Trading Strategies Using Technical Analysis

[alroyraj]

Hi Raunak, what do you suggest about these:

Glenmark 100 shares @271. After results there was a severe selloff,am clueless.
Cairn is doing ok at 295. Holding expecting a tgt of 700 by year end
Also what is a good time to enter M&M at what price (considering to shift the Glenmark amount to this).
Also 300 NHPC @30.8 Expect a tgt of 50 by year end. Is it justified?
These are the long term positions.
Also some attempted swing trades as follows still open.
AIA at 10@ 365
Cadila 5@637 Seems like the dip caused by the dividend declaration is over.

Thanks for your time and guidance. Appreciate your support.

 

[Apurv7164]

Though asc triangle on 5 min chart can be used one can not do back testing of such subjective strategy and thus probability study for live market. For beginers it makes sense to use just objective strategies like MA etc...

IMO, Objectiveness is not in system, it is in mind... When one is running high on emotions, it is really difficult for the person to be highly objective and keeps on failing... it is common across the globe no matter whether it is business of trading or any other profession.

I would like to share my own experience - when I passed out with my software degree back in 2003, I was struggling hard to get decent job (IT was just coming out of wounds). I started getting into trading just to keep my mind occupied and get lil relief from the frustration of being BEROJAGAR.. Here my point is I was not going through balanced mind set... During those days I kept on jumping on to different methods, systems, strategies and nothing worked for me....

Then eventually, I got the job in the world of software in 2005 and started getting into balanced mind set... now what I m observing is same bloody methods, systems and strategies started working for me as big as one can say WOW WOW WOW! Then I started getting feeling that it is purely luck that these methods did not work back in 2003/2004 and now in 2006/2007/2008 I am lucky and they are working.... then again they did not work in 2009 so I stopped trading with the thought that year 2009 is not lucky enough for me...

Then in early this year (2010), I accidently happened to visit one website related to meditation and attended a seminar on the subject matter of Left and Right Hemisphere of brain and its functioning...

Then I started going through thought process of why I failed in trading in 2003, 2004 and 2009???!!! Why I got beautiful success in 2007, 2008 and 2010???!!! What is common???!!! As a result I realized that during 2003/2004 I was going through professional problems in life and in 2009 I was going through personal problems in life... During both the phases I was not working with balanced right and left hemispheres of brain i.e. in simple words I was not having balanced mind set due to high degree of emotional flows.. Here emotions cud be anything anger, greed, fear, utter pessimism, utter optimism, access happiness, access sadness etc....

As a bottomline, I would say balanced mindset is key to success in trading... many new traders/readers here might be facing similar problem. Observing Karan's posts I started getting flashes of my past (No personal offense Karan, just got into some past memories)... My intention of writing this long story is to explain that be calm, cool down ur emotions, sit aside and think think think....

I can talk or write as long as you want on this subject so better now I end here with the last word... I love Thomas DeMark's statement, "Read, read and read a lot, research a lot and experiment a lot..." I personally say, reading, researching and experimenting is very helpful in cooling down emotions...

Bests,
Apurv

 

[SwingKing]

Hi Raunak, what do you suggest about these:

Glenmark 100 shares @271. After results there was a severe selloff,am clueless.
Cairn is doing ok at 295. Holding expecting a tgt of 700 by year end
Also what is a good time to enter M&M at what price (considering to shift the Glenmark amount to this).
Also 300 NHPC @30.8 Expect a tgt of 50 by year end. Is it justified?
These are the long term positions.
Also some attempted swing trades as follows still open.
AIA at 10@ 365
Cadila 5@637 Seems like the dip caused by the dividend declaration is over.

Thanks for your time and guidance. Appreciate your support.

Alroyraj,

I'll have a look at them and will let you know.

TC

 

[MurAtt]

@Apurv ...

What net charting service are you using? Like I saw icharts BUT when I visit icharts, the chart is much smaller.

Are you by any chance a paid subscriber so you are getting a bigger chart ?

 

[Apurv7164]

@Apurv ...

What net charting service are you using? Like I saw icharts BUT when I visit icharts, the chart is much smaller.

Are you by any chance a paid subscriber so you are getting a bigger chart ?

Yep I use icharts only but i use old charts listed in left menu... and I m not paid member...

However, now most of the time I use Ami or MetaStock... I use online just when i want quick reference...

 

[SwingKing]

Alroyraj,

I'll have a look at them and will let you know.

TC

Hi Raunak, what do you suggest about these:

Glenmark 100 shares @271. After results there was a severe selloff,am clueless.
Cairn is doing ok at 295. Holding expecting a tgt of 700 by year end
Also what is a good time to enter M&M at what price (considering to shift the Glenmark amount to this).
Also 300 NHPC @30.8 Expect a tgt of 50 by year end. Is it justified?
These are the long term positions.
Also some attempted swing trades as follows still open.
AIA at 10@ 365
Cadila 5@637 Seems like the dip caused by the dividend declaration is over.

Thanks for your time and guidance. Appreciate your support.

@Glenmark - Exit it. Not trending for more than a year now. Many better options available.
@Cairn - Should be doing even better as year progresses. If markets come down, try and accumulate more.
@M&M - Buy 20% right away. Keep averaging on market declines.
@NHPC - At present no signs that it will reach 50 by year end.
@AIA - If the stock has to maintain its upward momentum, it should start doing well in next few sessions. Else prepare to exit.
@Cadila - Ideally this should be in your portfolio as Investment. Not for Swing trade.

Tc

 

[rrmhatre72]

Quote:
Originally Posted by raunakagarwal
I'll ask you to post this query in options thread for a detailed overview. Also, if you are bearish in the market, you could also have followed what ST said, that is, simply buying put options.

Anyway with the strategy you have mentioned, I think you should be fine. Only concern is options eating away your profit. However, if you are a conservative trader, then this should work out well for you.

Whether markets will move up or not is difficult to answer. Indications have been for long that weakness is lurking underneath. But when does it materialize is something very difficult to answer.

Keep a SL of 5575 - 5600 in mind. I doubt we will reach 5600 levels. But then, I have been proven wrong so many times that it makes me feel really old at times. This is where Risk management comes into the foray.

Tc

Thanks Raunak,

I am trying to undertsnd risk management concept.
I agree with my position(NF short @5445 & 5400CE buy @110) I have risk of max65points. if I am carrying positions till Aug End & if market is above 5335(this is break even).
I know Option is eating my profit. but is there any solution to it?
Pls advice me how should I play in the market with this position.
Or how experience traders like you will trade in this case?

You have indicated in one of the post that you are short in market with adequate protection. If you can share one example of your protection then it will be helpful to understand concept better.

Hi Raunak,

Appreciate your guidance

 

[rrmhatre72]

@Glenmark - Exit it. Not trending for more than a year now. Many better options available.
@Cairn - Should be doing even better as year progresses. If markets come down, try and accumulate more.
@M&M - Buy 20% right away. Keep averaging on market declines.
@NHPC - At present no signs that it will reach 50 by year end.
@AIA - If the stock has to maintain its upward momentum, it should start doing well in next few sessions. Else prepare to exit.
@Cadila - Ideally this should be in your portfolio as Investment. Not for Swing trade.

Tc

Hi Raunak,

I am planning to have monthly SIP in M&M & L&T for next 5years(i.e. instead of going for MF SIP, I will invest in stock directly with same ammount). Will it be right statergy? Is 5years timeframe ok?
you can also advice if there are any more better stocks from this longer term point of view where I can expect better returns.

 

[SwingKing]

Hi Raunak,

I am planning to have monthly SIP in M&M & L&T for next 5years(i.e. instead of going for MF SIP, I will invest in stock directly with same ammount). Will it be right statergy? Is 5years timeframe ok?
you can also advice if there are any more better stocks from this longer term point of view where I can expect better returns.

Idea is good. But time your move accordingly. Whenever the next leg of correction happens, it will be right time to move in. At these levels, market's are fairly valued. Choose stocks which will lead the next upmove. This will only be clear once the index corrects and begins to move upward.

Tc

 

[simple_trader]

Hi Raunak,

I am planning to have monthly SIP in M&M & L&T for next 5years(i.e. instead of going for MF SIP, I will invest in stock directly with same ammount). Will it be right statergy? Is 5years timeframe ok?
you can also advice if there are any more better stocks from this longer term point of view where I can expect better returns.

We may go through a phase where market may remain in ranges and test your patience! Do not rule out this possibility.

It may not be a bull market. If it is, all will make money, if not then it can be teaser!

Happy Trading!