| View previous topic :: View next topic |
| Author |
READING THE LINE [DAY TRADERS MIND] - FUTURES ONLY |
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
Post: #361  Posted: Wed Nov 27, 2013 1:14 pm Post subject: |
 |
|
| watch my post below but i have feeling that 6000 shall be hit
|
|
| Back to top |
|
 |
|
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #362 Posted: Wed Nov 27, 2013 1:16 pm Post subject: |
|
|
| reading the line - martkets which cant stand intra day falls off later....lets see....[ profit /loss depends upon trading strategy though]
|
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #363 Posted: Wed Nov 27, 2013 1:17 pm Post subject: |
|
|
| amitagg wrote: | | market can break low and immediately rise rapidly...if break 6060 spot on up....its very up for intra day....otherwise it shall touch 6005-5970 rapidly |
as expected lowbroekn, let see next action
|
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #364 Posted: Wed Nov 27, 2013 2:59 pm Post subject: |
|
|
| just following what was written below, SAR taken...r infra at 409
|
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #365 Posted: Wed Nov 27, 2013 3:20 pm Post subject: |
|
|
| reentered short 364...rcap..stop 370...target 353
|
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #366 Posted: Thu Nov 28, 2013 12:26 am Post subject: |
|
|
watching ITC closely [current 314]....safer bet ..if it trades above 317 in morning tomorrow...shall buy definitely
reasons:
- on 2 year time frame daily chart - multiple support at 303-310
- shaved bottom in last 3 out of 4 candlesticks [with bottom around 310] - at bottom of reaction, this is significant
- 310 is major support level holding
- C minor wave of first reaction from top...to unfold above 317....likely test of 325-328 region
some news of price hikes?
otherwise negative H&S formation with price at supports...
|
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #367 Posted: Thu Nov 28, 2013 10:59 am Post subject: |
|
|
R infra...long [positional] at 410.....stop 380...target 440+
ITC trading below 316.5 so trade not taken....
changing strategy for next year...shall look to hold rather than short trades....since markets likely bullish going forward.... [in terms of "monthly gains" i.e no of months winners vs no of months losing]
shall keep track of hindalco, jspl, hdil, ranbaxy, dlf, bhel, tata steel, reliance, axis, rcap and rinfra etc. for long trades
currently lower highs and higher lows forming...lets see whether we can break 6125 to form higher highs?
|
|
| Back to top |
|
|
reachchirag
White Belt
Joined: 28 Nov 2012
Posts: 102
|
| Post: #368 Posted: Thu Nov 28, 2013 11:06 am Post subject: |
|
|
| amitagg wrote: | R infra...long [positional] at 410.....stop 380...target 440+
ITC trading below 316.5 so trade not taken....
changing strategy for next year...shall look to hold rather than short trades....since markets likely bullish going forward.... [in terms of "monthly gains" i.e no of months winners vs no of months losing]
shall keep track of hindalco, jspl, hdil, ranbaxy, dlf, bhel, tata steel, reliance, axis, rcap and rinfra etc. for long trades
currently lower highs and higher lows forming...lets see whether we can break 6125 to form higher highs? |
Yes you are right. The markets do look bullish heading into the next series. But I have a funny feeling this could be a smoke-screen, trying to lure retail participants into buying rather than sitting on the sidelines. Let us see... Personally, I feel markets may well start a leg of downturn towards 5800-5850 before turning around and moving towards a new all time high. And I feel all of this may happen in the December Series.
|
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #369 Posted: Thu Nov 28, 2013 11:25 am Post subject: |
|
|
thanks....i was of the same view as well...but have thought that let not get out of positions ...and in fact to add on dips.........and roll over monthly some core positions....
also for balance do intra day and niftying.....
just to look to have more "positional longs"......out of trading capital
shall add OTM calls if market dips to 5800-5900....since i too expect swift recovery
|
|
| Back to top |
|
|
reachchirag
White Belt
Joined: 28 Nov 2012
Posts: 102
|
| Post: #370 Posted: Thu Nov 28, 2013 11:35 am Post subject: |
|
|
| amitagg wrote: | thanks....i was of the same view as well...but have thought that let not get out of positions ...and in fact to add on dips.........and roll over monthly some core positions....
also for balance do intra day and niftying.....
just to look to have more "positional longs"......out of trading capital
shall add OTM calls if market dips to 5800-5900....since i too expect swift recovery |
I understand your point of view... as long as market looks bullish, always better to have your money IN the market rather than waiting on the sidelines for a fall. That is where most retail participants lose their opportunities - by WAITING.
I expect the market to keep whipsawing for the next 2 weeks, like it has all of this week, and I personally expect the whipsaws to get more aggressive during downfalls.
One good strategy would be to short Nifty Futures December Contract and continue holding Stocks long. That way, any big opposing move would be cushioned.
|
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #371 Posted: Thu Nov 28, 2013 12:29 pm Post subject: |
|
|
understood....attaching Rinfra chart also [since u asked some days back...]
i am long now...it has just spiked.....showing very god support at 403-410
see chart - triple bottom support at 410....likely to test 440 shortly and over term 550....
immediate resistance only at 428...it shall break 417 i guess
| Description: |
|
| Filesize: |
43.18 KB |
| Viewed: |
230 Time(s) |
|
|
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #372 Posted: Thu Nov 28, 2013 12:32 pm Post subject: |
|
|
ditto R Cap...very good buy now... breaking above 371 then 383....
rinfra 50% retrace from 457 at 429 and 435 is 61.8%...also 435-436 very likely
|
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #373 Posted: Thu Nov 28, 2013 2:04 pm Post subject: |
|
|
Have taken purchased dec 6100 call =165 & 6100 put = 105 = total @ 275
[expecting volatile movements both ways + since sideways continuing for many days]
Shall exit one leg when one doubles or gives 70-80% return
|
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #374 Posted: Thu Nov 28, 2013 2:07 pm Post subject: |
|
|
vix is also rising...expect greater volatility and hence increase in premiums...
as expected book out at rs 25-30 profit.....increase from 270 t0 300
now looking to sell 6200 call put...at above 300....range 6500-5900 for series
Last edited by amitagg on Fri Nov 29, 2013 10:53 am; edited 1 time in total |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #375 Posted: Thu Nov 28, 2013 2:08 pm Post subject: |
|
|
| sold Arvind @ 129.5.....
|
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
