Trading Strategies Using Technical Analysis

[NANDAMAD]

As you guys know I am Swing Long in a Falling market. I had recently closed my shorts and had gone short due to the reasoning given in SG's thread. I have marked the points where I am long on Bnifty and Nifty. Same trades were posted two days back.

Swing Longs are taken because,

1) My bias on market remains on the upside
2) Expecting significant upside if these levels sustain
3) Markets are at important support.

Just an explanation of the same.

Bank Nifty

...........................

Nifty

Tc

Sir,

Aaap ke mooh me ghee shakkar for telling that markets are @ imp support level. Hope it gives me chance to come out of my long positions. Thanks
Please keeep guiding sir, with experience people on the thread, atleast we do
not panic

 

[SwingKing]

Sir,

Aaap ke mooh me ghee shakkar for telling that markets are @ imp support level. Hope it gives me chance to come out of my long positions. Thanks
Please keeep guiding sir, with experience people on the thread, atleast we do
not panic

It is at support level. But it can be violated.

Dont try to buy falling market. I know how to do it and hence I attempt it.

Tc

 

[Lalit.Sikaria]

Re: Congratulations, Sir!

Congratulations Raunak Sir for you becoming the Moderator.

Have started following your thread only a couple of days earlier. (only a few months old on TJ). Find it very enriching. Will get more time on weekend to go thru the same at leisure and understand it in a more matured way.

I would love to learn how to read charts..

but then that's too far away... right now, I am pretty worried as to when would markets move up... I was long since December end and added position when NF was @ 6100..

However, I still believe that markets are bound to go up and hence, am sticking on to my positions.

EagleOne,

Thanks for the wonderful message.

Let me answer what you have written in points. I lack "the gift to write" the way you do and hence I feel it is more appropriate if I do so this way.

1. Thank you for your wishes.
2. I have always tried to remain polite and gentle whenever anyone has approached me. I know what anxiety and fear do to one's confidence and hence if my words help calming someone down, then I would have my purpose resolved. I even know what it is to lose money in markets. Hence whatever I write here, I do so to ensure no one goes through a phase of consistently losing money at least. I don't know how successful I am in doing so, but that does not deter me from writing what I know.

 

[nimish_rulz]

Same as yesterday, if it fails to go in positive zone atleast +10 its going to fall like it did yesterday charts looking similar and timing.

 

[SwingKing]

Same as yesterday, if it fails to go in positive zone atleast +10 its going to fall like it did yesterday charts looking similar and timing.

You should have stuck with what we discussed yesterday dear.

Hope you did and hope you benefited.

Tc

 

[SwingKing]

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Every user of this Site can "Read" what is being discussed here. However, only "Members" of this sub forum will be allowed to "Read" and "Write" in this section. This is mainly done to ensure "Clean" discussions.

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Tc

 

[krushi123]

You should have stuck with what we discussed yesterday dear.

Hope you did and hope you benefited.

Tc

Sir,

Any tentative upside numbers that you can give .. I am holding longs from yesterday.. Got scared in the morning... but remembered your 5690 chart... and held on..
Holding Jan Nifty Futures.

 

[SwingKing]

Sir,

Any tentative upside numbers that you can give .. I am holding longs from yesterday.. Got scared in the morning... but remembered your 5690 chart... and held on..
Holding Jan Nifty Futures.

Krushi123,

First of all, its good to be afraid. It will prevent you from making mistakes.

After the move we have had in the past hour, I would not like to look at 5690. I would look in a band of 5670-5690. Below this band, I am off my trades. As far as targets are concerned, I honestly don't know. When you feel you have made enough profits off this deal, just exit your position.

I will carry my positions till we move substantially higher or till we breach the band.

But keep SL in mind and trade well.

Tc

 

[DanPickUp]

People were falling over each other to buy SBI yesterday. It touched a high of 2689 yesterday. I did not participate in that rally. So, today, I bought at dips.

At first shorted SBI @2634 and covered @2624. But soon, SBI was @ 2640 levels. There was a lot of strength, as every dip was being bought into. So, I went long.

First @2620, from where SBI had bounced in the morning. Then, added @2609, then @2601, then @2580, then @2573 and finally @2560. All these positions were added after carefully watching SBI linger at these levels for some time, often going higher.

I kept adding at dips... whenever I saw some stability, but it kept cracking downwards...

Any stoploss level for SBI? I don't want to carry it to 2400 levels...!

Hi gauharjk

Average range in the last few days have been by 80 until 100 points per day. 50 points are reached now as I write this post by 2580. If the market can take yesterdays last swing high around 2580 we may could see 2600. If this is taken, the way up to 2640 is more or less free.

Adding to go long in a down trend is very risky. If you can avoid that in the future, do so.

Watch the level now and if the market not can take this level, I would reduce the positions 2580, 2573 and 2560 very quickly. My positions then would be left to half and my risk is reduced to half.

Stop loss is made by you with your risk profile and I do not know it. I know, it must be high, the way you take risk.

Just my ideas and no advice to take any action on that. If you do so, it is on your own response. Change your money management for the next time.

DanPickUp

 

[nimish_rulz]

RB I did stick to it and exited today at 5850. As we in Jaipur have kite flying festival so exited and now reentere at 5730.