Daily Day Trading Ideas: Stocks and Options - Long and Short Strategies

#1
Hello Traders:

I am a trader from US with 3 years of experience in trading stocks and options.

This thread is to share ideas related to going long or short in stocks and options. I invite all traders to share their research and ideas in this single thread.

This thread would serve the purpose on an intraday chat room.

Monday will see a big gap down. So, focus on buying puts on NIFTY or shorting weak stocks. I am going to do a bit of research over the weekend to see which stocks to short.

Please share your ideas on what stocks would be good candidates to short currently.

PS: A request to mods - I see a lot of threads that are sticky at the top but have no active posts or closed. Please remove them and make this thread sticky.

Thanks
 
#3
I am still calibrating my intuition for the Indian markets but I am thinking like 30 to 50 points gap down on NIFTY. US markets sold off hard on Friday and the Indian market will digest that and gap down at the open. The selling should accelerate as the day progresses. I think we will see some more red on Tuesday as well and I would recommend against taking any long positions on Monday.

Here are some candidates to consider for shorting:

United Phosphorous LTD
Bata India
Reliance
DLF
GAIL India
Apollo tyres
ONGC LTD
King Fisher Airlines
BHEL
IRB Infra
Philips Carbon

These are based on the primary research and I will pick some from this list in the last minute and short. If you plan to short any of these, share that info and the rationale behind it.

Thanks.
 

rkkarnani

Well-Known Member
#4
I am still calibrating my intuition for the Indian markets but I am thinking like 30 to 50 points gap down on NIFTY. US markets sold off hard on Friday and the Indian market will digest that and gap down at the open. The selling should accelerate as the day progresses. I think we will see some more red on Tuesday as well and I would recommend against taking any long positions on Monday.

Here are some candidates to consider for shorting:

United Phosphorous LTD
Bata India
Reliance
DLF
GAIL India
Apollo tyres
ONGC LTD
King Fisher Airlines
BHEL
IRB Infra
Philips Carbon

These are based on the primary research and I will pick some from this list in the last minute and short. If you plan to short any of these, share that info and the rationale behind it.

Thanks.
BHEL future : At a glance does not seem to be a shorting candidate! May be a valid short only below 222.50 For intraday I prefer shorting it only below 227.50 or first 5 min low , whichever is lower.

Reliance fut.: This again can be shorted only below 793. For intraday I would prefer shorting it below 805 or first 5 minutes low, whichever is lower.

ONGC future is already in Short position, one can go long above 272 or first 5 minutes high.

Just my $0.02 !!! :D, I don't track other stocks mentioned.

My view on market for what it is worth : Nifty may open with a Gap down, but should not break the 9:30 low !
 
#6
SBI has resistance at 2300 rs and support at 1900 with a current price of 2150, which is close to the top and hence I would short it, given that over all market condition is bearish. It also depends on you time frame as well.

But why short a good company, I prefer to short weaker companies and long stronger companies to minimize the risk.
 

a1b1trader

Well-Known Member
#7
My view on market for what it is worth : Nifty may open with a Gap down, but should not break the 9:30 low !
You mean to say @ 9.30 will be low for tomorrow.
That means the market will move either sideways or upwards from 9.30 low.
Just hard to believe.
 
#8
A major portion of the move would come in the form of a gap down but I doubt 9:30 low would hold for rest of the day.

ONGC seems to have broken the support and a decent short still. I am playing equities only at the moment and prefer to focus on mid to small caps.

BHEL future : At a glance does not seem to be a shorting candidate! May be a valid short only below 222.50 For intraday I prefer shorting it only below 227.50 or first 5 min low , whichever is lower.

Reliance fut.: This again can be shorted only below 793. For intraday I would prefer shorting it below 805 or first 5 minutes low, whichever is lower.

ONGC future is already in Short position, one can go long above 272 or first 5 minutes high.

Just my $0.02 !!! :D, I don't track other stocks mentioned.

My view on market for what it is worth : Nifty may open with a Gap down, but should not break the 9:30 low !
 
#9
Thanks for the prompt response. I am a positional trader and i entered SBI at 1888. past 10 days i lost 10% of profit and thats why asked ur opinion since i dont want to lose remaining 14% profit. Also keeping the fingers crossed due to the result outcome on 9th Nov. I am still confused whether to book the profit before result or not.

SBI has resistance at 2300 rs and support at 1900 with a current price of 2150, which is close to the top and hence I would short it, given that over all market condition is bearish. It also depends on you time frame as well.

But why short a good company, I prefer to short weaker companies and long stronger companies to minimize the risk.
 
#10
I would recommend to book the profit and look elsewhere, 14% is a decent chunk and no point in giving it all up. You can find other stocks with much less risk. Besides, the markets are in a bearish mode and you have a high risk of losing. Just my opinion and I would do what I said here If I am in your shoes.


Thanks for the prompt response. I am a positional trader and i entered SBI at 1888. past 10 days i lost 10% of profit and thats why asked ur opinion since i dont want to lose remaining 14% profit. Also keeping the fingers crossed due to the result outcome on 9th Nov. I am still confused whether to book the profit before result or not.
 

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