Sridhar's Trading Dairy

[arunkarthik]

Are you planning to take a long posn in BEL futures? It’s at its best support levels.

I’m contemplating for it since morning to go along with 110PE.


Cheers
AK

 

[sridhga]

Are you planning to take a long posn in BEL futures? It’s at its best support levels.

I’m contemplating for it since morning to go along with 110PE.


Cheers
AK

Has it indicated any reversal of trend?

 

[arunkarthik]

Are you planning to take a long posn in BEL futures? It’s at its best support levels.

I’m contemplating for it since morning to go along with 110PE.


Cheers
AK

Has it indicated any reversal of trend?

109-111 is usually a stronghold zone. Below this it’s a short candidate. I hope it bounces back from here. It has made three red bars after a long green to retest the trend line.

With the markets being sloppy, it has to be played with a hedge or a SL.


Cheers
AK

 

[sridhga]

109-111 is usually a stronghold zone. Below this it’s a short candidate. I hope it bounces back from here. It has made three red bars after a long green to retest the trend line.

With the markets being sloppy, it has to be played with a hedge or a SL.


Cheers
AK

Of course there is a price decline. That is based on global ques. Where is the volume? Price is falling because stop losses are being taken out. It is not a fall with volume at least for today. I guess it will still turn around. Global markets cannot be in the negative for more than 3~4 days. Our market participated in the free fall slightly late (by half a day) because of good GDP numbers. Other Asian markets are already recovering or the fall is getting controlled.

This is going to get over.

 

[sridhga]

Evening Trades:

Trade ID_____Fill time_________Type___________Instrument_________Product_____Qty._____Avg. Price
25341428_____2:45:09 PM_____SELL_____TATAELXSI18SEPFUT_____BO_____800_____1424.00
25336053_____2:39:11 PM_____BUY_____TATAELXSI18SEPFUT_____BO_____800_____1419.00
62739195_____2:39:11 PM_____SELL_____BEL18SEPFUT____________MIS_____4950_____109.50
62723531_____2:22:19 PM_____BUY_____BEL18SEPFUT____________MIS_____4950_____109.00
62673403_____1:08:48 PM_____BUY_____BEL18SEPFUT__________NRML_____4950_____111.30

Evening Profitability: (All long Positions)

Product_____Instrument_____P&L
NRML_____BEL18SEPFUT______ - 5940 (MTM Loss, Not exited Position)
MIS_____BEL18SEPFUT________ + 2475
BO_____TATAELXSI18SEPFUT___ + 4000
Total____________________________ + 535
Less: Trans Chgs 3 Lots__________ -775
Balance___________________________-240

 

[sridhga]

BEL: An observation of the monthly charts suggests that BEL will trade in the range of 105~115 for this series.
I have a long position. Global markets including US are now in bad shape. I will wait for the open to observe and may take counter action.

 

[sridhga]

Elxsi: Rupee is hitting a new low. May take long position in this counter. This is despite global instability.

 

[arunkarthik]

The accelerated fall below 109 was expected but it this was on steroids. Hope it takes the immediate support on the psychological levels of 100-102.




Cheers
AK

 

[arunkarthik]

Is there a reason as to why it’s down this much? I couldn’t find any news as such.

Is it the divestment sale? Do they do it in open markets?


Cheers
AK

 

[sridhga]

Is there a reason as to why it’s down this much? I couldn’t find any news as such.

Is it the divestment sale? Do they do it in open markets?


Cheers
AK

There are no reasons that I could find.

Now what I am looking at is
1. If there was a gap down today, will it be closed in the next few days?
2. If it has lost !0% in a day without any bad news will it not recover?