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Spike and Channel |
amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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Post: #76  Posted: Wed Oct 23, 2013 3:53 pm Post subject: |
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posted possible Cipla trade yesterday at supports....it rose abive targets today....important thing is it formed Spike and Channel [amidst down day and pattern succeeded again] - posting chart [2 points still to go]
this also reiterates the success of the pattern in a "reversal trade" [as posted earlier explaining the method] |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #77 Posted: Thu Oct 24, 2013 9:49 am Post subject: |
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bought ITC at 348.5....buy buy buy....good + "spike and channel candidate" today [ in formation]..........
349-343=6+347=353 minimum... |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #78 Posted: Thu Oct 24, 2013 11:19 am Post subject: |
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| continuing with ITC trade...50% not retraced i.e. 345 Spot......reversal pattern both in Nifty and ITC hence a good play...current 347 Futures...target 353.5..stop 344 futures......risk reward 2:1 now.... |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #79 Posted: Thu Oct 24, 2013 1:46 pm Post subject: |
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| Sl hit....for jumping the gun before the pattern formation....still would call it (12/14) |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #80 Posted: Wed Oct 30, 2013 11:06 am Post subject: |
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| Spike and channel - ranbaxy bought Nov at 388..stop 369 very conservative...min 399 pattern target is 390-370=20+383=403....it should be above 380 for pattern validity got in some minutes early |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #81 Posted: Wed Oct 30, 2013 1:13 pm Post subject: |
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ranbaxy - actual trades dones today [Nov series]
[bought futures 388 4 lots 2000 qnty]
+Bought Put 340 @7 - 4 lots
+bought call 440 @8 - 2 lots
[effective future cost = 400]
[max risk = 50*4 lots]
see chart for intra day pattern today...likely upside breakput still to come |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #82 Posted: Wed Oct 30, 2013 1:57 pm Post subject: |
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| breakout has come....conversative intra day "future only" players can trail SL to cost....now 396 from 388...likely 407 |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #83 Posted: Wed Oct 30, 2013 1:58 pm Post subject: |
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| just a point..i am repeatedly seeing breakouts around 2.pm for this pattern and hence that was the timing of the line drawn just one hour back..now perfect |
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rrk2006hyd
Yellow Belt
Joined: 13 Oct 2010
Posts: 874
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| Post: #84 Posted: Wed Oct 30, 2013 2:01 pm Post subject: |
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| amitagg wrote: | | just a point..i am repeatedly seeing breakouts around 2.pm for this pattern and hence that was the timing of the line drawn just one hour back..now perfect |
gud one.. |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #85 Posted: Wed Oct 30, 2013 2:03 pm Post subject: |
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RRK since u do options - i actually followed by pattern with WELGRO option strategy..... but i have used out of money options since ranbaxy is very volatile
in my post below max loss is shown as 50*4 lots = actually if we keep SL for futures also around 370 [ i have done that], this reduces more than 40%....to 20+10=30* 4 lots |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #86 Posted: Wed Oct 30, 2013 4:19 pm Post subject: |
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[smilie=2guns.gif]hit again of the pattern....13 succusses out of 15
402 touched today ranbaxy ]as expected 403 was posted as initial target in morning]...did not square off as i way away otherwise would have booked 50% at 400 levels.... |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #87 Posted: Thu Oct 31, 2013 9:26 am Post subject: |
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| sold all futures ranbaxy at 401......Rs 13 profit in one day....OR now 2lots of 440 call and 4 lots of 340 put are at ZERO cost....shall look to sqaure off puts intra day today.... or add future once again at 390 levels |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #88 Posted: Thu Oct 31, 2013 10:41 am Post subject: |
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| took position in DLF spike and channel...purely intra day...stop 148.5 conservative....current 150.75....target 153.5 - 155 |
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amitagg
Black Belt
Joined: 01 Oct 2013
Posts: 4559
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| Post: #89 Posted: Thu Oct 31, 2013 2:54 pm Post subject: |
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| stopped by .25 points [13/16]...shall refine the SL rules |
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phardik92
White Belt
Joined: 04 Jan 2013
Posts: 3
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| Post: #90 Posted: Sun Nov 03, 2013 2:13 am Post subject: Hdfc ltd |
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Hi, wish happy Diwali & prosperous new year
Can u give your views on Hdfc Ltd.
Thanks. |
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