Daily Tryst with Nifty

[Sunil]

After apparent gapup, the multiple top region of Spot 4600 should ideally provide support... (Fut = 4610)
and gap support at yest high = spot 4582

good bounce from expected support zone..
:thumb:

already near 4640 now

 

[BrokerJi]

Good afternoon every one !
guys may I ask a questions. I have come across the thread where Mr Sharma ask about the margin trading " Evaluate my Margin Trading Technique plz
After making considerable loss in Margin Trading Intraday...Now I wanna start right...So started paper trading now...Here's the technique I wanna follow and pl be aware I do not know to use charts and do not want to use one becoz, It is harder to automate the trade in later time (which I am strongly planning to do)...

1. Market Trend : Identify whether market is going up or down.
2. Sector Trend : Identify whether sector is going up or down.
3. Stock Trend : Identify whether sector is going up or down.
4. Volume Trend: Confirm volumes are according to the trend.
5. Place order and book profit.(Im expecting 0.4 percent per transaction,)

Example: Assume I wanna buy ICICI Bank in the following situation:

Variables:

1 Market Trend: Positive (Market is moving up)
2.Sector Trend: Positive (Banking sector is up)
3.Stock Trend: Positive (change more the 1 % of previous day close)
4.Volume : More buyers than seller (total bid to total offer ratio > 1.2%)
5.Check Derivatives of the particular stock (This seems to be important but I do not know what's derivative (after considerable reading) and how to deduce anything out of this.)

DECISION: In the above conditions I BUY ICICI Bank and keep checking for all the above trend remains same during the period I hold my stock.
> If any of the above conditions change, especially Volume, say if total bid to total sell ratio falls to 0.9 percent (price should fall, Square off with Loss)

> If total bid to total sell ratio reaches more than 1.2% say 1.5% the Square Off with profit.

I know there a lots of Punters here, Pl don't laugh at this, If this is pretty lame. Pl tell me whether this technique works or any suggestions to improve this technique or pl tell me if this doesn't work at all.

Thanks a lot guys...hoping to hear responses...



please resopond to this will immensely appreciated

Well does this method incorporates any learnings from your past losses ? Coz I also am experimenting with intra day trading without looking at any charts and have to admit that net net success is still far away. Though have been able to limit my losses through prudent risk management but still close to 15% capital loss in 30 days is nothing anybody will appreciate :annoyed:
So with my experience I sincerely doubt your method in particular your strategy of booking profit at .4% movement
Let's discuss this in detail sometime.

 

[lazytrader]

Sorry Sunil, missed your chat. Thanks for the compliments. You've been around much longer than many of use, hope to see some additions from you too. :thumb:

 

[hhh]

Hi All,

Please spare a minute and update following thread

http://www.traderji.com/brokers-tra...kers-brokerage-here-great-thread-newbies.html


-Giri

 

[Sunil]

bullish pattern in intraday chart suggests target of new 2009 high.

pattern is negated below 4540


(cmp = 4555)

 

[Sunil]

new day high registered; but not yet crossed friday's HOD - 4679

 

[Sunil]

no two consecutive 5min bars are closing below 4636 (friday's close)
no two consecutive 5min bars are closing above 4660

a narrow ranged & INSIDE day so far...

 

[Sunil]

no two consecutive 5min bars are closing below 4636 (friday's close)
no two consecutive 5min bars are closing above 4660

a narrow ranged & INSIDE day so far...

Part 1 of journey completed...
from classical pivot of today (4633) till R1 (4682)

booked 1/4th - shifting stop to higher level

 

[Sunil]

2009 high, as of now, is Spot 4693 / Fut 4703

 

[Sunil]

lots of taily tops at 5min BB's upper band