Sridhar's Trading Dairy

[sridhga]

Painful stagnation at 117 for pretty much the whole day until now.



Cheers
AK

Yes, I got impacted by it badly and exited my 2nd lot with not so great profit.

 

[sridhga]

BEL: Low volumes and Reduction in Futures OI with an increase in price is not convincing. Traders exited on Friday at least on this counter. It appears that there is no confidence in this scrip.

 

[sridhga]

Tata Elxsi: Just moving up because of USD strength. Was range bound for several days between 1425 and 1450. Today, USD is down to 69.84. Will Elxsi take a hit? Asian markets are mixed. I may trade if Elxsi shows any weakness. Let us watch.

 

[sridhga]

BEL did move up on friday. But it was weak. Will observe. If buying is emerging, will go long. Else will wait on sidelines.

 

[sridhga]

Barring Japan which is marginally in the red all of Asia and OZ is in green. SGX Nifty indicates green. Most likely BEL will move into green today despite low volumes on Friday.

 

[arunkarthik]

Barring Japan which is marginally in the red all of Asia and OZ is in green. SGX Nifty indicates green. Most likely BEL will move into green today despite low volumes on Friday.

Today is ex-div. so pls trade accordingly.



Cheers
AK

 

[sridhga]

Product Instrument__________ P&L
MIS BEL18AUGFUT __________ +3960
BO TATAELXSI18AUGFUT ____ +5280

Total________________________ + 9240

Trans Chgs (2 Lots) _________ -450

Balance____________________ + 8790

 

[sridhga]

BEL is appearing weak. I already made money by making a long trade on BEL and Short trade on Elxsi. Now, I will just observe.

I still think BEL weakness is just a pullback (temporary).

 

[sridhga]

BEL did move up yesterday but not very significantly. Ex-dividend factors could also have played a role. But, in that case, shouldn't volumes go up? Now, we notice that volumes are coming down to 30 Lakh levels, which matches the daily averages, before the result expectation mania started. Large investor buying is not visible any more. Today much of Asia and Aussie markets are trading in the red (or mixed, maybe). I cannot seem to take a guess about BEL. I will wait and watch the opening.

 

[sridhga]

Elxsi: USD has fallen further yesterday. SGX nifty is in the negative territory. I expect Elxsi downslide to continue further for today. I may trade shorting Elxsi.