iCharts Discussions

[amitagg]

squared most at 5230 - averaged buy at 5200. rest Sl at cost
[again often i have day traders mindset and unable to wait...may be very doubtful of market conditions] - further opportunities will come

[amitagg]

squared balance at 5458...hindalco looking good...bought 100 PE at 8 and bought Sep Future at 100...shall add and update strategy after few days

[amitagg]

bought at 100-110 call spread of Hindalco @ 4.4. [About 106 close though is buy for confirmed uptrend.]

[amitagg]

exited hindalco at 106.5 Futures Sep [ Profit = 6] against Put cost of 7 ..

[so put net cost of 1 remaining....also bull call spread remains]

[amitagg]

exited Hindalco put at at 4.25 [the Long Future+ Long Put = NET Profit 2.5 per lot]....call spread pending. if closes above 106 spot...shall buy more tomorrow.

[amitagg]

HINDALCO IS A BUY AFTER MANY YEARS.....SEE 3 YR CHART...RISING RSI, RISING MACD, + DIVERGENCES, ABOVE 200 EMA, 106 ABOVE CLOSING TWICE WOULD MEAN IT WOULD TOUCH 112, RETRACT TO 105-106 AAND THEN 120 ABOVE AND BEYOND.............someone said, above 200 days after many years is right time to buy a otherwise falling stock....

for investment it is great.....

[amitagg]

Nifty shall make a brief high today i.e. 5475 or sligh above and then fall today or monday to 5400-5425 abouts.....it is finding difficult to take last steps...just for intra day




HINDALCO....great buy as predicted couple of days before at 100 levels..just wait for one more close above 106 [or buy in intra-day chart trending or sideways and Nifty above 5400].

both intra-day, short term and investment...

i) good daily candle [2 white candles]
ii) breakout on swing high on higher volume
iii) 5 wave [starting 96] or (iii) of 3 wave in progress [1 starting at 83] - target 112, then 119 [since i)=ii) , iii) can be 1.619*15+96=119]
iv) bulwosky said : when 200 day breach BUY for long bear stocks [hindalco above 200 day]
v) 30 crossing 50ema
vi) possible double bottom [see 9 month chart] completing at 112, if breaks 112, then target 133 for the pattern
vii) + metals positive with chinese good data
viii) hindalco absorbed all selling pressure at 102-110 region over the past 3 years
ix) on 3-5 year chart, falling wedge and prices going above falling wedge
x) if prices remain at these levels or rise slightly, 50 day near 100 shall cross 105 200 day, golden cross possible
xi) no WW since 3 above 1 and 5 below 1 though
xii_ + rsi macd divergence , MAcd above 0 recently

better SL 96.

[amitagg]

Bought SF [Sep] of Bank of India at 138, Orient Bank at 126, Hindalco at 102.75

punt - Adani ent at 143.3...stop 138.5

[amitagg]

sold adani at 146.4, hindalco at 104.75

[amitagg]

exited bank stocks at cost

[amitagg]

I am a futures player for long and starting 'stock options' recently.....

Mr Kholla / others - as mentioned below i bought call spread [100-110] price was 7 [call) 3 (put) apprx on Hindalco [along with futures) when futures price was 100......i squared futures at 5-6 rs profit but saw that options even when price rose to 107-108 futures was 11 (call), 4.5-5.5 (put)

i.e. net was only slightly better.....point is would I have to wait till expiry and expect it to close above 100 -110 or how to close positions before expiry when i see futures price actually moving up....

Note: for next week, i expect hindalco to may be fall to 100-101 [trendline support] and then rise over the next few weeks to 112 and above.....

any comments

also i am very positive on the stock....how to i hedge if i take a futures postion around 100-103 levels [besides a simple 100 or 95 put?]

[amitagg]

ITC given a spike and channel breakout at 310 today....and with SL at 310 can Long till 322 as first target....[i went long late at 313 and have posted 50% at 316.5]..so that overall trade cannever be at loss.

[amitagg]

Al brooks is really good...i suggest all read it.....the action on ITC today was based on the various comments in book...and like a "trending buy" it is rising 1 tick at the time consistently today....have placed sell ordes though at 319 and 321.5 for balance long positions. [stop trailed to 314]

[amitagg]

see....sometimes stocks shout at you...319 target reached...SL trailed 316.5...balance target 322..

[amitagg]

321 near..closed all. Thanks Al Brooks.