See the post posted on 4 may 11 here http://kolhapuritrader.blogspot.com/2011/05/follow-up-trading-game-of-probability.html. Even though hourly and daily closes are below given levels, there is no weekly close happened below 5177.70, so possibility of new life time high is still open and it will strengthen if it closes above the resistance line shown in triangle pattern, AND IF IT CLOSES ABOVE 5950 THERE IS POSSIBILITY OF BLAST ON UPSIDE.
AT THE SAME TIME REMEMBER THAT IF IT BREAKS LOWER TREND LINE WE WILL SEE MUCH LOWER LEVELS PROBABLY 3900-4000 ON NIFTY.
BUT OUR GUT FEELING IS THAT EVENTUALLY IT WILL BREAK FOR UPSIDE, BE CAREFUL THIS IS NOT TO DO ANYTHING WITH TECHNICALS OR FUNDAMENTALS THIS IS JUST GUT FEELING!
4 comments:
Sirji,
There are so many bad news which are preventing markets to go up. The only favourable thing is fundamentally, MRP of nifty is 6200.
that means it is approx. 10% discount sale, and may b most of mid caps and small caps are available at more discount!!!!!
Dear Sir,
As per your trade diary you bought nifty 5633 what is the stoploss for this trade
right now it is hourly close below 5497.05, which changes as time passes, but most of the time before stop loss got hit, indicators suggest itself to exit the position. This strategy is bit complicated, we use almost 8-9 indicators, but over the time after observing market movement we think this is best strategy, which since apr 11 only we improved thrice. If u observe third sheet which is labelled as improved strategy, which is according to second improvement, nifty is bought at 5560.25 and right now stop loss is close below 5532.80 which may change or we exit according to indicators.
Post a Comment