Day Trading Stocks & Futures

[timepass]

You mark your failures, fine. But also comment on the better days too, just to even up the things. Make them in different colors. No point beating yourself.

Here is the breakdown pinpointing where did I go wrong

 

[suri112000]

You mark your failures, fine. But also comment on the better days too, just to even up the things. Make them in different colors. No point beating yourself.

All positive days are as per plan and execution.
The recent four weeks reflect that I am now not repeating the mistakes for majority of the time.
Repeating the same mistake again and again results in heavy losses.
A genuine day trader cannot do such mistakes otherwise he is doomed to loose a lot.

 

[Shiv12345]

Raj sir ... Hope you had a great weekend ... Are you ready for tomorrow's dhamaal?? New week ... New opportunities in BN .... Upcoming week shall decide if BN still has more than average fuel remaining ... Or will the recent rally fizzle out soon ... Surely a BIG gap up opening tomorrow morning .... However, since, BN Calls have over inflated premiums at the moment, its going to be interesting to see if writers can try to wipe out some extra froth from Calls .... Obviously, BN Puts are extremely cheaper at present, but given the recent bullish move, who is going to buy them ... Meanwhile, NIFTY 10500 level is the deciding level in the near term .... Can the momentum shift by Tuesday ... Or we are going to see 10700 levels soon .... Lets see ...

 

[Shiv12345]

EW analysis (Banknifty) for the ongoing EW cycle which began from 24781 approx on 22nd Feb 2018:-

FIRST PROBABILITY:-

End of wave 1= 25272 (it started from 24781 on 22nd Feb 2018)

End of wave 2 = 25191 (assuming an anomaly or aberration that this wave 2 had total length of 16.3% of wave 1 only. May I remind you that wave 2 should at least retrace by 20% but anomalies are always there)

Target for ongoing impulsive wave 3 = Target 1 should be 25681 (100% of wave 1) & Target 2 should be 25980 (161.8% of wave 1) though Target 2 is difficult to achieve. There are good chances that this trend may reverse from 25680 level itself.

STOP LOSS = 25272 (Because wave 4 cannot overlap any area of wave 1 as per EW rules). Please keep Trailing Stop Loss and keep locking profits.

I repeat, this upward journey won't be that easy since BN Option Calls have over inflated premium at the moment. Writers will try to control the CE premium from time to time. Best of Luck!!


SECOND PROBABILITY:-

Now the only thing that is bothering me in my analysis is the peculiar journey of assumed wave 2 (which apparently ended abruptly at 25191 on 23rd Feb) which has not even retraced by minimum 20% of wave 1. Normally, wave 2 shall retrace by minimum 20% or 50% or 61% or 78% or maximum 99.9%.

Hence, if in case we consider that wave 2 has not even formed yet, then that clearly means that currently, we are riding on impulsive wave 1 only which began from 24781 on 22nd Feb, 2018.

In this case, there are NO SET targets as wave 1 normally set its own course. Only sometimes, it is considered as equal to total length of impulse of previous EW cycle (though not necessarily).

If this scenario turns out to be true then better be PREPARED for wave 2 retracement as well (target anywhere between 20%, 50%, 61%, 78%, 99.9%).

But for this to happen, wave 1 has to end first. Keep watching!!

 

[Shiv12345]

EW analysis (Banknifty) for the ongoing EW cycle which began from 24781 approx on 22nd Feb 2018:-

End of wave 1= 25271 (it started from 24781)

End of wave 2 = 25191 (assuming an anomaly or aberration that this wave 2 had total length of 16.3% of wave 1 only. May I remind you that wave 2 should at least retrace by 20% but anomalies are always there)

Target for ongoing impulsive wave 3 = Target 1 should be 25681 (100% of wave 1) & Target 2 should be 25980 (161.8% of wave 1) though Target 2 is difficult to achieve. There are good chances that this trend may reverse from 25680 level itself.

STOP LOSS = 25271 (Because wave 4 cannot overlap any area of wave 1 as per EW rules). Please keep Trailing Stop Loss and keep locking profits.

I repeat, this upward journey won't be that easy since BN Option Calls have over inflated premium at the moment. Writers will try to control the CE premium from time to time. Best of Luck!!

Please note the following changes in above EW counts.

 

[simplebuthard]

Please note the following changes in above EW counts.

good analysis!! let see..

 

[Raj232]

Raj sir ... Hope you had a great weekend ... Are you ready for tomorrow's dhamaal?? New week ... New opportunities in BN .... Upcoming week shall decide if BN still has more than average fuel remaining ... Or will the recent rally fizzle out soon ... Surely a BIG gap up opening tomorrow morning .... However, since, BN Calls have over inflated premiums at the moment, its going to be interesting to see if writers can try to wipe out some extra froth from Calls .... Obviously, BN Puts are extremely cheaper at present, but given the recent bullish move, who is going to buy them ... Meanwhile, NIFTY 10500 level is the deciding level in the near term .... Can the momentum shift by Tuesday ... Or we are going to see 10700 levels soon .... Lets see ...

I'm not a Sir if referring to me.. .. can call me Raj .. Nifty and bankNifty will be positive for a while .. but my target for BNF is only 25.5 K or max 25600 .. i'm not expecting too much upside unless the PNB issues are reduced.

Thanks for posting calculations.. lets see how it goes..

 

[traderniftybull]

Raj bro
Which data you are looking at
We are already above 25K or to say 25.5K in BNF

 

[Raj232]

Raj bro
Which data you are looking at
We are already above 25K or to say 25.5K in BNF

I meant I'm not expecting more upside from here.. It might be flat and fall in 2nd half of the day.. Reason being that it fell from 25800 and has support of 24800. So 50% retracement being approx 25400 .. giving it room of another 100 points is 25,500.

Sorry I meant 25.5K to 25.6 K

 

[Shiv12345]

First scalping of the day done .... Traded BN 25300 PE (1st March) from 67.50 to 70.50 .....