Namaste - My Learning of Trading in Nifty

[crown]

Berger Paints
Buy price 106.85 (after averaging the stock)
Current price 95.05 (loss of 11%)

current holdings in NSE

In the current holdings, Jubilant, Berger and Hinduja these three are looking not good and may have to come out whenever prices are equal/near to the buying price.

As I was expecting, Berger was not good to enter long at that time. I also had a stoploss for Berger which got hit on last trading session i.e. on 12th November 2010.
But, I did not book the loss and still holding my long positions in Berger.

Reason: The long position in the Berger was taken on 6th Oct 2010; and at that time I was lacking a very minor but very important understanding of the Markets, which is related with time. Even now, I am not fully conversant with that aspect, but at least I know that how to deal with the technical analysis along with the concept of time. And, I expect that over a period of time I will be able to understand and implement it more appropriately.

Now, coming back to dealing with my long positions in Berger. The chart is placed below and Berger Paints is very likely to take support near current levels. And, there are very great chances that I could come out of it either at even price or if I can find any opportunity - I will also be adding positions in Berger paints to average my price and having very minor gains at least.

The coming period i.e. around 2-3 weeks will be the time for me to test my skill and understanding; and I hope that I will be able to convert the current 11% loss in Berger into some gains.

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[crown]

Hinduja Ventures
Buy Price - 470.40 (22 Sept 2010)
Current Price - 452.20 (loss of around 4%)

It is actually a very strong script that I entered accidentally. At the time of entering long, I was really not aware of this fact.
But, this script is not suitable for short term swing and/momentum trading - I will have to hold this script for at least two more months to have a very handsome gain. I am expecting this script to trade somewhere around 600 in next couple of months.

The day it closes above 480, I am expecting it to have sharp upside rally.

chart placed below

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[sana]

Hinduja Ventures
Buy Price - 470.40 (22 Sept 2010)
Current Price - 452.20 (loss of around 4%)

It is actually a very strong script that I entered accidentally. At the time of entering long, I was really not aware of this fact.
But, this script is not suitable for short term swing and/momentum trading - I will have to hold this script for at least two more months to have a very handsome gain. I am expecting this script to trade somewhere around 600 in next couple of months.

The day it closes above 480, I am expecting it to have sharp upside rally.

chart placed below

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Hi Crown,

looking at entry/exit price I would suggest u to use 20MA which is more safer & it atleast gives proper support level & entry/exist price. U can backtest it.
Many a times u can get trap with 15MA, its my experince.

Regards

 

[crown]

Varun Shipping
Buy Price 42.50 (8th Nov 2010)
Current Price 40.50 (stop loss was of close below 41 which got hit in the previous trading session - but I am still holding that script)

Actually, this is the script which made me aware of the time factor. While working on this script, accidentally that thing flashed in my mind - and things became more clear to me. It did took time and will take some more time for me to grasp and understand; but at least now I know that I am on the right path.

This script is going to burst anytime and I am expecting it to trade above 44 in next two weeks.

Though, now I find it really difficult to explain how I am able to conclude it, but I know it. May be, over a period of time when I will be able to understand what I have actually understood in the recent past; I will be able to explain it.


Chart placed below:

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[columbus]

Hinduja Ventures
Buy Price - 470.40 (22 Sept 2010)
Current Price - 452.20 (loss of around 4%)

It is actually a very strong script that I entered accidentally. At the time of entering long, I was really not aware of this fact.
But, this script is not suitable for short term swing and/momentum trading - I will have to hold this script for at least two more months to have a very handsome gain. I am expecting this script to trade somewhere around 600 in next couple of months.

The day it closes above 480, I am expecting it to have sharp upside rally.

Hinduja Ventures is a good scrip and has good fundamentals.
As rightly stated by you, it good for investing ,may not be good for
Swing or Short-term trade.A big NO to futures trading.
In any case keep a stoploss of 440/- and Hold.Last 6 months chart is
quite different from last one year chart.Last 6 months saw some good
momentum in price.

 

[crown]

Hi Crown,

looking at entry/exit price I would suggest u to use 20MA which is more safer & it atleast gives proper support level & entry/exist price. U can backtest it.
Many a times u can get trap with 15MA, its my experince.

Regards

Thanks Sana

I do not use MA for finding the support/resistance levels or entry/exit levels.

Now, I use MA for checking the momentum, therefore, it really makes a very little difference if I am using 15 days MA or 10 days MA or 20 days MA.

If I am able to guess the momentum properly, it works on all time frame of MA; otherwise, it fails.

And, thanks a lot for sharing your experience.

 

[crown]

Crest Animation
Buy Price 104.55 (27 Sept 2010)
Current Price 98.60 (loss of around 6%)

This is another very strong script that I entered accidentally.

I am expecting good upside rally from the day it closes above 106. Currently, validating its support and it will be after the next week only, that I can decide if I can add more positions in it or Not. The level of 95 is to be watched for this script, i.e. whether it retest the level of 95 or not before making any rally in either side.

Chart placed below

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[columbus]

Crest Animation
Buy Price 104.55 (27 Sept 2010)
Current Price 98.60 (loss of around 6%)

This is another very strong script that I entered accidentally.

I am expecting good upside rally from the day it closes above 106. Currently, validating its support and it will be after the next week only, that I can decide if I can add more positions in it or Not. The level of 95 is to be watched for this script, i.e. whether it retest the level of 95 or not before making any rally in either side.

Hi crown,
when compared to Hinduja Ventures, crest is not a good scrip and definitely
more volatile.
In last 6 months Crest moved from 77 to 99, whereas Hinduja moved from
300 to 450.

 

[crown]

Ind Swift labs
buy price 146.45 (28 Oct 2010)
Current price 145.90 (loss of around .5%)

After entering long into this script, the script did gave me a chance to have reasonable profits above 154 levels. But I decided not to square off, because I expect this script to do much much better.
Now, there are two levels to be watched for this script i.e. 142 and 138. If the script maintained the support level of 142, I can expect good gains in very short term may be 1-2 weeks. On the contrary, if the script violated the 142 level and take support around 138, it may take at least 2-4 week for this script to show reasonable gains.

Chart placed below:

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[crown]

Hi crown,
when compared to Hinduja Ventures, crest is not a good scrip and definitely
more volatile.
In last 6 months Crest moved from 77 to 99, whereas Hinduja moved from
300 to 450.

Thanks Columbus bhai

Yes bhai, you are right, compared to Hinduja it did not moved equally. But, for some reasons which I am unable to explain right now, I am quite sure that Crest is going to be a reasonably good script.