Diary of a 315 Trader

trade4putuval

Well-Known Member
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

If you remember, this has happend with Piramal health care too last year. The price sky rocketed from 200s to 500s and it never came down from that level. This happened with Patni also.

So these technicals will be helpful to investors. But for short term traders, the price trading in a range is a killer.
 

bapu4

Well-Known Member
Hi,
Another interesting observation in SSLT ,The OI of jan series is more than 250% that of Dec so it seems SSLT is poised for a big move up or down if the oi Continues in this fashion.
In this series it may come down to 195 and then 190 and from there somewhere in 1-2 nd week of jan series it will start its big move up or down!
 

bapu4

Well-Known Member
Hi,
Pl. Ignore the above message the scenario has normalised and nothing striking now.How ever price should come down as stated.:D
 

trade4putuval

Well-Known Member
Tata Steel

Tata steel looks poised to reach the last swing high of 440, also qualifying it for a double top in daily.

My views below:

Check Daily Charts

I do not know what pattern to describe here. But if you look at the price reaction historically, you can see a pattern getting formed here.
The ultimate Chikou Span as shown by red rectangle will form the final resistance to the price rise of Tata steel. If you look at the purple arrow, it represents the price traced after the chikou span peaked. The similar action can be experienced in TS after the high is reached. Of course, there is a forward cloud resistance near 410. We will look at this if at all the price touches 440.

Check Weekly Charts

There is a level where most of the price action consolidated or got reversed. This has the same price range as mentioned in the daily charts.
Looking at the weekly RSI and final resistance by daily chikou, the red arrow determines the trend of the TS after it hits 440.

Check Monthly Charts

We got two days for this month to end. You can see the blue rectangles that shows the area of consolidation or reversal. Again, 440 is the level we are approaching in the monthly charts. Tenken in monthly will then be the level to watch for in monthly if the fall starts from 440.

In small timeframes,
30 mins:
Bounce from 100EMA in 30 mins on 24th Dec.
SST is bullish with this 100EMA touch as the bull SAR (416.35) and 423.3 as TSL.

5 mins:
Price rise got rejected at 425.9, the dotted line of 27th Dec.
423.8 is the low of the candle that broke out of the 5 minutes consolidation (1400 hours to 1505 hours). So this is a SL.

So we respect the level 423 and 416 before deciding whether to go long. We can go long with extreme small quantity if price opens near 425, and build up if 426 is broken. On the reverse, we wait till price reach 416 or when the price cross 423 again from the bottom of that day.
 

a1b1trader

Well-Known Member
Yes, T4P
Thanks for your elaborated analysis.
I agree with you

What I think, according to my analysis (though not on the basis of Ichimoku, but some other pattern)
First target 436 and then 445 or so.
 

a1b1trader

Well-Known Member
Yes, T4P
Thanks for your elaborated analysis.
I agree with you

What I think, according to my analysis (though not on the basis of Ichimoku, but some other pattern)
First target 436 and then 445 or so.
Met the first target
Todays high 435.5
 

trade4putuval

Well-Known Member
Re: Tata Steel

Tata steel looks poised to reach the last swing high of 440, also qualifying it for a double top in daily.

My views below:

Check Daily Charts

I do not know what pattern to describe here. But if you look at the price reaction historically, you can see a pattern getting formed here.
The ultimate Chikou Span as shown by red rectangle will form the final resistance to the price rise of Tata steel. If you look at the purple arrow, it represents the price traced after the chikou span peaked. The similar action can be experienced in TS after the high is reached. Of course, there is a forward cloud resistance near 410. We will look at this if at all the price touches 440.

Check Weekly Charts

There is a level where most of the price action consolidated or got reversed. This has the same price range as mentioned in the daily charts.
Looking at the weekly RSI and final resistance by daily chikou, the red arrow determines the trend of the TS after it hits 440.

Check Monthly Charts

We got two days for this month to end. You can see the blue rectangles that shows the area of consolidation or reversal. Again, 440 is the level we are approaching in the monthly charts. Tenken in monthly will then be the level to watch for in monthly if the fall starts from 440.

In small timeframes,
30 mins:
Bounce from 100EMA in 30 mins on 24th Dec.
SST is bullish with this 100EMA touch as the bull SAR (416.35) and 423.3 as TSL.

5 mins:
Price rise got rejected at 425.9, the dotted line of 27th Dec.
423.8 is the low of the candle that broke out of the 5 minutes consolidation (1400 hours to 1505 hours). So this is a SL.

So we respect the level 423 and 416 before deciding whether to go long. We can go long with extreme small quantity if price opens near 425, and build up if 426 is broken. On the reverse, we wait till price reach 416 or when the price cross 423 again from the bottom of that day.

Man, in two days, I see 435 and 410.
 

trade4putuval

Well-Known Member
Hexaware


I see the weekly as below.


I draw a mirror image to determine the direction of price movement in coming weeks. Just a hunch!
Reason: Price stopped at the chikou of 136.8, which could mean a meaningful resistance. If you notice the chikou path after this high, it falls till the red rectangle drawn.
 
Re: Hexaware


I see the weekly as below.
I draw a mirror image to determine the direction of price movement in coming weeks. Just a hunch!
Reason: Price stopped at the chikou of 136.8, which could mean a meaningful resistance. If you notice the chikou path after this high, it falls till the red rectangle drawn.
The optimists may see an inverted H&S if it breaks above 135 with volumes.

Maybe a cup and handle...



On 315, it had a bullish crossover 2 weeks ago and last week found support @3ema.

 

trade4putuval

Well-Known Member
Re: Hexaware

The optimists may see an inverted H&S if it breaks above 135 with volumes.

Maybe a cup and handle...



On 315, it had a bullish crossover 2 weeks ago and last week found support @3ema.

Will keep a tight stoploss knowing this info. Cheers!
 

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