Thursday, May 15, 2014

Nifty Intraday Update-II


58 comments:

Ilango said...

Above "7107-13", correction may be considered done, strength returns..

Guru Krishnan said...

Wow 9% up INDIA VIX.. Casino Owner's lucrative offers going on.. :P

A J said...

Any election result specific strategy you are planning to take guys?

I am planning to take intraday trades, no trade in options due to high premium. Might just watch TV, to enjoy "dance of democracy" :)

Nagaraju G said...

I am holding only one lot of 7400ce, lets see what happens :D @A J

anand said...

Is a running correction done at 7083 ? Hope so….lets see !

Ilango said...

@ A J,

Congrats.

You have been awarded "Top trader" from Zerodha.

That is just wonderful..........Daring greatly..!!!

shriram said...

T1 : 468 done, time to say humble tks to TISCO & welcome Laksmi home :-)

A J said...

@Nagaraju G
You plan to take it over the weekend? In case the market goes up?

shriram said...

congrats AJ , ru a full-time trader ? How has ur experience been ? How do u self- analyse / track monthly pts performance or SWOT ?

Pls share for practical learning view pt, tks :-)

A J said...

@Ilango
Thank you :) However it was not a big win. Very volatile performance.

I have won another one this time. I am processing this with Zerodha currently. This month performance is good. Not judged on basis of money but based on consistency of strategy application and account draw-down during the challenge duration :)

Nagaraju G said...

@A J, yes i am planning to hold it.. Pure gamble nothing else :)

anmpatel said...

@Prabhanshu

here is the best option calculator for me...

http://vindeep.com/Derivatives/NSEOptionsCalculator.aspx

i just saw ur comment,

thanks.

Piyush Sharda said...

@ anuj, bull/bear spreads , if vix is low option buying and hedging, if vix high
option writing and hedging?

Prabhanshu Raman said...

Hi AJ, Congrats..... :-)

ANM - Thanks buddy..Actually I was looking that what should be the theoretical option value on 19th. This will help

dv pandit said...

Respected Sir,
Pl help me for tomorrow. Can i bot 7400 call@139 & 7000 put@190.Will it will be better strategy for tomorrow.
Regard

shriram said...

+WW on Larsen on 30mins .. 1-3-5 trig is 2,30min candle closes > 1780 ??


Guru Krishnan said...

Congrats AJ :) waiting to here more from you (on shriram's Questions) :)

shriram said...

if anything > 7140 NS , and 7172-7083 NS may be seen as a WXY fall done ??

Hemant Harke said...

More confident on Ilango sir's EW than event, 8k coming soon :)

sometimesbullsometimesbear said...

@AJ Congratulations budddy.....Keep it going....:):)...U r one of the rare ones....:):)
Wish u all the best for the future too....

GANESH said...

@ Sir , Correction over ? :)

A J said...

@shriram
Yes full time trader, if you go by the definition of "full time trader". No other source of income....sadly.

Experience has been okay. But i don't recommend full time trading to "excited" one that I meet often. I can do it because of certain factors. That I find others difficult to replicate. For the ones who are passionate about trading, they don't really care about who say what! :))

Yes i do self analysis.

Yes track monthly points performance. SWOT like what? can you explain?

Recent success is attributed to vast reduction in my expectancy from market.
Hope it helps

A J said...

@Piyush
"bull/bear spreads , if vix is low option buying and hedging, if vix high
option writing and hedging?"

You mean for election result day tomorrow ?

Rajaram'z said...

Shriram ji and Chetna,

Are your views on TCOM is still on?

shriram said...

@ AJ : SWOT as in

1. how do u evaluate / review & push the accuracy of trade entry up ?
2. Do u follow a SAR trade strat or pattern trade style ?
3. Are u a Futurz player , or Option buyer / or Option writer / or Delivery player... which works in which MARKET MODE per ur exp. ?
4. What are the PITFALLS of Full time trading ?
5. What has been ur best / worst monthly return (Nifty pts or % ROI)
6. Do u have a check-list / Ritual / Routine every morn. to get into GROOVE
7. How many scrips / Indices do u track ?
8. How many days does a typical trade last (entry-exit time diff.) ?
9. Do u have a monthly tgt of Nifty pt ?
10. What do u do once Monthly tgt is done ? Do u gun for more, or shut shop ?

Anything else, pl feel free to elucidate !



shriram said...

@ Rajaram'z : I hv begun trackin this only from ysday. Yet to form a firm view.. -WW on 30mins may tirgger below 283, tgt 272.. will let u know after a couple of days

Ilango said...

Ilango said...
Above "7107-13", correction may be considered done, strength returns..
May 15, 2014 at 12:02 PM

marina s rao said...

Day Low : 7082.55 Day High : 7152.55 Range : 70 Points Day Pivot : 7111 Hour Pivot : 7098

NS above HKN ( Hepta Kilo Number ). Currently hovering around @ 7123.

NS entered BAH mode for the Hour ?

More weakness below Hr. EMA @ 7105.

NS started the hour in SOR mode.


For learners sake :

SAH = Sell And Hold BAH = Buy And Hold

HKN = Hepta Kilo Number = 7000

Prabhanshu Raman said...

Sir, how to trail this? Last rise retrace ie 7082.55 till 7130?

Piyush Sharda said...

@anuj,
yes. spreads will reduce cost if one wants to buy options , it can hedge if one wants to sell

DR.SGM said...

Dear sir can we consider 5th wave failure in the C leg?

Chetna Jethi said...

wait for Tcom to show some price action..be patient for a good entry..

@shriram..am still riding the Tisco..Still it is not giving the tired look

Bharat Kumar said...

@ Chetna - Likely price entry for T Com pls!

A J said...

@shriram
Too many questions. Will have to write a blog! :D Meanwhile you can check the link below. Very nice practical questions and answers with one of Zerodha's challenge winner. Hope you enjoy.

http://zerodha.com/z-connect/zerodha-60-day-challenge/winners/mr-consistent-returning-incredible-returns

Recommended for all.

bb said...

@Chetna - Do you think shorting TISCO at 468 is a bad idea for a short term trade?

Ilango said...

@ Prabhanshu Raman,

Yes. Weak below 7092-7101.

Rajaram'z said...

Thank you Shriram and Chetna in it for medium term (3months) as it looks like a multibagger.

shriram said...

--> back

@ AJ : wolfed down my lunch to see ur reply !
tats ok, wenever u get time on a weekend, pl do reply. Am deadly serious about making trading as a career, tks :-)

A J said...

@Piyush
Yeah, as per theory it is good. Cant find a practical way out for this election though. For spreads we should first decide the direction and momentum. Even non direction spread like Iron butterfly and reverse iron butterfly will need huge margin and very less profit.

I find intraday futures best for this time as results will be declared intraday.

Sonu said...

@Ilango Sir,
How to read the following 2 messages together?

Ilango said...
Above "7107-13", correction may be considered done, strength returns..
May 15, 2014 at 12:02 PM


Ilango said...
@ Prabhanshu Raman,

Yes. Weak below 7092-7101.
May 15, 2014 at 1:23 PM

marina s rao said...

Day Low : 7082.55 Day High : 7152.55 Range : 70 Points Day Pivot : 7111 Hour Pivot : 7112

NS above HKN ( Hepta Kilo Number ). Currently hovering around @ 7110.

More weakness below Hr. EMA @ 7110.

NS started the hour in SOR mode.

Below 7092 NS enters SAH mode.


For learners sake :

SAH = Sell And Hold SOR = Sell On Rise

BAH = Buy And Hold

HKN = Hepta Kilo Number = 7000

A J said...

@shriram
LOL, I will go for lunch now. Just have low expectation, aim for consistency. Benchmark yourself against mutual funds rather than Larry Williams. Take it like a test match rather than twenty twenty. Keep your wicket and stick around.

How many Nifty points you aim for in a month?

shriram said...

@ Aj: i current make 80-100 NS pts a month / lot (or more depending on strength of trend).
i trade pattern triggers & write OTM options for entry, SL is fixed 20pts.

End up making 14-18 trades a series ruffly.. this strat. has been in place for the last 1 yr.

Sonu said...

Good PE addition at 6800 and 7000
http://www.niftytrader.in/nifty/nifty-live-change-in-oi/

Sonu said...

@ Ilango Sir,

If NS goes below 7092, would it indicate 'Correction Continues' for lower levels?

anand said...

Observation :
80% retraced of the last rise from 6083- 6130 at 6192 ? will it hold this time? Lets see

Sonu said...

@Ilango Sir,

3 waves seem done at 7091? Fight still on for 7100 level

http://www.niftytrader.in/nifty/nifty-live-change-in-oi/

sudharsan said...

Views on TCS pls??? Trading around JNSAR

Chetna Jethi said...

@BB..risk reward in shorting tisco is not good..It may do a quick running correction and waves may subdivide too, looking at current market conditions and tisco indocators..

anand said...

Type : Correction Rise from 7083-7130 retraced 80% at 7092 !

Ilango said...

New Post Done.

deepak pinto said...

6080
Surrvived 3 attempts
The arm is getting too long. With a test of various upside levels.

A J said...

If you are content and consistent with 100 points that's wonderful. You need 8.3 points of nifty per month to get 10 percent return on Rs 50000 i.e fixed deposit return. Hundred points is way too much and exceptional return if consistent.

What if i ask you to reduce it to 50 points in month. Your consistence will improve and stress level will go down. And still you will get a decent return. With multiple lots and margin you can achieve your monthly money target.

But often we come across people saying I can easily get 20 points per day intraday, that is 20*20 = 400 points per month. How many can consistently do that?

STOCK4SURE said...

Yyesterday high was at 9.50......

today high at 9.25

will nifty make another high at 3.20pm today????7160

Ramesh said...
This comment has been removed by the author.
Ramesh said...

TChem can be bought SL of 295

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