NF - Learning Swing Trading

[ananths]

bought @ 8112 SL = 8120 ??

It was a position carried overnight from yesterday....Its a TSL. :thumb:

 

[ananths]

Current range is 8070 to 8150.

I will look for buying around 8100 with a SL at 8070.
Close below 8070 can be short.

This is just my view in 30m chart. Suggestions welcome. :thumb:

 

[pakatil]

Any Dip or Correction is fiercely bought in to. May be a Short is not worth.

 

[manojborle]

Current range is 8070 to 8150.

I will look for buying around 8100 with a SL at 8070.
Close below 8070 can be short.

This is just my view in 30m chart. Suggestions welcome. :thumb:

What you have drawn is a trading range and previous trend is UP.
You can treat this as a Bull flag, however you cant say when it will breakout above range, So when you are buying above 8100 there is a high probability of it coming down and breaking downside taking your stop loss and then going UP.

Never forget the RULE " In a trading range always buy near the lower side of range and sell at higher side".

 

[ananths]

Any Dip or Correction is fiercely bought in to. May be a Short is not worth.

What you have drawn is a trading range and previous trend is UP.
You can treat this as a Bull flag, however you cant say when it will breakout above range, So when you are buying above 8100 there is a high probability of it coming down and breaking downside taking your stop loss and then going UP.

Never forget the RULE " In a trading range always buy near the lower side of range and sell at higher side".

Very true. We should buy at range low..say 8070 - 8100 but i cant trade without a SL.

Thanks guys for pointing these important things. My view is to take only long trades because major trend is up.Currently market is in a range so I don't want to end up buying at range high. Otherwise buy would come above 8150+...may be we should enter half qty at range low and add once mkt gives a decisive breakout.

 

[ananths]

What you have drawn is a trading range and previous trend is UP.
You can treat this as a Bull flag, however you cant say when it will breakout above range, So when you are buying above 8100 there is a high probability of it coming down and breaking downside taking your stop loss and then going UP.

Never forget the RULE " In a trading range always buy near the lower side of range and sell at higher side".

Hi Manoj,

How would you trade Bull flag? what point you would buy in this case? 8070? then what would be the SL? I dont see any reasonable SL point below 8070 as of now. SL level is more important in any trade.

Positional traders buy above this range? or at range low?

 

[ananths]

6th Sept 2014
Choppy markets were an avoid, now is the time to trade; three day correction in Nifty, Bank Nifty may be complete; Monday is buy day for swing traders
Decline continues in Bank Nifty and price closes lower. This correction is continues from last 3 trading days. We may get a buying opportunity now. CNX IT traded choppy today. Trend is up and we should look for a buying in this sector.

We have ALUMINIUM in METAL SECTION. Prices are trading inside a range. A breakout may give us a trading opportunity. We have OIL in Sector Focus. Trend is up and we should look for buying in OIL Stocks. Stock in focus includes BAJAJ AUTO, CIPLA, HIND PETRO and INDUSIND BANK. For each of these stocks, we analyses their technical picture; identify trades with stop loss and targets. At the end we will discuss USD INR in Currency Tracker.
-Sudarshan Sukhani

Also, he has suggested SL to be at 8050.

 

[ananths]

I'm looking for a dip(say 20 -30 points) to buy....is that going to come?

Update: I will keep a buy order at HOD - 8165..if it doesn't get executed will wait for a dip.

 

[OMSAI]

6th Sept 2014
Choppy markets were an avoid, now is the time to trade; three day correction in Nifty, Bank Nifty may be complete; Monday is buy day for swing traders
Decline continues in Bank Nifty and price closes lower. This correction is continues from last 3 trading days. We may get a buying opportunity now. CNX IT traded choppy today. Trend is up and we should look for a buying in this sector.

We have ALUMINIUM in METAL SECTION. Prices are trading inside a range. A breakout may give us a trading opportunity. We have OIL in Sector Focus. Trend is up and we should look for buying in OIL Stocks. Stock in focus includes BAJAJ AUTO, CIPLA, HIND PETRO and INDUSIND BANK. For each of these stocks, we analyses their technical picture; identify trades with stop loss and targets. At the end we will discuss USD INR in Currency Tracker.
-Sudarshan Sukhani

Also, he has suggested SL to be at 8050.

My sl also same........but......I think 8040 is another strong support.......if Both break.....then......bye bye bull......correction will be confirmed.....:thumb:

 

[ananths]

Nifty closing near day high...good sign. If tomorrow goes above 8200..8150 can be SL.