Diary of a 315 Trader

[moody_man]

Thanks, but is this on ami-broker ? because GCI only provide nifty

Hi moody_man,
Insert->Indicators->custom->Ichimoku

 

[trade4putuval]

DLF, there was a large candle that broke through the previous resistance at 250, which means more upside. But then it did go till 280. If we check the weekly cloud, first resistance is at 286, followed by next resistance at 302.2.

So we can go short at 286, but strict stop of 288, because if this is broken, then the next target is 302.2, which is a sure and strong resistance from where you can short with multiple lots.:thumb:

Wow!!! Low made of 248.55. Cheers to who all had traded DLF short!!!:thumb:

Now what!!!!

50 SMA: Crossed over to the bearish side. So we can keep this as the stop loss for the short trade that you all had entered - 255.25. Round it to 256.1.

Ichimoku: Price is waiting to enter the cloud. Chikou span is planning to cut into the price action by crossing from bullish to bearish. Once the price enters the cloud, the next price is 238.5 that is the bottom of the cloud. All this apply to Daily. In weekly, we are still near the overbought zone.

Strategy:

• Keep strict stop of 256.1 (50 SMA) and target of 241 (Weekly Kijun)-238.5 (Daily cloud bottom).
• Alternatively, exit at the best low price today, wait for confirmation of candle close inside the cloud, and re-enter your short trade. If you manage to exit the trade near today's low, check if price will revisit 255, short again at 255 with strict stoploss of 256.1.

 

[jamit_05]

I intend to purchase Tata Steel and BHEL for the long term. Could you suggest levels to make purchase. And a logical method as well.

Thank you.

 

[trade4putuval]

Why do I have a feeling that nifty will not fall further even though I see lot of bearishness around, target cloud top!!!

Check the chart!!!
...
The tight cluster looks like some support for nifty at 5700.
But yes, if it breaks the zone, we can see the ichimoku step that becomes a very strong support, due to the long length of the step! Let's see!

For followers of Fibonacci series, we have the following support zones: 5602, 5444. Fibonacci series is with respect of the uptrend wave that started in June 2012 and ended in January 2013.

Wow! sometimes I can be right also, :rofl:!

Well, now where is nifty headed? We see two resistance levels again.

• Cloud bottom (5825)
• 100 EMA (5816)

What do you think is the most likely probability? Well, look at 30 minutes and you can see very overbought zone. So there can be a retreat to 15EMA in 30 minutes at 5751, before we can decide the course of the direction.

If nifty manages to stay below 5751, it becomes clear that the cloud has provided stiff resistance, while nifty did not like 100 EMA and retraced from it due to overall bearish view.
On the other hand, if it manages to close inside the cloud, we will need to wait till the next trading session, that is on Thursday to decide whether nifty is still on the upside or downside, because nifty will again try to run away from 100 EMA, but this time in the bullish direction:clapping:. Mind you, the rejection can be in the bearish direction also.

So strategy for tomorrow is to go short for a 50 point target, as mentioned by 30 minutes 15EMA.:thumb:

 

[trade4putuval]

I intend to purchase Tata Steel and BHEL for the long term. Could you suggest levels to make purchase. And a logical method as well.

Thank you.

Sorry sir! I guess I am very very late in providing my views! The market beat me to it.

Tata steel, looking at 30 minutes, I guess you will get a chance to buy at a lower rate from today's close, with a target of 361, which is the tenken in daily. Also, the weekly low corresponds to the previous low and stands out to become a double bottom.

BHEL, previous low is 195.1 (indicating double bottom), maybe we can make an entry at this point for first target of 206. All depends on whether you will get to make an entry at this level. Current levels 195 to 200 marks a support range, below which BHEL cannot go due to triple bottom formation in weekly charts as well!

Whatever be the case, look out for nifty! If nifty gives way for new lows, BHEL can break the support and fall further!

 

[NANDAMAD]

for those who do not know 15 ema etc.. can u pl put the figures there. sorry because i do not undersrtand cloud also.

 

[trade4putuval]

Wow!!! Low made of 248.55. Cheers to who all had traded DLF short!!!:thumb:

Now what!!!!

50 SMA: Crossed over to the bearish side. So we can keep this as the stop loss for the short trade that you all had entered - 255.25. Round it to 256.1.

Ichimoku: Price is waiting to enter the cloud. Chikou span is planning to cut into the price action by crossing from bullish to bearish. Once the price enters the cloud, the next price is 238.5 that is the bottom of the cloud. All this apply to Daily. In weekly, we are still near the overbought zone.

Strategy:

• Keep strict stop of 256.1 (50 SMA) and target of 241 (Weekly Kijun)-238.5 (Daily cloud bottom).
• Alternatively, exit at the best low price today, wait for confirmation of candle close inside the cloud, and re-enter your short trade. If you manage to exit the trade near today's low, check if price will revisit 255, short again at 255 with strict stoploss of 256.1.

Why am I not convinced that DLF will go up! The candle shape in weekly does not provide a convincing evidence that this week DLF will move up. In case, it does not, then in the daily chart, the candle would have entered the cloud, which means you can see the low mentioned in my previous post. But I cannot say this with conviction. I may be right or wrong!

In addition, the chikou span has moved below the price action indicating start of bearishness.

Whatever be the case, trade this stock in the trend of nifty!

 

[trade4putuval]

for those who do not know 15 ema etc.. can u pl put the figures there. sorry because i do not undersrtand cloud also.

15EMA is already in the post. But then the 15EMA keeps changing every half an hour. You need to check google finance, every half an hour.

Cloud refers to ichimoku cloud. In chartink, if you select the option for ichimoku in Upper Overlays section, you will be able to see the plot in red and green, that looks like a cloud.

• The cloud acts as tough resistance or support.
• In case, the price action (cmp) enters the cloud, it goes into instability creating lot of whipsaws.
• But once the candle enters the cloud, there is 85% chance that it will move to the other side of the cloud.

 

[jamit_05]

Sorry sir! I guess I am very very late in providing my views! The market beat me to it.

Tata steel, looking at 30 minutes, I guess you will get a chance to buy at a lower rate from today's close, with a target of 361, which is the tenken in daily. Also, the weekly low corresponds to the previous low and stands out to become a double bottom.

BHEL, previous low is 195.1 (indicating double bottom), maybe we can make an entry at this point for first target of 206. All depends on whether you will get to make an entry at this level. Current levels 195 to 200 marks a support range, below which BHEL cannot go due to triple bottom formation in weekly charts as well!

Whatever be the case, look out for nifty! If nifty gives way for new lows, BHEL can break the support and fall further!

Great points. Could you also comment on really long term... I kinda look at these scrips for investment.

 

[a1b1trader]

Hi
No updates since long time.
Why you have stopped updating your thread.
Please continue.
Thanks