Entire Midcap PSU banks have gone up, hence trending based on news, INFUSION OF MORE CAPITAL BY GOVT, this news is over, hence anytime profit booking should set in, as after news profit booking comes. However trade with caution, as if nifty goes up, then these will also go up and profit booking may get delayed.
Long or Short Opinion
- Thread starter rajputz
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Hi Raunak Sir,
Market facilitation index is just my second thought. My first thoguth remains with the CCI alone, but still many dont understand it and dont consider it good, didnt followed on that. Trend is indeed strong. One thing that i also didnt mentioned was the stochastic and RSI oscillators have just crossed in overbought. Nice thought will be to short on signs of divergence. Not just oversold and over bought alone.
Market facilitation index is just my second thought. My first thoguth remains with the CCI alone, but still many dont understand it and dont consider it good, didnt followed on that. Trend is indeed strong. One thing that i also didnt mentioned was the stochastic and RSI oscillators have just crossed in overbought. Nice thought will be to short on signs of divergence. Not just oversold and over bought alone.
. Will try it...Runakji I agree its in an Uptrend but if the nifty goes down these stocks have to lead the leg lower as Banking sector in India has held the market rather well. But my view is my trading system that generated a sell signal. I try to find the bottom and peak. Hence Such narrow stop losses. But when it works it really works well.
I told chaitnaya the other day to buy tata metaliks up almost 20% in 2 days. Similarly with Texamo pipes got a buy on Tuesday got 10% in 2 days. But I do get it wrong too. So I wont be surprised if it doesn't work. I shorted today at 62.30 now stop at 62.20 and might get the stop hit as market is 62.10 right now. So you guys might be right but I was just following my system.
I told chaitnaya the other day to buy tata metaliks up almost 20% in 2 days. Similarly with Texamo pipes got a buy on Tuesday got 10% in 2 days. But I do get it wrong too. So I wont be surprised if it doesn't work. I shorted today at 62.30 now stop at 62.20 and might get the stop hit as market is 62.10 right now. So you guys might be right but I was just following my system.
Rajputz and Nimish,
I feel you guys could be right in your call. For some reason, I am not that great trader (short term). I am a very good Medium term Trader though (Both on the Long and Short side). Essentially what I am doing is building up significant shorts in my portfolio in Nifty and Bankex Futures (2-3 month perspective). I had shorted markets when they were at 5370 and squared off at 4850. Now, I am expecting a second leg down move, which is going to be slow. Hence, I am taking a long term call on the markets (1-3 months). As you all know, my targets remain 4400-4500. I personally don't see the Index moving higher (making new highs). I move with very strict stop losses, currently that being 5110-5130 band. Hence, I carry low risk and good reward potential. Let's see how it all goes.
Incidentally, Nimish and you do a very good job in short term trading. Keep it up.
Tc
I feel you guys could be right in your call. For some reason, I am not that great trader (short term). I am a very good Medium term Trader though (Both on the Long and Short side). Essentially what I am doing is building up significant shorts in my portfolio in Nifty and Bankex Futures (2-3 month perspective). I had shorted markets when they were at 5370 and squared off at 4850. Now, I am expecting a second leg down move, which is going to be slow. Hence, I am taking a long term call on the markets (1-3 months). As you all know, my targets remain 4400-4500. I personally don't see the Index moving higher (making new highs). I move with very strict stop losses, currently that being 5110-5130 band. Hence, I carry low risk and good reward potential. Let's see how it all goes.
Incidentally, Nimish and you do a very good job in short term trading. Keep it up.
Tc
Nimish, if this is the case then seriously hats off to you. Following a system and having such belief is absolutely wonderful. For short term, I have made many profitable systems, but have never had the patience to follow them. I follow medium term systems very well and I do well on that horizon because my trader personality lies there.
I have always felt short term trading is very difficult and hence those who can execute it are really good traders.
Great going.
Tc
I have always felt short term trading is very difficult and hence those who can execute it are really good traders.
Great going.
Tc
Stopped out at break even after taking into account brokerage. Will look to enter short below 61.90 now which is acting as a good support and 62.30 as a stop which has proved good resistance.
Raunakji still new to this system thing. I did paper trade in Uk market and my system worked really well on short term swing trades. FTSE tanked 5% and got a return of 8% during that time. So since then just adding some filters and improving the system now trying to use in Indian markets. As I said before it doesnt work everytime but when it does it gives good return at times.
Raunakji still new to this system thing. I did paper trade in Uk market and my system worked really well on short term swing trades. FTSE tanked 5% and got a return of 8% during that time. So since then just adding some filters and improving the system now trying to use in Indian markets. As I said before it doesnt work everytime but when it does it gives good return at times.
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