Trading Strategies Using Technical Analysis

[rrmhatre72]

Hi Raunak,

It was based on 315 Strategy.
Today WIPRO, TS,Lupin & Reliance got sell signal as per 315.
I initiated short trade only in WIPRO & gained 7points (Short 466 & cover 459). But after that stock picked up & moved to 474 which was above 3EMA(472) & below 15EMA(476).
As per 315, It is still a short signal.
Then it drifted down to 470. Hence I thought it is confirmation on sell signal.
But thought of checking with you as in intraday it bounce from 455 to 474. I was not sure if this move was giving any change in price structure.

As per today's closing still it is still sell signal. I think close above 480 will give buy signal as per 315.

I think 315 signal worked well on other stocks..

Hi Raunak, ( I am comfortable with your name only)

WIPRO closed @453 today.
You had indicated below 460, this will be good to short..
Appreciate if you can post graph of same.
Also guide how have you analyzed & decided 460level to short?

Till now I was monitoring it against 315 & observed that it was unable to cross 15EMA(@475). It use to go upto 473 & move down from there.

315 system has whipsaw sometimes. Hence I want to crosscheck 315 signals with some other system. If you can explain your logic with graph then it will be great help.

 

[rrmhatre72]

You read my mind.... I was thinking exacly in simillar mananer.... but taking position only tomorrow if it close above 240 today & tomorrow's opening is above that....

Change in name..... hummm... now at least people will stop spelling mistakes in your name...

Hi Raunak

Hindalco closed @235.... Wait & watch for one more day....
If it goes below 230 tomorrow then will it be good candidate to short?

 

[SwingKing]

Rajesh,

There is nothing unusual I found in the Hindalco Price. All I can say is that last few days action has made a new base for it. That is 240. Last two days have been particularly bullish with reasonable WRB. Stock still remains strong overall. The psychology you need to have for this stock is bullish above 240, bearish below it.

Tc

Hi Raunak

Hindalco closed @235.... Wait & watch for one more day....
If it goes below 230 tomorrow then will it be good candidate to short?

Rahul,

I think you had missed this message.

Have scalped Hindalco quite a few times below 240.

It was short below 240, buy above 240.

Tc

 

[SwingKing]

Hi Raunak, ( I am comfortable with your name only)

WIPRO closed @453 today.
You had indicated below 460, this will be good to short..
Appreciate if you can post graph of same.
Also guide how have you analyzed & decided 460level to short?

Till now I was monitoring it against 315 & observed that it was unable to cross 15EMA(@475). It use to go upto 473 & move down from there.

315 system has whipsaw sometimes. Hence I want to crosscheck 315 signals with some other system. If you can explain your logic with graph then it will be great help.

I'll try and put the chart up tomorrow.

Some problem with data provider.

Tc

 

[DanPickUp]

Damn it!

SBI fall really hurt today... I thought 2600 was a strong base... :sigh:

Hi Gauharjk

I do not trade this stock. Even then, I follow it, because I made an analyzes about it and posted it in this thread last week. It was an analyzes with out indicators, just on the charts from different time frames with some patterns, channels, trend lines and pivot lines.

I now see, that you choose the 2600 line to be a strong base.

I do not know, on witch time frame you see that. If you, for example, choose a five day time frame, which you can on yahoo finance, you will look at every day by it self.

If you now check support and resistance on each one of this five days, you will see, that 2600 is never a daily support or a daily resistance. It is always some where in between.

We call such zones : "The killing fields", as market can go up or down. Try to avoid this zones and try to place your trade more near resistance and support lines or points.

DanPickUp

 

[saivenkat]

Hi Gauharjk

I do not trade this stock. Even then, I follow it, because I made an analyzes about it and posted it in this thread last week. It was an analyzes with out indicators, just on the charts from different time frames with some patterns, channels, trend lines and pivot lines.

I now see, that you choose the 2600 line to be a strong base.

I do not know, on witch time frame you see that. If you, for example, choose a five day time frame, which you can on yahoo finance, you will look at every day by it self.

If you now check support and resistance on each one of this five days, you will see, that 2600 is never a daily support or a daily resistance. It is always some where in between.

We call such zones : "The killing fields", as market can go up or down. Try to avoid this zones and try to place your trade more near resistance and support lines or points.

DanPickUp

Hi Dan bro,
Can i add some more of SBIN to my portfolio at this level? or shall wait some more time?

 

[shinchan]

Let it settle down first.

Hi Dan bro,
Can i add some more of SBIN to my portfolio at this level? or shall wait some more time?

 

[DanPickUp]

Hi Dan bro,
Can i add some more of SBIN to my portfolio at this level? or shall wait some more time?

Hi saivenkat

You may read first this analysis and compare it with the price, where SBIN is today.

http://www.traderji.com/technical-a...-using-technical-analysis-460.html#post511118

2560 was mentioned and there we are.

The analyses is pure chart technique and doe's not include any fundamentals or announcement of SBIN or any macro economics from India. Be clear about this.

The main trend is still down. We may have seen a bottom now. Even than, be careful to go long now and if you do so, start with small units and build them up very wisely and very carefully. Build them only up when market shows more strength by taking levels like 2640, 2680, 2750. If the market can take the last swing high around 2850, this would be a good sing for bigger positions with good MM.

Do not forget : This is my opinion and no recommendation to take any action. If you take any action now, it is on your own respond and you have to use wisely money management.

DanPickUp

 

[RajeshDua]

Rahul,

I think you had missed this message.

Have scalped Hindalco quite a few times below 240.

It was short below 240, buy above 240.

Tc

Dear SK, If you Pl share if you have specific system or way for scalp, I was't got chance at pullbacks 20 SMA to go for short also what stopping was its aggressive bullish rise of price movements..
Regards
Rajesh

 

[EagleOne]

Congratulations, Sir!

Raunak ji
Congratulations on becoming one of TJ's moderator. I have no idea what it means apart from having the previlage to delete posts. I hope, being a worldly wise, widely-travelled gentleman, you won't exercise this whimsical previlage as other super-duper mods, whom I lovingly call Toms&Jerrys, and who are so averse to criticism. Nor would you, I hope, allow my good friend, Dan, to drive down from the mountains in his PickUp and demand to Ban people with avatars he hates. That is, all in all you will remember Voltaire.

I make sure to come to your thread whenever I am on TJ - even for just a cursary glance. And I always found you a patient, friendly and gentle teacher. The very first page of your thread is a rite of baptism for the uninitated chart reader.

Other thing, I must say, in praise of your rightly-earned respect from your students, is this: Some of them are in direct contact with me; and whenever we discuss charts etc., they call you 'Raunak Sir'. I think it tells more than the words carry.

You may disagree with my observation but in my opinion, we all are in the most ruthless, most honest, most fascinating business - stock trading. And yet, people like you, SG, Saint, Columbus, HuntwithTrader, Gangadharan, and many more noble souls take time to share their hard earned, tear stained experiences with the novice - and that too, for free! I salute you all. Whatever I am today as trader, the credit goes to people like you, sir.

My sincere wish is: one day many traders, looking at lakhs in their ledger, would say as your worthy student, Gangadharan, a thorough gentleman, would love to say: It is all because of my guru, Raunak Sir.

May you live long and happy. And Happy Lohari.

P.S. Can't help it, so, allow me to pull your leg. Please get rid of this new name 'SwingKing' and revert to the previous. I mean, I wouldn't like to be one who'd say after looking at the lakhs in my ledger: It is all because of SwingKing. God! Won't it remind them of the genre of films like 'Deep Throat'?