| 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: #706  Posted: Sat Mar 22, 2014 8:45 pm Post subject: |
 |
|
| vinay28 wrote: | | rk_a2003 wrote: | | True, Amit.I am sensing some correction in the market.That's another reason for taking up this trade.I shorted April series. |
I am not sure that's a correct decision |
Rk / Vinay
I often consider Vinay's comments in my trades in terms of "adjustment" to targets and stop losses....
Also continuing from Rita's thread i would like to mention as under:
"Thanks...u can see that 1st wave retraced 70-80% and then the 3rd was extended till 6563 / 6575.........4th as per principle of alternation is sideways.....and hence a v wave above 6575 can unfold.....there is no way but a "gap" [or two] that shall decide the break.....thanks for ur views.
and all should note that u have rightly mentioned in beginning 3(iii)....which means 5110 to 6142 was first wave, 2ndf was 6142 to 5700 and "major" 3rd is unfolding........since 3th is supposed to be largest, we have seen a great move from 5933 to now in 3(iii)(iii).....
shorts have to be skeptical irrespective of any move down to 6350/6415...but many may like to play for this move down at least until spot is above 6550.....
also note that "higher high " formation is intact and "higher low" is intact with Nifty breahing 6563 to 6375 [6603NF] above and low of 6433 holding..."
| ritapandit25 wrote: | EW count:
3(iii)3(i,ii, iii, iv, v):
5933 - 6107 = i
6107 - 5985 = ii
5985-6563=iii
6563-6433=iv
6433-6575=v(it can extend if NS surpas 6575 then 6620 upto or 6700.)
Weekly Range:6710-6360.
Nifty Spot Level for 24/03/2014:
Buy above 6508 SL 6480
Sell below 6480SL 6520.
Break down below 6480 target 6458-6430-6405.
Break out above 6522 target 6540-6555-6575-6600-6620-6680. |
|
|
| Back to top |
|
 |
|
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #707 Posted: Sun Mar 23, 2014 5:45 pm Post subject: |
|
|
There are 2 reasons purely from EW standpoint why 3(iii)(iii) - "further (iii)" is only complete at 6563 (6575) and iv is continuing currently with v of such 3(iii)(iii) to unfold at 6650/20(mimn)spot
- the reaction from 6463 can be considered to be a "double corrective"...first complete at 6433 (in abc zigzag pattern) and then rise to 6575 (top of iii-6563) from where the second corrective (continuing from 6575) in falling wedge...triangle..
- since v has to be say equal to I, since iii was extended, it has to be 6107-5933+end of this corrective/6433...
Rita if reading this pls comment....
Also "v" is not complete at6575 since it is 140 points and I was 175 points so likely v to be completed higher.... |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #708 Posted: Mon Mar 24, 2014 9:38 am Post subject: |
|
|
| amitagg wrote: | There are 2 reasons purely from EW standpoint why 3(iii)(iii) - "further (iii)" is only complete at 6563 (6575) and iv is continuing currently with v of such 3(iii)(iii) to unfold at 6650/20(mimn)spot
- the reaction from 6463 can be considered to be a "double corrective"...first complete at 6433 (in abc zigzag pattern) and then rise to 6575 (top of iii-6563) from where the second corrective (continuing from 6575) in falling wedge...triangle..
- since v has to be say equal to I, since iii was extended, it has to be 6107-5933+end of this corrective/6433...
Rita if reading this pls comment....
Also "v" is not complete at6575 since it is 140 points and I was 175 points so likely v to be completed higher.... |
buy now.....still steam left.... |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #709 Posted: Mon Mar 24, 2014 9:46 am Post subject: |
|
|
| amitagg wrote: | | rk_a2003 wrote: | | amitagg wrote: | current chart attached.....H&S shall break it seems.....a sell then...also heavier volumes in right shoulder....
shorted at 1248 stop 1268.....
| amitagg wrote: | | amitagg wrote: | posting 3 charts of ACC [current price 1250 futures] action sell
- Long Term : resistance at 1285 + RSi divergence + bearish candlestick at top / multi month resistance
- 30D chart showing "breakout failure at 1265"....
- intra day chart showing late fall and inability to surpass 1265....
Sell ACC at any level for targets till 1232/1218/1200/ 1170....sell on each rise also....stop 1285/1290....
low volatility scrip completing one leg of uptrend [sharp] and now likely to retrace down.......otherwise since RSI is in new territory it shall eventually break the multi month resistance of 1285.....
safe short perhaps...though nothing is 'safe' |
|
|
I took up this trade Amit...Thanks |
i actually dont like such scrips [since they behave irrationally may be] for trading purposes in my trading style and may therefore exit on spike down to 1232 etc..without waiting for lower targets....since market also not confirming a breakdown?....and any reversal in market would push all scrips higher.... |
exited ACC.....bought Yes bank..... |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #710 Posted: Mon Mar 24, 2014 1:43 pm Post subject: |
|
|
| amitagg wrote: | | amitagg wrote: | There are 2 reasons purely from EW standpoint why 3(iii)(iii) - "further (iii)" is only complete at 6563 (6575) and iv is continuing currently with v of such 3(iii)(iii) to unfold at 6650/20(mimn)spot
- the reaction from 6463 can be considered to be a "double corrective"...first complete at 6433 (in abc zigzag pattern) and then rise to 6575 (top of iii-6563) from where the second corrective (continuing from 6575) in falling wedge...triangle..
- since v has to be say equal to I, since iii was extended, it has to be 6107-5933+end of this corrective/6433...
Rita if reading this pls comment....
Also "v" is not complete at6575 since it is 140 points and I was 175 points so likely v to be completed higher.... |
buy now.....still steam left.... |
still steam left....in stocks like yes bank...  |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #711 Posted: Tue Mar 25, 2014 3:12 pm Post subject: |
|
|
| amitagg wrote: | | is rcom breaking out of channel and a buy....see 2 charts....not sound fundamentally and some put enterprise value at 108 etc....though.. |
rcom chart a buy above 117....and also break of channel...since it is not a strong scrip, my feel RK is that is shall go up to 133+ to form a H&S...with rising market..... |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #712 Posted: Tue Mar 25, 2014 3:15 pm Post subject: |
|
|
| amitagg wrote: | For 19th March
Buy NF "again " above 6564....target 6610 [approx.] [SL=6535] [closer stop can be 6550]
[today's trade = 40 points]
Reasons: i) move above 6464 means fall back into channel
ii) tick average price above 6564
iii) invertes H&S to make [incomplete pattern]
iv) above EMAs
v) held Pivot 6518 today
vi) 6652 [minium] target of EW from 5933 = 6125-5933+6450 [approx.]
vii) mentioned yesterday...RSi not overbought
simply buy....only statistics matter...[make own analysis....not crowd view] |
this should now be 6625 Spot....[minimum] |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #713 Posted: Tue Mar 25, 2014 3:27 pm Post subject: |
|
|
| tomorrow both todays high and low shall be broken it seems..... |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #714 Posted: Thu Mar 27, 2014 1:55 am Post subject: |
|
|
6625 touched... to buy puts below 6635 NF April.
| amitagg wrote: | | amitagg wrote: | For 19th March
Buy NF "again " above 6564....target 6610 [approx.] [SL=6535] [closer stop can be 6550]
[today's trade = 40 points]
Reasons: i) move above 6464 means fall back into channel
ii) tick average price above 6564
iii) invertes H&S to make [incomplete pattern]
iv) above EMAs
v) held Pivot 6518 today
vi) 6652 [minium] target of EW from 5933 = 6125-5933+6450 [approx.]
vii) mentioned yesterday...RSi not overbought
simply buy....only statistics matter...[make own analysis....not crowd view] |
this should now be 6625 Spot....[minimum] |
|
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #715 Posted: Thu Mar 27, 2014 12:37 pm Post subject: |
|
|
| sold 6650 call @ 140......[6790]....shall be in profit expected over next 5-8 days.....not immediate |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #716 Posted: Fri Mar 28, 2014 9:38 am Post subject: |
|
|
| amitagg wrote: | | sold 6650 call @ 140......[6790]....shall be in profit expected over next 5-8 days.....not immediate |
squared at cost......bought Ibrealest heavy @ 51....stop 48
Last edited by amitagg on Fri Mar 28, 2014 10:33 am; edited 1 time in total |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #717 Posted: Fri Mar 28, 2014 10:32 am Post subject: |
|
|
| market seems intra sell today...... |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #718 Posted: Fri Mar 28, 2014 12:15 pm Post subject: |
|
|
| amitagg wrote: | | amitagg wrote: | | sold 6650 call @ 140......[6790]....shall be in profit expected over next 5-8 days.....not immediate |
squared at cost......bought Ibrealest heavy @ 51....stop 48 |
now 52.7......booked 50% at 52.5-52.7... ...tsl to cost
shall post charts later |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #719 Posted: Fri Mar 28, 2014 1:43 pm Post subject: |
|
|
i have been posting longs on Bharti since 295...now 315...to go to 328
Rcom 115....above 120...now 128...t go to 133
Yes bank since 370.....now 405....
Tata global - no move
now look at Idea cellular [very nice support is remains above 136-137.....and when break 141 zoom to 148
... and Rinfra still.... above 433...target 443/447 |
|
| Back to top |
|
|
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
|
| Post: #720 Posted: Fri Mar 28, 2014 1:49 pm Post subject: |
|
|
| amitagg wrote: | i have been posting longs on Bharti since 295...now 315...to go to 328
Rcom 115....above 120...now 128...t go to 133
Yes bank since 370.....now 405....
Tata global - no move
now look at Idea cellular [very nice support is remains above 136-137.....and when break 141 zoom to 148
... and Rinfra still.... above 433...target 443/447 |
and since tata global had no move....just 5 mins back moved from 143 to 147....and a good buy now to 153+  |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
