Weekly Chart 31.10.2013

Normally, I avoid trading Expiry day. So not trades for Today & Even tomorrow.

Was Looking at  Weekly Chart of Nifty. Bollingers are suggesting another 200 pts move. I hope, in coming few days, Market will make New Highs & with this Euphoria, Everybody will be buying Anything... That will be the time to Short Positional...

For Intraday... Market will be ranging 90% of the time.. so as usual- Trade on both sides..

Intraday Trades 30.10.2013

Euphoria not ending for Nifty.. Market was Ranging in the morning. Took 2 trades today:-

1) Went long on the Hammer resting above mid Bollinger..Got very tough 18 points as was fearing with the wicks of candles & a doji made me out..
2) Was waiting for going short since morning, as i am bearish from few days.. Entered on a Big Bearish candle. Another 18 but Quick point move made my day..

Intraday Trades 29.10.2013

Nifty didn't close below 6100 yesterday & an upmove was expected as per yesterday's post. Hoping to give a Breakout Failure at the Recent High of 6250 NS by this Diwali.

1) Attempted one short intraday, but got stopped out with 5 points..
2) Didn't take any other trade as was not available. Missed the 2nd big move of 50 points

Intraday Trades 28.10.2013

Nifty Closed down as expected & written yesterday, but it should have closed below 6100 NS today. What i am feeling from today's trend is It may not go beyond 6000 in this thrust & should go once again upwards to get set the Crowd again in Long trades..

1) Today, only 1 trade attempted & that too when Price tagged the Lower Bollinger Band with break of previous swing low.. A slow 20 points move.. Closed it at 3:30, as no exit signal before that..

Daily Chart Analysis for Nov'13 - 27.10.2013

Nifty Closed @ 6145 at the verge of breaking all time Highs & every body is excited to go for more. RBI announcement is on Tuesday & the Technicals of Nifty as well as few major Stocks are indicating a Reversal from current Position.

Lets look at the Daily Chart-
1) RSI has given a small yet Powerful Bearish Divergence (although it happens in Strong Trend also)
2) MACD has also given a Bearish Divergence from Previous Top(this has strengthened the RSI indication)
3) Nifty Turning from a Major Decision Point
4) A Gravestone Doji with OK follow up

So all Points concludes not to buy till 6200 is broken with RBI announcement. So conservative traders can wait till Tuesday. Our take is to

SHORT  NS below 6100,  TGT - 5700, 5600 , SL 6175

Intraday Trades 22.10.2013

Today was a Ranging day. Attempted 2 trades:-
1) Failure to continue beyond Day's High & Previous close + BB signal. Got easy 20 pts..
2) Attempted another trade Long, but it ended up as a scratch.
No further trade..

Intraday Trades 21.10.2013

Two trades Today:

1) Nifty refused to go below Yesterday Close, Entered at the good Bullish candle. Exited on 2nd touch on Bollinger as no Trend.
2) Nifty came down too fast, but next candle didn't cross its low. Bought again at middle Bollinger, TGT - upper Bollinger. Exited at 3:27, as Bollinger had shown a Trending move..

A Trading System...

A lot of Traders don't find Consistent Profits, rather loose money. The Trading System always gets the Blame for all the loses.  The Vast majority always keep looking for a Better- Profitable Trading System, a solution to consistent loosing.

The irony is that the Solution has nothing to do with Trading System.

A Loosing trader is in a cycle which consists of 3 phases:-

Search - Action - Blame - Search - Action - Blame - Search -------------

Phase 1):   You are searching for a Trading system. You look for them in Books, Websites, Online forums, Webinars, Seminars, or by speaking with another trader. If you are unable to find a comfortable Trading system, then you are in Phase 1.You will leave Phase 1, once you find a Trading system that is exciting & that you can't Wait to Trade.

Phase 2):   Its fun & the Action Phase. There is excitement & you begin to trade the system with hopes.You don't even test your New Trading system (a minority of Cautious traders do). but at some point, things look bleak. May be Profit pours in early & eventually Loosing trades piles up. There are several loosing trades in a row whenever you increase the Trade size or Risk per trade. With these Drawdowns, you will Loose faith in your system & this is beginning of END of Phase 2.

Phase 3):   Its Blaming phase. The trading system is scrapped because it failed to provide consistent Profits. The Trading System found the loosing trades. Frustration sets in because the system which looked Fool-Proof ended up as a looser. You decide to move to New Trading system.

Return to Phase 1):   Once you decide to give up your system, the search for Better system starts again. The cycle repeats itself once again.

The problem is this: The Profit doesn't come from Trading systems. It comes from Traders !! Traders find Profits in the market & the tool (Trading system) used to extract these profits is not as essential as the Trader's execution.

The first step towards Profitability is Identifying that you are stuck in this cycle. The Key to break the cycle is to recognize that Trading systems are not responsible for Loses but YOU.

Intraday Trades 18.10.2013

Today took 3 Trades - All Longs with 20 Pt Target each...

Nifty Strategy for 04th Oct

Nifty Turned as expected.. As per me, its a Bear Market Rally !!

Went Long as per Strategy near 5760. 1st TGT = 5900 achieved in NS. 50% Profit Booked. We will book full profit in between 5900 ~ 6000 & will prepare to go Short near this Area..

Nifty Strategy for 01st Oct

Nifty is at a crucial level @ 5750. All the people are looking for 5500 (the target of Head & Shoulder pattern break). Every Indicator has turned negative But it seems, market will not go till there in at least this Move. The follow up of the breakdown is too weak.

What OI data suggests, 5700- 5750 will not break & a bounce is expected from here till 5900/ 6000.

In Last trade SL hit @ 5870 and initiated shorts @ 5870. 

If the market doesn't break yesterday's low with Close, We will book all shorts here & will try to Go LONG near 5740~ 5750, else Shorts continue..