Saathi haath bhadana, identifying sectors and trading fno stocks.

M

mintu_millionaire

Active Member
#1
#1
pals, i m a swing trader and i am ok with my trading skills, i always wondered if we can share our ideas and post our trades and track them on daily basis , it would be good for us and other fellas as well.
my trading strategy
1: will only trade stock listed in the fno stock and will trade both on long and short side of the market.
2: Trade will generally be taken on the direction of index, ie if i m bullish on nifty mostly trades will be long, so i'll keep updating my stance on nifty.
3: all the calls will be pe positoinal ie no intraday trades, sometime it may happen but all the calls will be taken considering them as positional.
4: will keep a close eye on sectorial indices, and will post charts of indices that shows strength / weakness.
5: I'll mention all the trades that i took and keep udating my view on them till i close them.
I am no expert but reasonablly competent and this post of mine is a request to all full time traders seeking their advice and sharing ideas
 
M

mintu_millionaire

Active Member
#2
#2
MARKET DIRECTION:
well the market showing weakness but nifty is at reasonable support, the following points are in favour of nifty
1: nifty is near 100 day dma
2: nifty is with the lower end of 7 months range, ie if it breaks this range, we will enter into a down trend, but till it is broken , i remain positive
3: we are still in a uptrend as per dow theory as we are making higher highs, so even if we have to fall we may go up and make a lower high ie rise from this level and then fail to cross 5300 and thereby making a lower high.

however negative newsflow is the flavour these days, poor earning by capital goods cos. chinese problem.
still i would say the good thing is that we are at the make or break level. if nifty breaks lows of first 4980 and 4950 it better to cut long position and go short. So if nifty sustains one can buy at these levels, and can expect atleast 100 to 150 points on nifty.
i tried to go long on nifty and bank of india on monday but closed position on nominal gains in the last hour as weekness
 
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M

mintu_millionaire

Active Member
#3
#3
SECTORAL INDICES
mostly all the indices are lookin weak with the exception of FMCG which is not a good news as it shows money goings in safe hands, auto index which showed good recovery signs on friday made fresh lows y'day after mahindra and mahindra results were declared. it index also was weak and made fresh lows.
 
T

tvrssvk

Active Member
#4
#4
mintu_millionaire said:
MARKET DIRECTION:
well the market showing weakness but nifty is at reasonable support, the following points are in favour of nifty
1: nifty is near 100 day dma
2: nifty is with the lower end of 7 months range, ie if it breaks this range, we will enter into a down trend, but till it is broken , i remain positive
3: we are still in a uptrend as per dow theory as we are making higher highs, so even if we have to fall we may go up and make a lower high ie rise from this level and then fail to cross 5300 and thereby making a lower high.

however negative newsflow is the flavour these days, poor earning by capital goods cos. chinese problem.
still i would say the good thing is that we are at the make or break level. if nifty breaks lows of first 4980 and 4950 it better to cut long position and go short. So if nifty sustains one can buy at these levels, and can expect atleast 100 to 150 points on nifty.
i tried to go long on nifty and bank of india on monday but closed position on nominal gains in the last hour as weekness
Click to expand...

I guess you said that the trading would be swing/position.

If I am not wrong, you have closed the position in a single day---intraday
 
T

tvrssvk

Active Member
#5
#5
mintu_millionaire said:
SECTORAL INDICES
mostly all the indices are lookin weak with the exception of FMCG which is not a good news as it shows money goings in safe hands, auto index which showed good recovery signs on friday made fresh lows y'day after mahindra and mahindra results were declared. it index also was weak and made fresh lows.
Click to expand...
Kindly post the information on sectors continuously....
 
M

mintu_millionaire

Active Member
#6
#6
well , as mentioned in the last thread, if nifty breaks 4980, 4950, the trade would be go short and as said i shorted the nifty at 4942. well the price target should be around 4800 levels, so lets keep a check on it. i'll post the contract note later in the evening.
 
M

mintu_millionaire

Active Member
#8
#8
tvrssvk said:
I guess you said that the trading would be swing/position.

If I am not wrong, you have closed the position in a single day---intraday
Click to expand...
pal, the strategy is always to be in a positoinal trade however y'day last hour nifty showed weakness and thre was a sell off in auto sector in last hour, so i felt it would be better to close the position and it did work in our favour.
 
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M

mintu_millionaire

Active Member
#10
#10
pals, y'day i had to rush somewhere right after the market and so could'nt update the trade. well y'day as i said i shorted nifty at 4942 and as u all know market fall terribly was was tempted to cover it in the last 10 mins and covered it at 4839 levels.
Today as we all see the market has opened with gap up so our trade has worked perfectly, again i would say it was not supposed to be a intraday trade but it happend somwhey. However let me not take credit for it, all the credit to almighty and some to us fed for not increasing intrest rate coz no chartist can predict gapups or gapdown.
OPINION ON NIFTY
As we see nifty has opened gap up, however still nifty looks negative below 4950 and i would again try to initiate short below it. Target still stays around 4800 levels. I'll post the contract note as i rec it.
TRADE
SHORT 4943
COVERED SHORT: 4839
 
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