Long or Short Opinion

[simple_trader]

Took 5300 CE at 23...reversed the position. Trading at 30 now...Breakout trade.

Dear rajputz,

You may review about your selection of the instrument for your trading. I guess something wrong in your selection of strike price. If I was in your place then I would have traded with 5200 June call today than 5300 call. You might end up getting your target, but as per me 5300 was not a proper strike.

Also mind one thing, when we hold option over night, whether we want or not, we became bias on market.

This is my 2 cents.

Happy trading!

 

[AlokTewari]

Kind of...weak...

United Phosphorous weak ? I thought after breaking strong resistance of 190 it is very strong & heading towards 205+.

Cheers !!!!

Alok Tewari

 

[rajputz]

Dear rajputz,

You may review about your selection of the instrument for your trading. I guess something wrong in your selection of strike price. If I was in your place then I would have traded with 5200 June call today than 5300 call. You might end up getting your target, but as per me 5300 was not a proper strike.

Also mind one thing, when we hold option over night, whether we want or not, we became bias on market.

This is my 2 cents.

Happy trading!

I find it really difficult to trade on paper. So i have kept aside 5000 Rs. for just these testing purposes. And that is why i chose the one with the low, as i wanted to buy atleast 2 lots. Plus ur interpretition is right at some place. I am new to options and dont know much abt selecting the right strike price. I am just learning them.

 

[rajputz]

United Phosphorous weak ? I thought after breaking strong resistance of 190 it is very strong & heading towards 205+.

Cheers !!!!

Alok Tewari

That was for the head and shoulder that formed in intraday chart at the moment it formed. Not EOD chart. I never looked at it Alok. May be i should have written little clearly. Anyways will try to be more clear next time.

 

[findvikas]

So you are saying the wolfewave should be supported by stronger volumes. So to clarify if it closes successively below 5235-5245 and then only once it falls below 5140 to go short till a tgt of 4800. And until then to have a bias to hold. Did I understand it correctly?

You MUST have strong volume at point 5 which they call as stopping volume and is used to reserve the trend. that 5235-5245 was the sweetzone resistance and got broken today.. see the chart.. 5140 is the line where it will go back in the wedge and it is a safe entry... until it hit the down trending line we were in safe position to hold short but usually as you approach near the target line and if you see high volume its better to get out of the position...

 

[rajputz]

Check DLF for further upmove. CCI is showing a slow change in momentum. Oscillators are also getting positive and making higher lows. Volume and price action on day before was green, which shows the move can continue. But yesterdays movement is a chaos. So better Stay long above the yesterdays high and short below yesterday's low.

Check the charts: -

 

[scplindia]

ITC is expected to declare bonus today, hence the up move.

 

[rajputz]

Little update on Ghost of Hindalco Posted few days back. Check the results. So far so good.

Today can be exitting day for Hindalco. If and only if closing price above 149 is maintained, we can consider further upmove. Else not.

 

[crown]

Check DLF for further upmove. CCI is showing a slow change in momentum. Oscillators are also getting positive and making higher lows. Volume and price action on day before was green, which shows the move can continue. But yesterdays movement is a chaos. So better Stay long above the yesterdays high and short below yesterday's low.

Check the charts: -

thank you bro
I booked good loss on dlf yesterday
though once it was giving reasonable profit after shorting
but my greed made it all wrong
nifty ne ek dum se neeche ka move liya aur mene socha ki abhi aur bhi neeche jayega aur uske baad har upmove par short plus karta chala gaya and akhir me tagda loss

today i am looking to short the following scripts
TTML- sell above 22.95 stop loss 23.55
bajaj auto - sell above 2307 stoploss- 2316
cairn india - sell above 309 stoploss 314
gmr infra - sell above 56.80 stoploss 57.20
sterlite ind - sell above 695 stoploss-702

aaj seekhane kee koshish karunga ki short me profit kidhar le kar bhag jaana hai

 

[simple_trader]

thank you bro
I booked good loss on dlf yesterday
though once it was giving reasonable profit after shorting
but my greed made it all wrong
nifty ne ek dum se neeche ka move liya aur mene socha ki abhi aur bhi neeche jayega aur uske baad har upmove par short plus karta chala gaya and akhir me tagda loss

today i am looking to short the following scripts
TTML- sell above 22.95 stop loss 23.55
bajaj auto - sell above 2307 stoploss- 2316
cairn india - sell above 309 stoploss 314
gmr infra - sell above 56.80 stoploss 57.20
sterlite ind - sell above 695 stoploss-702

aaj seekhane kee koshish karunga ki short me profit kidhar le kar bhag jaana hai

Friday, profit booking expected some point in the day. Though we are in strong trend now, metals are showing weakness. Are those going to correct today?