iCharts Discussions

[SAKLECHA]

HAI MANJU

THANKS FOR YOUR IMMEDIATE RESPONSE...........I WILL TAKE NOTE OF YOUR ADVICE...........

[as4manju]

They say that u should be extremly lucky to exit at tops or buy at bottoms.. here is on such call infosys when i posted the stock was trading at 3490 now 3300..

Now thats what i call staying ahead

Cheeers all

[ali522003]

[as4manju]

Dear Ali,

Most of the calls i ve given has worked with the execption of few which has worked partially.. Just try to have a bigger time horizon in ur trades.. Day trading is one of the most difficult thing to do in life and mkt is all about zero sum game one day u gain other day u loose.. from my 6 years exp in mkt i m telling u "One can not beat the mkt all the time the only way it can be done is when it gives us an opportunity"..

There is no holy grail to make money in mkt even i ve made horrible mistakes... the possible solution is follow this principle ull sure be a good trader
1.seprate ur emotions from trade(greed as well as fear)
2.Money mangement and capital protection the top priority.
3.Ruthless execution of SL
4.Always keep it simple develop ur methods and observation
5.Dont be smart cause smart people dont make money from mkt as they tend to over analyse...

Regards
Manju

[quote="ali522003"]

[ali522003]

[quote="as4manju"]Dear Ali,

Most of the calls i ve given has worked with the execption of few which has worked partially.. Just try to have a bigger time horizon in ur trades.. Day trading is one of the most difficult thing to do in life and mkt is all about zero sum game one day u gain other day u loose.. from my 6 years exp in mkt i m telling u "One can not beat the mkt all the time the only way it can be done is when it gives us an opportunity"..

There is no holy grail to make money in mkt even i ve made horrible mistakes... the possible solution is follow this principle ull sure be a good trader
1.seprate ur emotions from trade(greed as well as fear)
2.Money mangement and capital protection the top priority.
3.Ruthless execution of SL
4.Always keep it simple develop ur methods and observation
5.Dont be smart cause smart people dont make money from mkt as they tend to over analyse...

Regards
Manju

[chetan83]

Hi Manju ji,

Today we have seen lot of buying at market closing within 30 mins. What is ur view on Banking index and heavy weights as SBI & ICICI. Also Bank Nifty which has broken major support is again trying to touch 11000. Is it the right time to buy banking shares again.

[as4manju]

Hi,

Well i dont say there was lot of buying in the mkt i read it more as a short covering rally if u see the FnO data most of the banking stocks have lost open interest with a price rise which means its not the buying which happnened.. it depends on what is time horizon for buying if ur investor sure u can park 20-30% of ur money now but if ur trader would suggest avoid buying for some more as still the trend in banking is down would prefer to buy higher when the trend is up than buying lower when ur not sure of the future. i ll be be posting more on the banking index may be u can stratergise accordingly.

Regards
Manju

[as4manju]

Well i m not that much of nifty or index guy as such.. rarely i do look into index charts.. i feel more comfertable deciding the trend of the index based on the charts of the stock than looking at the index charts itself.. how ever this is one of those times i come up with my views..

Nifty - index is been trading in the range of 5700-6300 so closing basis 5700 is the level to watch out for.. if those levels are broken on a closing basis and starts trading consistently below thoses levels sever damage can happen in lot of stocks.. another obeservation is that RSI trendline support is very close and most of the times recently mkts ve reversed from this support will it happen this time lets wait for some time to see..

Bank Nifty - Still lower tops and lower bottoms formation medium term short term tred stil down can fall upto 10300-9990 levels in worst case senerio..

Tata motors - after breaking 1250 now stock is again at another important support zone of 1140-1150 levels break and close below the level can take the stock to 1090-1060 levels and my worst case senrio for the stock is the re test of 950 levels...

[SAKLECHA]

HAI MANJU,

YOUR OBSERVATION ON NIFTY WAS REALLY GREAT............AS OF NOW NIFTY HAS REVERSED FROM ITS DOWNTREND...................SAIL IS @ 178 CAN WE AGAIN TAKE SHORT POSITION IN THIS COUNTER

THANKS

NIRMAL SAKLECHA

[as4manju]

Thanks nirmal,

Wel thats the reason i asked to close all the short positions yesterday and wait for fresh trades still its quite early to intiate a short trade there nothing as of now showing weakness.. will see the data to EOD to decide what has to be done as of now ONGC is only the weak link...

Regards
Manju

[mrvishal_g]

Hi Manjuji,
Thanks to posting your postional calls.
As per me ONGC is now looking good on EOD chart and can start moving up from tom. and can go upto 1240-1250. What is your call on it
Vishal

[chetan83]

[chetan83]

[quote="chetan83"][quote="as4manju"]Hi,

Well i dont say there was lot of buying in the mkt i read it more as a short covering rally if u see the FnO data most of the banking stocks have lost open interest with a price rise which means its not the buying which happnened.. it depends on what is time horizon for buying if ur investor sure u can park 20-30% of ur money now but if ur trader would suggest avoid buying for some more as still the trend in banking is down would prefer to buy higher when the trend is up than buying lower when ur not sure of the future. i ll be be posting more on the banking index may be u can stratergise accordingly.

Regards
Manju

Manju Ji,
Thanks a lot for your kind advice, As u have noted that almost all the banking shares were UP, even BnF traded abv 11450, still in the last 15 mins of trade there was a -ive divergence, can we expect a sell off for 100 odd points in BnF? What if BnF moves up after 11210 levels, can we target 11450 at least. Do throw some light.

[as4manju]

Hi,

If the bank index(spot) sustains above 11150 can do 11270-11380-11490 also.. But say there is trend change in the index it self means it has to break the 12k mark but my strong feel is that it might go into consolidation mode for some time before actually shifting gares..

Regards
Manju

[quote="chetan83"][quote="chetan83"]

[as4manju]

Hi,

For Ongc Only if it can take out 1215 levels i would say that u can think of buying but i strongly feel that there is still a lot of anouncements to come in the stock as of now the picture looks bleak for the counter and i would avoid any postions in the stock..

Regards
manju