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READING THE LINE [DAY TRADERS MIND] - FUTURES ONLY |
amitagg
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Post: #226  Posted: Wed Oct 23, 2013 12:21 pm Post subject: |
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cipla meets target despite down day
sbi in profit as expected
markets on the dot also...posted that yesterday would be up and today down... [seeing prica action booked profits in short of Century and RInfra today] |
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amitagg
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| Post: #227 Posted: Wed Oct 23, 2013 4:05 pm Post subject: |
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Market should be sold till NS crosses 6211...... target 6105 NS
[break of 6154 would confirm move towards min 6105 and likely 6075]
sideways tomorrow and longs above 6180 would be trapped so does shorts below 6160....may be no trading day tomorrow....1st hour will tell |
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amitagg
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| Post: #228 Posted: Thu Oct 24, 2013 9:54 am Post subject: |
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| bought BHEL at 143 with stop at 139.5 contra high risk trade...since at supports with market breaking up |
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amitagg
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| Post: #229 Posted: Thu Oct 24, 2013 1:44 pm Post subject: |
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| hit....reversed...sold short RInfra at 428 SL 440 target 417, 410....no buy till market closes aove 6230 now....will see fall to 6070 minimum now i believe...not immediate but over the next week or so. |
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amitagg
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| Post: #230 Posted: Thu Oct 24, 2013 1:53 pm Post subject: |
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volatility is shakeout for the top....again forget ultimate highs etc....while we may still "believe" further rises and "supports holding"....Nov Dec typicall dull periods......high is made and done....at 6300 whereabouts...
EW waves ??? anybody can calculate...
- 5th done of either 3rd from 5100 or
- 5th done of 5th from 5100
trendline from 5700 also broken below 6200 odd...pls can post chart
there can be another fall before the end of day........markets not stabilising but distributing....the last long entered? |
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amitagg
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Posts: 4559
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| Post: #231 Posted: Thu Oct 24, 2013 1:58 pm Post subject: |
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| 6180 NS is consistently being tested and considering the inability to move above it for past few candles, likely break coming....this is the first short entry for positionals waiting.... |
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amitagg
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Joined: 01 Oct 2013
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| Post: #232 Posted: Thu Oct 24, 2013 2:01 pm Post subject: |
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| was the move from 6160 to 6260 a " long sucker" B wave [extending beyond 5th at 6220] of start of impuse A of downtrend...... |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #233 Posted: Thu Oct 24, 2013 3:10 pm Post subject: |
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as expected markets giving up....
it is a FAILED FAILURE pattern and excellant for shorts |
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rk_a2003
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Joined: 21 Jan 2010
Posts: 2734
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| Post: #234 Posted: Thu Oct 24, 2013 3:59 pm Post subject: |
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| amitagg wrote: | as expected markets giving up....
it is a FAILED FAILURE pattern and excellant for shorts |
No Amit,Till NS close below 6150 EOD. |
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amitagg
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Posts: 4559
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| Post: #235 Posted: Thu Oct 24, 2013 4:09 pm Post subject: |
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| I was missing you RK...i have no position except short Rinfra......would take note of what you say....i have learned to take notice and not be rigid in my opinion...thanks... |
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rk_a2003
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Joined: 21 Jan 2010
Posts: 2734
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| Post: #236 Posted: Thu Oct 24, 2013 6:21 pm Post subject: |
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| amitagg wrote: | | I was missing you RK...i have no position except short Rinfra......would take note of what you say....i have learned to take notice and not be rigid in my opinion...thanks... |
I was busy these days and moreover nothing particular to post.However I am following all the posts in I charts forum. |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #237 Posted: Fri Oct 25, 2013 12:46 am Post subject: |
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| amitagg wrote: | Nifty likely to complete topping pattern this month.....and make high by 5th Nov...which shall not be crossed for next few months.....
as per EW counts [5th of 5th from 5100] and trend channels etc....6300-6400 would be a extremely strong resistance and markets would not touch 6500 at all.....
thats my view......i would look to sell "OTM" calls, above NS 6200 without hedge in few tranches in small quantities......
the last bull shall enter above 6200 not me.....[individual stock buying opportunities shall be multifold based on intra day pattern] |
as written on 16th Oct....is it coming true... |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #238 Posted: Fri Oct 25, 2013 12:48 am Post subject: |
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[quote="amitagg"]here are calcs....
1 5118 5580 462
2 5580 5318 262 (56% of 1)
3 5318 6143 825 (Extended @ 178 % of 1)
4 6143 5700 443
5 5700 upward in play = 5700+462 = 6162 min or 1.618*462+5705= 6452 [it can halt at 1.382 also]
Breakup of 5
1 5700 5950 156
2 5950 5825 125 (50% of 1)
3 5825 - 6156 = (Minimum 6225 @ 161% of 1 to be Extended)
4. 6156-6045
5. to unfold.....
one possiblity:
1 5825 5981 156
2 5981 5877 104 (67 % of 1)
3 5877 6156 279 (Extended as more than 161 % of 1)
4 6156 6045 110 [0.392 approx to .382 of difference]
5 to follow above 6156 till _____say 6045+156=6200 approx or 1.618*156+6045= 6297
6261 is 1.27 of reverse fibo of 6142-5705
6451 is 1.707 reverse fibo of 6142-5705
is this the final count... |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #239 Posted: Fri Oct 25, 2013 10:28 am Post subject: |
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R infra booked 70% ..down Rs 8/- .......  .....did up down trade with market over the past few days.....it has worked .....is likely to go down further....with market...but holding NS 6136-6116 can have short term bounce so squared......
shall swing balance with stop at 428 target 412 cmp 422 |
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amitagg
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Joined: 01 Oct 2013
Posts: 4559
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| Post: #240 Posted: Fri Oct 25, 2013 1:12 pm Post subject: |
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rinfra down Rs 12...booked balance ...holding one lot  with stop at 424...markets can slide to 6080 which would be BUYING AREA |
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