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SP Nifty Positional Trades (+500 points per month) |
shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
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Post: #16  Posted: Tue Jul 31, 2012 3:09 pm Post subject: |
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above 5236 close will be a boost from 5254 there will be second leg run up up to 5345 and 5378.
Let us hope for that. |
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rakpeds
White Belt
Joined: 24 Jun 2012
Posts: 481
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| Post: #17 Posted: Tue Jul 31, 2012 4:16 pm Post subject: |
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| shankaar10 wrote: | above 5236 close will be a boost from 5254 there will be second leg run up up to 5345 and 5378.
Let us hope for that. |
sp sir... can u provide the entry with SL and booking point.... sorry if i missed in beginning |
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shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
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| Post: #18 Posted: Wed Aug 01, 2012 9:40 am Post subject: |
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good mornng to all,
please note that this is not a level based strategy thus no prior exit or entry before signal such following gives solid discipline otherwise will end up too many trades little or no profit thus do not pay attention to to numbers. one thing for sure with this approach we will able to make +500 points in a month thus no need to worry and think about exit and entry.
if you believe in strength and resistance than use gann or i chart levels.
i am strictly following only strategy thus no prior entry or exit.
happy trading.
shankarr parray |
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GHAISAS
White Belt
Joined: 01 Feb 2010
Posts: 349
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| Post: #19 Posted: Wed Aug 01, 2012 9:44 am Post subject: |
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Shankar, good morning, thanks for your input,
kindly proceed, thanks,
ghaisas |
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rakpeds
White Belt
Joined: 24 Jun 2012
Posts: 481
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| Post: #20 Posted: Wed Aug 01, 2012 10:28 am Post subject: |
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| shankaar10 wrote: | good mornng to all,
please note that this is not a level based strategy thus no prior exit or entry before signal such following gives solid discipline otherwise will end up too many trades little or no profit thus do not pay attention to to numbers. one thing for sure with this approach we will able to make +500 points in a month thus no need to worry and think about exit and entry.
if you believe in strength and resistance than use gann or i chart levels.
i am strictly following only strategy thus no prior entry or exit.
happy trading.
shankarr parray |
yes sp sir true..... but the query arisis due to following reasons..
- we went short at 5196
and then it dipped some 40 poiints..
- then we went long at 5196...
So my query is we didnt book at the dip right and we continue holding the same till 5196... and then reverses the trade when the buy signal came.
Awaiting yr response sir |
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shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
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| Post: #21 Posted: Wed Aug 01, 2012 11:00 am Post subject: |
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RAK, As already mentioned if you are in positional swing you should follow only strategy otherwise you can divide cetrain % in to positional and day trading and use the level mentioned to get in get out.
one more tool for day trades can use:
if you are in to day trading use 44 formula ie divide nifty spot say todays high 5239/44 = 119 that was the resistance wise versa below -44 will be support level.
wish you good luck, hope you will benefit this way.
Brgds, |
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rakpeds
White Belt
Joined: 24 Jun 2012
Posts: 481
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| Post: #22 Posted: Wed Aug 01, 2012 11:06 am Post subject: |
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| shankaar10 wrote: | RAK, As already mentioned if you are in positional swing you should follow only strategy otherwise you can divide cetrain % in to positional and day trading and use the level mentioned to get in get out.
one more tool for day trades can use:
if you are in to day trading use 44 formula ie divide nifty spot say todays high 5239/44 = 119 that was the resistance wise versa below -44 will be support level.
wish you good luck, hope you will benefit this way.
Brgds, |
yes sir i already divided the 20% amount to positional so the swing is correct as mentioned by you...
short at 5196 then hold till the next signal and now we are long from 5196..
am i correct sir ?  |
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shahrachit
White Belt
Joined: 12 Jul 2012
Posts: 117
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| Post: #23 Posted: Wed Aug 01, 2012 11:15 am Post subject: |
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| shankaar10 wrote: | RAK, As already mentioned if you are in positional swing you should follow only strategy otherwise you can divide cetrain % in to positional and day trading and use the level mentioned to get in get out.
one more tool for day trades can use:
if you are in to day trading use 44 formula ie divide nifty spot say todays high 5239/44 = 119 that was the resistance wise versa below -44 will be support level.
wish you good luck, hope you will benefit this way.
Brgds, |
I am a slow learner; can you please confirm my understanding:
119 x 44 = 5236 (Present Resistance)
118 x 44 = 5192 (Present Support)
Once Nifty spot breaks 5236; its next resistance shall be (120 x 44 = 5280) and support shall be 5236.
Once Nifty sport breaks 5192; its next support shall be (117 x 44 = 5148) and resistance 5192.
Please confirm. |
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smartcancerian
Yellow Belt
Joined: 07 Apr 2010
Posts: 542
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| Post: #24 Posted: Wed Aug 01, 2012 11:16 am Post subject: |
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| shankaar10 wrote: | RAK, As already mentioned if you are in positional swing you should follow only strategy otherwise you can divide cetrain % in to positional and day trading and use the level mentioned to get in get out.
one more tool for day trades can use:
if you are in to day trading use 44 formula ie divide nifty spot say todays high 5239/44 = 119 that was the resistance wise versa below -44 will be support level.
wish you good luck, hope you will benefit this way.
Brgds, |
Can you elaborate more 44..??? after dividing we get 119..then next what?? from which figure we are to add or subtract 119 to get lvls.. |
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shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
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| Post: #25 Posted: Wed Aug 01, 2012 11:48 am Post subject: |
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smart, just divide nifty spot by 44 you will get sum that will be the support and resistance -5 or -5 points up and down.
yesterday low was 5154?
if you use formula support was at 5148 =117 market bounced from that level
similarly resistance was at 5236.
play with this using charts you will get the grip of it.
wish you good luck.
shankarr parray |
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shahrachit
White Belt
Joined: 12 Jul 2012
Posts: 117
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| Post: #26 Posted: Wed Aug 01, 2012 11:58 am Post subject: |
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| shankaar10 wrote: | smart, just divide nifty spot by 44 you will get sum that will be the support and resistance -5 or -5 points up and down.
yesterday low was 5154?
if you use formula support was at 5148 =117 market bounced from that level
similarly resistance was at 5236.
play with this using charts you will get the grip of it.
wish you good luck.
shankarr parray |
I am a slow learner; can you please correct my understanding:
119 x 44 = 5236 (Present Resistance)
118 x 44 = 5192 (Present Support)
Once Nifty spot breaks 5236; its next resistance shall be (120 x 44 = 5280) and support shall be 5236.
Once Nifty sport breaks 5192; its next support shall be (117 x 44 = 5148) and resistance 5192.
Please correct. |
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STEPUP
White Belt
Joined: 17 Mar 2012
Posts: 95
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| Post: #27 Posted: Wed Aug 01, 2012 12:26 pm Post subject: |
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| shankaar10 wrote: | smart, just divide nifty spot by 44 you will get sum that will be the support and resistance -5 or -5 points up and down.
yesterday low was 5154?
if you use formula support was at 5148 =117 market bounced from that level
similarly resistance was at 5236.
play with this using charts you will get the grip of it.
wish you good luck.
shankarr parray |
How i am supposed to position myself when the Nifty Spot opens ABOVE or BELOW that number & even in the case of GAP UP or GAP DOWN. |
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shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
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| Post: #28 Posted: Wed Aug 01, 2012 12:29 pm Post subject: |
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sAHAR, your understanding is perfect. it is quite simplest way to use in day trading and you will see good success.
Brgds,
| shahrachit wrote: | | shankaar10 wrote: | smart, just divide nifty spot by 44 you will get sum that will be the support and resistance -5 or -5 points up and down.
yesterday low was 5154?
if you use formula support was at 5148 =117 market bounced from that level
similarly resistance was at 5236.
play with this using charts you will get the grip of it.
wish you good luck.
shankarr parray |
I am a slow learner; can you please correct my understanding:
119 x 44 = 5236 (Present Resistance)
118 x 44 = 5192 (Present Support)
Once Nifty spot breaks 5236; its next resistance shall be (120 x 44 = 5280) and support shall be 5236.
Once Nifty sport breaks 5192; its next support shall be (117 x 44 = 5148) and resistance 5192.
Please correct. |
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rakpeds
White Belt
Joined: 24 Jun 2012
Posts: 481
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| Post: #29 Posted: Wed Aug 01, 2012 12:32 pm Post subject: |
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thanks sp sir for this simple strategy for day trding...
please reply to my query
"
yes sir i already divided the 20% amount to positional so the swing is correct as mentioned by you...
short at 5196 then hold till the next signal and now we are long from 5196..
am i correct sir ? " |
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shankaar10
Black Belt
Joined: 01 Apr 2012
Posts: 2739
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| Post: #30 Posted: Wed Aug 01, 2012 12:42 pm Post subject: |
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RAK,
you are bang on with strategy, good going.
STEP;
look for trend, if u are middle of the trend then go with the trend up to next level and wait for green or red candle below or above that level. be careful with rejection candles. wait for minimum full 5 point candle to prove that trend is in the direction of support and resistance level.
wish you good luck.
shankarr parray |
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