iCharts Discussions

[channasri]

Dear novice traders,

One more way of trend identification is here.

For next 2-3 sessions, observe 50D and 200D SMAs. Right now, 50D SMA is 8371 and 200D SMA 8357. It indicates more downside when it happens. However, it is normally seen that the index will be in oversold conditions by a death cross can occur. Hence, death crosses will reveal their effect sometime later. Current situation is similar to this phenomenon.

Most important: Let's follow price action only.

Please note ChannasriSAR for 11-6-2015:

Nifty : 8141 (This is Channasri SAR)
TSL for shorts: 8141 (This is trailing stop loss for overnight carried
positions)
SL for longs (if trend reverses): 8151 (This is to manage trades on those
days when trend reverses.
Otherwise, this No. is not required)
Nifty No. for positional longs (if trend reverses): 8151 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 8030 level is critical.

Bank Nifty: 17786
TSL for shorts: 17786
SL for longs (if trend reverses): 17800
Bank Nifty No. for positional longs (if trend reverses): 17800
Bank Nifty intraday: 17750 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

Nifty's last SAR trigger on 11-6-2015 @ 8141. Points earned till EOD of 11-6-2015 = 76.
Bank Nifty's last SAR trigger on 2-6-2015 @ 18509. Points earned till EOD of 11-6-2015 = 1,205.

At present, 50D SMA=8363, 200D SMA=8358 Let's see. I am expecting death cross by EOW.

Please note CSL SARs for 12-6-2015:

Nifty : 8107 (This is Channasri SAR)
TSL for shorts: 8075 (This is trailing stop loss for overnight carried
positions)
SL for longs (if trend reverses): 8120 (This is to manage trades on those
days when trend reverses. Otherwise, this No. is not required)
Nifty No. for positional longs (if trend reverses): 8120 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 7950 level is critical.

Bank Nifty: 17661
TSL for shorts: 17580
SL for longs (if trend reverses): 17661
Bank Nifty No. for positional longs (if trend reverses): 17661
Bank Nifty intraday: 17250 level is critical.

[channasri]

Dear novice traders,

EOD of 12-6-2015 also marked an important observation: 50D SMA moved below 200D SMA. This death cross is very important in TA (technical analysis). This hints at more and more downside. At the same time, it is also observed by the time death cross happens, the underlying scrip would be in oversold condition. Due to this, expected downside may happen little later. However, when a death cross happens, probability of downside is more than upside. Oversold conditions may produce a bounce but not U turn.

Please note ChannasriSAR for 15-6-2015:

Nifty : 8074 (This is Channasri SAR)
TSL for shorts: 8051 (This is trailing stop loss for overnight carried
positions)
SL for longs (if trend reverses): 8080 (This is to manage trades on those
days when trend reverses. Otherwise, this No. is not required)
Nifty No. for positional longs (if trend reverses): 8080 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 7960 level is critical.

Bank Nifty: 17608
TSL for shorts: 17559
SL for longs (if trend reverses): 17650
Bank Nifty No. for positional longs (if trend reverses): 17650
Bank Nifty intraday: 17500 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

Please note ChannasriSAR for 16-6-2015:

Nifty : 8055 (This is Channasri SAR)
TSL for shorts: 8032 (This is trailing stop loss for overnight carried
positions)
SL for longs (if trend reverses): 8080 (This is to manage trades on those
days when trend reverses. Otherwise, this No. is not required)
Nifty No. for positional longs (if trend reverses): 8080 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 7960 level is critical.

Bank Nifty: 17554
TSL for shorts: 17514
SL for longs (if trend reverses): 17575
Bank Nifty No. for positional longs (if trend reverses): 17575
Bank Nifty intraday: 17500 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

ChannasriSAR has triggered for both Nifty and Bank Nifty.

Please note ChannasriSAR for 17-6-2015:

Nifty : 8048 (This is Channasri SAR)
TSL for longs: 8048 (This is trailing stop loss for overnight carried
positions)
SL for shorts (if trend reverses): 8020 (This is to manage trades on those
days when trend reverses. Otherwise, this No. is not required)
Nifty No. for positional shorts (if trend reverses): 8000 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 8000 level is critical.

Bank Nifty: 17549
TSL for longs: 17549
SL for shorts (if trend reverses): 17500
Bank Nifty No. for positional shorts (if trend reverses): 17500
Bank Nifty intraday: 17550 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

Please note ChannasriSAR for 18-6-2015:

Nifty : 8052 (This is Channasri SAR)
TSL for longs: 8052 (This is trailing stop loss for overnight carried
positions)
SL for shorts (if trend reverses): 8020 (This is to manage trades on those
days when trend reverses. Otherwise, this No. is not required)
Nifty No. for positional shorts (if trend reverses): 8000 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 8000 level is critical.

Bank Nifty: 17550
TSL for longs: 17550
SL for shorts (if trend reverses): 17500
Bank Nifty No. for positional shorts (if trend reverses): 17500
Bank Nifty intraday: 17550 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

Please note ChannasriSAR for 19-6-2015:

Nifty : 8074 (This is Channasri SAR)
TSL for longs: 8100 (This is trailing stop loss for overnight carried
positions)
SL for shorts (if trend reverses): 8074 (This is to manage trades on those
days when trend reverses. Otherwise, this No. is not required)
Nifty No. for positional shorts (if trend reverses): 8050 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 8000 level is critical.

Bank Nifty: 17582
TSL for longs: 17608
SL for shorts (if trend reverses): 17500
Bank Nifty No. for positional shorts (if trend reverses): 17500
Bank Nifty intraday: 17600 level is critical.

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

Please note Channasri SARs for 22-6-2015:

Nifty: 8075 (TSL 8125)

Bank Nifty: 17639 (TSL 17679)

I prefer to use 5 EMA in 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

Please note ChannasriSARs for 25-6-2015:

Nifty : 8229 (This is Channasri SAR)
TSL for longs: 8280 (This is trailing stop loss for overnight carried
positions)
SL for shorts (if trend reverses): 8225 (This is to manage trades on those
days when trend reverses. Otherwise, this No. is not required)
Nifty No. for positional shorts (if trend reverses): 8225 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 8350 level is critical.

Bank Nifty: 17988
TSL for longs: 18124
SL for shorts (if trend reverses): 17988
Bank Nifty No. for positional shorts (if trend reverses): 17988
Bank Nifty intraday: 18350 level is critical.

I prefer to use 5 EMA in 3 or 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri

[channasri]

Dear novice traders,

Nifty's last trigger on 16-6-2015 at 8048
Bank Nifty's last trigger on 16-6-2015 at 17549

Results of following ChannasriSAR are in front of your eyes only.

There will be small trades in any positional trading method. However, consistency and discipline in following any time tested method is the key to success in capital markets.

Please note ChannasriSARs for 26-6-2015:

Nifty : 8268 (This is Channasri SAR)
TSL for longs: 8312 (This is trailing stop loss for overnight carried
positions)
SL for shorts (if trend reverses): 8250 (This is to manage trades on those
days when trend reverses. Otherwise, this No. is not required)
Nifty No. for positional shorts (if trend reverses): 8250 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 8380 level is critical.

Bank Nifty: 18102
TSL for longs: 18221
SL for shorts (if trend reverses): 18102
Bank Nifty No. for positional shorts (if trend reverses): 18102
Bank Nifty intraday: 18425 level is critical.

I prefer to use 5 EMA in 3 or 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

Greece problems continue to haunt the capital markets all over the world. We need to be cautious. Global bonds markets are nervous and getting edgy and a lot depends on Greece outcome and US Fed's decision. RBI Governor Rajan has raised alarm bells as well.

I have shared a negative Wolfe Wave pattern as an attachment here. Target is well below 8,000. It can break even 7,000. This pattern may not be honoured by the MARKETS also. This pattern is of no value if Nifty sustains above 8500-8550. This is only a projection. MARKETS are supreme. Honouring my projection is at the mercy of MARKETS. I bow to the decision of MARKETS.

Most important: Let's follow PRICE nothing else. Patterns and projections can be many. Trend is Aapthamithra.

Nifty's last trigger on 16-6-2015 at 8048
Bank Nifty's last trigger on 16-6-2015 at 17549

Results of following ChannasriSAR are in front of your eyes only.

There will be small trades in any positional trading method. However, consistency and discipline in following any time tested method is the key to success in capital markets.

Please note ChannasriSARs for 29-6-2015:

Nifty : 8298 (This is Channasri SAR)
TSL for longs: 8332 (This is trailing stop loss for overnight carried
positions)
SL for shorts (if trend reverses): 8280 (This is to manage trades on those
days when trend reverses. Otherwise, this No. is not required)
Nifty No. for positional shorts (if trend reverses): 8280 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 8380 level is critical.

Bank Nifty: 18167
TSL for longs: 18264
SL for shorts (if trend reverses): 18150
Bank Nifty No. for positional shorts (if trend reverses): 18150
Bank Nifty intraday: 18425 level is critical.

I prefer to use 5 EMA in 3 or 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri

[apka]

Sorry to interrupt but that's not a Wolfe wave pattern.

[channasri]

@apka,

I accept the merit of your post. Thanks. I posted it as -WW because, it is difficult to come across a trade set up which fulfils the ideal requirements for a Wolfe Wave. However, you are better than me in judjing WW patterns. So, I respect your wisdom.

One thing is clear, breakdown has happened. Follow up action is required.

ChannasriSAR triggered on both sides.

Please note ChannasriSARs for 30-6-2015:

Nifty : 8311 (This is Channasri SAR)
TSL for longs: 8311 (This is trailing stop loss for overnight carried
positions)
SL for shorts (if trend reverses): 8280 (This is to manage trades on those
days when trend reverses. Otherwise, this No. is not required)
Nifty No. for positional shorts (if trend reverses): 8280 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 8300 level is critical.

Bank Nifty: 18204
TSL for longs: 18204
SL for shorts (if trend reverses): 18150
Bank Nifty No. for positional shorts (if trend reverses): 18150
Bank Nifty intraday: 18200 level is critical.

I prefer to use 5 EMA in 3 or 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri

[channasri]

Hi,

The break down of Monday lost its momentum on the same day. Tuesday resulted in Nifty hitting half a century on the positive side. Sideways trend exists.

Please note ChannasriSARs for 1-7-2015:

Nifty : 8331 (This is Channasri SAR)
TSL for longs: 8344 (This is trailing stop loss for overnight carried
positions)
SL for shorts (if trend reverses): 8300 (This is to manage trades on those
days when trend reverses. Otherwise, this No. is not required)
Nifty No. for positional shorts (if trend reverses): 8290 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 8300 level is critical.

Bank Nifty: 18245
TSL for longs: 18275
SL for shorts (if trend reverses): 18220
Bank Nifty No. for positional shorts (if trend reverses): 18200
Bank Nifty intraday: 18200 level is critical.

I prefer to use 5 EMA in 3 or 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri

[channasri]

Dear novice traders,

As per my opinion, real action is waiting result of referendum in Greece scheduled on 5th July, 2015. Don't trust the views that Indian markets have factored in Greece effect. It may be true or a plot to trap retail traders. Believe only in price action.

Please note ChannasriSARs for 2-7-2015:

Nifty : 8363 (This is Channasri SAR)
TSL for longs: 8373 (This is trailing stop loss for overnight carried
positions)
SL for shorts (if trend reverses): 8363 (This is to manage trades on those
days when trend reverses. Otherwise, this No. is not required)
Nifty No. for positional shorts (if trend reverses): 8330 (This No. is to help
take a decision on trend reversal day)
Nifty intraday: 8410 level is critical.

Bank Nifty: 18336
TSL for longs: 18375
SL for shorts (if trend reverses): 18336
Bank Nifty No. for positional shorts (if trend reverses): 18336
Bank Nifty intraday: 18500 level is critical.

I prefer to use 5 EMA in 3 or 5 min charts or 7 SMA in 2 min charts and the levels provided here for booking profits and re-entry and hedge my positions with options on the opposite side - especially on the day of trend reversal and the next trading day.

I have these suggestions to use 5EMA in 5min or 7SMA in 2min charts:

1) Draw a trend line using Channasri SAR as reference point. Cross over above this is LONG and below this SHORT. Change the trend line daily as per Channasri SAR for that day. For profit booking and re-entry, use the TSL numbers as another trend line and crossovers as triggers. Hope this helps.

2) In 20 days chart of 5 min, chose a big number EMA/SMA like 400 to 1,000 whose value is close to ChannasriSAR for that day. One will have to look for a EMA/SMA No. like this on daily basis.

Disclaimer: I am not a registered research analyst. The above message represents my approach to positional trading in nifty. These are based on my own study. Readers are requested to consider my posts as of academic interest and make their own studies and trade on their own.

Best regards,
Channasri