30M tracking of Supertrend in Nifty and Bank Nifty

[DSM]

Reviewing charts, and came across Havells. Though we are not tracking it, it would be interesting to know how many traders would not book profit at high bar? Though the price moved below the signal bar, it closed 14 rupees above (Rs. 7,000 considering Havells lot size is 500)

Have seen momentum stocks breaking unbelievable highs, and moving higher still.... While tracking Nifty and BankNifty in real time, we will come across such situations and if we follow the trading decisions over the next 60 days, we will have a good insight as to how to handle such scenarios.

Chart of Havells attached.

 

[DSM]

One more chart study : This is of Natural Gas. Reason I am posting? We need to be familiar with the characteristic of the contract that we are trading. If we do this long enough, at a sub-conscious level we have an intuitive feel for it. Also, based upon our constant interaction and observation we gain insight as to its behavior and patterns. Am posting chart of Natural Gas - which though has nothing to do with the index scripts we are tracking, shows that for NG, we cannot trade the Supertrend system blindly. See the two CONTRA GAP OPENS. One is on the upside after a big downmove. The other, opens Gap down, after closing at the day's high.

What I am trying to say here is that besides the system and money management the mind is important - But only if the mind has spent enough time understanding and being faimiliar with the contract being traded, will it be in synch and in harmony with the underlying to take the best decision while trading it at any point of time.

My 2C

 

[umeshmandal]

Please update on BNF, my chart shows a trade reversal to Short !

 

[DSM]

Umesh, You have missed post no. 48. We closed long in BankNifty and entered short position yesterday before close.

[/QUOTE]
Bank Nifty Long Closed 11,240

Bank Nifty Short Triggered @ 11,240

Will update XL tracker later[/QUOTE]

Please update on BNF, my chart shows a trade reversal to Short !

 

[umeshmandal]

Umesh, You have missed post no. 48. We closed long in BankNifty and entered short position yesterday before close.

Bank Nifty Long Closed 11,240

Bank Nifty Short Triggered @ 11,240

Will update XL tracker later[/QUOTE][/QUOTE]

Thanks DSM, yes, I did miss the post. However my chart shows a close below ST 10,2 only today !
What was the Supertrend value in your chart at 2:30,3:00 AND 3:30 yesterday, please post whenever you get time, just want to check the values with my Supertrend values.

 

[Cubt]

Dsm,
Did 30m super trend gave signal to go short on nifty n bank nifty?

 

[DSM]

Though the system has signaled a short in BankNifty, personally think that correction should be shallow - upto 11,120 which will be the test of prev. pivot. BankNifty should more likely be sideways - as expected after a run up. We are however keeping our personal bias and opinion aside and trading mechanically.

Nifty SAR is 6,232 as per SuperTrend.

Umesh, You have missed post no. 48. We closed long in BankNifty and entered short position yesterday before close.

Bank Nifty Long Closed 11,240

Bank Nifty Short Triggered @ 11,240

Will update XL tracker later[/QUOTE][/QUOTE]

 

[DSM]

Yes Cubt,

Check post no. 49 - I have posted the chart, stating long is closed and we are short in BankNifty. The signal came in yesterday before close.
PS : If you have not got that signal on 30M - It could be due to chart timing. Mine is from Sharekhan's TT, and I follow it as a default.

Dsm,
Did 30m super trend gave signal to go short on nifty n bank nifty?

 

[Cubt]

Thanks man, for me Nifty SAR is 6230 as per 10M tf. Stil holding my long on Nifty.

 

[umeshmandal]

Though the system has signaled a short in BankNifty, personally think that correction should be shallow - upto 11,120 which will be the test of prev. pivot. BankNifty should more likely be sideways - as expected after a run up. We are however keeping our personal bias and opinion aside and trading mechanically.

Nifty SAR is 6,232 as per SuperTrend.


Bank Nifty Long Closed 11,240

Bank Nifty Short Triggered @ 11,240

Will update XL tracker later

[/QUOTE][/QUOTE]

In case we are taking a 10 point filter, do incorporate in the Exit and reverse levels in BNF while updating the Excel Sheet !

Also please post the Supertrend level for yesterday last 4 bars ! No hurry, even a post after market will do.