Diary of a 315 Trader

trade4putuval

Well-Known Member


Be careful of going long in JP Associates.



Drawing Fibonacci from the level 106 to its low of 60, following were the levels.
  • 50 percent stands at 84.36. If you notice the price did come closer to 84 and retreated.
  • 78.6 percent stands at 71.45. This week, it came till this level after which it again retreated and yesterday it went out of the cloud.
So I am expecting this price to touch the low of 62 again to form a double bottom before going anywhere from here.

Having said this, please look at other indicators before you enter short and also keep a definite stoploss according to your capacity. Alternatively, wait and watch, and go long near 62 or above 72
 

trade4putuval

Well-Known Member
RCOM : Analysis





Fibonacci levels for RCOM shows interesting views.

  • RCOM made high of 100, fell till fibo levels, and then you know what happened next. (Check brown arrow). But then fibo levels got created after that. Till then we can say previous top got broken.
  • Then it came to 78.6%, broke the levels, but managed to close above it. It went closer to yesterday's levels. Tomorrow being expiry, I can see RCOM closing near this level only.
  • Now check the blue arrow. The forecasted arrow shows the trend of chikou span of ichimoku system, aiming to hit the price action. If you know, so long as chikou span stays above the price action, it is bullish. If it breaks through the price action, it is bearish. So we need to watch this closely. The day it breaks, the next target is shown by the blue arrow.
  • Third, check the RSI, it is already below 50.

Cheers!
 

trade4putuval

Well-Known Member
Kotak Mahindra Bank







Following are the strategies that makes Kotak Mahindra Bank a reliable short trade.
  • Ichimoku: Chikou span has a support as represented by the brown line at 767.
  • Market Correction Strategy: Every stock has to touch 15ema by the 6th week. The stock touched 15ema on 16th April 2013. 15ema as of today is 767
  • Fibonacci Levels: 78.6% of the current wave is 767.

Do I need to say anything more!!! Cheers! :thumb:
 
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trade4putuval

Well-Known Member
Re: Kotak Mahindra Bank







Following are the strategies that makes Kotak Mahindra Bank a reliable short trade.
  • Ichimoku: Chikou span has a support as represented by the brown line at 767.
  • Market Correction Strategy: Every stock has to touch 15ema by the 6th week. The stock touched 15ema on 16th April 2013. 15ema as of today is 767
  • Fibonacci Levels: 78.6% of the current wave is 767.

Do I need to say anything more!!! Cheers! :thumb:
Wow! Made a cool 10 Rs profit with 4 lots!

But the game is still on! 15ema is 769, so at the moment, SMC is going to rock this stock. But either way, the price will come to 767 anytime :) due to Fibo levels.

Waiting to re-enter at higher levels again targeting 767!:thumb:
 

trade4putuval

Well-Known Member
Dlf



This is one stock that got battered a lot in the past few days. Check the chart below.



I am of the opinion that this stock has found its bottom at 194 or will find its bottom at 188. Continue reading...
  • Check the green arrow. This is the low of the 9 months, having touched 185 a year back. But the current fall has been so continuous, that I doubt if it will continue its fall another 10 points, but anything is possible.
  • Check the purple arrow. This is a very long ichimoku step indicating strong support to the current price.
  • Now check the fibo levels considering the above second point that the price has found the bottom at 193. If you notice 61.8% level, there was a consolidation for a longer period, between 38.2% and 61.8%. So we now have a resistance at 61.8%. For now,we focus on 78.6% as the first target, i.e. 213.
  • Notice the 50 SMA (Black line). The way it is coming down, we see the price touching 50 SMA at 61.8% fibo levels. (As most of you must be knowing, 50 SMA is an indicator of bullishness or bearishness in a stock. The price above 50 SMA is bullish, while below it is bearishness.) So if the current trend of DLF is bearishness, the price rise will be arrested at 50 SMA, from where it could revert. Well it depends on the global market situation at that moment.
  • Ichimoku Forward cloud is between 228 and 245. So that is the range where the price should be moving to. So we could see 228 where the cloud will form a tough resistance for the price to move up.

Summing up all the above points, 230 is now a very tough resistance for DLF, but a possible target to achieve considering the fibo levels. However, this depends on whether 188 will be taken out.

Disclaimer: I am long 2 lots at 199.15 (Future price).
 

NANDAMAD

Well-Known Member
Hello namaste,

wel come back. Your participation cheers me trade . But I am unable to open ur images in usual size. can u throw some light on it
 

trade4putuval

Well-Known Member
Hello namaste,

wel come back. Your participation cheers me trade . But I am unable to open ur images in usual size. can u throw some light on it
No idea! I clicked in google chrome and it expanded!
 

NANDAMAD

Well-Known Member
Humble request,

Images upload on i.imgur.com seem to be giving problems while opening or dont open at all . I understand that some of you may not be facing this issue. i Would
really appreciate if you could upload images to sites such as photobucket.com, tinypic.com, imgbox.com as these sites seem to be always online and more easily accessible .
 

trade4putuval

Well-Known Member
Re: Kotak Mahindra Bank

Wow! Made a cool 10 Rs profit with 4 lots!

But the game is still on! 15ema is 769, so at the moment, SMC is going to rock this stock. But either way, the price will come to 767 anytime :) due to Fibo levels.

Waiting to re-enter at higher levels again targeting 767!:thumb:


Kotak target achieved! SH Market Correction Strategy rocks! :clap:
 

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