Disclaimer


The author is a SEBI Registered Research Analyst (INH000004796) and a NISM certificate holder in Equity Derivatives Market. The certification is provided by National Institute of Securities Markets.

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Thursday, August 28, 2014

TS


Took BOF PDC short. TP at pin bar as indicated.
BOF IRL short at PDL. A limit order. TP as price bounced from 517
Short on BOF range high. TP as indicated as price bounced suddenly. No more trades.

Tuesday, August 26, 2014

REC@ 200


NF & BNF & TS


I was bearish in the morning. Expected to test 7880-7870. Went short on BOF PDC. Was confident that price will test 7880. So ignored all the DPs in the middle. TP at 7880.Long on TST LOD on same logic. TP at EOD


Took only BOF IRL long trade on BNF. TP at EOD



Monday, August 25, 2014

NF & TS


Traded the afternoon session. Took BOF range high short. TP at NS BRN 7900.


Took BOF PDL short. No idea where the news came from. TP at EOD

Saturday, August 23, 2014

Nifty View


Nobody would have thought last year this time (30/8/13 to be precise) that we would close at all time heights in an year. Well, that's what has happened. So now having closed at all time highs lets see on charts what can be in store.

Long Term Technical View:

In the above chart it can be seen that the Nifty gathered strength from the year 2003. It faced heavy resistance in 2008 which coincided with the global financial meltdown and dropped to 2500 levels. Again in 2011 it faced resistance at the same level of around 6350. Finally it broke out out of that level this year. Nifty took 6 long years to do so. Now , its clear skies for Nifty. The pattern which has formed gives a minimum target of 10200 in another 6 years. How and when the breakout level of 6350 will be tested remains to be seen.
In the short term, Nifty is broadly range bound between 7400 and 7800, which it broke past which is again bullish.This should give a target of 8200 by this year end. Again all dips towards 7400 should be bought into. If Nifty trades continuously below 7400 then the premise has to reconsidered.

How to take advantage: Even in this uptrend there is going to be sector rotation.So looking at various sector charts decisions can be arrived at.
The best and easiest way is to Buy Niftybees in a systematic manner( Fortnightly/ Monthly).

Lets take advantage of this phenomenal opportunity.

BPCL


How to enter into a Trend??

I have got many queries as to how to enter into a trend for an Index or a stock. There are quite a ways to do this. There is no 'The answer' to this query. One method can be following pivots and higher lows and higher highs formation(In case of an uptrend).
One method that I have found very effective is to see whether the Index or stock is taking support at the 50 EMA. If yes then go ahead and enter the instrument with previous low/swing point as SL. I have found this method very effective and I use it very often in entering stocks and Indices. The entries using this method in Option trades can prove to a multibagger entries.

Lets have a look at some charts:

































To Learn Technical Analysis and sharpen your skills, mail me at : tradingblisspoints@gmail.com











Monday, August 18, 2014

NF 7800 CE and BN


Traded 7800 CE. entered as BPB PDH. TP at previous resistance area 110.


Entered long as BPB PDH. TP at EOD.

Friday, August 08, 2014

08/08/14


I will be out of town for personal work next week. Hence will not be trading next week.
Will be back on 18th August 14.

NF & TS 8/8/14



Short on FTC IRH/PDL. TP at previous swing low 538

Useful chart Patterns


One of the methods I use for taking swing trades is to use Hourly charts. I take the trades when the risk is in my bearing and the rewards could be worth getting into the trade. I search for patterns which can set up a trade. The patterns could be initiation, reversal or continuation . I have found that the Wedge pattern trades give a handsome R:R. I also use MACD divergence along with such pattern formation(If any).
I have been mostly using wedge patterns for trade initiation. But recently searching on net for price action, I stumbled upon Babypips.com. The site is good for concepts of Price Action trading. There I found some chart patterns which I thought of sharing. I have prepared a PDF. Do go through it and see if applied to your trading does it improve your R:R especially in swing trading.

Chart patterns



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Thursday, August 07, 2014

NF


Nifty opened near PDL. Went up till PDC/ BRN. Could not sustain.
BOF LOL/BOF BRN. TP at 7660 which was previous support.
BOF PDL long. TP on large bearish candle formation.
FTC HOD short. Again TP at support area 7660.
Bulls turning into bears and vice versa all in one day!!!

Tuesday, August 05, 2014

NF


Stayed out till announcement.
BOF BRN Long . TP at 7740 congestion zone.
BOF IRH short. TP at pin bar formation.
Long on TST of LOD. Entered using 7700 calls.
Entered at 88. TP at 150.

Monday, August 04, 2014

NF


Nifty Gaped up. Was in a range for an hour or so. Took TST IRL. Got in to 7700 CE at 92. Sold it for 106 when started falling back into the range. Long again as BOF IRH. Got entry at 97 for 7700 CE. Trailed till EOD.

Friday, August 01, 2014

NF


Had problem with my routine S/W. Traded using investing.com. Some difference in price, but managed.
NF gaped down. I had a feeling that the gap would be filled.
BPB BRN long. ( wanted to go long much earlier). TP at TST PDL/PDC.
Waited for 7720 flip to crack before going short. Short as BPB Flip 7720 (Which was holding for some sessions )
TP at NS 7600.
Only DP trading can provide you the thrill of such a roller coaster along with reasons!!!
Brilliant!!!