diary of a day trader

[TraderRavi]

@ Alroy.....Hindalco do provides good intraday trades...thats why trading in Only NF & Hindalco....but surge or fall coincides in both ...so the problem is in case of surge if book profit in one other misses...I prefer Hindalco over NF..in such cases.. as it surges then goes down again...short lived peaks...so nimbleness is the key...but as I am tracking this scrip since only 10 days or so...not much idea about its movements, important support, resistances...thats why I keep asking you about that...

 

[columbus]

Having good traded volumes of 10 million or so. Hindalco provides some good opportunities unlike the others which run up on open.
If we depend on the nifty there is nothing to achieve here.

@ Alroy.....Hindalco do provides good intraday trades...thats why trading in Only NF & Hindalco....but surge or fall coincides in both ...so the problem is in case of surge if book profit in one other misses...I prefer Hindalco over NF..in such cases.. as it surges then goes down again...short lived peaks...so nimbleness is the key...but as I am tracking this scrip since only 10 days or so...not much idea about its movements, important support, resistances...thats why I keep asking you about that...

Though not looking great on monthly charts , ITC ,today gave a good
buying opportunity.

 

[alroyraj]

@ Alroy.....Hindalco do provides good intraday trades...thats why trading in Only NF & Hindalco....but surge or fall coincides in both ...so the problem is in case of surge if book profit in one other misses...I prefer Hindalco over NF..in such cases.. as it surges then goes down again...short lived peaks...so nimbleness is the key...but as I am tracking this scrip since only 10 days or so...not much idea about its movements, important support, resistances...thats why I keep asking you about that...

Use my own interpretation of market profile to find the supports and resistances.
Since it is approaching expiry still Hindalco Dec has more volumes and it is easier for me to know what will happen in equity and Dec contract, for Jan contract it is still not correlated too well...
Sometimes I try to confirm a larger move so sometimes there is less margin of safety available. Also on the EOD charts it does not look so good for Hindalco and tata Steel I think (I could be wrong too) so am cautious. Also by expiry have to see how low it will go thats all. But still buying EOD and selling next day at 10 seems assured.

 

[TraderRavi]

bot Hindalco @ 239.65 ....TSL hit @ 240...high 242.85...:annoyed:.......to hell with this TSL...:gun2:
..

 

[alroyraj]

bot Hindalco @ 239.65 ....TSL hit @ 240...high 242.85...:annoyed:.......to hell with this TSL...:gun2:
..

I shorted at 243.9 covered at loss at 244.1 (price had reversed direction at 243.7)...Ambiguous signals I should have stayed out.
Anyways once it moves it your direction better to wait or if in equity exit half and wait for the rest to avoid feeling foolish either way.
Rajesh bought at yest close,low risk...May do it tomo...

 

[TraderRavi]

I shorted at 243.9 covered at loss at 244.1 (price had reversed direction at 243.7)...Ambiguous signals I should have stayed out.
Anyways once it moves it your direction better to wait or if in equity exit half and wait for the rest to avoid feeling foolish either way.
Rajesh bought at yest close,low risk...May do it tomo...

NF gained more than 15 points..but Hindalco not showing bullishness now ...earlier shorted it, but it refused to go down.....now again long..not moving up.......

 

[alroyraj]

NF gained more than 15 points..but Hindalco not showing bullishness now ...earlier shorted it, but it refused to go down.....now again long..not moving up.......

Nothing to do. Next on radar is IFCI I suppose...A possible V move...though not so steep...difficult to know the bottom...

 

[TraderRavi]

+ 22 points on NF......+20 after brokerage...only one trade so far in NF....

 

[TraderRavi]

Again long in NF......
Hindalco is rising again...profit only above 242.2 ....

 

[charts trader]

Again long in NF ....

Hi TraderRavi,

you have nice trades on NF. i'm long till 6080