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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Friday, October 31, 2014

Tata Steel

Bias was again bullish as price opened and traded above PDH. Wa looking to go long. Went long as BPB PDH. Allowed some PBs as bias was very bullish. Finally TP as shown on beak of swing point.

Tata steel Positional: Target done!!

I was looking for a target of 490-500 on futures for TS. Target alomost there!!
#technical analysis 

Thursday, October 30, 2014

Technical analysis that works!!

There are many ways to enter stocks. The best way I find is through Technical analysis. There is a beauty in technical analysis and many times very pleasing to the eyes.
In this write up I am going to discuss the importance of 100 SMA. I am going to post some charts of the stocks where 100 SMA has worked very well. Then I will post charts where a probable trade could be setting up. Go through the post and comments are welcome.

Charts where 100 SMA worked well:

Now charts where a probable trade is setting up:

For more of technical analysis study and making sense of charts, email me at tradingblisspoints@gmail.com

Did not trade

Had some work today, could not trade.

Wednesday, October 29, 2014

Tata Steel

A open above PDH is always bullish. I could trade only the afternoon session. Long as BOF Range High. TP at EOD.

Tuesday, October 28, 2014

Tata Steel

No real bearish momentum for  TS at the open. Took BPB PDL short. Did not notice the support zone at that time. Careful scanning of previous price action made it clear. TP as price bounced. Did not take the BOF as it was CT and too many levels overhead. Took BOF IRH short.TP at PDC as thought that after the BOF at support zone, LOL PDC/PDL will lend support. No other trades.

Monday, October 27, 2014

Tata steel

Took last two trading days data together.Arrived late for trading. Missed the initial down move. Took BOF PDL long. Allowed a bit of PB till PDC. TP at IRH. FTC IRH/BOF IRH below swing low. TP when price bounced fronm IRL. Did not get proper entry for the next leg of fall. Missed it. Also TS started trading below PDL only after 3PM decisively, which was late.

Wednesday, October 22, 2014

Tuesday, October 21, 2014

Tata Steel

Tata steel gaped up above PDC. Went long on small PB as BPB PDH. TP as indicated on Bearish harami pattern and FTC. Short on FTC. TP at Pin bar formation at IRL. No other trades.

Friday, October 17, 2014

Intraday Trading strategy for Tatasteel

Tata steel opend above PDC/PDL.IR formed. When price did not cross IRH, suspected that it will fill the gap. Did not short. Long as TST PDC/PDL.TP at IRH. Shorted as BOF IRH. Stopped out. Was a minor TRAP. Long again as BOF IRH. TP at hanging man pattern. Short after the completion of the bearish hanging man pattern as FTC. TP as indicated.

Thursday, October 16, 2014

Intraday Trading strategy for Tata Steel

Pin bar in the morning indicated weakness. It was soon negated but the price could not reach the high created by the pin bar. Short as BOF PDH. TP as indicated as price bounced from PDC. Again short on BOF IRL/PDC. Trailed the position till EOD.

Tuesday, October 14, 2014

Intraday Trading Strategy for Tata Steel

A BOF in the morning, which I could not catch. Was waiting for a PB as there was a fluid below PDC. Took BO short after a minor PB. TP at rejection candle near PDL. Did not take the TST PDL trade even though was confident about it. Went long only above the swing high as indicated. TP when price started retreating. No other trades. Missed the last BOF.

Monday, October 13, 2014

Tata Steel

Blue circles= Buy
Red circles= Sell
Long as BOF IRL/BO IRH. TP on red circle
Long as BO range high, TP on red circle.

Saturday, October 11, 2014

Tata Steel trade based on MACD

       A Tatasteel Trade based on negative divergence of Price and MACD. Expecting TS to test the low again from where the upmove started.

Wednesday, October 08, 2014

Thursday, October 02, 2014

Of this and that!!

First of all "HAPPY DUSSEHRA" to all. May the evils of improper money management, overtrading, not following a plan be burnt and reduced to ashes and be vanished from your trading.

My internet connection decided to play truant owing which I could not trade properly for couple of days.
Markets still making up its mind as to what to do next. We already had a monstrous 1800 point rally and so a breather is expected and welcome. We have a indecision candle on monthly charts as well. So an interesting month coming up. Traditionally October has been a not-good-to-all month(remember Oct 2008).
Also may be that time of the year where we can brush up basics and try methods which we always wanted to try out.

Went through the post 'Good News' on NiftyNirvana. If Nifty lot is being reduced to 25, I think it is a move which will prove to be a blessing for newcomers and traders who want to test their strategies. But personally I am not a fan of Nifty lot size being reduced. For me 50 was most appropriate.Sure we can trade with multiple lots and add and subtract lots as per our ongoing trading plan during the trading hours, book part profits easily now but I think NSE is itself confused on this aspect. They introduced Mininifty and discontinued it. They wanted retail participation and then they did not want to risk retail investor's financial health. But now as the decision is being made, we have to alter our plans from next Series contracts.
There are already a number of stocks which needed reducing or at par lot size.
ex; BHEL is at 200 bucks, lot size: 2000, IRB is at 230 bucks, lot size 4000.
Does NSE think that it does not have to tinker with the lot size of Nifty again?? Does it mean markets will be bullish even more from now on?? Does NSE follow charts?? I think time will answer all these questions.

Personally, I will be off Intraday trading for the month of October as I want to test a positional/Swing trading method based on divergence of price and MACD. So will spend some time on it. Will sure keep posting trades based on this observation.These trades can be taken on intraday basis too( Want to combine DP trading along with this setup). Also will post views about various setups occurring on various charts. I am bullish on autos and auto ancillary and any dip should be a good buying opportunity.

Comments are welcome!!