Diary of a 315 Trader

[bapu4]

HI T4P,
I sold the put @.55 today better something than nothing.
GBU
RGDS

 

[trade4putuval]

Re: Tata Steel (Short)

Check my messages in purple.
I am still favoured for downside, but my reason is not strong enough. I am looking at daily and weekly RSI and all are overbought. Plus 30 mins looks very overbought. So unless the 30 mins cools down, I favour downside.

Finally got a reason to stay in my positions. Tata steel has been on the rise since Friday. But the open interest was -5% on Friday and it became -13% yesterday. Targeting 380 for this expiry.

 

[trade4putuval]

Re: Tata Steel (Short)

Finally got a reason to stay in my positions. Tata steel has been on the rise since Friday. But the open interest was -5% on Friday and it became -13% yesterday. Targeting 380 for this expiry.

Alternatively I see yesterday's Columbus post and find my assumption wrong. During expiry, the current month OI will not reflect the correct data.

So I checked next month's future and found the OI to be positive and hence I cancel my above statement.

Let's see.

 

[trade4putuval]

Re: TS (short)


Expiry has cut down my target.

But if you look at the weekly charts of TS, you can see

• RSI is extremely overbought
• Cloud top seems to be an ideal target for this expiry.

I am vouching for 375 expiry close. But in daily, there is chikou level at 383. I am not able to decide whether to exit at 383 or 375.

Looking at today's nifty, bearish signal has been given by SST strategy towards EOD. So if nifty targets 100ema, i.e. 5950 tomorrow, TS can reach 375 easily.

Another point worth noting. TS has not touched 15ema in the past 4 weeks. Tomorrow the 5th week starts. So will TS touch 15ema this week and invalidate the SMC for the next week?

Let's see.:fatigue:

 

[bapu4]

Hi T4P,
If u want to get the realistic idea of TS OI then u see the total OI of NOV and DEC series from 20th NOV and see how it is changing ,then u will get realistic picture of TS OI (whether it is reducing or increasing etc ) !

GBU !
Rgds !

 

[bapu4]

Good Morning sir !!

 

[trade4putuval]

Good Morning sir !!

Well, I traded TS based on SMC, and exited partially. The overall trade portfolio of TS in my previous month and current month is still in negative. Yesterday SMC got validated.

Of late, I have shown some interest in TDST. With the help of one colleague, I am studying the same.

So my analysis on TS and if and only if Nifty supports the trend,

• Based on TDST as per today, we are in the down trend. But as per TDST, we have a stop loss at 418.25. This means even if TS manages to rise today, it will not close above 418.25 to support the down trend.
• Based on your post in WW, we have a target of 305.
• Based on ichimoku, we have a chikou span at 351.

Let's see.

 

[bapu4]

Hi T4P,
good that you are studying TDST,I tried but failed it is confusing I always get confused on the candle no 1,secondly like WW there are no pin point specic entry lvls,thirdly the S/ls are generally far off,one cant stand those,but I am sure you will come up with precision in its execution .All the best for you.
Pl let me know if your colleague (TDST) has done some wonder full trades,I would love to appreciate the same.
GBU

 

[trade4putuval]

Taper: what is gonna happen today???

I found this link to understand tapering, http://www.washingtonpost.com/blogs...-this-week-heres-everything-you-need-to-know/

God bless Sensex/Nifty. We are at the edge.

• Ichimoku-wise, we are sitting on a big cloud top with a good thickness, that indicates strong resistance to the price entry into the cloud. Any hint of entering into the cloud, there is no hope for 6500.
• 315 wise, 3 has crossed below 15 indicating another crossover in the range of crossovers after the 800 point move given by Nifty. Refer SH's thread for details. Is this crossover false again??

If i remember clearly, some of the Gurus had predicted the nifty range of 5470 - 6475 and some had solid proofs that nifty will end the year 2013 at 6470. Looking at the cloud top, will we see 6470 towards expiry?

 

[trade4putuval]

Bank Nifty

Is Bank nifty ready for a bounce?

It is standing at an important level that has been a resistance till some months back. Check this chart,