iCharts Discussions

[ankur11_11]

Sold both lots at 9165 .... Having some Network problem due to storm here ..... Will post details later.no new position as of now.

Om Namaha Shivaya

[EssJay]

booked may fut at 9191..profit of 36 points.

[ankur11_11]

Ah! well friend .. i could not trail nifty due to bad connection ... but as usual ... we can cry with money in the pocket ... lol

Nifty future has to close above EOD level .. May future reversal level is closing above 9214 ... or an hourly sell signal confirmed that will drag down price below 9214.
Till then Sit on Cash and enjoy the show.

Om Namaha Shivaya

[ankur11_11]

So Let us Calculate ..

9165 - 9129 = 36 points - 3 points = 33 points in 2 lot or 66 points in one lot = 4950 Plus previous 4112 (excluding all loses) = 9062 Rupees of Profit.

[EssJay]

[ankur11_11]

Soooo .... In days chart Nifty seemed to post a bullish trend ... but , I recon Nifty is going to headed for a range bound market .... so instead of following EOD supertrend signal ... I am changing my method to Hourly signal for entry and halfhourly signal for exit in long or short calls.

This is where swing traders hit failure most.Its time to change strategy. Same method but smaller timeframe with a splash of W%R.

Lets see .......on daily chart The upper line of BB is 9315 and the lower level of BB is 9110 ... we can expect Nifty future may to hover within this range until any of those level are breached with heavy volume.

On hourly chart .. Hourly buy signal is performing right now with hourly reversal level 9223 of Nifty May Future for this hour till 3:15.
So trades will be executed just before the candle close.

Please understand ... hourly candle formation time is like this ... 9:15 to 10:15 , 10:15 to 11:15 ... so we are going to sell Nifty when Any hourly candle closes below Supertrend Support/reversal point ... which is for this ongoing candle is 9223 , it will change in the next hour.
So my posts may be more frequent when price is hovering around hourly reversal point .

By the way the EOD support is seen to be forming around 9130 .. way down 115 points. Not neglecting that .. so we must book any amount of profit we get from hourly sell signal when nifty nears to EOD support level of Supertrend.

I am Not Bull or Bear ... Just going by the trend abiding the time frame.
Lets not attach our-self to any ideas and speculations.

Om Namaha Shivaya

[EssJay]

Koi trade liya?

[ankur11_11]

Hands free .... Sleep well EssJay.

[ankur11_11]

On hourly timeframe ... SELL nifty future MAY series at around 3PM IF May future fails to close above 9360 ...

Sell only 1 lot .. Just be cautious.

[EssJay]

ha ha aa gaye...mujhe laga so rahe ho

[EssJay]

sold at 9355

[ankur11_11]

Ah! the candle closes at 3:15 PM ... anyway .. market closing above 9360 is SL for today's 1 lot sell position (my sold lot is at 9348).

[EssJay]

let me know if you exit

[ankur11_11]

Above 9360 closing of May future is exit .... Not going to buy at this high , People are greedy now ... so i am fearing the market ... No one is thinking about correction ... even not a healthy one.
ITs just I missed a good range bound hourly buy signal from 9130 level .. awesome movement.... but thats ok ... I am not in Loss.

Still on EssJay .. will exit right at 3:25 , does not matter what the price be , if it is above 9360 .. i am out. do not worry.

Om Namaha Shivaya

[EssJay]

understood bro