iCharts Discussions

shashangan · Posted: Fri Jul 12, 2013 12:12 pm Post subject:

Hello Saumitra,

Am out of town, so not able to analyze NF thoroughly.

Anyway had a brief look & feel between (5940 - 6005+) could be possible range till Monday.

There could be stiff resistance between 5993-6003 region. A close below 5850 today can be bad for bulls.

I still feel Mkt can take a turn soon downside & again break 5550 by next month & probably it's doubtful for mkt to break previous high. If it breaks 6120 strongly we need to become a little cautious.

I can be wrong though, so kindly do your own analysis too.

Regards,
Gautham Shashangan

Andre · White Belt Joined: 06 Jun 2012 Posts: 220

Your views on bank nifty..Shashangan....

shashangan · Posted: Fri Jul 12, 2013 12:55 pm Post subject:

Andre

11520 - 11810 could be range till Monday.

Bears should be cautious above 11980 & above 12965 could be reversal.

A strong break or close below 11650 today is bad for bulls.

Overall target by next month possibly could be 10780 around.

I am also a bit confused & not very clear, so mkt can be dicey. Play with extreme caution. When I get time to analyze thoroughly & when I am confident shall give my entry calls.

Regards,
Gautham Shashangan

ritapandit25 · Black Belt Joined: 04 May 2013 Posts: 2926

SIR, I SHORT NF @ 5995 SHOULD HOLD OR EXIT AT 6035 IF NF CROSS. YOUR VIEW AFTER TODAY CLOSING.

shashangan · Posted: Fri Jul 12, 2013 10:55 pm Post subject:

Hello Rita,

I am not sure, mkt has closed strongly, so it's slightly up for the moment.

You may get 5970, but cover it at break even & wait to short higher. Mkt may try 6025 & above.

I wont be able to update from Monday if I dont have net.

Thanks
Gautham Shashangan

Gemini · White Belt Joined: 28 Apr 2009 Posts: 166

Hello Gautam,

Sincere thanks for sharing your views regularly inspite of your busy schedule.

Please permit me to respond to Rita:

Rita : In my opinion, firts you should decide what kind of trades you plan to take : Intra-day, Swing ( few days ) or positional (few weeks). And then adopt a propoer technicals based strategy. Many of them are available on this forum and Gautamji has been also guiding us.

I prefer to have swing trades and I am following ema 3/15 cross-over along with PARSAR and ADX. Once you start following a specific set-up, please follow it religiously. I have committed mistakes in the past based on "emotional" decisiosn ( "Market must go down now becasue ... ... etc.). and suffered and hence this suggestion.

Have proper hedging / SL strategy in place and attempt to trade on your own.

All the best and sorry for intervention.

ritapandit25 · Black Belt Joined: 04 May 2013 Posts: 2926

Thanks Gautam Sir & Gemini for giving me valuable guideline.

shashangan · Posted: Sat Jul 13, 2013 12:54 pm Post subject:

Hello Gemini,

Anybody is open for sharing their view, unfortunately I am not a fundamental trader. I dont get time to track news or have patience to go through it. That's one of my big drawback & challenge.

Well but I always tell people, if there is some news around not to trade my views or calls.

But true, playing with a plan & discipline will always give you consistent results.

Carrying positions always gives us tension & worry. So kindly make sure what is the risk you can take if not like you mentioned hedging in the next contract is a wise thing.

Mkt is always the expert & guru. Nobody greater than mkt, so I too make mistakes. But how we handle mistakes & our mind at times of wrong entries will tell us whether we fit to this mkt.s or not.

Regards,
Gautham Shashangan

jk99 · White Belt Joined: 20 May 2013 Posts: 81

sir
shanshangan/gemini

i cant find ADX in premium chart.
is it same to DMX(directional movement index)

regards

Gemini · White Belt Joined: 28 Apr 2009 Posts: 166

Dear JK 99,

Yes, you are right. I have a thread which you can visit at

http://www.icharts.in/forum/viewtopic,t,5196.html#100413

Any further questions related to that set-up may please be posted there.

Dear Gautam,

Very well said. Trading any set-up is bound to have situations where we incur loss. How we handle those situations decide on our success / failure. It is quite an humbling activity !

It is amazing how I have gone wrong in that aspect and carried loss making positions far longer than profit making positions.

Yes, market is supreme.

Happy Trading...

jk99 · White Belt Joined: 20 May 2013 Posts: 81

sir gemini
thank you for the link.
here i am some confussion
as 12/07/13 in nifty spot daily chart
3ema is greater than 15ema
par also below price
+dx is higher than-dx .
but,adx is below 20. what it express
or 2/3 days in sideways.

withregards

Gemini · White Belt Joined: 28 Apr 2009 Posts: 166

JK 99,

1. There is no "Sir" here !

2. Please put your questions on another thread ( I have provided link in this thread earlier).

3. I have put up my response over there.

Bye.

ritapandit25 · Black Belt Joined: 04 May 2013 Posts: 2926

shashangan · Posted: Wed Jul 17, 2013 10:42 am Post subject:

Hello Rita,

I am out of town, just having short glances. So not sure If my views will come fully right.

Anyway Intra day - I think 5997 can be shorted for min 5965 now.

I am not sure. There is a small possibility of testing the high around 6040.

Regards.
Gautham Shashangan

shashangan · Posted: Wed Jul 17, 2013 1:01 pm Post subject:

Just had a look at Bank Nifty. Looks more vulnerable than Nifty. A close below 11030 for the week & a sharp dip below 10880 will trigger most of the long term positional stops to target below 9850.

This should help bringing down Nifty as well. I may be wrong. Let's see.

Regards,
Gautham Shashangan