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READING THE LINE [DAY TRADERS MIND] - FUTURES ONLY |
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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Post: #286  Posted: Mon Nov 11, 2013 1:28 am Post subject: |
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Banking has retraced 62% to 50% of previous down falls......axis sbi 2/3, icici &boi - 1/2, etc.
bank nifty may be key...it stocks afte SBI results give way, then Nifty / BNF would be distributing....
key is to SELL when i) previous swing highs / pivot resistances not getting crossed and stocks ii) selling intra day.....NOT to adopt buy on decline strategy.
this view is for few weeks next.........
sbi can be shorted on rallies till results......
boi below 212 [above 221 231 shall hit]...upside most 257...downtargets much much more if 212-215 starts getting broken
reliance infra...sell below 430 [if 430 keeps getting hit] [..its current 450...and would give some interesting short opportunities if up trendline is broken]
century ...watch closely below 290...not immmediate sale....but upside capped 307-320...looking stong on intra day and daily charts....so if market gives way....it would have "higher down targets"...shall watch for "reversal" here.....clear sell below 283....
so watching rinfra, century, boi, sbi and shall generate opportunities based on market moves next week or so.....
etc etc. |
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reachchirag
White Belt
Joined: 28 Nov 2012
Posts: 102
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| Post: #287 Posted: Mon Nov 11, 2013 11:41 am Post subject: Dr Reddy - Spike & Channel |
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Hi amitagg...
Spike & Channel in Dr. Reddy?? Can you confirm??
Thanks! |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #288 Posted: Mon Nov 11, 2013 12:40 pm Post subject: |
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traded profitably rinfra and century...could not post...now watching closely...again if rinfra fall below 441 / century falls below 282 to sell.....[[but market can stablise now for few days]
dr reddy no spike... |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #289 Posted: Mon Nov 11, 2013 12:42 pm Post subject: |
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| i shall buy intra day jindal steel futures today above 240 for small 2-3 rs profit....waiting |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #290 Posted: Mon Nov 11, 2013 12:43 pm Post subject: |
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| to reiterate, IF is key word for rinfra / century....since support holding still |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #291 Posted: Mon Nov 11, 2013 12:57 pm Post subject: |
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| amitagg wrote: | Banking has retraced 62% to 50% of previous down falls......axis sbi 2/3, icici &boi - 1/2, etc.
bank nifty may be key...it stocks afte SBI results give way, then Nifty / BNF would be distributing....
key is to SELL when i) previous swing highs / pivot resistances not getting crossed and stocks ii) selling intra day.....NOT to adopt buy on decline strategy.
this view is for few weeks next.........
sbi can be shorted on rallies till results......
boi below 212 [above 221 231 shall hit]...upside most 257...downtargets much much more if 212-215 starts getting broken
reliance infra...sell below 430 [if 430 keeps getting hit] [..its current 450...and would give some interesting short opportunities if up trendline is broken]
century ...watch closely below 290...not immmediate sale....but upside capped 307-320...looking stong on intra day and daily charts....so if market gives way....it would have "higher down targets"...shall watch for "reversal" here.....clear sell below 283....
so watching rinfra, century, boi, sbi and shall generate opportunities based on market moves next week or so.....
etc etc. |
BOI has touched 213 today and rallied to 225....no trades taken...just mentioning levels mentioned earlier |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #292 Posted: Mon Nov 11, 2013 3:00 pm Post subject: |
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| amitagg wrote: | traded profitably rinfra and century...could not post...now watching closely...again if rinfra fall below 441 / century falls below 282 to sell.....[[but market can stablise now for few days]
dr reddy no spike... |
both r infra and century breaking down...end of day...so no trade may be...except thru options |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #293 Posted: Mon Nov 11, 2013 3:05 pm Post subject: |
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| sold century at 282 and rinfra [half qnty] at 444...target 275-277 and 435-438 |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #294 Posted: Mon Nov 11, 2013 3:22 pm Post subject: |
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squared off with some trading profit.........now no positions...since some support levels....but market can slide 50 points or so more...6th day red?...3 more can go
traded twice both today......short side profit... |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #295 Posted: Mon Nov 11, 2013 3:27 pm Post subject: |
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| important point is guessing bottonm no good....lets trade the intra-day trend and make lesser but surer profits....once we learn we have manage the quantities.....for me...5975-6010 level can be touched..before a relief rally [for few points] |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #296 Posted: Tue Nov 12, 2013 9:59 am Post subject: |
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| Sold tata steel at 360...target 354 / 351 / 348......stop 366 futures |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #297 Posted: Tue Nov 12, 2013 12:14 pm Post subject: |
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 tata steel booked at 355.5
bought rcom at 134
biught nf at 6126 |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #298 Posted: Tue Nov 12, 2013 12:49 pm Post subject: |
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| closed all..... |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #299 Posted: Tue Nov 12, 2013 3:45 pm Post subject: |
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this is reading the line squared all long in 45 mins.....
now shall "buy" tomorrow or friday....5987 was mentioned yesterday by me in one thread......
loss saved in profit earned....was away ...could not watch the slide..... |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #300 Posted: Wed Nov 13, 2013 9:03 am Post subject: |
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| futures premium shall reduce by 30 or more points so buying nf risky |
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