NIFTY
has dropped more than 10% since 03-June-19 and the sharp fall will definitely provide long term investors and institutions a buying opportunity. The chart shows the zones which the the market could potentially react from. Technical analysis or market timing is not the only key methods to successfully trade or invest, its a combination of pre-defined set of rules of risk management principles for losing trades and the ability to have the patience with your winning trades.
RMS rules for Intraday traders:
1) Risk 1% of the account size on each trade, not more not less.
2) Find maximum 3 trading opportunities each day. Make sure you find those high probability trades and place 3 trades on each trading day.
3) Risk/Reward at 2:1.
4) ALWAYS PLACE A STOP LOSS. Placing a stop loss separates a novice from a professional.
5) Do not forget rule no.4