Trading Strategies Using Technical Analysis

Which date should the meet be held?

  • February 27th 2011

    Votes: 19 59.4%
  • March 6th 2011

    Votes: 8 25.0%
  • March 13th 2011

    Votes: 5 15.6%

  • Total voters
    32
  • Poll closed .

SwingKing

Well-Known Member
Raunakbhai

Whenever you are free .. can you just explain (or try to) what would happen if RBI strengthened the Rupee vs the Dollar i.e. not devalue BUT increase in value.

Thanks
Sure SM Bro.

But tell me in what context are you asking this? Market related .. Economy related etc

Tc
 

SwingKing

Well-Known Member
Today's price action was inline with what was expected but we need to see whether this expectation extends further. Personally I feel we are heading much much lower. This is not because I am completely in Cash and have huge shorts piled up, but it is prior to me taking positions that I had the view of markets going into a near term corrective cycle. Infact, it is only today between 9.20 & 1030 that we squared off our complete portfolio's. We were building shorts since Monday and we opened up some big short positions today morning. I am willing to take the risk of missing out on any upside action (on squared off stocks) because I will reverse my position in Nifty (to my Cash value or more) in order to capitalize for the upmove. This is of course if markets begin a mark up phase from here.

What we were witnessing on screens today was not good. There was some serious unwinding of positions which was taking place. This is never a good sign. Moreover, along with Banking, leading sectors like Autos were coming off sharply. When two of the strongest sectors come down, it is difficult for the markets to sustain any upward bias/trend. Important support currently for the market is pegged at 5400 (inner channel; See the graph in previous post) and 5500 - 5520 (outward channel). But If I have to guess market's movement, I would definitely peg my money on markets breaching this level. In the near term, I would anticipate markets moving down to 5150 levels from where they are today. The journey down could be slower and lower.

On the whole, above mentioned things are just a product of my visualization of the market. I may be completely wrong. Just an opinion. Educative for some and Entertaining for others. Take your call accordingly.

Tc
 

SwingKing

Well-Known Member
Raunak Sir

What are the levels are you watching? Yesterday I was questioning ur opinion. Lag gayii kal. Am deep in red now. Some level you must be visualizing. What is tht. I wont blame u later :) if it does not reach. Lekin guess to bata do. U have written 5100 but what is the rouhg level u r watching.

Adi
Dear Adi,

Contrary to what most are believing, I feel (and only feel) that we are heading for Sub 5000 levels. How and when that will happen and if that will happen I don't know. May be it will be a sudden drop or a slow grind.

If price suggests otherwise, I will reverse. But below 5750 I am short and I wont cover before that level. So lets see.

Tc
 

SwingKing

Well-Known Member
What is this Indicator? I have never heard about it before.

Some custom indicator made popular?

Do you have a link to where this is explained.

Tc
 
Dear SK,
I am of the opinion that RCOM and RelCapital are going to see lower levels. Is it possible for you to give me some technical levels where they become good buys. Looking for a 3 month horizon.
Regards
 
Last edited:

SwingKing

Well-Known Member
Dear SK,
I am of the opinion that RCOM and RelCapital are going to see lower levels. Is it possible for you to give me some technical levels where they become good buys. Looking for a 3 month horizon.
Regards
Dear Undefined,

First of all thanks for what you had written earlier (before editing your post :) ). Most of the participants of this thread have stopped writing much on the forum. I feels its phase and they will be back.

As far as Rcom/RCap are concerned, I am of the view that we are heading down much lower from current levels on broader markets and hence these two scripts will be available cheaply if my opinion is correct. Eventually when the corrective phase is over, try and enter some good/strong companies. Unfortunately Rcom & Rcap don't qualify into that bracket. When and if that time comes, I'll tell you some good stocks to accumulate.

Tc
 
Raunaqji,

I have been following you silently..Thnq for all ur ideas and strategies,becos of whch i made some profits...I have a small doubt...Since u were saying that index may go down,can i buy some put options for NIFTY may series at this juncture or which level of NIFTY to watch for to resume downtrend and also SL for NIFTY,can you please revert if this does not sound too aggressive to ask..
Suresh
 

SwingKing

Well-Known Member
Dear Suresh,

Markets do not work according to what I think. So, If I feel market is going to go down, that does not mean it will go down. Hence, please be cautious. Regarding options, I cannot advise much. My knowledge on the same is limited. Moreover, my view on markets spans for next few months and not for this month alone. My way of trading is very simple. If I feel something will go up I buy stocks/futures, if it will go down I short futures.

Please understand that your risk appetite is different from mine and I cannot advise on specifics.

Tc
 

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