Diary of a 315 Trader

[trade4putuval]

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.

TDST invalidated, because yesterday's level was 412.75. And TS closed at 414.95. So the downtrend got invalidated as per TDST. I have exited my position in loss. Will try re-entry at a higher level and based on some other parameters. Tenken is standing at 419. Will take position at that level.

 

[trade4putuval]

Nifty

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?

So cloud gave support.

• First resistance today is tenken, 6274.
• TDST is still valid. As per TDST, today's close should be below 6168.
• As per Bollinger worm (BW) in 1 hour, at the moment, we expect close outside the worm boundary. So this should be a good level to go short with target of 6168--.

 

[trade4putuval]

Re: 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,

Wow, that was a big move.

I personally saw the level 11137 which rushed to 11208. I had marked the high of 5 minutes at 9.20, which if violated to the upside would give a good returns to people going long. And it gave a good 300 points.:thumb:

Tenken stands at 11702. Should this be the point of entry?

TDST is still valid on Bank nifty, which will be further validated if close below 11367. So we need to see the 5 minutes low. If it is taken out, we should go short.

 

[trade4putuval]

Re: Nifty

So cloud gave support.

• First resistance today is tenken, 6274.
• TDST is still valid. As per TDST, today's close should be below 6168.
• As per Bollinger worm (BW) in 1 hour, at the moment, we expect close outside the worm boundary. So this should be a good level to go short with target of 6168--.

6263.75 high and closed below 6168.

 

[trade4putuval]

TDST invalidated, because yesterday's level was 412.75. And TS closed at 414.95. So the downtrend got invalidated as per TDST. I have exited my position in loss. Will try re-entry at a higher level and based on some other parameters. Tenken is standing at 419. Will take position at that level.

419.1 high and 411.1 close.

 

[bapu4]

Dear T4P,
Need ur views on aurobindo pharma !! looks a superb shorting candidate to me !!

 

[Grules]

i second your view

 

[trade4putuval]

Aurobindo Pharma

Dear T4P,
Need ur views on aurobindo pharma !! looks a superb shorting candidate to me !!

Two hanging mans and that too, getting rejected at the same price. It looks like a sure signal to go short.

• Kijun is flat, which means tenken will be touched, which is 342, this also happens to be the forward cloud top.
• For more support, I look at the weekly and I do not see anything. First is the possibility of a doji next week, or a return to the high followed by a deep fall to 350 levels.

A word of caution however, this stock has broke through all time high and is standing at a very higher position. Chances are that it will try to stick in that range for a longer time. There is no support in monthly. But what is the news? Delisting on the cards???

 

[trade4putuval]

Pharma stocks on a high


I read somewhere during my initial years in the trading field, that whenever there is some issue with the markets, the pharma stocks climbs to the high, because that is the safest place to park your funds, when you know that the market is running out of gas.

Any counter views?

 

[bapu4]

hi,
Regarding the news there are many,few of them,
1.they are acquiring a pharma co. in London.
2.Pfizer is interested to take over.
but no concrete news,the best thing to trade with technicals if clarity in techs is there other wise in spreading the rumors operator are expert.
GBU