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Friday, January 30, 2015

30/1/15, FRIDAY


Could not trade in the first hour, as Net connectivity was an issue. Aggressive traders would have shorted BOF PDH.

1) Wanted to short below MSP. Hesitated as already 60+ move had been completed. It moved well. 100 points move is commom these days and must change my views accordingly.

2) Was waiting for the eventual fall. Where and when were the billion dollar questions.Hesitatingly shorted after 3 attempts  to move above BRN failed. As it was lunch time, had some doubts, whether the volume will be sufficient to trigger further fall. Stopped out. Gave 8 points.

3) Volumes returned after 1.30 Noon and the unavoidable fall happened after the last ditch effort by bulls failed. Waited for PB and got it after a major part of move was over. Sorted LOD BPB and got 10 points.

Results of PSU Banks seem to have triggered this fall.

Disclaimer: I am not a Research Analyst, registered with SEBI. I maintain this blog only for my own learning purpose and recording my thoughts on intraday activity of Market. I do not give any kind of trading advice to anyone. My methods will result in severe losses. Hence please do not follow me.

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10 comments:

  1. RajuJanuary 30, 2015 at 6:25 PM

    Good Evening Karthikeyan,

    Thanks for your encouragements, will achieve our goals for sure.
    Both of your trades are valid entries.

    Raju

    ReplyDelete
  2. veerJanuary 30, 2015 at 6:38 PM

    Dear SK

    It will be helpful if you could please mark the IRH and IRL.

    Regards,

    Veer

    ReplyDelete
  3. nifty for breadJanuary 30, 2015 at 7:43 PM

    Dear Veer,

    I normally don't mark IR, unless it has very clear Range extremes, which can be recognised by every one. I remember ST saying that IR must be clear to everyone to be effective.

    I start the day with the last impulse of the previous day as the current Range. Until one of its extremes gets broken, I don't take any trades.

    I will mark IR from the next trading day. Can you please throw some light on your 1 minute IR?

    Thanks,
    S.Karthikeyan

    ReplyDelete
  4. veerJanuary 30, 2015 at 8:24 PM

    Dear SK

    Thanks. I draw one minute IR - the high and low of the current day only. I never consider the previous day's last range for IR purposes.

    Regards,

    Veer

    ReplyDelete
  5. veerJanuary 30, 2015 at 8:25 PM

    One minute range of high and low - and just not one minute candle.

    ReplyDelete
  6. ArvindJanuary 31, 2015 at 2:17 PM

    Hi SK,
    Your shift to Amibroker inspired me to setup the NF charts in Amibroker, although I had tried earlier many times half hardheartedly, but gave up as there was an option of MT4 available.
    My trade in Amibroker
    http://screencast.com/t/T3tEERsBKO

    Still long way to go......

    Thanks,
    Arvind


    ReplyDelete
    Replies
    1. nifty for breadJanuary 31, 2015 at 4:09 PM

      Hi Arvind,

      Nice chart. Mr.Raju helped me strongly to succeed in setting up datafeed to Amibroker. He has sent AFLs to me for automating the markings of RN/BRN, PDH,PDL and for current price to be displayed in big font at the top of the chart. If you are interested to instal them, let me know. I will send them to you.

      Thanks,
      S.Karthikeyan

      Delete
  7. ArvindJanuary 31, 2015 at 8:09 PM

    Hi SK,
    It will be great , Please send the AFL, my email id is arvindthane2012@gmail.com.

    Thanks a lot.

    Arvind.

    ReplyDelete

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