30M tracking of Supertrend in Nifty and Bank Nifty

[rkkarnani]

Right Umesh, Both Nifty and BankNifty are in Sell mode since 24th.

BankNifty : Signalled short on 24th @ 10,958
Nifty : Signalled short on 24th @ 6,186

Level of buy is known where the ST Indicator trails price. As of now :

Buy for Nifty, if price close above : 6,125 / Current price 6,085
Buy for BankNifty, if price close above : 10,800 / Current price 10,695

Price bar should close above the signal to buy. If the price reverts below the signal, it will be a short again. Supertrend will keep you in the trade, long or short.

Do revert for questions / clarifications. It helps to clear thinking and though process - Mine as well.

The 11 AM bar did close above 10800 ! So as per system are we not long on close of the 11 AM bar at ~ 10806 !

 

[DSM]

BankNifty Entry triggered @ 10,950 As a prudent measure I am considering 10 points for slippages. So our entry is at 10,960

Nifty Entry triggered @ 6,140. Will add 5 points to price as slippage. So our entry is at 6,145

 

[DSM]

Sir I have TradeTiger so am taking signals from there. We could have out guessed the system and considered bar close to be in the green, and taken a more favourable entry, but let's consider the most unfavorable scenario and then, inspite of it, the system should show enough profit to be considered tradable.

Will post charts later to make the entry/exit signals and bars clear and also to have a historical chart representation of entry and exit.

The 11 AM bar did close above 10800 ! So as per system are we not long on close of the 11 AM bar at ~ 10806 !

 

[DSM]

Sir I have TradeTiger so am taking signals from there. We could have out guessed the system and considered bar close to be in the green, and taken a more favourable entry, but let's consider the most unfavorable scenario and then, inspite of it, the system should show enough profit to be considered tradable.

Will post charts later to make the entry/exit signals and bars clear and also to have a historical chart representation of entry and exit.

 

[rkkarnani]

Sir I have TradeTiger so am taking signals from there. We could have out guessed the system and considered bar close to be in the green, and taken a more favourable entry, but let's consider the most unfavorable scenario and then, inspite of it, the system should show enough profit to be considered tradable.

Will post charts later to make the entry/exit signals and bars clear and also to have a historical chart representation of entry and exit.

DSM, I dont think we are guessing, or even trying to guess the "CLOSE" of the bar here. The 11 AM bar closed at 10806 ! As I dont use Supertrend hence dont know whether or not the close was above Supertrend or not. Going by the levels posted here, it seems 11 AM bar closed above Supertrend ! The close was ~10806 !

I agree what you suggest is worst case scenario and if we get profit in this scenario then surely it will be tradeable ! But why ignore this so obvious entry ! Do post a few line of your thought process regarding this.

 

[DSM]

Sir, Did recheck in TT. 11 AM Bar close shows at 10,805.75 Seems the FII guys are tracking this thread and did not want us to take an entry (Joking ofcourse) Will post the screen shot later

DSM, I dont think we are guessing, or even trying to guess the "CLOSE" of the bar here. The 11 AM bar closed at 10806 ! As I dont use Supertrend hence dont know whether or not the close was above Supertrend or not. Going by the levels posted here, it seems 11 AM bar closed above Supertrend ! The close was ~10806 !

I agree what you suggest is worst case scenario and if we get profit in this scenario then surely it will be tradeable ! But why ignore this so obvious entry ! Do post a few line of your thought process regarding this.

 

[umeshmandal]

Sir, Did recheck in TT. 11 AM Bar close shows at 10,805.75 Seems the FII guys are tracking this thread and did not want us to take an entry (Joking ofcourse) Will post the screen shot later

Would suggest you to include in your Excel, the max move made on entry on the first day ! We may include in our Trading Rules to exit at say 200/300 points move on day 1 for BNF and say 80/100 points in Nifty. If one is trading in multiple lots, may consider exiting partly.
Also, do we consider to enter NEXT month's Futures when trade is generated in the last week of derivative close ?

 

[rkkarnani]

Would suggest you to include in your Excel, the max move made on entry on the first day ! We may include in our Trading Rules to exit at say 200/300 points move on day 1 for BNF and say 80/100 points in Nifty. If one is trading in multiple lots, may consider exiting partly.
Also, do we consider to enter NEXT month's Futures when trade is generated in the last week of derivative close ?

Yes, this should be done ! An excellent advise. Maybe the Profits may be some what lower due to this but would make trading comfortable !
Today , BNF moved in our direction by 500 points ! Surely a partial or even Full booking of profits is advised at 500 points profit.

 

[DSM]

Thanks Umesh.... Good idea. We need to capture runaway profits. So will take up your suggestion to exit trade on a gap of 100 points in Nifty and 200 points in BankNifty. We will consider this to be a variation, and analyses in XL! So that the original system continues as is.

Also we need to frame rules for add. Any thoughts?

Next trade, we will take in next month futures. If the current trade is carried till the end of the contract, we will have to close this trade on expiry and take another trade in the next.

Thanks for your feedback.

Would suggest you to include in your Excel, the max move made on entry on the first day ! We may include in our Trading Rules to exit at say 200/300 points move on day 1 for BNF and say 80/100 points in Nifty. If one is trading in multiple lots, may consider exiting partly.
Also, do we consider to enter NEXT month's Futures when trade is generated in the last week of derivative close ?

 

[DSM]

Thanks RKK Sir. What are your ideas on adds and on exits.? If we exit, and the market moves another 500 points, we will be out of the trade without any position. Should entry be with 2 lots? In that case we can exit 1 lot with half our normal SL level? And the rules of exit of additional lot can be double the level of normal SL. For e.g SL can be 50/100 for adds, exit @ 100/200 adds. What are your thoughts on this.? Thanks for your feedback, much appreciated.

Yes, this should be done ! An excellent advise. Maybe the Profits may be some what lower due to this but would make trading comfortable !
Today , BNF moved in our direction by 500 points ! Surely a partial or even Full booking of profits is advised at 500 points profit.