Long or Short Opinion

[SwingKing]

Raunak, will u plz give explanation on it?

The answer to what I asked is about taking trades from one time frame and extending it into another. Let me explain this.

Suppose you entered based on 15 minute time frame. If the trade is going well and you are in profit, when the sel signal comes, see what your system is doing in one higher time frame (that is in 30 min). If the trade according to your system is in hold mode in higher time frame, then carry on your trade and then move to higher time frame. This way, with 15 min time frame you enter with very low risk, but exit based on higher time frame with greater risk to reward.

Tc

 

[simple_trader]

In case NF trades below 5350, i feel market can fall to 5280-85 today. Be a bit cautious with longs. Banks seems to be over bought, can reverse on any day (like IT today).

Happy trading!

 

[SwingKing]

Still the shorter term price structure remains bullish with no significant weakness apparent. Nifty has been forming a good base and the recent movement is coming from such strong base. Shorts should be entertained only on weakness.

I still maintain the same view. Short term structure of the market is still strong. Shorts as of now should not be entertained. Markets are again and again shelling out the same message. It is strong as of now and it is advisable to react only when signs are visible. If and when the signs emerge, one will always have time to reverse and build positions.

Market always offers enough time for the prudent trader to react.

Tc

 

[simple_trader]

Yes, these are weak as per chart. But I feel Tatasteel can bounce to 510 and SAIL to 205 before these fail again.

Happy trading!

Tatasteel is there at 510. SAIL is a bit under performer, but still it can go to 205.

 

[simple_trader]

In case NF trades below 5350, i feel market can fall to 5280-85 today. Be a bit cautious with longs. Banks seems to be over bought, can reverse on any day (like IT today).

Happy trading!

Market is making perfectly Euphoric rise!! it will reverse at some point suddenly (may be sharp one).

My like point 5500-5550 NF range as reversal point. Some +/- will happen.

Look at August PUT around 5500 NF if you can hold. Take as per your risk taking ability and total premium as SL.

I feel next swing will happen to 4500 NF. This is my study, I can be wrong as well.

Happy trading!!

 

[sadiq]

Market is making perfectly Euphoric rise!! it will reverse at some point suddenly (may be sharp one).

My like point 5500-5550 NF range as reversal point. Some +/- will happen.

Look at August PUT around 5500 NF if you can hold. Take as per your risk taking ability and total premium as SL.

I feel next swing will happen to 4500 NF[/COLOR]. This is my study, I can be wrong as well.

Happy trading!!

you mean to say after 5550 market go down upto 4500 ??

 

[simple_trader]

you mean to say after 5550 market go down upto 4500 ??

Yes sadiq, next down move will take out those swing lows at 4800,4690. I think so.

Market would get real strength once after a big fall and those lows violation. My own way of studying market.

You can share your views! Anyway, I am bearish at 5500 NF.

fingers crossed!

 

[sadiq]

Yes sadiq, next down move will take out those swing lows at 4800,4690. I think so.

Market would get real strength once after a big fall and those lows violation. My own way of studying market.

You can share your views! Anyway, I am bearish at 5500 NF.

fingers crossed!

though silly question still i want to ask - did swing low 4800 before this expiry ?

 

[columbus]

though silly question still i want to ask - did swing low 4800 before this expiry ?

In early American Markets, NASDAQ is trading +20 and Dow +110.

 

[simple_trader]

though silly question still i want to ask - did swing low 4800 before this expiry ?

Hi sadiq,

I have not understood your question

If you are asking if market can fall to 4800 before this expiry - then answer is everything is possible in market. But going by current technicals of the market, it does not seem to be possible for market to fall to 4800. In fact market will show more up move before we fall. We would rise to 5550-5500 around in a few days. However even this next 100-150 points rise, there will be ups and downs. Market will make people both bullish and bearish even in this small move. It is difficult to tell at this point about expiry. If we have up move quickly to 5500+, then it is possible to see a fall to 5200-5300 range before expiry. But this has to be judged gradually. It is little premature now to judge.

I wrote about the bigger picture, after up move is done, market will make the down swing. It is dangerous to predict both time and price point together. If I am right about down swing, it may take 1-2 series (August+September). We can judge market as it unfolds. So it is difficult to guess time frame at this point. But we can take trade, where-ever, we find deal is favorable in terms of risk-reward.

Hope this helps!