- · The levels are marked as Buy, Sell or Buy/Sell. At levels marked Buy/Sell you can take long and short trades.
- · Trades are executed after two minutes from open, i.e. after 9:17 and usually one trade per day. Only take the first trade that comes after open.
- · After open, watch the levels and current price. Only the first trade is executed. If a level says Buy and if price is above that level, then buy on a pull back to that level. If price is below that level, wait for a break above that level, and buy on a pull back to that level. If a level says Sell and if price is below that level, then sell when price reaches that level. If price is above that level, wait for a break below that level, and sell on a pull back to that level. If the level says Buy/Sell, then if price is above that level, buy on a pull back; if price is below that level, sell when price reaches that level.
- · Usually only one trade is executed on a day. However if stopped out in the first trade, then take the trade at the next level also. On days marked with Directional sentiment sideways, two trades can be taken, the very first trade and another trade at any of the extreme levels.
- · Breakout is determined on the basis of closing price on a 2 minute chart. Close should be clearly above or below the level.
- · Do not expect entry at the exact level, execute trades near the levels. SL is calculated from the level, not from the entry price.
Date: | 4-11-2011 | Symbol: | NIFTY Fut | |
Directional Sentiment: | Sideways | SL/target: | 12/30 | |
Level | Comments | |||
| 5388 | Sell | |||
| 5364 - 5369 | Sell | |||
| 5342 | Buy/Sell | |||
| 5329 | Buy/Sell | |||
| 5274 | Buy/Sell | |||
| 5230 | Buy | |||
Date: | 4-11-2011 | Symbol: | DLF Cash | |
Directional Sentiment: | Sideways | SL/target: | 1.5/3.5 | |
Level | Comments | |||
| 249.50 | Buy/Sell | |||
| 247.50 | Buy | |||
| 239 -240.50 | Buy/Sell | |||
| 234 | Buy | |||
on 4/11,according to my trading,stock closed below 5342 at 5335.Subsequently,came upto exactly 5342 where it was a short & a min 20pt profit.
ReplyDeleteIs it a right intrepretation pl?
DLF also gave profit
Ranga,
ReplyDeleteThe markets are dynamic. In my personal trading I am using the evolving market development. This blog is about trades given before market open, and strictly follow the rules. My personal trades may not be the same as given in the blog. I am not in a position to update my trades real time. These levels are where I initiate trades, but my exits are different.
So the NIFTY trade survived the stop loss by 0.15 points and made the target of 30 points. DLF trade was loss. It was a buy at 249.50 and hit SL. I will update with charts later.
Stat,
ReplyDeletePl discuss "evolving mkt development".
Also,Nf at 9.17,closed at5335 while 5342 was B/S level.So,as per strategy,when stock pulled back to 5342 it was short with 12pts/l.So,why u say that s/l escaped by 0.15pt
I agree with yr comment on DLF,but there was Gap up & hence short preferred at 249.5 breaking.
Can u pl give levels for one more cash scrip
This comment has been removed by the author.
ReplyDeleteRanga,
ReplyDeleteAs u said NIFTY was short at 5342. Then it went down to 5320.45 around 10.20. Our target was 30 points from 5042 ie. 5312. Then it went up to 5353.95 around 11.18 and SL was 12 points from 5342 ie 5354.05 exactly. Then it came down and reached 5312. But as u said in first comment, if u target 20 points, then it is ok.
Ranga,
ReplyDeleteIn your DLF case, there are certain scenarios with respect to the open which you pointed out. If u can make better discretionary trades, it is all better. The levels and trade rules are of basic nature.
Thank you
ReplyDelete