Hurst Cycles Trading Software - Accurately Forecast Nifty and Stock Cycles

Thursday, March 26, 2009

Keeping things small..

Sorry folks for the late update...not much to say...the bull juggernaut continues...Just watching how long it goes..

I am short but in smaller size..and hedged..so not going to worry about all these silly upmoves...Its too late to go long so definitely not doing that..

If we do get some kind of pullback soon, we shall see then.

For now, short and watching...I will take off the hedge if I get an hourly sell..till then maintaining status quo.

Charts later..Bit busy today. I have some interesting thoughts to share but not now.

Best.

20 comments:

Yoda said...

I'm still holding, Lee ... deer-in-the-headlights syndrome happened.:)

Abhimanyu said...

the Sharp up moving channel...

Abhimanyu said...

Hummmmmm ...Silly upmoves....
As far as possible one Should take advantage of every move to earn money
No matter it is up or down...

shaq said...

this is just relentless...had heard of pre election rally...n now seeing it...u can see all sorts of bullish figures now 3700 ,4K!!!...hope to catch up with some analysis here soon..

Abhimanyu said...
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Abhimanyu said...

Shaq
As is said earlier
candle stick chart or any line chart is showing sharp up side channel which is slowly moving up
towards 3150.
As per my habbit of looking US future .I sold (Stop loss for profit) my NTPC call
But no matter after all Profit is profit small or big ..
Again today FI ppl took market up
Aban Exploded, 444 was Day high
600 Target is given for it

shaq said...

yes even i see a sharp channel upwards...a dip will also take support on lower line arnd 2900...with dow closing in red,hopefully we will get a dip on mon..to clear some shorts...

Abhimanyu said...
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Abhimanyu said...

Shaq
It seems a time has come where we can make profit in shorts as well as long (hedge)
Perfect timing is required
Monday market can go down but it may come up or may remain flat
***As per charts
one can short Renuka Sugar at
around 88-91 or can try put of 85 or 80 The Target is 85-80
For intra day trade & above 92.5 is strict stop loss. Not to carry the position for next day

shaq said...

i agree...but perfect timing is just so difficult practically...also one can keep a watch on Aban ...its become market favourite and can reach higher targets beginning with 600..

Abhimanyu said...

One Can trap Perfect Timing
Just with TA and keeping eye on news which can proov the TA wrong.

As per TA
PUNJLLOYD Renuka Sugar and NTPC
Has chance to come down with at least 5 Rs from their current Spot prices
Dont Trade just check out...
I am also testing my new TA Logic
So far 7-8 times Success trade
N0 single failure So far.

Aban movement is noticed with news and no TA

Abhimanyu said...

Lee,
Current Nifty support around 3070-55 area & next support is 3000
So How about buying Nifty Fut of April and then short for May ?

Lee said...

Deer in headlights..Yeah I know that feeling :)

Abhi, I would play a directional strategy(with hedging IF needed) rather than arbitrage.

Abhimanyu said...

LOL
Bulls on couple of holidays again..

Kaushik said...

Hi Lee,
Good afternoon.
Market reacting from 3125 level we are probably way down again.

Whether I admit or not,last rally(2600 - 3100) badly mauled my finance as well as my ego.I took shorts in indiv stocks which went up 7% a day triggering helluva stoploss. All I read is "market is supreme" but at days end I am the loser :-(
I am down 30% of my capital.So have to have some learning and strict disciplined trade for soemtime future.

Can you please share a little conservative moneymaking strategy for 3000-> 2700 level in coming 2-3 days? I am moderately bearish but think there will be very sharp intraday whipsaws.

Do you suggest taking 1 NIFTY shorts and also buying 1 lot call? How do I plan my trade? How do I safeguard my assets sorry my a**?

Wish you good luck Lee.

Abhimanyu said...

Kaushik,
I guess going below 2860 and staying there for 4 days will be a big sign of end of current bullishness

Abhimanyu said...

PUNJLLOYD Renuka Sugar and NTPC
Target achieved on 30/3/2009 But NTPC recovered quickly and closed in green zone
***This intraday trading idea was just for study purpose. So i did not make any profit in these trades.

Abhimanyu said...

Buy HUL Future
OR
Buy HUL Call of 240 or 245 or 250
above 242-243

Targets 248 - 255

Time 15-20 trading days
Chart Pattern : INVERTED H & S formation

shaq said...

one needs some capital to enter in HULderiv atleast...with market lot of 1k..at kotaksecur u need atleast 50k for 1 lot...with mot much upside if one considers the capital involved..the options are also not that liquid..just some thoughts

Abhimanyu said...

Shaq
u r right
Even I am not taking any position
for HUL Fut.
I would rather prefer HUL call after 6th or 7th April
Dow is 300 points down (12:20AM 31 March IST)
Most of the times such big fall turns next day's US Fut in green zone. And we all know what happens if US Fut r in green zone