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

[philosuffer]

Did not trade anything this morning, just watched and stayed away.

The market conditions are bearish and when I tried to short intraday, HDFC notified that no intraday trading is allowed today. I guess, they want the market to go up for Diwali.

I thought fine, then tried to take short position in Pantaloon Retail at 199.9 interday (delivery) but seems I have only cash account at the moment and cant short.

When the markets open next time, there will be a selloff and I dont want to take a position to the long side with delivery. So, I did not trade.

United Spirits did not show much movement today. It probably wants to go up but world markets are showing bearish tone and hard to go against the tide. Will be watching it closely next time. 34% move is exponential and there will be an opportunity to profit from the fall but timing is the key.

 

[trade4putuval]

Did not trade anything this morning, just watched and stayed away.

The market conditions are bearish and when I tried to short intraday, HDFC notified that no intraday trading is allowed today. I guess, they want the market to go up for Diwali.

I thought fine, then tried to take short position in Pantaloon Retail at 199.9 interday (delivery) but seems I have only cash account at the moment and cant short.

Hi, please make sure that you are trading in futures that are highly liquid. I received a mail once from my friend with a list of stocks that will be or has been removed from the derivative list. You could have traded in one such stock future, otherwise how can the market stop a trader from trading intraday, whether it is Diwali or not? I guess it could have been the work of the brokerage firm!

I am in an IT firm where all stock based websites has been blocked, so it will be very difficult for me to post the intraday potential trades in traderji.

I make use of google/finance to check the markets, since I assume that they do not want to block google websites. , touchwood, do not want this website to get blocked too!!!!:lol:

 

[trade4putuval]

United Spirits did not show much movement today. It probably wants to go up but world markets are showing bearish tone and hard to go against the tide. Will be watching it closely next time. 34% move is exponential and there will be an opportunity to profit from the fall but timing is the key.

This will be a similar situation like Patni. Patni's deal with IGate was finalized at 420 per share (ignore the price, I do not remember the exact price!). Patni went all the way till 500 and believe me, it was there for a long time, and when it did come down, it stayed above 450.

United Spirits story is the same. The deal price is around 1400, and the stock price is near 1800. I am not sure when it will come down or whether it will go up!

 

[philosuffer]

Thanks Trade4 for the suggestions. I am not trading futures at the moment but trading regular equities only.

To short sell a stock interday, one needs a margin account thats why I could not short as I have cash account. Intraday, I can short a stock with own money but I tried to use 3x leverage and they banned using 3x leverage intraday on Diwali, as it is their money.

Too bad that you have restrictions at work on what sites you can use. I am opening account with Interactive Brokers who has very advanced platform and looking forward to trading futures and options.

You may be right with United Spirits going up and staying, so I will be careful playing it to the short side. Anyone should be careful with shorting a stock that went up 34% in just one day as there may be some fuel left for the rally. 2200 is the resistance line and I would be more comfortable shorting it, if it touches 2200 and shows weakness.

 

[philosuffer]

US markets dropped 180 points today and in fact, broke the support level of 136 on SPY. This is where I was expecting a bounce.

It looks like the markets are pretty bearish and new lows are in cards. My game plan today is to short the stocks. Specifically, I may take shorts in :

HDIL
Pantaloon Retail
United Spirits
Karnataka Bank

Happy trading!

 

[mravi]

I hope You booked profit on time. Or holding positions?

 

[philosuffer]

I trade intraday only, no overnight positions. I am expecting a dead cat bounce today, so planning to play the long side.

Auropharma
United spirits (long first for a target above 1940) then may short this close to 2100
Karnataka Bank
HDIL

 

[philosuffer]

Auropharma up 5%

 

[philosuffer]

Well, I played United Spirits to the long and short side as planned but the targets were off. Went long at 1810 and exited at 1853.

Shorted it at 1855, had a stop loss and went to bed. The position was liquidated by broker at the close at 1790.

The markets were green when I went to bed but looks like it sold off heavily in the later part of the day. This was to be expected when a dead cat bounce happens, after all the cat is dead to really bounce.

 

[philosuffer]

I am thinking today's market may swings between gains and losses, could not feel a direction today.

After tanking on Friday, they are due for a bounce and US markets kind of hid the bottom and bouncing. However, the overall trend is down and Indian markets are lagging in following US market trend, and hence some more downtrend can be expected.

One has to play based on the momentum today.

My game plan today is to play United Spirits. If it drops in the first 10 minutes, I will long it from there and if it goes up in the first 10 minutes, I will short it at the peak. I am expecting a reversal from the first 10 minutes position.