iCharts Discussions

shashangan · Posted: Tue Jun 04, 2013 12:38 pm Post subject:

Place an order to short NF @ 5994-96 with stop 6026. Min Target 5964

Short BNF @ 12530 with stop 12685

Regards,
Gautham Shashangan

shashangan · Posted: Tue Jun 04, 2013 12:55 pm Post subject:

Intra day players - If you have multiple shorts cover partially @ 5960/59 & trail down you stop to cost or 6013 for rest.

Regards
Gautham Shashangan

shashangan · Posted: Tue Jun 04, 2013 1:22 pm Post subject:

If mkt doesn't see some support here soon to go up, there is possibility for Nf to try 5940 & 5910 before close.

Longs have to Stay cautious. It needs to break min 5990 again for possibility to bring in some small buying interest for it to close in green.

Mkt looks overall bearish even if nifty manages to close in green today.

Regards,
Gautham Shashangan

shashangan · Posted: Tue Jun 04, 2013 3:14 pm Post subject:

Place an order to partially cover your shorts around 5918-15.

Mkt looks lower & may possibly open a little lower tomorrow.

Regards,
Gautham Shashangan

satishkadam · Yellow Belt Joined: 01 Apr 2010 Posts: 805

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Dear pkholla,

I thank you for the encouraging words. I want to start a new thread. However, the main constraint is that I may not be able to take part in a discussion during market hours. Infact, I have developed my own SARs for nifty, bank nifty and axis bank counters. It will work for many other counters as well. Time constraint is so much that I am replying to your post more than 2 days later. I am thinking of starting a new thread by name 'Trading methods and strategies' where we can discuss moving averages, pivots, candle stick patterns, fibonacci retracements etc.

I will send a private message to you whenever I start the thread. Active participation of seniors like you with timely inputs and guidances will be cherished.

Best regards,
channasri

shashangan · Posted: Wed Jun 05, 2013 10:19 pm Post subject:

My best wishes to you Channasri. Yes time is a constraint for most people who are working or for someone where trading is not the bread winner.

Your knowledge seems to be good. Just a little dedication & research with patience will start showing direction to analytical mastery.

Good luck
Gautham Shashangan

shashangan · Posted: Wed Jun 05, 2013 10:26 pm Post subject:

12138 & 12068 is the immediate target tomorrow or by Friday for Bank Nifty.

Nf has broken previous 2 weeks lows & also it briefly broke last month's low too today. It should go through tomorrow or coming days convincingly.

Today's bull close is just a correction according to me. I feel the mkt can again open a bit lower tomorrow & the 1st target should be 5845. Though early according to me NF in coming days should target 5750-48 area, where it has some reasonable support followed by 5708 & around 5630-28 region by this month end hopefully.

If mkt doesn't break 5950 tomorrow after open & holds below 5895 probabilities of going lower is much higher.

A break above 6025 will slow down the bearishness temporarily. A strong move above 6055 will marginally bring the bulls to play. A move above 6090 bulls will get a stronger hold, which would be bad for bears. A break or close above 6120 will reverse the trend, very unlikely according to me as of now.

I could be wrong. I am just guessing based on some of my analysis. Please do your own analysis to confirm before trading my call.

I want to take a break for sometime, so may be not quite active in markets from now on. I have been neglecting my work, business & some personal issues due to mkt engagement.

Shall update as & when I have time.

Thanks & Good luck to all
Gautham Shashangan

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Shashangan I thank you for the kind words and encouragement. I don't know when my trading skills become comparable to yours. I am only a humble learner - learning from you and every trader who is better than me and posting their experiences and sharing knowledge in one or other threads. I found that your thread is of very high quality. You are educating and helping many people.

I am a working professional and quite busy as well. Hence, I can take part in my thread or someone else's after market hours - I mean evening/late evenings only. Kindly provide your expert views when I start my thread and guide me.

With best regards,
channasri

satishkadam · Yellow Belt Joined: 01 Apr 2010 Posts: 805

shashangan · Posted: Wed Jun 05, 2013 10:59 pm Post subject:

Thanks for saying my analysis of high quality & also stating that it's of help & knowledge to many people, that is really kind of you.

We all were at some point beginners, knowing nothing. I really thank God for the little knowledge I gained from his blessings.

It's like you will keep getting injured severely in all you initial battles. The mkt will keep defeating you continuosly. You cant win the mkt with your strength (money in this case). You need to work on mental strategies & still you will get defeated. But every time you fall down picking up strength to get up & fight with the never say die attitude is what will ultimately open gates of hope & enlightenment.

So dont worry, Just keep fighting. The mkt always seems like a battle which is impossible to win for many many years. I really appreciate your interest being a working professional. The knowledge you have is commendable for somebody whom mkt is a passive work. You have the spirit to get there one day.

All the best again
Gautham Shashangan

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Shashangan many thanks to you again.

Best regards,
channasri

shashangan · Posted: Wed Jun 05, 2013 11:09 pm Post subject:

You are welcome Satish.

Edited my previous post. Go through it again.

Thanks
Gautham Shashangan

shashangan · Posted: Wed Jun 05, 2013 11:37 pm Post subject:

(Edited) 12138 & 12068 is the immediate target tomorrow or by Friday for Bank Nifty.

Nf has broken previous 2 weeks lows & also today it briefly broke last month's low too. It should go through tomorrow or coming days convincingly.

Today's bull close is just a correction according to me. I feel the mkt can again open a bit lower tomorrow & the 1st target should be 5845. Though early according to me NF in coming days should target 5750-48 area, where it has some reasonable support followed by 5708 & around 5630-28 region by this month end hopefully.

If mkt doesn't break 5950 tomorrow after open & holds below 5895 probabilities of testing 1st target tomorrow itself is much higher.

A break above 6025 will slow down the bearishness temporarily. A strong move above 6055 will marginally bring the bulls to play. A move above 6090 bulls will get a stronger hold, which would be bad for bears. A break or close above 6120 will reverse the trend, very unlikely according to me as of now.

I could be wrong. I am just guessing based on some of my analysis. Please do your own analysis to confirm before trading my call.

I want to take a break for sometime, so may not be very active in markets from now on. I have been neglecting my work, business & some personal issues due to mkt engagement.

Shall update as & when I have time.

Reference (old posts)

http://www.icharts.in/forum/download,id,15841.html
http://www.icharts.in/forum/download,id,15883.html
http://www.icharts.in/forum/download,id,15884.html
http://www.icharts.in/forum/download,id,15842.html

Thanks & Good luck to all
Gautham Shashangan

rsnerella · White Belt Joined: 30 Jul 2008 Posts: 153

Take care of your priority work and come back soon when you find free time. Hope you can set things right and in faster time.