Technical Analysis - Practice trades

[mindgames]

RAMKY INFRA

Another one for study....

This one did not work. Stock is up by further 20% and zooming.

 

[mindgames]

Trade 1 of 2016

Stock: ITC
Buy: 290 on 26 Feb 2016
Sell: 324.5 / 329.7 / 320.85 on 2 March, 4 April and 25 April
Holding period: 5 /38 / 59 days
Trade reason: Stock near weekly support area

Comments
1. Should not have taken this trade as it was a day before the budget and cigarette stocks specifically are very volatile and see drops.
2. Was lucky that this was a profitable trade. Could not sell the stock at stop loss of 283-284 as the stock was not delivered.
3. Closed 50% on encountering bear bar after strong run up. Closed 25% on seeing breakdown from resistance area. Balance 25% covered at trailing SL at swing low.

 

[mindgames]

Trade 2 of 2016

Stock: MINDTREE
Buy: 797 on 4 March 2016
Sell: 668.4 / 6425.8 on 10 March, 16 March
Holding period: 6 / 12 days
Trade reason: Stock closing near end of trading range and at 52 week / all time high. Hoped to catch breakout on good results.

Comments
1. Yet another trade where could not sell on stop loss as stock was not delivered.
2. Should not have taken a trade before results.
3. Good thing though was that I entered very small, hoping to get out if the trade did not pan out well. Definitely did not expect a huge gapdown.
4. Learning: Try not to take position just before results. Enter small in case you do do. Always wait for proper breakout from trading range.
5. Since there was a bonus issue, the bonus stocks were delivered even later. This resulted in exiting later at even lower price.

 

[mindgames]

Trade 3 of 2016

Stock: COALINDIA
Buy: 297.5 on 14 March 2016
Sell: 292.4 on 28 March 2016
Holding period: 14 days
Trade reason: Stock near weekly support area. Edit: Hoped that gap down after ex-dividend would be filled in over a week

Comments
1. Decided to test out luck since stock opened near weekly support area. Did not wait to check if support would hold.
2. Good thing to enter with a very tight SL. Stopped out by trailing SL
3. Should be careful while playing gap fills as not always are they filled immediately.

 

[anil_s_trivedi]

Trade 3 of 2016

Stock: COALINDIA
Buy: 297.5 on 14 March 2016
Sell: 292.4 on 28 March 2016
Holding period: 14 days
Trade reason: Stock near weekly support area

Comments
1. Decided to test out luck since stock opened near weekly support area. Did not wait to check if support would hold.
2. Good thing to enter with a very tight SL. Stopped out by trailing SL

Dear mindgames,

I remember it...Rangarajanji asked for my views...and as stock created gap down on eve of dividend this gap was surely meant for resistance in near term...

Also, such gaps take time..and market participant cant jump in it as probably of going sideways to down is far more greater than rise in near term...

 

[dhvl]

Because you like to trade S/R levels, I'd suggest putting on a Bollinger band. That way you have another filter to know if the area is going to hold or whether it's going to break out.

Sent from my 2014818 using Tapatalk

 

[mindgames]

Trade 4 of 2016

Stock: MARUTI
Buy: 3511.45 on 8 March 2016
Sell: 3555 on 5 April 2016
Holding period: 28 days
Trade reason: After a downtrend, 29 Feb - 1 Mar was a bullish engulf pattern on daily chart. So, entered on 8th Mar when price pulled back.

Comments
1. Stopped out by trailing SL

 

[mindgames]

Dear mindgames,

I remember it...Rangarajanji asked for my views...and as stock created gap down on eve of dividend this gap was surely meant for resistance in near term...

Also, such gaps take time..and market participant cant jump in it as probably of going sideways to down is far more greater than rise in near term...

what memory!

Yes, I was hoping that the gap would fill in a week or so and planned to cover around 325 levels - you have now helped me update this in my diary.

 

[mindgames]

Trade 5 of 2016

Stock: MARUTI
Buy: 3470 on 7 Apr 2016
Sell: 3477 on 7 April 2016
Holding period: Intraday
Trade reason: Price recovering from day's low and stabilizing.

Comments
1. If a target stop had been set, could have covered at intended sell price of 3482. Price fell immediately after crossing desired target.
2. Was a revenge trade as earlier in the day, had placed a market buy order by mistake instead of limit order. Should avoid revenge trading in future and also be very careful while placing orders.

 

[mindgames]

Trade 6 of 2016

Stock: BATAINDIA
Buy: 503.55 on 22 March 2016
Sell: on April 2016
Holding period: days
Trade reason: Ichimoku breakout

Comments
1. Covered 50% at prior resistance area.
2. Balance 50% covered at trailing SL. Trailing SL was set incorrectly at random no. (fear of losing profits?) instead of prominent swing low. Could have been more profitable if this was done correctly.