Trading Strategies' log !!

[STOCK.KNOWLEDGE]

How was the Equity Market on June 13, 2013 !!

In Today's session, Nifty opened gap down with loss of 50 odd points, on the back of negative global cues. In the first half of trading session, Nifty tested its important support of 5700 levels & bounced up for 15 to 20 odd points, but could not fill the gap & couldnt sustain that bounce for longer. It broke below & dipped down till 5700 levels, tested its next intraday support of 5680 levels. In the second half of the trading session, Nifty traded range-bound in a tight range of 20 odd points i.e. between 5698-5718 levels & closed in red near 5700 levels. All the sectors ended making losses today. Sectors which decline the most were AUTO, REALITY and PHARMA.

 

[STOCK.KNOWLEDGE]

Glance ahead - View for Equity Market on June 14, 2013 !!

As seen, Nifty closed near 5700 levels, its very strong support. For tomorrows session, Nifty might open positive. For Intraday, 5700 level will be crucial Support level, if Nifty holds below this level, then further correction may be possible till 5650 & 5600 levels. But, next major support is at 5450 levels. On the up side, If Nifty sustains above 5700 levels & break above 5720 levels, then a bounce might be seen till 5740 to 5760 levels & major resistance is around 5800 levels. Traders are advice to watch for 5700 levels in intraday & trade with strict stop-loss.

 

[STOCK.KNOWLEDGE]

Glance Ahead - view for Equity Market on June 17, 2013 !!

Nifty was GAP UP today and ended with marvelous gains of 110 points approx. Since past few sessions, strong Supports & Resistances and certain Channels have been mentioned in the previous write ups and Charts. On Daily chart, Nifty has formed ISLAND REVERSAL PATTERN. In yesterday’s trading session, Nifty opened GAP DOWN and today Nifty opened GAP UP, which is a sign of reversal for the short term trend in Nifty. It has also closed above its 200 EMA on daily charts. For Next session, for intraday Nifty has a strong Resistance at 5880 levels, if it manages to close above that level, then a rally might be seen till 5940 & 5970 levels. On the down side, Nifty has a strong support around 5765 & 5700 levels, if it manages to close below those levels then further correction may be possible. Traders are advised to go for long position on dips, Iff, Nifty sustains above 5765 levels, with strict stop loss or may take long position in 5900 Jun Call Option. Traders may look for short-sell, iff, Nifty manages to close below 5700 levels.

 

[STOCK.KNOWLEDGE]

How was the Equity Market on June 14, 2013

As said and mentioned in the previous write up, Nifty was expected to have a GAP UP opening for today's session. Nifty opened 50 points GAP UP and maintained a slow rhythm through-out the first half of the trading session. Following the slow movement, Nifty managed to broke above it strong Resistance level of 5760 levels (Support turned Resistance on Daily chart). Inflation data were announced today, the numbers were as per expectations. Despite of strong positive sentiments, Nifty took its own time and trailed in a range of 30 points approx., with positive bais, with 875 Advances and 402 Declines, for the second half of the session. A break out of the range was seen in last 45 mintues of the session and Nifty further rallied up breaching its day high, marking a high of 5839, also broke its major Resistance at 5800 levels. Ending Up with a marvelous gain of 110 points approx. All the Sectors closed for the day in Green, the most appreciated sectors were METAL, AUTO & REALTY.

 

[STOCK.KNOWLEDGE]

How was Equity Market on June 17, 2013 !!

As said and expected, it was a gaining day for Index today. It is mentioned in the previous write-up (Glance ahead view for Equity Market on July 17, 2013), an ISLAND REVERSAL PATTERN has been formed on Daily chart of Nifty, as a consequence, we witnessed a rising index today. After opening, Nifty lost few points in initial hour of first half of trading session, because of the dilemma of What will be the Monetary Policy today? Though, RBI kept the Rate Unchanged, Market didnt reacted much to it, rather Nifty rallied up covering all the initial losses and sustained above 5800 levels, gained 85 points approx. with a new high of 5854.90 in the second half of the trading session. Nifty tested it crucial support level of 5770 on Daily charts and bounced up, closed in Green for second consecutive day. All the sectors ended up in Green except METAL lost 0.09% and REALTY closed flat. Top gaining sectors were INFRA & AUTO.

 

[STOCK.KNOWLEDGE]

Glance Ahead - view for Equity Market on June 18, 2013 !!

As seen, there was formation of an ISLAND REVERSAL PATTERN on daily chart of Nifty, which shows trend reversal. After taking support from its 200 EMA on daily charts, Nifty showed a significant bounce. For next trading session, in intraday, Nifty will have a resistance around 5875 levels, if it manages to break & sustains above this level, then more positive move will be possible in Index, till 5935 & 5975 levels. On the down side, in intraday, Nifty will have a strong support at 5820 & 5800 Levels, if it manages to break & holds below these levels, then further correction might be seen till 5770 & 5740 levels. Traders are advice to take long position in Nifty on dips with strict stop loss & look for short-sell position, only, if Nifty manages to hold below 5770 levels.

 

[jagankris]

Re: Glance Ahead - view for Equity Market on June 18, 2013 !!

As seen, there was formation of an ISLAND REVERSAL PATTERN on daily chart of Nifty, which shows trend reversal. After taking support from its 200 EMA on daily charts, Nifty showed a significant bounce. For next trading session, in intraday, Nifty will have a resistance around 5875 levels, if it manages to break & sustains above this level, then more positive move will be possible in Index, till 5935 & 5975 levels. On the down side, in intraday, Nifty will have a strong support at 5820 & 5800 Levels, if it manages to break & holds below these levels, then further correction might be seen till 5770 & 5740 levels. Traders are advice to take long position in Nifty on dips with strict stop loss & look for short-sell position, only, if Nifty manages to hold below 5770 levels.

Why not sell on rallies at crucial resistances and go long only if Nifty manages to close above 5928 ?

 

[STOCK.KNOWLEDGE]

Stock alert - unitech (june 18, 2013)

UNITECH - The stock has been in correction mode since last four weeks, from the levels of 31. It has corrected for 33% till date and is currently trading at 21 levels. Short-term Traders may take long position in it, in the range of 21.60-21.70 and maintain a strict STOP LOSS at 20.70 for GAIN of 10% i.e. least risk and considerable gain. Stock is having a Major Support at 21 levels, if broken down (on closing basis), then one should exit all long positions and may look for re-entering the stock at 18 levels.

 

[STOCK.KNOWLEDGE]

Equity Market on June 18, 2013

Nifty opened with minor loss of 8 odd points, due to mixed global cues. In the first half of the trading session, Nifty traded range-bound, after opening it dipped down to test its mentioned support of 5820 levels, it bounced and continued to trade in a range of 20 odd points. In the second half the trading session, it was a volatile move, after making new intraday low around 5810 levels, it gave a sharp rise further broke its intraday high and tested 5860 levels, followed by a sharp fall again, which took away all the gains. At the end Nifty tested 5800 and closed in red with loss of 36 odd points. Sectors managed to end in green were MEDIA, METAL & IT, on the other hand BANKING, PSU BANKING & ENERGY ended up with big losses.

 

[STOCK.KNOWLEDGE]

Glance Ahead - view for Equity Market on June 19, 2013 !!

As seen, Nifty managed to close above 5800 levels today. This shows that 5800 level is still a strong support for Nifty, in intraday & if it manages to break below this levels, then further correction might be seen till 5770 & 5740 levels. On the up side, in intraday, Nifty will be having a strong resistance at 5875 levels, if Nifty manages to break & sustain above this level, then further rise may be seen till 5935 & 5970 levels. Traders are advice to take long position in intraday, if Nifty manages to sustain above 5800 levels & go for Short sell Position, if it manages to hold below 5770 levels with a strict stop loss. For Tomorrows session, Nifty might have a positive opening.