DLN calls

#1
Hello Everyone,

I intend to post here recommendations gained from TA of xxxxxxxx and my own observations. Prices are spot unless otherwise mentioned. My trading universe consists of FnO stocks mainly so shorting positions may be carried over to expiry.

Nifty has given Bullish Harami (H) and Harami Cross (HX) candles yesterday with 4952 being major resistance. So it is prudent to look for shorting trades when it is near that level. The stocks with SS (Strong Sell) calls are:

ultracemco(h hx), gtoffshore(hx), albk(h hx hmr),
ioc (trend still +ve so avoid),
bhusanstl, dishtv, acc, bankindia, hdil, sail
chennpetro(3bc), (3 black crows - hammered for 3 days so avoid)
reliance(h), suzlon(h), gvkpil(h hx), ifci(h hx), m&m(h hx)

Since most stocks have bullish candles, I'd wait until they reach first Resistance levels along with Nifty hitting 4952 or thereabouts.

e.g. Short SAIL around 200 with stoploss just beyond R1 which is 202.4.

I'd love to hear from other DLN members here.

Paresh

 
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rkkarnani

Well-Known Member
#2
Hello, Am a novice as far as TA is concerned. So treat my query accordingly.
Why do you call yesterdays Candle as Bullish Harami? My knowledge for what it is worth tells me it is not a Harami Candle!! I may be wrong as I am checking Nifty Futures chart. Dont have Spot chart.
 
#3
You are right about Nifty Futures. But if you can check Nifty Spot you will see Bullish Harami (BL H) candle. The entire green candle is contained within the red candle of the previous day. But as you know BL H candles need confirmation of the next candle to confirm reversal of the trend.

Since Nifty has not crossed 5000 or even 4980 yet as I write this, I feel the downtrend is intact. And if it is so, the shorts are valid.

Btw, since I get my candle readings automatically done, I don't bother to read EOD charts. I read only live charts. Hope this helps.
 
#4
Maybe I spoke just a bit too soon.:)

Nifty hit 4983.65 high. But SAIL (June) did hit 200.15 and reversed to 197.20. Right now it is at 198.30. It is quite volatile being expiry day and all, but hopefully it will follow our script.
 

rkkarnani

Well-Known Member
#5
You are right about Nifty Futures. But if you can check Nifty Spot you will see Bullish Harami (BL H) candle. The entire green candle is contained within the red candle of the previous day. But as you know BL H candles need confirmation of the next candle to confirm reversal of the trend.

Since Nifty has not crossed 5000 or even 4980 yet as I write this, I feel the downtrend is intact. And if it is so, the shorts are valid.

Btw, since I get my candle readings automatically done, I don't bother to read EOD charts. I read only live charts. Hope this helps.
Yes it did indeed help. Thanks for clarifying. Reading live charts is okay but the same are dynamic and prone to change with incoming levels if they make new high or low. Whether a Harami is formed or not has to be decided on close only.
 
#6
Is it a subtle way of advertising the DLN? In your other post you mentioned something about Trials from DLN, but they do not offer any?
Hello ccmb420,
I have been a member of DLN for many years. It is my humble opinion that it needs some experience making money out of the mess of numbers we face everyday, and sites like DLN address that issue in our favour. It is also my experience that many DLN members do not manage to read its calls correctly. So I thought I'd share my experience with serious traders. There are other people here blatantly advertising their wares - now that's what I'd call "advertising." My posts here are meant to learn from each other. Btw, I have no share in DLN company FYI.

If you are a member you'd hear about some special trials they will have soon as I have some inside knowledge. If you're not, then you can watch this thread for announcement on when it becomes available.

About the markets today, I'd still look for shorting opportunities until spot Nifty manages to stay above 5050 till afternoon. There are too many to mention but TECHM is my Stock Du Jour for shorting. Right now it is trading at R1 which is 634. With a stoploss at 640, one can short this one.

Others to study for short are: BANKINDIA (perennial short :),
SESAGOA & HINDALCO - both showing technical strength but still -ve trend
JINDALSTEL & JINDALSAW - again metal stocks but indicating poss. breakdwn

There's more but market only +ve if Nifty closes above 5100. Later...
Paresh

TTML, PTC, DLF etc.
 
#7
Like I said before, the numbers tell a story but we should know when to enter and exit. Obviously, I have been too eager to call shorts and both SAIL and TECHM ran away upwards. The moneybags look for opportunities like this to pull up shorts even though the stock trend remains -ve.

That said, DLN FnO space remains largely +ve for short term now with 60 SB (strong buy) calls out of about 180 stocks. But even with great GDP numbers, Chinese Premier warned of a possible second global downturn likely with stress in sovereign debts. So one has to take everything with a pinch of salt.

Better that I stay away from trading for a couple of days. FEDERAL BANK Breakout call is for 375. Happy Trading, guys.

Paresh
 
#8
Hello everyone,
I don't know how the guys who manage to post here during trading hours can do it, but I find it very distracting and time consuming to jump in here and write. So hats off to those guys who can find time to share their knowledge with us.

Today at 5050 (Nifty spot R1) was perfect time to go short on a number of shares. Every one of them gave me money - TATAMOTORS, JPASSOCIAT, and BANKINDIA. All of them are in SS mode at DLN which is why it was a no-brainer. I love when the markets follow technical trends. Please note that I share this to learn how to make sense of DLN calls not to toot my horn.

TATASTEEL was the only exception where one could go long. I lucked out there. Again this was a no-brainer when it crossed 460 today that was higher than yesterday's ATP and still in DLN Buy mode. But now it is a SS with a bullish candle. So, today's bullish candle may take it to 466 (past two day's highs) or beyond to R1/R2 at 469.4/475.7. Euro money coming in the market has buoyed up commodities so it can whipsaw from SS to SB mode. So watch this one carefully.

TECHM (CMP: 701.45) is showing a lot of strength even though DLN call for tomorrow is SS. But because of bullish candles formed today I expect it to spurt higher to 721 levels once it crosses today's ATP of 706.85 or 707. R1/R2 is 711.3/ 721.15.

Nifty levels to watch tomorrow are 5040, 5050 and 5080. Happy trading.
Paresh
 
#9
As of right now (10:00AM), the Nifty discount has narrowed to almost nothing that speaks volumes about impending bullishness.

TECHM has crossed our first barrier of 707 and is managing to stay above which means it's headed to higher levels mentioned before.

TATASTEEL is also holding strong, and buy calls emerging everywhere.

So best thing to do is to keep raising the stoploss in both cases till the market turns a bit soft.
 

rkkarnani

Well-Known Member
#10
As of right now (10:00AM), the Nifty discount has narrowed to almost nothing that speaks volumes about impending bullishness.

TECHM has crossed our first barrier of 707 and is managing to stay above which means it's headed to higher levels mentioned before.

TATASTEEL is also holding strong, and buy calls emerging everywhere.

So best thing to do is to keep raising the stoploss in both cases till the market turns a bit soft.
Partial narrowing must be the effect of a few Nifty stocks going Ex Dividend!
 

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