General Trading Chat

MF redemptions 28% lower in september MoM - positive news. But the important number would be October because this month saw the major carnage.
A net outflow from liquid funds in September - almost 1.5 times the inflow in August - most likely due to ILFS.
Inflows in equity funds almost at par MoM - only 3% lower.

With FIIs pulling out, domestic investments are the only hope for holding 9900 on Nifty.
 

headstrong007

----- Full-Time ----- Day-Trader
Shankar Sharma terms this as bear market. And potshots on a "baba" who claimed Rs. 40 to a dollar in 2014. ;)


He said the right thing.
Bull market is very easy to spot, the trick is spotting a bear market.
Not many one can call it a bear market as early as me. Bears gave the first sign with confirmation that day, when it gap down below 10800, those who spotted it there made huge profits. :)

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The problem is the bear market fall are such quick and sharper that before most people understand what is happening and why it is happening (they don't believe it in first place) they already lost 30-40%-50% of their portfolio value. :blackeye:

Bear market correction are so sharper (sharp bull rally but they are short lived) that it give false impression that it's not the bear market. But this is only bear market trick to trap the bulls easily :playful: (by giving sharp bull rally in between the larger down moves).

Most people (investors) don't love bear market becoz only a handful of traders got the advantage in a bear market. But, it's a life time opportunity for making fast money easily either side (mostly downside but as I said bull rally in a bear market are much sharper than original bull market, today BNF is the example.. how fast it covered 500 points, bears need to trap more bulls very fast..that is the characteristic of a bear market.. :DD).
 
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headstrong007

----- Full-Time ----- Day-Trader
Headstrong Bhai ....u covered your puts or still holding/adding. I am looking to short nifty around 10450 levels if get tomorrow
I was holding part of 24000PE bought around 62, already booked 50% 3 times higher. so there was no risk.
But, I was expecting a break of low 24300 bnf, waited for long but new low don't come. Around 2:40 pm I put a trailing stop and target for same 335 (I was told before). This time my stop hit around 2:48 pm.
Market failed to break the low created almost a double bottom, which could be a sign for some retracement up now. Double bottom usually a stronger pattern.

But, as I told I wanted to hold some 24000 PE till weekly expiry. I will try to buy it again later, may be oct 10 may give opportunity, lets see how fast bears can neutralize that double bottom effect.

Today I don't trade long side but entered short BNF @ 24805 (golden fibo resistance of previous swing ). My intraday leveraged trades squared off approx 100 points profit. I am holding the 24000 PE again bought around then when BNF was above 24800.

If you want to short, try to short at higher level and near to resistance or fibo levels.
For BNF current resistance levels 24790-810 (where I short) above that 24890-920 and then 25110-135. Around 25000 spot there is options chain resistance too.

Strategies varies from traders to traders. I short at important levels with small stop, I try to find out the pinbars in small time frames around that level quickly for added confirmation. And I scaled the positions too.

For NF resistance around 10460-505 then approx 10590-610, then 10795-850 (vital resistance).
Wait and watch the price action in small time frame to short where resistance lies. Lower time frames print the bearish candles early (similar strategies for for bull moves).

As market is in oversold condition, we can see sharp retracement (up moves), these are opportunity to short and fresh short always when market creates new low. Now market will attract shorts at higher levels.

When the retracement up is finished NF will try to test 10000 level first. That probability is still high bcoz after such quick and deep fall monthly-weekly charts are into the bear grip now.

Secret Tips:- This is more sell on high market now.. Try to find the pin bars (15m chart) around the resistances. :)
Bear market volatility is there so the retracement bull rally will be sharper too, which will give us good opportunity to make profits. Positional long is still risky unless market closes above 10850.
 
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john302928

Well-Known Member
Be cautious on JNSP. Jindal steel & Power cmp 214.6 and it might fall below 170-160 in soon.This is just my view View attachment 28846
Stay cautious on Tatamotors as well. I am not yet quite sure whether it will crash or not but momentum is strongly down good chances of 50% correction from cmp zone of 228.This is just my personal view based on my analysis and I could be wrong as well.
JNSP looks like fell to 164 yesterday.and
Tatamotors fell more than 17 % today .and it did what it supposed to do. cheers.i remember mentioning about tataglobal or tatasteel as well. not able to find those posts.anyway stay safe.
 
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