Charts for the Day

Dear Anil,

I'm mainly exploring ways to safeguard against unexpected high volatility moves - for instance demonetization / US elections, so that the severe drawdowns can be avoided.

I remember you saying that you only trade the long side. Was just wondering - during the onset of bear markets - eg. sep/oct to jan, do you close all positions and turn intraday trader. Or do you bear the frequent hits to SL (quite demoralizing though! :p)

Also, during known high volatility events - eg. budget / stock specific results / US elections / Brexit etc., do you exit positions or hedge them in any way (say buy puts).

Thank you.
If market is in severe correction mode, i prefer Nifty F&O only...Till date i had not shorted any stocks out there...Maybe i lack confidence in shorting stocks...But yes trades in Nifty F&O extensively...That too especially writing the puts-calls...
 
Anil bhai,

In addition to your above post, the bank nifty weekly chart has touched the resistance line. This week close gives a probable short opportunity.

https://www.tradingview.com/x/xVqDWGLO/
Yes thats the point i am focussing on whole upmove banknifty is relatively performing better than nifty. nifty is yet a way below TL resistance from top...

Now to your point of shorting it here...Its a short with tight stoploss...if wrong on trade better to accept rather than fighting the breakout on charts...
 

ravi2126

Well-Known Member


Looks triple bottom candidate..looks good....anil ji if i m doing mistake in charts let me know....n sorry for posting charts here...as amit bhai thread is closed so i m posting here...regards.