Sharing my trades with proper trade setups
- Thread starter STRATEGICINVESTMENTS
- Start date
Hello Friends,
Its been a whole week since last posting. Lets continue now.
1. Friday's Nifty high and close is 6333 and 6307. Short of just 24 points from 6357. Nifty is near all time high or say near the resistance zone. I have not participated in long run. I am still waiting for short opportunity in Nifty and already took some light position on Friday in short direction. Nifty is clearly overbought now and not ready to clear (in my views and I may be wrong also) the resistance zone of 6357 as previously mentioned by me. Last whole week I have waited patiently and watched carefully for short positions. Also took some short positions on Monday and Tuesday only but they were sort of intraday positions. I WANT TO SHARE ONE THING HERE THAT WHENEVER THEIR IS LOSS IN TRADE I BECOME INTRADAY TRADER AND SQUARE OFF BEFORE THE CLOSE (if my stop loss is not hit already) AND IF THERE IS ANY PROFIT THEN I GENERALLY BECOME POSITIONAL TRADER.
2. Nifty is taking very less interest in crossing the zone as volume is not much high with free movements in upside. So no long position. Range is decreasing with no fresh volume. Friday had one of the lowest ranges and it was near the high. This is not the best way of breaking / entering into new high zone. Means bulls are not participating so just waiting for bears to participate now. Lets wait and watch.
3. For taking new short position (or multiplying current position) I am waiting for some weakness now. Nifty is not showing interest in going up but before coming down it may go few more points so now watching it daily for shorting in real time.
4. Last time I missed position in reliance but not this time. Reliance crossed R2 and touched almost R3 @ 927 as mentioned earlier by me so took short positions in Reliance at 926 with initial stop loss at 931 (931 was just for entry and can be cleared any time above 927 in real time) then shorted again at 925 and third position at 922 with final trailing stop loss of all three is at 918 now. All prices are in cash but took positions in futures three lots. Closing price of reliance is 908 approx.
Regards
Strategic Investments
Happy Diwali and Happy Trading in new year!!
Its been a whole week since last posting. Lets continue now.
1. Friday's Nifty high and close is 6333 and 6307. Short of just 24 points from 6357. Nifty is near all time high or say near the resistance zone. I have not participated in long run. I am still waiting for short opportunity in Nifty and already took some light position on Friday in short direction. Nifty is clearly overbought now and not ready to clear (in my views and I may be wrong also) the resistance zone of 6357 as previously mentioned by me. Last whole week I have waited patiently and watched carefully for short positions. Also took some short positions on Monday and Tuesday only but they were sort of intraday positions. I WANT TO SHARE ONE THING HERE THAT WHENEVER THEIR IS LOSS IN TRADE I BECOME INTRADAY TRADER AND SQUARE OFF BEFORE THE CLOSE (if my stop loss is not hit already) AND IF THERE IS ANY PROFIT THEN I GENERALLY BECOME POSITIONAL TRADER.
2. Nifty is taking very less interest in crossing the zone as volume is not much high with free movements in upside. So no long position. Range is decreasing with no fresh volume. Friday had one of the lowest ranges and it was near the high. This is not the best way of breaking / entering into new high zone. Means bulls are not participating so just waiting for bears to participate now. Lets wait and watch.
3. For taking new short position (or multiplying current position) I am waiting for some weakness now. Nifty is not showing interest in going up but before coming down it may go few more points so now watching it daily for shorting in real time.
4. Last time I missed position in reliance but not this time. Reliance crossed R2 and touched almost R3 @ 927 as mentioned earlier by me so took short positions in Reliance at 926 with initial stop loss at 931 (931 was just for entry and can be cleared any time above 927 in real time) then shorted again at 925 and third position at 922 with final trailing stop loss of all three is at 918 now. All prices are in cash but took positions in futures three lots. Closing price of reliance is 908 approx.
Regards
Strategic Investments
Happy Diwali and Happy Trading in new year!!
Last edited:
Hi Manojborle,
Thanks for sharing the reliance charts. Yes price is above the line drawn by you but kindly not that as per your last candlestick's in reliance chart, its a DOJI and it implies Reliance has lost its sense of direction. I have already taken the short trade as per my analysis. Please share your view also now.
I am new to this site and don't know many things.
Will you mind please sharing how you are able to post the charts here ? I tried to post the charts but they are very small in size and difficult to view and also I dont get the option of CLICK THIS IMAGE TO VIEW THE FULL IMAGE. Is it automatic or one need to do it manually. Please share.
Regards
Strategic Investments
Thanks for sharing the reliance charts. Yes price is above the line drawn by you but kindly not that as per your last candlestick's in reliance chart, its a DOJI and it implies Reliance has lost its sense of direction. I have already taken the short trade as per my analysis. Please share your view also now.
I am new to this site and don't know many things.
Will you mind please sharing how you are able to post the charts here ? I tried to post the charts but they are very small in size and difficult to view and also I dont get the option of CLICK THIS IMAGE TO VIEW THE FULL IMAGE. Is it automatic or one need to do it manually. Please share.
Regards
Strategic Investments
Last edited:
I save my chart as png format in amibroker and then go to w w w . i m a g e s h a c k . u s (Remove spaces ).
on this site u can upload images for free and u can change the size of image also so that it is visible on forum.
As you rightly said on Weekly chart a doji has formed and that also precisely after going above Supply Line, right now I am observing the Demand Line, any action in reliance will depend on this line.
Thanks
on this site u can upload images for free and u can change the size of image also so that it is visible on forum.
As you rightly said on Weekly chart a doji has formed and that also precisely after going above Supply Line, right now I am observing the Demand Line, any action in reliance will depend on this line.
Thanks
Hello Friends,
Took short positions at exact high in both Nifty and Reliance and multiplied them also.
Nifty's last close / low on Friday = 6140.75 / 6120.95. Never crossed resistance of 6357.
Reliance's close / low on Friday = 875.95 / 871.15. Never crossed 927 of resistance.
Hence one of the best trading week as per analysis.
Now trail stop loss or book profit as per one's style. Market has relieved from overbought position now but still far away from oversold. Nifty can get some temporary support now as last Friday's low was between the zone of 6113 (29th Jan 2013) and 6133 (approx high of 28th,29th and 30th May 2013). Very slight loss in daily volume but major decline of (30 percent) in weekly volume but bcz of expiry and holiday it can be justified.
28th Oct to 1st Nov week = 95.2 cr volume (Also Expiry week)
5th Nov to 8th Nov week = 65.70 cr volume (Monday was holiday)
Reliance is now at support so just tight your stop loss or book profit. Weekly loss of about 45 percent in volume on back to back week in reliance suggests to take caution. One more thing, reliance is at exact 50 percent retracement from 1st October 2013 low to 1st Nov 2013 high. 50 percent is a good level to get support.
My interest has decreased considerably in continuing this thread.
Regards
Strategic Investments
Took short positions at exact high in both Nifty and Reliance and multiplied them also.
Nifty's last close / low on Friday = 6140.75 / 6120.95. Never crossed resistance of 6357.
Reliance's close / low on Friday = 875.95 / 871.15. Never crossed 927 of resistance.
Hence one of the best trading week as per analysis.
Now trail stop loss or book profit as per one's style. Market has relieved from overbought position now but still far away from oversold. Nifty can get some temporary support now as last Friday's low was between the zone of 6113 (29th Jan 2013) and 6133 (approx high of 28th,29th and 30th May 2013). Very slight loss in daily volume but major decline of (30 percent) in weekly volume but bcz of expiry and holiday it can be justified.
28th Oct to 1st Nov week = 95.2 cr volume (Also Expiry week)
5th Nov to 8th Nov week = 65.70 cr volume (Monday was holiday)
Reliance is now at support so just tight your stop loss or book profit. Weekly loss of about 45 percent in volume on back to back week in reliance suggests to take caution. One more thing, reliance is at exact 50 percent retracement from 1st October 2013 low to 1st Nov 2013 high. 50 percent is a good level to get support.
My interest has decreased considerably in continuing this thread.
Regards
Strategic Investments
Last edited:
Hi RavishReport,
yes, I am expecting a bounce in Reliance and Nifty in the coming week. But they are not good for trading as per my setup. I missed whole of up-move from 6100 to 6335 in the anticipation of down move. Now I am trading only short side.
I am a counter trend trader and for that I need price to reach near any support or resistance zone. Then I watch volume and price behavior closely and if everything found ok then I trade.
Here both reliance and Nifty have moved away from their major resistance zone's and are quiet in the middle of range so can't say anything now about trading opportunity. For me reliance's first target was 895 and second around 872 and next around 838.
For any new trade in reliance,
1st It is recommended from my side to just wait for another shorting opportunity around 905 / 915 / 927 again.
2nd Even some one wants to trade in upside then their is one good opportunity right now. It is to take long position with stop loss one or two points just below the Friday's low. Reason for going long is reducing volume on daily basis and highly reducing weekly volume and price is at exact 50 percent support.
3rd Nifty - can't say anything about upside bounce level. 6230 is a good resistance zone for any approximation. Its in middle of zone and for any trading opportunity it should reach any resistance or support level. Just wait here.
If there is no clear sign for trade then one should watch market carefully instead of trading. There are many other opportunities in other sectors or stocks. Just trade those instead of Nifty for the time being. Trade only when you are sure about your setup and probability is on your side otherwise search for other opportunity.
For example Auto Sector is at major resistance zone since last two weeks. Its good to trade those stocks in down direction. If one is wrong then loss will be very less and if correct than can make a very good profit. I am attaching a chart for your reference.
Hope it helps.
Regards
Strategic Investments
Uploaded with ImageShack.us
yes, I am expecting a bounce in Reliance and Nifty in the coming week. But they are not good for trading as per my setup. I missed whole of up-move from 6100 to 6335 in the anticipation of down move. Now I am trading only short side.
I am a counter trend trader and for that I need price to reach near any support or resistance zone. Then I watch volume and price behavior closely and if everything found ok then I trade.
Here both reliance and Nifty have moved away from their major resistance zone's and are quiet in the middle of range so can't say anything now about trading opportunity. For me reliance's first target was 895 and second around 872 and next around 838.
For any new trade in reliance,
1st It is recommended from my side to just wait for another shorting opportunity around 905 / 915 / 927 again.
2nd Even some one wants to trade in upside then their is one good opportunity right now. It is to take long position with stop loss one or two points just below the Friday's low. Reason for going long is reducing volume on daily basis and highly reducing weekly volume and price is at exact 50 percent support.
3rd Nifty - can't say anything about upside bounce level. 6230 is a good resistance zone for any approximation. Its in middle of zone and for any trading opportunity it should reach any resistance or support level. Just wait here.
If there is no clear sign for trade then one should watch market carefully instead of trading. There are many other opportunities in other sectors or stocks. Just trade those instead of Nifty for the time being. Trade only when you are sure about your setup and probability is on your side otherwise search for other opportunity.
For example Auto Sector is at major resistance zone since last two weeks. Its good to trade those stocks in down direction. If one is wrong then loss will be very less and if correct than can make a very good profit. I am attaching a chart for your reference.
Hope it helps.
Regards
Strategic Investments
Uploaded with ImageShack.us
Last edited:
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