Maruti Long Trade

Long on Maruti @8837 (May futures price). Tight SL with good risk/reward ratio
MFI and OBV at very low levels
Ichimoku Chikou Span will hopefully emerge from congestion
Much of the market is overbought but Maruti has fallen significantly
Comment: A 15min Up Renko brick seems to have formed. Trade is going well...
Comment: Trade is going well... Gap up... Waiting to buy more lots if price falls


Have you closed this trade? Loss in day trading in cash prompted me to go for call options with the hope that the stock will recover someday. That is the way my option trading started this year Even if it recovers now that will be just useless for call options buyers!. However this stock through its silent downward movement was indicating that something is wrong in market and volatility expected in May and coming years! An indicator stock!?
fcsa Pranabkolkatay
@Pranabkolkatay, @Pranabkolkatay, No I closed at cost on May 3rd. I don't understand what is happening. Suzuki revenues from India are now higher than revenues from Japan. Maruti market share is climbing and now at about 50%. So this sustained downtrend is puzzling. Perhaps the big players are unloading a bit given rising fuel prices and its probable effect on future sales.

The economy is in a mess. In the last four years the only thing good that happened was the low international price of crude. We are the 2nd biggest crude importer in the world I think - maybe 3rd biggest. Despite the lower crude prices, Indian public was paying the same price as 5 years ago when crude was over $100 per barrel. So the government mopped up a lot of liquidity. All this was played up n the media as "economic development". There has been zero economic policy.

Now the picnic is over. I expect the Nifty to go below 10000 in the next one year or so.
@fcsa, Many people in this 'tradingview' opined yesterday for the probablity of Nifty breaking the level of 10000 mark after yesterday's market fall. Now you keep the target for next one year. As regard to your view on economy I was thinking a case in point how the negativism has been shown in twisted way. In 2015 if I am not wrong Government injected 26000 crores to Air India, as a first installment. How the money has been spent is unknown but the status remained same and might have been deteriorated and we time to time heard of selling stakes of Air India. Over past couple of years the slogan was that Hawai chappal wale flight me jayenge. It has happened partially because the rail fare has been increased and no new train has been introduced. AC2 tier AC fare from Delhi to Bangalore or Kolkata to Pune are higher than air fare. I still travel in train and I feels that the conditions have so far remain unchanged and in some cases have been deteriorated. Over past few years we have come across with the news on accidents and the real cause has never been inspected or even inspected not known to general public. Infrastructure of railways hardly found any improvement. Services has been deteriorated for example in Duronto type and quality of food is in no way better than those supplied in the initial periods. Other hand unnecessarily there is a slogan for Bullet train in one section that might cover only a small section of Indian population besides the economic review and the socioeconomic status of our country strongly suggest that rail might ultimately incur in loss in revenue from those types of trains. On the other hand though Flights are flying with almost 80% or more occupancy over past couple of years the quarterly result of Jet Airways is devastating . It has reported huge loss in this quarter. We don't know the financial report of AIR India but if published in real we may find that situation has worsen.
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