Saturday, 31 May 2014

Must See Video





Watch it. It is in Hindi. Don't you find it interesting??? There are many more on Youtube by Mr. Sunil Minglani. Utilize your weekend to watch them and let me know your feedback.

Friday, 30 May 2014

30052014


Nifty opened above PDC but sold off.  Initial move was down.
1) BOF of DO IRH as bias was negative.  Covered at 17 points of profit when it bounced from the low of 21052014.

Missed the up move.
2) FTC HOD, BOF of DO IRH.  Covered at 18 points of profit
3) Sniper Shot trade below RN. Target was LOD.  Achieved.  Profit of 11 points.
Missed the last down move.

Thursday, 29 May 2014

29052014


Nifty opened above PDH and tried to go up but could not go up above RN.
1) BPB of PDC IRL.  Covered when it took support at PDL. Profit of 18 points.
Then there was a TRAP pattern.  Did not take it as there was BRN below.
2) BOF of LOL PDL BRN.  Went long above MSP. It did not move as expected.  Loss of 8 points.
3) TRAP.  Booked when failed to go further down.  Profit of 38 points.

Wednesday, 28 May 2014

28052014



Nifty opened above PDC within previous day's closing range. Nifty remained in a narrow range most of the day. Attempted two trades without any gain.
1) BOF of LOL IRL/DO PDC.  Went long above BO candle. Booked at 4 points profit when it could not go up further.
2) Took direct BO of narrow range. It did not move as expected. Scratched when it fell back again in the range. Loss of 4 points.

Tuesday, 27 May 2014

27052014


Nifty opened below PDC within previous day closing range.  IR formed.
1) BO of IRL.  Usually, I avoid direct BO but took this BO because of PP, though it was a low probability. I was aware of the Space.  PDL was close.  I thought if it breaks IRL, SL triggering will take it to PDL/BRN and there may be further SL triggering below PDL. However, it failed to go further down.  Covered at 8 points of profit above micro swing high.
2) BOF of LOL PDL/BRN and IRL. Went long above range high.  There was a MSP above it.  It got resisted at MSP.  Scratched it at pullback swing low. Loss of 2 points.
3) BOF of LOL PDL/BRN.  Again went long above swing high and flip zone. Then there was a deep pullback to the flip zone.  I feared my SL will hit but it proved to be a strong flip zone and gave support. However, it remained in the range. Covered it at a profit of 8 points.

Monday, 26 May 2014

26052014



Nifty opened full gap up.  Bias was positive.
1) Went long on its third attempt as BPB IRH RN. Booked when it could not sustain above BRN at 21 points of profit.  Could have booked early.
2) Took short on BPB of BRN 7500.  I was getting ready to book it at LOD, but thought of waiting for few minutes as NS LOD had already broken. Got rewarded very handsomely. Booked when second attempt to go down failed at LOL PDL/BRN. Profit of 171 points.
3) Got greedy and took third trade.  BOF of LOL PDL/BRN.  Took the help of 1 min chart for entry.  Booked when failed to go above MSP.  Profit of 17 points.

Friday, 23 May 2014

23052014


Nifty opened gaped up within previous day range but outside the previous day closing range.  The initial three candles were doji and then there was a sudden up move.  Could not trade that up move as there was no pullback.
1) FTC of HOD.  Waited to short till it broke down below the flip, below the swing low. RN was very close.  Did not expect it to provide strong support as it got broken in morning up move without any resistance. Then there was a pullback from RN.  Shifted the SL to the BO candle.  Finally booked at 15 points profit.
2) BPB of RN. Took this trade as i expected PDH to not hold.  Booked at LOD.  Profit of 29 points.
3) BO of MSP, BPB of PDH. Went long above the flip.  Very strong up move. Booked at day close with 45 points of profit.

Nifty Future MT4 Real Time Charts

GCI Trading provides MT4 metatrader 4 platform for Nifty Futures Realtime charts. Also you could find 10 Indian CFD’s with realtime charts in GCI trading MT4 platform.
1)Bharti Airtel
2)Infosys
3)Reliance Communication
4)Reliance Industries
5)Reliance Infra
6)State Bank Of India
7)Tata Motors
8)Tata Power
9)Tata Steel
10)Wipro
Professional traders and even students of stock markets could make use of this free realtime facility to gain more knowledge on trading strategies with indian market with a highly sophisticated trading platform like metatrader 4.  Other than Nifty you can also get Forex, World Indices, US Stocks and Dollar Denominated Commodities live charts at free of cost.
Chart Setup Procedure
1)Download and Intall the GCT Trading Software
2)When launching the program for the first time, you will see a window with the registration form; after you have filled it in, you will automatically get a demo account.
3)Now Right Click on the Market Watch
4)Select SYMBOLS
5)To get Indian CFD’s go to CFD Shares IN and select one of your favorite Nifty stocks among the list. Nifty future will be found under Indexes
6)Click on the Tab SHOW
7)Now the Corresponding Ticker will be available in the Market Watch
8)To get the chart just right click on the Ticker and Select Chart Window
10)Now Charts are live and you can change the Periodicity of the chart and change it for the required time frame.
Note : There will be a small variation with the spot price and GCI MT4 price because GCI quotes the latest value along with Spread margin as GCI charge brokerage in in terms of Spread Margin. So GCI Price = Latest Price + Spread Margin.  Usually there will be a difference of 4 of 5 points between them.  So while placing a order with your broker you will need to be aware of this difference in nifty rate and MT4 rate. 

How to Plot Any Timeframe in Metatrader

Some strategies work better in a time frame which is not provided by default in MT4.  Period converter.mq4 will serve that purpose.

Step to Plot 3 min timeframe
1)Download the indicator (Period_Converter_OPT.mq4) and unzip it.  Now copy paste this mq4 file into your metatrader directory\MQL4\indicators (GCI MT4\MQL4\Indicators).  The path will be like this.  C:\Program Files\GCI MT4\MQL4\Indicators. It will show up under “Indicators” in your Navigator box.
2) If you want 3 min timeframe chart , for example, open a normal M1 chart, and apply the Period_Converter_OPT indicator to it (drag/drop it into your chart). In the indicator’s properties box, choose the desired PeriodMultiplier (e.g. 3). By default, it is 2 there.  You would need to change it to 3.  IMPORTANT: In the “Common” tab, check the “Allow DLL inputs” box. Also, keep the UpdateInterval “0″ to allow the updates to be in real-time.
3)On the main MT4 platform, go to File>Open Offline and your new chart will be listed, so simply choose it (e.g. Nse_Nifty, M3). This will bring up the new chart. Any indicators you apply to this new chart (e.g. MAs, Stochs, RSI, etc.) will be based on the custom time-frame.
4)IMPORTANT: You must keep the original chart (onto which you had originally applied the Period_Converter_Opt.mq4 indicator in Step 2 above) always open if you want the new non-standard time-frame chart to automatically update with current ticks. If you close that chart or remove the indicator from it, the custom chart will not update. 
That’s basically it. All multiples will work. So, if you want H12, for example, use PeriodMultiplier=12 on an H1 chart, keeping that H1 chart open if you want the new chart to be continuously updated. (Remember to always check “Allow DLL inputs”, too.)

Update:  NPA Trader has shared another period converter.  You can also use this.  It can be downloaded from this link.  Click here

Disclaimer:  This article is taken from www.marketcalls.in.  I have just made necessary changes in it. I thank 

Thursday, 22 May 2014

22052014


Nifty opened within previous day's closing range. IR formed.
1) BO of IRH, BPB of BRN.  Kind of PP at IRH gave the confidence to go long though there was PDH and NS BRN over head. Booked when it failed to remain above NS BRN.  Profit of 9 points.
2)  BPB of PDH. TP when flip failed to hold.  Profit of 18 points.


Thursday, 8 May 2014

08052014

Today's First Trade


Nifty gaped up above PDC and IR formed.  Filled the gap and took support at PDC.
1) BOF of IRL/PDC LOL. Here space was a problem, BRN was just 10 points away.  Took the chance, moved as expected to BRN, tried to break IRH.  Covered when it came back into the range. Made 15 points.

Update @ end of day



2) BOF of PDL/PDC.  Went long above MSP, thought PP and critical mass would help.  Did not move as expected.  Covered at 10 points loss.

Wednesday, 7 May 2014

07052014



Nifty opened below PDC but within previous day closing range.  Bias was slightly negative. Next candle tried to go above DO and PDC but failed. Then made three more attempts to break DO but failed. So was looking for a trade on short side.
1) BO of PDL. Short below the day's low. Made a profit of 10 points.
2) BO of Range low/BRN. Made profit of 25 points.

Tuesday, 6 May 2014

06052014


Not traded today, however could find two trading opportunities during the day where I thought Space was a problem.

Nifty gaped up above PDC, was above previous day closing range and RN. Thought bias was bullish.

1) BOF of IRH.  Noticed tails on initial candles, sort of getting sold at higher levels. Then there was a pin bar indicating BOF of IRH, a CT trade. Immediate support was at IRL and RN. Space was a problem here. So no trade.

2) BOF of PDC. Here again problem with the Space, next DP was RN. No trade.

There were two PP trade opportunities for direct BO of RN but again PDC there was very close by.

Conclusion:  Though both trades were CT and space was a problem, reached to the next DP.

Friday, 2 May 2014

02052014

Today's Trades


I was busy in morning.  In afternoon took two trades.
1) BOF of Low of the Day.
Reason to take trade:  No selling momentum, made three failed attempts to break the LOD at that time, critical mass was on short side, thought BOF of MSP will trap them.
Ended as a minor loss.
2) TRAP.
Reason to take trade:  Just a TRAP pattern.
Ended as a scratch.
Now after reviewing the trades, it seems like this could have been avoided.  Reasons, no selling momentum, pin bar (entry bar) indicating no order flow below it.


For comparison, trades done by ST from http://www.niftynirvana.blogspot.in