NooBs Trading Step into Wild Market

[frisky]

Hello all,

Result for 20-Dec-16

Watchlist created on 19-Dec-16 as follows

And WLR is improving, with the shortlisting variables reduced and trying to make it more simpler, strict and effective with MTF analysis as well.

That being said, I was keenly looking for STAR SHORT trades today as that was the best of all scrips that I shortlisted. And it turned out good,

15M chart

Trade taken on 1M chart

Trailed the SL. Was a good move.

 

[frisky]

21-Dec-16,

Watchlist was

Was looking into ACC and ULTRATECH on the opening bell, those were rocketing initially for 5M only. Was waiting a pullback, and took a trade, led to a LOSS.

Further had no confidence in taking the trade further on LONG side. ENGINEERS INDIA did a good job though, but didn't take any trade.

Will see further for tomorrow's market. I think TITAN can have some moves tomorrow. have to wait and see..

 

[frisky]

Hello,

22-Dec-16

Watchlist was :

Morning trade was BEML Long , trailing for 20MA

 

[frisky]

Hello all,

Was on a big testing phase , hence couldn't show up or update.

Analysis on 8-Mar-17

BRITANNIA - High volume bar on support, If price goes above HIGH - Its a BUY

GAIL - High volume on resistance - Institutional profit booking or distribution phase - Needs to break the low

 

[frisky]

Hello all,

Was on a big testing phase , hence couldn't show up or update.

Analysis on 8-Mar-17

BRITANNIA - High volume bar on support, If price goes above HIGH - Its a BUY


GAIL - High volume on resistance - Institutional profit booking or distribution phase - Needs to break the low

Update - 9-Mar-17


BRITANNIA - Still support held, forming an INSIDE BAR , need to wait for break of high of inside bar.

GAIL - It did go down

 

[frisky]

Stock Analysis for 9-Mar-17

PIDILITIND - Support held with good volume, can go long with break of high of the candle.

 

[rjshem]

Tavnaz,

Thank you for the wonderful IN's and OUT's of the market along with the detailed explanation of where I should be strong. I shall take into account of what you said.

So far, what I am doing is just the NEXT DAY BIAS element factor alone, whether the market moves against my analysis or in favor. AGREED upon the small time frame factor. But taking the trade is upto my mind and that should happen if my analysis is moving in my favor or else neglect that stock for the day completely. And I haven't yet provided my trade plan for next day though, which is under progress.

Will definitely agree upon keeping things simple. Will strive to work upon it.

TradeOptions,

Volume - analysis is based upon looking into the Volume bars, compare it with previous 5-7 days. If high volume occurs at Support or Resistance, someone is doing something to the stock, which obviously is to look upon.

S/R - Just reading charts

Remarks - These are something,of what I infer when I see the chart and my expectation for tomorrow, which may or maynot happen. It is purely subjective alone.

Inference - Post market analysis, where I went wrong/correct. Subjective

Stock Selection - Going through all the F&O stocks, not fixed with any particular stock. I feel that, giving many chart hours trying to understand the psychology is what I intend to learn and evolve.

My stock selection goes with the follow steps.

Before that, let me show my standard template of how I analyze

Template consists of

- 200 SMA
- 20 SMA
- Ichi Cloud alone
- Volume bars
( I don't trade with indicators, only price action)

This is just example that I would like to give out. I look for patterns evolving at any of the following : S/R, Ichi Cloud, 200MA,20MA, UB , LB

So in the above example, you can see a formation of Shooting star on 15-Dec-16 which is meeting criteria as

- At Resistance
- Having High volume
- Series of Blue bars , meaning at some point buyers should get exhausted.
- Outside Bollinger Band

So obviously my bias for the next day (16-Dec-16) would be to go SHORT and I might add on the remarks as in " EXPECT A GAP DOWN or Go SHORT".

Well apparently, it went UP next day, my bias was wrong. But still, the factor that I am reading here is BUYERS are not that much considering the Volume following day and the are getting exhausted and it is inside this shooting star candle. Still my BIAS is SHORT, at least, it needs to go one candle RED.

So I would take the trade, when the low of the candle is broken, that is another chapter for me.

This is what I do over and over for all 178 Scrips in F&O and I record whichever gives me a trigger. And it is not much of a work load, I just got used to it.

It takes like 1 hour to go through all the stocks. I like doing this very much, and I enjoy it.

: )

Excellent way of picking stocks for next day and how and where to get in wonderful analysis :clapping:

 

[rjshem]

Update - 9-Mar-17


BRITANNIA - Still support held, forming an INSIDE BAR , need to wait for break of high of inside bar.

GAIL - It did go down

Britannia good move today.:thumb:

 

[frisky]

Updates for previous stocks

BRITANNIA - Started to go up- Support held , Inside bar broke out with good momentum.

GAIL - Actually, it cant be traded as per trading rules, as the stock is still in uptrend, so better to wait for pullback, but stock has gaped down though.

PIDILITIND - Gapped up and faded , still bullish view on it

 

[frisky]

Stock Analysis for 10-Mar-17

BATAINDIA - Formation of high volume candle with good solid green bar at resistance - Along with Ascending triangle pattern, need further confirmation which can probably break out to upside

HINDUNILVR - Potential break out candle the following day candle , above High is BUY