Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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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...
50 comments:
Babu - Jind-Saw can really go low - upto 190.
Arun - TCS is a worthy try at these levels - or will wait for a bit lower ???
reposting
sir,
when market rises fast and hits resistance (channel;) shows divergence and spends time there. day hema and ema rises, similarly when market falls shows pos divergence and spendas time there low ema falls.
sir will it not be better to initiate short positions after close below day hema and long above close because hema rises as market spends time on top and lema falls when market spends time at bottom. loke dhema is already 5299 now
Thanks rajagopal sir. I am planning to keep my TCS short until 770 levels. Since I am not following Jindalsaw stock, could u please suggest this - Did u went short on Jindal Saw?
Learning EW,
Yes. But strictly intra.
@ All,
Somebody had mentioned hotel Leela yesterday here, repeatedly. It's up about 3%.Pls keep posting such useful data. Thanks.
Respected seniors
after entering the 10'clock data 5EMA changed in to green before it was in red ...what is the inferance ....as a new i am not able to understand please any body explain me .....and how to use the given excel tell me please if not possible now after trading hours also ....my mail id is "saptasaila@gmail.com"
thanks
SRINIVAS
Dear Rajagopal Sir,
one of the broker said market NS AROUND 5600 THE REASON BEHIND IS ALL CORPORATE YEAR ENDING RESULTS MAY GOOD PLEAASE GIVE UR VIEWS
nifty in a equi triangle in 5 min 75% probablity upside 25% downside
@ Piyush,
Market actions are not similar at every tops.
When we take action bases on the above and market tests our patience, you could do as per TA by waiting for the first sign of weakness and initiate a trade OR near the channel res. and have a SL & sit tight. There are instances where market has fallen steeply thereby not giving a better entry price.
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VAL @ 5315 has been holding.
One could attempt an intra long here..SL 5310NF.
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Narrow range of 16 points in the nifty for the past 90 minutes.Watching VAL as action point.
However if the seller from yesterday afternoon does not return,buyers will take it much higher.
That being said,trade facilitation on the upside is poor as 5334-5344-5351 are proven resistances.
Viren
thanks
broken down, hope our shorts will be blessed
gm all
thanks sir, those r still for study. money is only put when u say.
Hotel leela- 4%.
Who gave this view? I liked it becuase you spoke about buyers and sellers :)
@RG
Sorry just now got a call from broker, Unitech long only once if crosses 74.20, so my order not executed.
Is this our beloved ilango only or some one else..
http://www.theautomotiveindia.com/forums/showthread.php?s=77d2266fc397a79e61169377b2f859e9&t=351&page=4
Good morning Ilango Sir and all blogmates
Good morning to everybody.
Sir,
u have any idea about Tata Communication?
It is around 280 with 272 as recent low. Ever since it broke 330 support, it and closed below 300, it has never tested the 330 levels.
If mkt keeps going up, at some pt, will these kind of stocks also not test previous support level. So a 20% gain is possible for a 3% risk.
MTNL is also having the same story - although stop loss is much lower than ZTatacomm
Arun/Babu - Holdig TCS short.
Went short in Jindsaw - holding long from lower levels - exited
Viren - This is a hit and run stock ("Punter counter" - even buyer/seller could be manipulated). Please be careful - take what we get and re enter strategy.
Sir,
The low for Bajaj sugar in July 2009 is 129. That level is providing support now. So why is your stop loss 130 and not 128?
Babu - n Unitech from 72. Holding.
@RG
I am holding short tata motors,jindalsaw,suzlon,unitech. Unitech reverse if crosses 74.20 ( future price). As usual Sir's nifty short.
Any calls from your side?
@RG
TCS short also holding
Sir,
Please do not mistake me. The way I asked about stop loss for Bajaj is looking rude. I did not write that to point your mitake.
My intention isonly to make sure that nobody suffers because of a wrong stop loss.
Spice Jet is also showing some movement due to take over bid rejection. Price may go up to help stronger bargaining. Keep a watch.
@Govind
Ilango sir told its for investment. If i am in your place, i will not put any stop loss( If Sir mentioned also) . Reset Sir has to say
Babu - RPower and Spice. TataMotor-Long c/f,TCS,
Axis Bank on short call. Pls check.
Mr.Ilango Sir,
I am long in NF at 5314 with SL 5310. Pl.advice exit level.
Thanks
@ Govind,
I do not follow Tatacomm. And MTNL is a dead stock..I have watched it over 10 years.
Stop loss varies to each individual based on their criteria and each one will justify theirs.
My SL is generally small as I try to pivk the tops & bottoms with my little knowledge of EW. I get stopped out at times and often I get good entry prices. I try to give back to the market less than I take from it.
Even now, when I gave an intra buy suggestion near VAL @ 5315, my SL is 5310 based on intra chart's "OS" position. If I go wrong, it is a 5 point loss. If I get it correct, 20-25 point gain.
I did not find anything rude in your question. If I don't answer sometimes, it is not because I am upset but it could be because I may have been busy or did not have a good answer..etc.
@ Prabhakar,
If POC @ 5323NF is crossed, then 5334(VAH) is a logical target..
Thank you Sir
@RG
RPower, i made blunder at the time of IPO.. applied on 17 accounts.. was able to sell only 9 accounts when listed with 15 rs profit. After that keep averaging it :) I hate this stock :)
I agreed your WORD Mr.Babu
Sir,
Thank u for replying. Now my mind is at peace.
I agree about MTNL. I remember buying MTNL for Rs 155 in 1999. I sold in 2006 for same price.
I only suggested because both MTNL and Tata Comm are near lows just like sugar stocks.
@ govind
if u look d past if anybody invested in any tata group stock march 09 ..gets almost 200 % return tl date..but TC(earlier VSNL) saw a steep fall frm 500 lvls to 280(fii liquidated long positions)evn n bad times it ws always abv 500..
Vsnl has a huge land bank
@ Govind,
Sugar stocks are commodity type and they tend to move in one direction after reversal well like steel, cement & oil stocks. That is a difference worth remembering...it helps in your trading of these stocks well.
Telecom stocks are often affected by news events. However, they too will work with TA.
If you are able to spot divergences, then make a trading plan and execute it.
@Govind
I think in all cases it not like that. For example, when i completed my 12th, My aunt given me 108 reliance shares( she got those as bonus) before reliance demerger. Still I am holding it. Can you guess how much worth it now?.after demerger I got 108 shares for each different reliance company
RajaGopal,
Which was the stock you were talking about?
Babu sir,
I remember buying SAIL from 1997 onwards till 2000. I bought it for Rs 20, again averaged for Rs 12, again averaged for Rs 8, again averaged for Rs 6, again averaged for Rs 4 and when it came to Rs 2 range, I decided SAIL was only going bankrupt and stopped averaging, but did not sell my investnents. From Rs 2 or so, it multiplied more than 100 times in 10 years.
I have never seen an index stock multiply 100 times in sucj a short time in my life. I do not think I will ever see such a stock ever again.
I sold most of SAIL between 50 and 60. On that day CNBC said SAIL was the 7th biggest market cap company, so I decided SAIL was no longer value stock. I used SAIL money to buy e0serve, HTMT, geometric, etc
tata chem looks like on the verge of a good upmove of 40-50 rs. in next few sessions.
And I sold e-serve for Rs 975 tender offer. HTMT for Rs 360 and geometric for Rs 130 (before split of 5 for 1 ???)
Viren:
Hotel Leela - punter's delight. Though it was spotted well by our friend - i am just entering/exiting 1 lot at a time.
Fun is it allows both side trading intra.(Promotor Leela Penta very enterprising Lady in 70s and 80s).
RajaGopal,
It was a good spot.
It also looks to have broken above a horizontal TL from mid-jan with good volume.
On a lighter note, you seem to be well versed with all punters. How about anothet excel- "Punter's calls"
If the 4th wave terminated with the downmove to 5205, this fifth can extend upto & beyond 5400. Personally i think this scenario may work out. Long @ 5305 (NS) SL 5300 Target 5340 and above
GA all Blogmates and Illango ji
sir conwe initiate a fresh short at you given logical target of 5334, for positional shorting as per all disscussions going on here
regards
vikram
waiting for reply from all also
rajagopal Sir,
i am short in tcs can i hold the same
Prashant Sir, target 5340 is NF/NS?
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NEW POST DONE
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@ prabhakar
its spot
hi
i have tcs 2 call 840 shorted at 20 now its 9.50
can i book it ?
bank nifty i have shorted at 9160
can i avrage
anyone guide me please
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