to keep in touch with the minute to minute fluctuations of the Nifty or any specific stocks.
Thus, you can let your winning positions ride while protecting the profits already earned. Having the correct stop loss levels also ensures that you do not lose too much money in case your analysis goes wrong or the market behaves differently due to some sudden unforeseen circumstances.
Indian markets are extremely sensitive to any news that may affect big weights in the nifty such as Reliance and it is not always easy to foresee developments that can cause the markets to suddenly fall or rise. And that is why you should closely follow the live charts provided.
Markets often overreact to news, and you may want to sell your stock which has risen up on the back of positive news, so as to buy them back at a lower level. Or if you see the markets fall like a pack of cards, then you may want to quickly protect your long term profits by selling off your portfolio and wait for the trend to reverse before entering the markets again. For all of these decisions, it is essential to track the markets daily using live charts.
Follow the live charts and make trend your friend while trading and investing in the stock market.
Follow the live charts and make trend your friend while trading and investing in the stock market.
Posted in: Investing
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