iCharts Discussions

amitagg · Black Belt Joined: 01 Oct 2013 Posts: 4559

placed sell bids at 5665-5725 at 20 intervals....

shashangan · Posted: Fri Sep 06, 2013 11:45 am Post subject:

The mkt is nearing the intra day top. But Hold on to short if you need a better top most price. I shall let you know. It may consolidate here & will take atleast an hour.

Thanks
Gautham Shashangan

shashangan · Posted: Fri Sep 06, 2013 11:52 am Post subject:

Intra day

Medium term multiple lot players can Place their 1st lot order to sell 5677.85 - 79 with tight stop 5705 or 5765(Medium term). Intra day players wait. You can enter for 15-20 points if required or wait.

You can buy some minimum 5200 puts today or wait for Monday.

Thanks
Gautham Shashangan

shashangan · Posted: Fri Sep 06, 2013 12:37 pm Post subject:

Intra day players can cover their short @ 5662-59 & wait for highs to re short. They can test your nerve & keep hunting for stops by breaking highs making small corrections, so need to be careful if anybody put stops just above day's high.

Post 2 pm I am feeling the big fall may start. I can be wrong. Play with caution based on your risking capabilities.

Regards,
Gautham Shashangan

shashangan · Posted: Fri Sep 06, 2013 12:43 pm Post subject:

Intra day

Place an order to Short NF @ 5696-99 with stop 5730 & 5765. Tgt open. Min possible around 5673 & 5655.

Regards,
Gautham Shashangan

shashangan · Posted: Fri Sep 06, 2013 1:25 pm Post subject:

Medium term players, strategy is to to cover the lower shorts & hold the higher short. Eg: now when you have 2 lots shorts at 5678 & 5698, you wait for mkt to come below 5678 & cover it in minimum profit & keep the higher 5698 open. This way you always keep minimum positions & the highest lot, so there is no tension & dont miss the bus when they take you for the eventual long drive.

Once you cover the lower & again if mkt breaks 5698 & you add one more short on the next high & when it corrects cover 5698 & hold the higher one. This is how I play the mkt. Hope it's not confusing.

Regards,
Gautham Shashangan

shashangan · Posted: Fri Sep 06, 2013 1:37 pm Post subject:

Partially Cover your short @ 5672-70 & wait to replace short higher.

Intra day players either you move your stop to cost when ever mkt crosses 15 points profit or book it where ever you feel appropriate based on the min tgt projected, without me saying everytime. I have mentioned this before so reminding again, It goes without saying.

Regards,
Gautham Shashangan

shashangan · Posted: Fri Sep 06, 2013 2:22 pm Post subject:

Can smell the top. Almost near top. I can be wrong.

Place an order to Short NF @ 5701-05 with stop 5747 or 5765. Tgt open. Min intra day possible around 5655.

Regards,
Gautham Shashangan[/b]

amitagg · Black Belt Joined: 01 Oct 2013 Posts: 4559

i guess may be....stops wonder why should be there at such levels...in fact add more shorts at 5750...know anything can happen but past trends, even a one way rise to 5850 SHALL give 200 points downside

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

amitagg · Black Belt Joined: 01 Oct 2013 Posts: 4559

oe more thing, i am not smelling the top..top can be above 5750 - 5850!!! but i am trading one direction only.....bravehearts and "right technical trend following traders and take longs, not me"

shashangan · Posted: Fri Sep 06, 2013 2:34 pm Post subject:

Yes Amit,

There is also possibility they will break the high & close it at top near closing.

If that happens today people who have guts can short it & carry it for medium term. I dont know mkt may open same or higher also, it will still give exit if you have buffer of min. 100 points, but in case mkt opens lower it wont give a chance for higher levels to short.

Longs would be trapped in the fools paradise thinking weekly closed strong & next week bigger harvest to reap. Icing on top is the Inverted H & S. Well analysing psychology.

Not necessary I should be right. I can myself be totally wrong. It's purely my opinion.

Regards,
Gautham Shashangan

shashangan · Posted: Fri Sep 06, 2013 2:42 pm Post subject:

For today 5640, then 5612 will trigger some important stops followed by 5590.

5565 will trigger intermediate stops. 5515 below free fall overall.

amitagg · Black Belt Joined: 01 Oct 2013 Posts: 4559

see below, as someone says "professionals"...they are

- trapping early shorts [ not shorting is not early short]
- already trapped out of the money puts taken at lower nifty levels
- trapped call writers

i may miss adding shorts above 5700 is market turns from here, but since i am trading (my way) against trend, i would short [AS NEAR AS POSSIBLE] my targets....given earlier than 1-2 weeks back, 5770 on upside, not slightly modified to 5850 [2 days before]

lets hope...this happens..when all are waiting for market turn, it would go up still by 100-150 points....but i am shorting methodically at every level...as very rightly explained by you below..may be some variation

amitagg · Black Belt Joined: 01 Oct 2013 Posts: 4559

also having average sold at 5685 , i shall average sell at 5725 minimum -5750 N], not adding any short till 5725.