Diary of a 315 Trader

[trade4putuval]

Hi Putuval,

pl share your views on icici bank....as per ichimoku

As per ichimoku, in weekly, price is inside the cloud. So there is some volatility in this stock, but if nifty is poised for downside, 990 is the price to watch as it is the bottom of the cloud. This will also act as double bottom in daily at 983.

In daily, tenken stands at 1052.5. This should act as a decision point for the stock to rise. So above 1053, we target the cloud bottom of 1111 (which happens to be the cloud bottom in daily, 50% Fibo level and weekly Kijun). The long range of the cloud bottom indicates stiff resistance.

I think ichimoku is of little help here. So we can trade based on the Fibo levels.

• 0% - 983
• 23.6% - 1043 (Stock managed to close below this level. )
• 38.2% - 1081
• 50.0% - 1111
• 61.8% - 1141
• 78.6% - 1184
• 100% - 1239

Sorry, if I could not be of much help to you.

 

[trade4putuval]

Hi t4p,

Analysis on INFY pl, in view of results.

Infy is one stock that puts the technical traders to shame with its record of breaking the technical levels. However hard you try to judge the direction of this stock, it surprises us when the results are declared.

From ichimoku point of view, in the past one year, it has a record of jumping from below the cloud to above the cloud or vice-versa. This time however, the stock was kind enough to stay within the cloud before the results. The daily cloud top stands at 2600. However the cloud top is very flat and long, that I feel this could be a resistance for the stock. But what if it does the same thing again of opening above this level! I am not sure!

But from monthly point of view, I feel like I am seeing a head and shoulder pattern. Check the chart below.

In addition, if you see, the candle managed to close above the monthly cloud bottom, which is very long and straight indicating a very good support.

So if you ask my opinion, I would say buy 2800 calls and hedge it with a small quantity of 2300 put because I am betting on the upside. In case, it goes against the trend, you stand to make a small loss instead of losing the complete money.

 

[trade4putuval]

Re: HCL Technologies

I was wondering where this stock is now headed after it broke all its previous highs. Well, I decided to make use of Fibonacci to trace the path using its previous levels.

I have marked each level with arrows and drew the Fibonacci levels that matched with the interim trend change.

I have represented each arrow with the Fibo levels where it stopped and changed direction. After constructing this level, I see 849 as the next level, where this price could go. Make use of this Fibo levels to go short or long. For example, if the price goes below 813, go short with the first target of 783, and so on.

I hope this will be helpful to you guys!!! :thumb:

Finally today's high as of CMP, is 849. So now you can go short at this level with tgt of 813. SL is your risk capacity because tomorrow is Infy results.

 

[trade4putuval]

Infy is one stock that puts the technical traders to shame with its record of breaking the technical levels. However hard you try to judge the direction of this stock, it surprises us when the results are declared.

From ichimoku point of view, in the past one year, it has a record of jumping from below the cloud to above the cloud or vice-versa. This time however, the stock was kind enough to stay within the cloud before the results. The daily cloud top stands at 2600. However the cloud top is very flat and long, that I feel this could be a resistance for the stock. But what if it does the same thing again of opening above this level! I am not sure!

But from monthly point of view, I feel like I am seeing a head and shoulder pattern. Check the chart below.

In addition, if you see, the candle managed to close above the monthly cloud bottom, which is very long and straight indicating a very good support.

So if you ask my opinion, I would say buy 2800 calls and hedge it with a small quantity of 2300 put because I am betting on the upside. In case, it goes against the trend, you stand to make a small loss instead of losing the complete money.

So as expected, it crossed 2800. Cheers!

 

[trade4putuval]

Re: HCL Technologies

Finally today's high as of CMP, is 849. So now you can go short at this level with tgt of 813. SL is your risk capacity because tomorrow is Infy results.

As expected, infy gave a thrust to HCL to break the level of 849 also. Now what! Let's see!

 

[bapu4]

Hello T4P !!
Kahan ho dear ?? Seems u r busy on job these dayz ??

-Vivek

 

[trade4putuval]

Hello T4P !!
Kahan ho dear ?? Seems u r busy on job these dayz ??

-Vivek

A small health issue! Recovering!!! Thanks for asking

 

[trade4putuval]

Go long in Tata Steel!

If 240 taken out, last stop is 229.Will provide analysis later!

 

[trade4putuval]

As per ichimoku, in weekly, price is inside the cloud. So there is some volatility in this stock, but if nifty is poised for downside, 990 is the price to watch as it is the bottom of the cloud. This will also act as double bottom in daily at 983.

In daily, tenken stands at 1052.5. This should act as a decision point for the stock to rise. So above 1053, we target the cloud bottom of 1111 (which happens to be the cloud bottom in daily, 50% Fibo level and weekly Kijun). The long range of the cloud bottom indicates stiff resistance.

I think ichimoku is of little help here. So we can trade based on the Fibo levels.

• 0% - 983
• 23.6% - 1043 (Stock managed to close below this level. )
• 38.2% - 1081
• 50.0% - 1111
• 61.8% - 1141
• 78.6% - 1184
• 100% - 1239

Sorry, if I could not be of much help to you.

So break of 1043 took the price to 983, but unfortunately that price also did not sustain, closing at 959.3. Now what! I look at the weekly charts for some indication.

Swing Low Break:
Check the blue rectangles. These are swing lows made in a bull run.

There is a concept in traderji, which my colleague had shared with me, i.e. Whenever a swing low or high is taken out with A VERY BIG CANDLE, then the target is the next swing low or high respectively. (I do not know the post, hence I am not able to share the link).

So if you see the rectangles, you can see where the price is aimed for next, the first swing low already broken by this week's candle.

Long candles decides trend:
Long candles after consolidation indicates the new trend in the direction of those candles. So as you see, the price went higher and higher. Now these candles can help decide the reversal point of the current falling trend.

If you check the arrows, we are very close to one of the candles. Now what do we make of this candle! The low or open of the candle should not be broken by the current trend if the current trend is not correct. So if the price manages to stay above the low or open of this LONG candle, then we can see a reversal. Keeping some point below this low as stop loss, one can go long as close as possible to the open.

Fibonacci Levels:
You can see the levels in weekly, and decide your positions accordingly :thumb:. But the other sections can also help you decide which levels should be considered. If you are a high risk trader, you can play all these levels and one of these levels will get you a big trade.

Ichimoku Cloud Step:
The cloud step determines the support or resistance of a trend. In this case, you can see the step around 875, which also happens to be a Fibo Level. This can be taken as a very strong support for the price. In other words, you can go long with multiple lots when price is in this range. But then there is a swing low at this level, so we should ensure that it is not a LONG CANDLE that will take the price near to this level (See section "Swing Low Break").

 

[trade4putuval]

Go long in Tata Steel!

If 240 taken out, last stop is 229.Will provide analysis later!

Revisiting the post of Tata steel. 240 taken out took the stock to 202.35 yesterday. Finally, I am able to see light at the end of the tunnel for this stock.

Check daily chart.

I drew the Fibo levels, and if you see the brown arrows, the levels were sustained along the downtrend. So we can be sure that these levels are a little accurate.
Secondly, we see a bullish engulfing pattern, which can be an indicator that a turn around has started.

So now what! Aim for the first level @ 254.