RAJ MTP Trading diary based on RENKO FLOW Pivot Strategy

[healthraj]

Hi,

This thread is to post the calls generated from Excel tool based on the RENKO FLOW Strategy. All the calls would be in SPOT price. I will try to post the calls during market hours. Otherwise i will post end of Day.

 

[healthraj]

Today there is 1% GAP UP in NIFTY. No pivots formed Yet in NIFTY or BANKNIFTY. We will wait for a pullback to enter the trade. Even though the outlook seems to be VERY BULLISH, need not rush to enter the trade.

 

[healthraj]

07-Sep-2012 9:40 AM

 

[healthraj]

07-Sep-2012 9:40 AM

Please note the Resistance levels, These are the high made today. If it goes above the Resistance then you can go LONG, Otherwise please wait...

 

[healthraj]

Please note the Resistance levels, These are the high made today. If it goes above the Resistance then you can go LONG, Otherwise please wait...

Made two attempts to cross today's high of 5324... Down once again to 5321.. So wait till NIFTY crosses 5324 convincingly and you would be able to get at least 25 points... SBIN also I think would good to trade above 1892... ICICIbank above 931. Better to avoid INFY today

 

[healthraj]

Made two attempts to cross today's high of 5324... Down once again to 5321.. So wait till NIFTY crosses 5324 convincingly and you would be able to get at least 25 points... SBIN also I think would good to trade above 1892... ICICIbank above 931. Better to avoid INFY today

LONG call triggered above 1892 in SBIN
LONG Call triggerd in NIFTY above 5324

 

[healthraj]

LONG call triggered above 1892 in SBIN
LONG Call triggerd in NIFTY above 5324

NIFTY and BANKNIFTY had become FLAT after triggering LONG call now because 10 min TF is SHORT... and 30 min TF is still LONG. So do not take any Fresh positions now...

 

[healthraj]

07-Sep-2012 9:40 AM

07-Sep-12 12 NOON

So Fresh longs for NIFTY only above 5334 and BANKNIFTY above 10104.

Today only one pivot formed in NIFTY and BANKNIFTY.

When there is a 1% GAPUP, it is normally very difficult to trade. Let us see if Europe Changes anything...

 

[healthraj]

RENKO FLOW Chart at 12 Noon

In NIFTY the Call is setup now

BUY ABOVE 5334.4 and SELL BELOW 5316.8
In BANKNIFTY the Pivot is set only on the Long side... BUY ABOVE 10104

See the charts below

 

[prabhsingh]

NIFTY and BANKNIFTY had become FLAT after triggering LONG call now because 10 min TF is SHORT... and 30 min TF is still LONG. So do not take any Fresh positions now...

Raj,

If 30 min TF is still LONG then dont you think 10 min TF SHORT has given an opportunity to enter on LONG side?