At 2.20PM:SOLD @ 4982 S&R @ 4995NS. for targets 4965-4950.
******************************************************
At 2.06PM: SL raised to 4979NS but S&R remains the same @ 4970NS.
(Stopped out @ 4979)
******************************************************
Closed shorts & Long @ 4972 with S&R @ 4970NS.
Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
-
I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
8 comments:
Sudharsan, wrote to Illango:-
‘Sir i am holding Shorts from 38% 50% 61% ret....should i exit? pls suggest’
Hi, Illango, I hv observed some serious fault in the sudarshan’s money management (there r many one like him). I want to tell something to Sudharsan through ur blog. I know u’ll never mind. Do u? ..
Hi, sudarshan, u r loosing some ur hard earned money.
That is not trading. U must use stoploss properly, remember Support And Resistance Reversals & do a proper money management.
TOTAL FALL
5182-4538 = 644
23.6 = 152 [4690] STOP LOSS (+30) 4720
38.2 = 246 [4784] STOP LOSS (+20) 4805
50 = 322 [4860] STOP LOSS (+20) 4880
61.8 = 398 [4936] STOP LOSS (+25) 4960
76.4/78.6 =492/506 [5030/5040] STOP LOSS (+20) 5060 [max 5080]
I have similarly 3 times shorted like u from same level, but with profit!
My trade
1. shorted @4784, out @ sl LOSS 20 PT
2. shorted @4860, out @ sl 4880 LOSS 20 PT
3. Shorted @ 4935, booked profit @ daily pivot 4865 (as well as previous resistance @ 4860 which act as support] PROFIT 70 PT
NET PROFIT 30 PT.
Changed my position to long again @4885 [Still continue with my long sl now 4915 (4935-20) [previous sl was 4850 (4860-10)].
STOP LOSS ARE + 20 or -20. Use it carefully; u will make lots of profit. Believe me, I m a mathematician too (with only 2y exp of trading, but doing proper money management is the key to my success). U can always change your position reversely until next resistance occurs. But always give stoploss order as soon as u enter in a trade, don’t do it manually.
U r following illango but not doing proper money management, that why u r in loss. And from my past experience: aggressive trades with daily pivot levels and short term daily target (& sl) always give better result, than conservative trade.
Happy trading with our beloved friend Illango.
Hello Sir,
Is market still in down trend or it will go up tomorrow again?
Thanks,
Abhishek
I think BULLS are getting overconfident... we are @4957 nifty and 5000 put added 3.7L in OI.... BULLS shorted.
Bulls forgot bears are highly there..... lets wait and watch.
Fyi 5000 call added 5.2L in OI so far.
Hi..Hemanta,
Thanks for sharing your experiences here.
Hi..Abhishek,
Weekly down & reversal is expected by Friday close or continuation of down if closes below 4865.
Daily up but in Overbought zone.
Hourly turned down since this morning.
Hi..Prosenjit,
Thanks for all that info..They are quite useful
Hi Ilango,
I bought 2 lot of DLF November 360 Put at 14 in morning,CMP is 18.Shall I hold it till tomorrow or book part or book full today itself.Kindly give you view.
Regards
Amit
Hi..Amit,
I can only talk about Nifty(Market) sentiments. I do not know of DLF's TA.
What is this month's range: High & Low and at what % level it is trading now. If it is @ 50% or lower, then it is weak.
Nifty: right now in up with a possible reversal to be confirmed tomorrow.
Hi Ilango,
DLF's this month high is 397.70 and low is 331, & currently trading 368 which comes to somewhere 47-48% lower from high.
You spoke about Nifty with possible reversal to be confirmed tomorrow, are you talking in sense of down side reversal or up side?
Regards
Amit
Hi..Amit,
If DLF starts to trade near 360, it may turn weak.
Nifty:- Short term trend is up. So reversal down will be confirmed on a friday close of 4865.
Presently 4910-4925 is the supports.
Post a Comment