Long or Short Opinion

[SwingKing]

waiting for nifty spot to break 5088....Thats the resistance...after it straight to 5114...

Raunak Sir, Can we consider this market reversal...

On a daily time frame we are seeing good upmove. This could well lead us to 5140 - 5170 kind of band. But on broader time frame, we still need to wait for reversal. As of now no signs.

Tc.

 

[SwingKing]

Hi everyone,

Anybody can chip in here in the thread and discuss, long or shorts for some particular stocks or indices, with charts or what ever he/she thinks.

I think it will be helpfull for all, as no body can track all the charts and stocks, while one with the idea can share it here.

I will my self try to put my ideas here. Long and shorts can be posted with any TA.

From 20th April 2010 to 31 May 2010 ---> 100 Useful pages.

Keep it up.

Tc

 

[simple_trader]

This is how we are placed now. Though intraday market moves are very deceptive!

As of now what I see, is in intraday we we broke above 5048 NF, and it gave some gains in up side. However, in bigger time frame, it is facing resistance around those levels.

Let's see if it breaks out above 5095 spot around with momentum or it retraces to the support zone around 5010 spot. My thinking we would retrace to the support zone.

Better to be in the side line unless someone has very fast hand.

 

[simple_trader]

Renuka - Buy

I am considering a Buy on Renuka. After a long downtrend, the share has started to show some good upmove with increased volumes. All the indicators are also supporting for Renuka.

CCI has gone to positive with a strong bounce, to + lines. Stochastic and RSI is also having a nice Rise. Pivot high is also broken for last few days which was at 57, showing a strong upward move.

Level above to stay long is 59 above which it can touch 62.7 64.8 68.5 . For the irratic behaviour of market, keep the stoploss at 57.

Check the charts: -

Dear rajputz, hope you know that whole world (TV channels) have given buy call on renuka today.

 

[rajputz]

Dear rajputz, hope you know that whole world (TV channels) have given buy call on renuka today.

Naah buddy dont consider it. My fire was balramchini on friday. Its moving i think. And today and for few days is renuka.

 

[rajputz]

Bought 4900 put at 80....stoploss at 78....udega ye...

 

[simple_trader]

One thing to be clearly noted here -

Market is managing to have 25-20 points discount for last a few days (just re-call, last series started with similar discount). So till this disappears, I think time to be a bit cautious. Or as per level till we close above 5095 spot.

As per me buying zone is around 5010-20 spot around. However we need not jump for it. Let's see if we manage to close above 200 DMA today.

Chart wise it seems that we are entering into a flat zone of trading between 5010-5095 spot (trading zone). Whichever way breakout happens, we will have to go in that direction.

Over all direction seems to be up, but we have to be cleaver so that one does not get trapped.

In case we close below 200 DMA, we should NOT have long positions in hand. My simple logic!

Happy trading!

 

[rajputz]

Bought 4900 put at 80....stoploss at 78....udega ye...

Covered

aj scalper bana hua hu.

 

[rajputz]

Now will break the trendline i think: -

 

[rajputz]

Today some problem came with my amibroker data provider but still i was able to manage with trading today. I just tried in small amount trading the very first method i learnt in day trading. Some might have seen it in beginners thread. It was based upon Second higher bottom, and second lower top. And did 6 trades today. out of which 3 were looser and three were winner. Well the day ended with 10 percent profit. On Trading capital of 10,000 i earned 1000. It was just for test purpose. All i messed up was with not knowing the proper exit. Lol. But still managed.

First trade was on Second higher bottom, Second trade based upon, head and shoulder pattern, Third trade Hit stoploss (Wrong figure of pattern), fourth and fifth again hit the pattern. Last sixth trade was of Renuka. Bought at my decided level 0f 59. Call of strike 65 at 1.50 and Sold at 1.65.

Didnt wanted to take any positions home, cause was not feeling comfortable. Simple Methods do work some times.

well to the review. I am still positive on Renuka.
Albk LTP 165 Closed 1.79% up
Andhrabank 136.45 close 1.56% up
Biocon closet at 294 1.16% high
Yesbank at 287 closed 1.86% high