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Nifty: A Simple Strategy Yielding Lacs.

NSE:NIFTY   Nifty 50 Index
I am surprised to see how this simple strategy could yield such handsome return in the Index futures .

Time Period= 1 June till date
Chart= 15 min.

Rules:


1. Divergence on Stochastics associated with inverse price movement
2. Entry @ break above/below immediately preceding "minor" swing high/low
3. Stop @ below/above immediately preceding "significant" swing low/high
4. Target @ immediately preceding "significant" swing high/low point
5. Would not trigger entry on gap openings, wait for price to pull back to entry or else trade will be missed
6. After entry, if target missed by few points then close position on break of a succeeding minor swing or consolidation pattern, whichever hits earlier
7. Minimum Risk to Reward Ratio should be 1:1 or else trade will be missed.
8. No support or resistance from higher time frame taken into account
9. All the entries taken with Stop loss and Limit orders.
10. Carry forward as long as target or stop is not hit.

Trades:

Trade1=33 pts.
Trade2=16*
Trade3=31
Trade4=34
Trade5=32
Trade6=13*
Trade7=47
Trade8=37
Total= 243

Profit on single lot= 243*75=18225

For earning 1 Lac or more one should have traded at least 6 lots.

* In Trade 2 and 6 target was missed by a few points so as per rules the position is closed at the break of succeeding consolidations pattern.
#Trade missed @ Divergence 3 because of poor RRR


Although this strategy yielded 100% success with no Stops hit yet it should be noted that we totally missed the shorting opportunity from 9700 to 9565 on 22nd June. The strategy might be successful in sideways to moderately bearish/bullish environment. Will it be good in a trending market is still a question mark for me, perhaps we will get the answer in coming days.

Kindly cooperate if am wrong in my calculations somewhere but i suppose the purpose of this post is clear to everybody.

Trade safe, stay healthy.

Best Regards
Afraidtotrade


Comment: Do hit like. It encourages to write better posts in future.
Comment: With due respect I would always ignore the requests for telephonic conversations. The only way to contact me for discussions is through PM or comments on tradingview platform.
Comment: Elliot Count


Disclaimer: I am not an expert in Elliot Wave. Try your own count if it works better.The count is based upon Elliot Wave Oscillator. I am using 5 min. chart because the waves are quite visible on this timeframe. This view is for short term only.

As this count suggests, for the last downleg from 9698, we are currently in wave 5. There are chances that it will extend beyond the low of wave 3. But as we see Wave 3 is an extended one, so wave 5 may not be as big as wave 3. If we take 1:1 price extension from June2017 highs (9709), for an a-b-c type correction, the potential target comes out to be 9550, which could act as a possible support. Wave 5 may end at this level followed by a swift pull back.
Comment: Sorry, wrongly pasted in this post :)
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Comment: Sorry fellows, not for this post again :)
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consider this.
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Comment: New entry point

Comment: Gap opening, entry missed so far.
Comment:

Time constraint fellows. From now onwards I won't post live on this strategy. Only post trade off market analysis would be done.
Comment: One more trade on this strategy
practically strategy not go right,i think other analysis needed
Reply
Bravetotrade rupambose32
@rupambose32, Works well in some type of markets..for others (strong trends) some other strategy might work.
Reply
Awesome friend. Thank you very much. Keep doing this good work.
Reply
@rteppala, your welcome
Reply
next trade would be Buy @ 9603 & Sell @9672 SL@9663
Reply
Bravetotrade abhijeetraajebhosale
@abhijeetraajebhosale, better wait..u may get better buy above a minor peak, if it develops, for a target 9646
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Promising analysis on very basic technique !!! Will try & let you know the output!
Reply
If possible pls dial 7358429680 I wanna discuss
Reply
If only some top tech person observes the chart intra day during market hour and points the entry that's a big service to fellow traders to enter. Through watssapp this can be shared too. ( just a suggestion)
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@Sarsans, freelancers only publish their ideas here. For buy sell calls one can look for paid services.. With due respect, there are many such service providers.
Reply
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