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SUNTV - Nearing MULTI-YEAR HIGHSThe stock has been in an upward channel . And now it's re-attempting to push higher than earlier high of 774 and move towards levels which it achieved before 2008, that is above 800. Buying interest has been good. But be careful, the stock has already moved a lot on the upside, and might not immediately cross the earlier level; but when it does, a big breakout is more probable. Keep it in your watchlist for upcoming days and trade according to strategy.
NSE:SUNTV
by dravya
6
INFOSYS - Important RangeIn this chart you can see that how fond is Infosys of the given range 1020-1040. I have marked with rectangles on what happened. You can observe that it is a decisive range and price has always ( except for 1 consolidation ) followed the breakout direction in the following days. The intensity of this range can also be felt by the multiple gaps and consolidation happening in it. I think this info will help you in your trades in this stock. Many different strategies can be created based on this. Regards. Cheers !!
NSE:INFY
by dravya
2
NIFTY - BUDGET DAY IDEA | Must ReadAttention please ... tomorrow is budget day and lot of movement is expected. You'll get a lot of calls/ideas saying this will happen, that will happen, go long, go short, etc. But, as professional traders, we know that predicting is not our job, our job is to make money. Believe me, whoever tells you that he knows what all will be announced in budget and how the stocks and index will react, he is lying. Nobody knows, not even Jaitley, that at what level will Nifty go. Hence, don't decide pehle se hi ki main to long hi jaunga, nifty badhega ya main to short karunga, nifty girega. That's a beginner's approach. Not ours :p Crazy movement is seen on budget day. So trade with caution and save yourself from swift movements against you. SL is must. So, how do we do make money? Here's my strategy, ( you can trade with other strategies too, but whatever I have written above is true for everything, that's why I titled it as a Must Read ) According to my analysis, I have marked levels on Nifty. You can see R1 which is the Resistance, so if Nifty stays above today's CMP, there's no real resistance. You can buy as long as it stays above it, Nifty is strong. You can see S1 and S2, they are Support points, but they might be breached if the market is unhappy with the budget. You can go short when it goes below these lines, with the line as SL. And then you can see S*1, S*2, S*3 which are stronger support lines which shouldn't be easy to go through, and which should act as your take profit points. ( targets ) when you go short below S1,S2. If it goes below S*1, Nifty is too weak then. Additionally, you can see a special blue trendline, if it stays above it, then Nifty is ultra strong, below it, not so much... Final words : Stay calm, follow your plan, don't rush, take quick action, be prepared for reversals. Thanks and best of luck :)
NSE:NIFTY
by dravya
8
Popular Demand / Results : ITC Idea + Positioning EducationHi friends, ITC results came out on Friday. I'd go short on ITC for 3 reasons : 1. Risk Reward is much better. 2. If the news couldn't make the stock go higher intraday, makes it more probable to go down further. 3. Volumes And also I have drawn my lines to illustrate levels which are significant according to me. So, as for now, I'd go short CMP - 257.5 With a stoploss of 260-262 And immediate target of 253, and a good break below it , positional target of 230 with a trailing SL of 255 Rupees and further riding the trend until an upmove of 5 Rupees. So, let me explain all this to make it more clear. All of the above target points are to be taken into consideration. but actual trading will be done when the market opens, right ! So, if it gaps up above 260, we don't enter itself. Risk Reward isn't favourable, as for me,so, I wouldn't like to go long on an over extended uptrend. But if it opens below CMP or near it, I would go short and I'd keep my SL between 260-262 according to how it moves, judging the strength of the move. If it goes correct, that is downwards , I would watch how it behaves near 253, a clear rejection from those levels or a decisive break. A clear rejection would be a signal to exit. but if it breaks well, I would bring down my SL to 255 and wait for it close on intraday. You might think, why I am not keeping any target ? Pro traders have taught that ride your winners and cut your losers , and I believe in it. Who are we to judge to what extent will it fall ? Intraday done ! Now comes the turn of positional and swing traders, as mentioned, you should trail your stop loss by 2% or % Rupees for this stock. That is, suppose ITC goes to 245, should you hold or book ? suppose it goes to 240, should you hold or book ? This question always remains. The answer to this according to my style is, keep holding until it reverses 2% or 5 Rupees in this case. By this, what is happening is, we are allowing ourselves to ride a strong trend, and get ourselves out when it gets weaker. We ride the car until it gets slower and starts reversing ;) That's all for today. This was the weekend educational post + popular demand idea on how to trade ITC. I hope I was able to convey how I manage my positions. and I hope you benefit from it and gain knowledge. Regards. Happy Trading !!!! Yours sincerely, Dravya Raj.
NSE:ITCShort
by dravya
36