Thursday, May 29, 2014

Nifty, after a pause, broke below the critical mid-channel support @ 7314 and fell.


20 comments:

J.R.Julius said...

Good Evening Sir & All.
Have a Nice weekend.

@JN Family,
I need a feedback from those are using Zerodha.
Heard very low Rs.20/- brokerage for Futures & Options.
Please send your valuable feedback to open a/c
with Zerodha. While consider Brokerage, Charts, Customer Support,
Safety, advantages/disadvantages & other options too.

Im in a need of changing my current broker.
Expecting reply as soon as possible.
Thank You.

radesyam1 said...

hello
i am not able to open nse tame chart. error is coming. any one can help
syamala

anand said...

@Julius ji,
Am using it since December.
Good service and prompt reply etc.
Nest is good and you can trade on the mobile app as well.
If you cannot install NEST, the similar Z5 on IE10/ Chrome is good.
Cost per order only Rs 20 is correct but in general 1-1.5 point per trade for Nifty Future. (And if you win their 60 days challenge can get this money back :-)
Check their online calculator.
You can place order on phone using a Pin Number (Have not tried)

Charts:
In nest plus they are available. rela time Spot (NS) is not yet available.

Safety:
Well my first experience with upside freak today is not their fault.. They could convince me with right data and explanation ...and in a courteous manner...understanding my position.

Informative website but no TIPS (we don’t need them anyways_
I switched from unicon in time and lost only 1000/- bucks with them since unicon delayed payout once and that was trigger for me (tripwire)

They are banking with HDFC. You can add many accounts – with one primary for withdrawls0 and withdrawals are smooth - request can be put up till 730 and you get cash before 10 next morning even on Satrudays...(request made on Friday before 730).
Payins of funds – instant access- cost only Rs 10/- and to save on that you can do NEFT also
No paper contracts etc- all digital . Send them a mail and they will send the link to download the forms, fill them and send them with cheque for cost - very low..
Other processes are well explained on the site. You can certainly browse thru that...

Every broker carries risk but this seems with some sense/ brains. They will cut your cover orders/ bracket orders and when margin is not there- no calls. (Discipline).
Backoffice site is good with clear numbers.

Missing :
Real time charts for NF and NS for non-nest plus.
in absence of NESt, trading on trade express can be cumbersome for futures....but then Mobile app works fine - have traded from that and placed orders too.
Don't get any relationship managers...(Low cost)
Hope this helps. Call them / email them and they will serve you.
OR Mr Khizar Khan told once that he is an authorized agent for zerodha- hope you get a post from him !
Cheers!

Prabhanshu Raman said...

JRJ, dropped you an email to you. Hope that may help

Prabhanshu Raman said...

Anand, the best things I like in zerodha are:
1. Flat 20 rs brokerage in each leg irrespective of number of lots..2/10/100 lots they will charge only 20 bucks. So buy sell 40. 2 lot nifty future break even is 2 points including taxes and everthing.
2. 60 day challenge : after 60 days, if your net result is positive, brokerage will be credited back for these 60 days.
3. Associate program: one who refer clients to zerodha, they get 5/10% of the brokerage generated by referred person. So if you have referred 25 and each one of them do 10 trades in a day, you may earn upto 11000 per month. So generally I keep asking people to open an account with zerodha :-p
4. No tip business, they have structured such a way that help traders. The owners were used to b great and successful traders earlier and they understand the problems generally faced by traders.
For charting, need to take subscription, but fine... 20rs brokerage mein itna hi mil sakta hai.

Abhi said...

Hi,

Do you have any feedback on RK Global ?
I have started using it.
Borkerage is very low. But how about safety ?
Any feedback pls.

M. said...

Anand / Prabhanshu ji, can icici demat ac be linked to zerodha? i only trade derivatives one or two lots of sbi or nifty. sometimes i hold the contract for a day but its mostly intraday. in this case will i need a demat with them ?

Raghavendra said...

Dear Julius,

Prabhanshu and Anand has shared lot of details . I have been using it for past 2 months and it has significantly exceeded my expectations in terms of Trading platform, ease of use , choices on instruments, pay in & pay out etc.

Significantly - On Big event like Election day - Zerodha platform was responding much better than ICICI direct ( user for past 5 years ).

Prabhanshu Raman said...

M.
For this you need only trading account. No need of dmat. You can open only trading account with zetidha and no need to link your icici dmat as well. But in this case you might not be able to view live stock spot prices in zerodha.
If you link your icici dmat, then brokerage will not be same for equity deliveries. But remain same for fno ie 20 each leg. But in this case you will b able to view stock spot prices

J.R.Julius said...

@Mr.Anand, Mr.Prabhanshu Raman & Mr.Raghavendra,
Thanks for sharing your experience & Suggestions.
Thanks for your time.

Regards,

POWERTRADE said...

The weekly trend to assert itself -- a dead cat bounce till 7298 7301 followed by a sell tomorrow only :
All in radar tomorrow :

7070 coming soon :)

anand said...

Just to update..of late demat account opening is must even for derivatives. But you can link a existing one..
Check with Zerodha.
RK global seems more like unicon...am ready to have low feature but safety first. ..hope someone share the experience.
And we are not promoting zerodha....just sharing "observations and studies"....ready to write more for our senior and serious mates...like JRJ.
Thanks...

anand said...

would advise JRJ to get ur name referred by an existing user who is ur friend etc...he will get benefit
...10 pc of ur commission. ..!

hello said...

sir now up C wave 4th leg

Rasendra Zala said...

Good evening Sir, I get answer from TT. Thanks.

Pattern Trading said...

Hello master and blog mates

Reason for pause in bank nifty: Click here

J.R.Julius said...

@Mr.Anand,
///Don't get any relationship managers
How to do this?

durga said...

good evening master n blog mates
iam using zerodha .no problems as such,,

anand said...

End of Day
29-May-2014
Good evening Sir…!
Falling nifty created “Channel breaking” news . Closing below DHEMA since 26th May was first signal of weakness but market was holding in anticipation of trend resumption and trend indicator was holding up which started turning down since 26th .
Day saw 2 freak trades in NF – in first sessions. God bless the survivors and the strength +wisdom to the affected. New learnings….every day!
Patterns working:-
HnS identified few days back on 5 minutes and 30 minutes by Shriram is working. Its one of the most quoted pattern – by non traders mostly and thus most failed- and when it works we have seen it happening ! Wish all the best for targets.
Another triangle pattern on daily charts too… has shown breakdown today at tip and as Master has already “reddened” the indicator, shall we see a pullback or part of it in the strong trend as we saw in an earlier pullback where NS reversed from 100 pts earlier than its maximum target for pull back.
Lets ride 2nd corrective down before a furious 3rd or 3rd ?
Week trend is dented today- holding below the 7275 levels, we can see the 7131 ?
Supports at 7198-7179 if 7224 is breached ?
Resistance : 7252-61 first where DLEMA is placed (38-50% of the fall from 7295-7226) and then above 7289- WHEMA beyond which again JNSAR reversal – if a sharp bounce happens.
On wave side, the down move from 7338 has not completed its 5 waves and we can see a flat move at open before a break down. Should not cross 7259 (first point of stalling waterfall ?)
And FIIs selling increased to net 523 Cr sold 7300 cr and bought 6800 cr in cash.
In F&O , net futures sold only 100 Cr, longs are still held ? or due to expiry these numbers don’t reveal much.
In open Interest where 37 Lacs in may contract were reduced, 40 Lacs were addedin June NF-> so more shorts rolled over?
For options : 7000 CE has 11 Lacs OI- first support.
7300 CE has 26 Lacs OI, 7400 CE has 31 Lacs-> So 7300 is first resistance (JNSARIANs are smiling a lot 
On Put Side : 6800 PE added 14 Lacs (hedging for a breakdown?) is strong support for June – as Shriram advised. At 7000 PE 30 Lacs OI and 7100 PE with 20 Lacs is support.
More from Sanjayji…. Am not clear on this part at Series open – tomorrow we may get some clarity…
All above are a blind man’s eyes…. Let Master not ban me for Zerodha’s promotion or these EoD posts..!
Thanks to all…Good Night and See you in the morning.

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