iCharts Discussions

[amitagg]

one comment...brooks also says an action like this is followed for the next 2-3 days...[next target 333 for those holding on...SL 310 only]

ITC is a "dark horse" as commented yesterday in Nifty Sep forum...since rel and itc would support nifty move up ....besides it..sideways to up.

as mentioned by Gautam in another thread "sharp down spikes are also possible as these levels".

[amitagg]

sold NF at 5558....this is NOT a 90% probability trade as i mentioned in my thread below, but lets see.

[amitagg]

booked profit [50%] in Hindalco call spread...exited nifty at near cost.

[amitagg]

DLF BOUGHT AT 137.5 nf....TARGET 144...break of head and shoulder on past 5 days chart...alrady had 3 pushes down since start of downtrend

[amitagg]

Nifty reversed "exactly" at my 5620 level posted in Index Futures thread last night....make some profit [5628-5590 again early exit!!!]. and puts at 5620 also.

also bought Tata Motors put 300@8.

[amitagg]

i punt : taken in morning 5400 PUT@79 + 5800 CALL @ 57 [equal] ..lets see..

[amitagg]

Markets above 5620 [gap up opening] would raise it to 5780 in very short period - 3-4 days and may be 5850 etc. and then fall to 5550-5600......similar pattern being repeated as in 2011 [which month?] may be

"be cautious of out of the money puts i would say to all............"...all below 5500- 5400 may expire worthless.!!!!!! [ the makets may fall next month NOT This] - NOTE ..lets see

[amitagg]

looking to exit at cost option trade...tata motors sqaured at 9.5 [1.5 nominal profit...better to trade in futures]

[amitagg]

SHORTING PLAN NIFTY ATTACHED

[amitagg]

Amongst the confusion amongst all of the legs the rally and whether bull trend has started, lets keep to the basics....markets below prior swing high and 2-3 closes above 200DMA [2 consecutive closes above that]etc, ie above 5850 should be considered bull, otherwise we "should" SELL at these levels with stop at 5900 [assuming the rise to 5900 is not a one way traffic otherwise i would suggest short at that level too!!!!]

so we are selling tomorrow at 5775-5825 regions without hesitation!!!!

multiple resistance at 5780-5850 CANNOT be in hurry or iimmediate gap ups....trades at 5800 regions risk reward HIGHLY favourable.....

if we though that bear market rallys can stretch to 5550-5750 in beginning itself, no reason to think otherwise JUST BECAUSE WE ARE NEAR THAT LEVEL NOW

HAPPY SHORTING

[amitagg]

shorted 30% at 5800 average of 60% at 5740...sell 10% each at 5825 and 5845

[amitagg]

sold 20%+10% at 5860..today's 70%+10% average = 5830
total average 1100 qty = 5790 great!!!!

[amitagg]

sold 5800 call 2 lots at =155 ....loss above 5950

[pkholla]

Amit: Plan achcha hai! But what if NF aisa hai ki maanta hi nahi? What if NF is Bombay Marine Drive tonga ghoda with eye only on 6000+? What about new RBI Chief ka "Bull"-dozer effect?
I believe you r also reading Al Brooks. Why not wait, in this strong trend, before going short?
Prakash Holla

[amitagg]

was away in meeting

pls see below:

- markets dont reverse in one hour
- u CANNOT stop shorting a vertical rise when its NEAR YOUR TARGET AREA
- prices do not fall immediately [they take a day or two] here it will take 6-7 days
- this is 90% winning thread u know...i hope i am right
- i have defined shorting target...i will not get emotional and hold on my shorts seeing the exasperation of others
- al brooks : right need to follow ...but discipline lacking [anyways countertrend trades should not be taken he says in such rises>>>>BUT but see practically that how many could take LONGS and see the reversal at 5550.....gap up openings also did not allow LONGS

- i have been here for 10 years and i thing directional trade [long or short in important] and u need to have resources to execute your plan

- it is very temping with multiple resistances and thats wat one comment in Sherbaaz thread only mentioned...short near important targets and reverse at small loss....

- markets currently my short price for today....

- i JUST WANT TO KNOW TOMORROW....that i should not book profits....that is when price action is telling a stop in trend, i should be not booking profits.....THAT is what i am unsure off since often i book small profits and not wait longer....[pls guide me with this when hopefully markets turns

- i am not having any nerves for sure...just because based on technicals there has to a PAUSE here