Stocks To Keep A Close Eye On

[rrmhatre72]

****************

Hi All,

I rarely get an opportunity to do intraday. Today was one such day.

Here is what I have tried. Notes on chart itself.

I can see the chart only after after 10:AM as I leave home before 9:00AM.

Today I saw the chart at about 10:20AM. On 1 minute timeframe TATASTEEL had gone above EMA(20) and the last bar was a long green bar. So, waited to see where it will go. At 10:26 it made a high of 634.00 and started moving down. At 10:33 MACD crossed over signalling SELL and RSI already gave the same signal. PVI also was on the verge of crossing below its MA(20). OBV had started falling. Although I should have waited for price to cross below its EMA(20), I shorted TATASTEEL before the cross over as NIFTY had already started falling down. (Remember SG's advice "Keep an eye on index"?). May be it was risky to short in advance, but had a feeling that EMA cross over will happen very shortly because of NIFTY fall, and it did.

Then onwards the price started falling occasionally tresspassing above EMA(20) but OBV was falling continuously and PVI remained below its MA(20). The price tested the 622 level couple of times. Therefore, waited for it to breach 622. But at 12:10 I had to leave the terminal and did not want to take risk. So, covered it at that time with a price of 624.75. The price came to support level later but did not breach it. EMA(20) cross over to BUY side also happened. But I was happy to take whatever profit available without risking.

Later on my return kept watching the price. At 13:03 there was a close below EMA(20), MACD Crossed to SELL side, RSI already below 70 and falling, OBV started falling, PVI went below its MA(20). All these suggested another SHORT and I did it @ 624.20. Again the price remained below EMA(20) and at 13:30 breached the day's low to reach 618.15. At this breach of day's low I put a BUY order @ 618.00 which got executed on next bar. I decided to stop for the day with this covering trade.

This was an experimental trade only. DO NOT VENTURE TILL YOU PAPER TRADE AND GET CONFIDENCE.

The following chart shows the details:

-Anant

Hi Anant,

Is 20EMA standard indicator for 1min Time frame for intraday trading?
I mean... Does it work well with 2min, 5min, 30min charts also?

 

[rajputz]

Dose Savantji had subscribed to other forums also. If yes which one, can U share?

When did i say that savant ji is on other forums. :annoyed:

 

[amit_15]

Patience .... is what is fruitful ...

Patience for the entry,
Patience to hold on
AND
Patience for the exit ....

BUT most importantly ....
PATIENCE in forming a decision to long or short ....

Dear Mr SM,

When you talk about patience, at what time do you say that "enough is enough" and what is generally your Stop Loss? Is the SL a certain percentage like 20% of the position?

Thanks.

Amit

 

[MurAtt]

Dear Mr SM,

When you talk about patience, at what time do you say that "enough is enough" and what is generally your Stop Loss? Is the SL a certain percentage like 20% of the position?

Thanks.

Amit

I am sure that you do need to travel in your city. Either by Bike/Car/Taxi or Bus.

When you stop at a traffic signal ... how do you gauge how much time the signal will remain Red? Initially you will be unable to gauge BUT when you start coming to the same signal for say 10/15 days then automatically you will get an idea ... ok .. left side is on, so next will be right then mine ... then in another 10/15 days you will be able to gauge by time too ... depending on the length of the line of traffic you will know that my signal will start anytime coz the length is much more ... and then again you may find other means too to gauge the next move and time ...

Now when someone asks you HOW you gauge which next, how much time etc ... what will you say? how will you explain?

Difficult na .. same with PATIENCE ...

But if you DO NOT KEEP PATIENCE and break the signal then the traffic cop will give you a challan and fine you .. or you will get challan later for breaking Red Signal etc etc ...

Get the gist ...

Cheers

 

[nimish_rulz]

So the high was taken out brilliantly. Now for tomorrow

Review of : 70999833
as of 10/12/2010
TODAY'S CLOSE 5,850.750
TOMORROW's
PROJECTED HIGH

5,930.30

PROJECTED LOW

5,785.95


BOLLINGER BANDS
CLOSING PRICE:5,850.750
BOLLINGERBAND TOP:
6,168.015
21 DAY MOVING AVERAGE:
5,948.229
BOLLINGERBAND BOTTOM:
5,728.443

On a personal note looking for a level around 5945.

So the trading range given was almost perfect missed upside and downside by 10 odd points each way. Now for tomorrow:

Review of : 70001247
as of 13/12/2010
TODAY'S CLOSE 5,907.650
TOMORROW's
PROJECTED HIGH

5,969.68

PROJECTED LOW

5,851.78


BOLLINGER BANDS
CLOSING PRICE:5,907.650
BOLLINGERBAND TOP:
6,134.294
21 DAY MOVING AVERAGE:
5,943.538
BOLLINGERBAND BOTTOM:
5,752.782

The BB Bands are contracting massively. This is going to be fun.

 

[MurAtt]

1 day fall ... covered by 2 days rise ...

 

[amit_15]

SM,

I understand but.......

Since, I have just started trading options, I don't really know how to gauge. If I was trading IFCI CA60 like you today, what should be my SL or what was your SL?

Thanks.

Amit

I am sure that you do need to travel in your city. Either by Bike/Car/Taxi or Bus.

When you stop at a traffic signal ... how do you gauge how much time the signal will remain Red? Initially you will be unable to gauge BUT when you start coming to the same signal for say 10/15 days then automatically you will get an idea ... ok .. left side is on, so next will be right then mine ... then in another 10/15 days you will be able to gauge by time too ... depending on the length of the line of traffic you will know that my signal will start anytime coz the length is much more ... and then again you may find other means too to gauge the next move and time ...

Now when someone asks you HOW you gauge which next, how much time etc ... what will you say? how will you explain?

Difficult na .. same with PATIENCE ...

But if you DO NOT KEEP PATIENCE and break the signal then the traffic cop will give you a challan and fine you .. or you will get challan later for breaking Red Signal etc etc ...

Get the gist ...

Cheers

 

[MurAtt]

NO SL Amit. My style of trading.

When I see that now either it will give me loss or positively will go against me .. then out ..

 

[rajeshn2007]

SM,

I understand but.......

Since, I have just started trading options, I don't really know how to gauge. If I was trading IFCI CA60 like you today, what should be my SL or what was your SL?

Thanks.

Amit

Hi Amit,

if i could interrupt, don't jump into futures/options as of now.
do small qty in cash market, with some basic strategy, like mov avg crossovers, rsi etc..

 

[beegee]

Mr SG - What is recommended way to start learning options?

Best,
B.G Maxine