Swing Delivery Trading

[anayash]

Hi ashpats.

When you have talked about support and resistance, then it is itself an indicator. Just add volume to it. And correlate the action....

Regards

hi rajputz,

I am currently using the Robert's Pivot Points AFL for finding support & resistance levels but it gives only figures & I am more comfortable with levels on charts in the form of lines.

could you please suggest some good AFL or Indicators which shows support/resistance levels on charts? do u use the Fibo retracement study which is built-in in amibroker?

 

[rajputz]

hi rajputz,

I am currently using the Robert's Pivot Points AFL for finding support & resistance levels but it gives only figures & I am more comfortable with levels on charts in the form of lines.

could you please suggest some good AFL or Indicators which shows support/resistance levels on charts? do u use the Fibo retracement study which is built-in in amibroker?

You dont need any afl for that. you need to use horizontal lines to watch previous support and resistances...

And also check reliance with volumes...you can read some thing with volumes: -

 

[anayash]

You dont need any afl for that. you need to use horizontal lines to watch previous support and resistances...

nice chart!!

so to calculate the S/R levels for intraday purpose....u manually do it based on EOD OHLC? & draw the lines manually as well?

u use Fibonacci pivots or any other?

sorry to bother u with so many Qs!

 

[rajputz]

Yes. The indicators i use along are stochastic, RSI, CCI...Some times market profile also...

 

[hawaisanjay]

Rajputz Sir, ICICI bank looks good for buying..what is your view?

 

[anayash]

Yes. The indicators i use along are stochastic, RSI, CCI...Some times market profile also...

sorry sir but dat doesn't answer my question!

m talking abt S/R levels on charts!

 

[$ashpats$]

Rajputz
How do u cover ur positions of Futures (Long or Short).
By writing options call /put or purchasing options call/put


Thanks

AshPats :lol:

 

[rajputz]

Rajputz Sir, ICICI bank looks good for buying..what is your view?

sorry sir but dat doesn't answer my question!

m talking abt S/R levels on charts!

Rajputz
How do u cover ur positions of Futures (Long or Short).
By writing options call /put or purchasing options call/put


Thanks

AshPats :lol:

Hi hawaisanjay,

Let icicibank close above 1172 buddy...thats the point to be broken...Otherwise can retrace back on weekly charts...And otherfactor is that it can be good share for swing trading or day trading at the moment, but for investment or little longer period its totally no no for me...i would rather wait for retracement to downside levels at 800-900 but not now...

Hi Anayash,

I have cleared myself enough about support and resistance levels. The thing i am avoiding here is spoonfeeding, which will not help any body. For that i have given you enough clues to study. Let me again summarize them - previous support and resistance levels, Horizontal Lines on them, Plus price and Volume action at that particular support or resistance, Plus your own analyzing, observing and learning method....Now rest is how u do hardwork. dont take it negatively, but for this spoonfeeding i have wasted enough of my time...it was ultimately my own syste, that i came up wid, which finally worked....

Hi ashpats,

I deal in futures only, and no options. Will be starting with options in few days. Will share my views about that.

P.S. - I have taken a wrong position in Cipla. It has generated a weekly buy. But it can be negated so i will still follow my stoploss. Ready to take risk, as trend on Higherframe changes after change in lower time frame.

 

[$ashpats$]

Hi hawaisanjay,

Let icicibank close above 1172 buddy...thats the point to be broken...Otherwise can retrace back on weekly charts...And otherfactor is that it can be good share for swing trading or day trading at the moment, but for investment or little longer period its totally no no for me...i would rather wait for retracement to downside levels at 800-900 but not now...

Hi Anayash,

I have cleared myself enough about support and resistance levels. The thing i am avoiding here is spoonfeeding, which will not help any body. For that i have given you enough clues to study. Let me again summarize them - previous support and resistance levels, Horizontal Lines on them, Plus price and Volume action at that particular support or resistance, Plus your own analyzing, observing and learning method....Now rest is how u do hardwork. dont take it negatively, but for this spoonfeeding i have wasted enough of my time...it was ultimately my own syste, that i came up wid, which finally worked....

Hi ashpats,

I deal in futures only, and no options. Will be starting with options in few days. Will share my views about that.

P.S. - I have taken a wrong position in Cipla. It has generated a weekly buy. But it can be negated so i will still follow my stoploss. Ready to take risk, as trend on Higherframe changes after change in lower time frame.

Rajputz
So ur positions are open without any cover.
It means it is must for u to follow the rule of stoploss

Grt Thnks for the info

AshPats :clapping:

 

[rajputz]

Rajputz
So ur positions are open without any cover.
It means it is must for u to follow the rule of stoploss

Grt Thnks for the info

AshPats :clapping:

If the system is really good then it doesnt matter if you have a cover or not.

Even if i say that cipla is a bad entry, then the thing to remember is that: -

1. It didnt hit the stoploss yet.
2. It is still open.
3. Market hasent reversed.
4. What if the market bounce at the eod was just temporary or fake. Any thing can happen.
5. May be i find some other good entry, which negates the loss in cipla and nifty.
6. Cipla gives opposite movement to market.

Hoping for good and following the system is what we need to do.

I will just go by the rules.