Saturday, 30 August 2014

Performance Review for August 2014


Click here Performance Review to view it for the month of August 2014.

Due to my full time job, I have been able to trade only the morning session.  This month market has not given good setups in the morning to trade.  I cannot complain.  That is the way market is.  Hope for the best next month.   

Thursday, 28 August 2014

Chart of ZEEL


The above is a daily chart of Zee Entertainment.  As you would notice it is at its range low, in fact today gave BOF of multi month range low (purple trendline).

Cannot we apply the same DP trading tactics here and buy on the first sign of reversal?  What you say?


Wednesday, 27 August 2014

27082014


Nifty opened 20 points full gap up and made an initial range.  Nifty traded most of the day within this 15 point initial narrow range. Finally broke it on the down side but came back into the range.

In hindsight, failed range BO was the only trade opportunity today.

Tuesday, 26 August 2014

26082014


Nifty opened full gap down about 18 points but did not go further down.  Waited for the BPB of PDC to go long which did not come.
So no trades today in the morning session.

Then it remained in the narrow range most of the day between IRL and PDC.  Finally it broke down below IRL but not moved much and came back into the range. 

Monday, 25 August 2014

25082014


Nifty opened near PDH/PDC and broke the PDH in its initial move up
1)  BPB of PDH/PDC.  Went long above RN as it was very close.  It did not move much and in a kind of complex pull back hit my initial SL.  Loss of 9 points.
2) TRAP.  It was moving well, but I had to close my position around noon time, so booked it at 8 points of profit.
No other trades in the morning session.

In hindsight, it appeared the break of Range Low was a very good opportunity to go short.  If taken, could have been trailed to PDL successfully.

Friday, 22 August 2014

22082014


Nifty opened just above the PDC and IR formed.  As bias was up I was looking to buy at good setup in the morning session but unfortunately did not get any.  There was a test of IRL/DO in morning but was not confident to get into that and skipped. So no trades today.

In hindsight, later in the noon time there was a good BOF of IRL/DO and it did reach to PDH.  Then there was a TST at PDH of low probability one.

Thursday, 21 August 2014

21082014


Nifty opened near PDL/PDC but failed to break the PDL. There was a nice pin bar, the first candle, indicating rejection of the price below PDL.  Waited for the pull back after the initial move up.
1) BOF of PDL/PDC. This moved well breaking the BRN, PDH and all time high.  Booked it when there was a WRB followed by a pin bar and I was in good profit of 35 points and trading only the morning session.
No other trades.

In hindsight I could spot two good trade setups as marked on the chart.  One was BOF of PDH and another one was again BOF of PDL/PDC or BOF of LOL PDL/PDC and LOD. 

Wednesday, 20 August 2014

20082014


Nifty opened near PDC and remained today again in a 25 point narrow range.  There was no trading opportunity in the morning, so no trades today.

There were PDC, BRN and PDL in between this narrow range.  Could not find any good trade setup on today's chart.

Tuesday, 19 August 2014

19082014


Nifty gaped up above PDH about 30 points.
1) BPB of BRN.  This did not move well. Scratched at loss of 3 points.

Nifty consolidated today after breaking the all time high yesterday and traded mostly in the 20 point narrow range.

Monday, 18 August 2014

18082014


Nifty gaped down about 17 points but immediately filled the gap and broke the PDH.
1)  BPB of PDH.  It moved well.  Booked at 20 points of profit around 12 noon as I had to call it a day.

Today was a type 1 trend day without giving another good opportunity to ride the trend except the TRAP entry as marked in the chart.

Saturday, 16 August 2014

Educational Video II



If you are planning to enter into the stock trading profession, watch this very good educational video by Mr. Pankaj Jain.  It is in Hindi.

Thursday, 14 August 2014

14082014


Nifty opened 12 points gap up and shot up once it crossed the high of 12/08/14. There was no pullback to enter in the up move.  There was no trade opportunity till 11:45 a.m. So no trades today.

After assessing the whole day's move, it seems it was a tough session to trade, ahead of long weekend.  Most of the day it remained in a narrow range just above PDH initially and then channeled.

Wednesday, 13 August 2014

13082014


Nifty today opened 15 points gap down but initial move was up.
1) BPB of IRH.  Went long above PDH as the PDH was very close.  It moved 20 points in my favor but then there was a deep pull back to PDH.  Could manage to get only 5 points.
No other trades.

My work schedule will allow me to trade only the morning session from now onwards for the next few months at least. 

Monday, 4 August 2014

Friday, 1 August 2014

01082014


Nifty opened full gap down.
1) BPB of BRN on up side. This was traded in the gap and it filled the gap. Booked when it filled the gap with the profit of 39 points.
2) BPB of BRN on down side. It also moved very well.  Booked it around NS 7600 with the profit of 63 points.

I am also going to post Performance Review for the month of July 2014 today itself.  It will be under "Performance Review" section of the blog.