Interesting is all I can say. I am still bearish over medium term but short term is bullish no doubt. Lets see if we can test 5600-5650 levels. I am shorting at 50 point intervals for now. Scaling in. I dont think we will be able to sustain above 5610..but let us see if it will work out over time.
My current positions -
Short 1 lot at 5450
Short 1 more lot at 5500
Will short 1 more at 5550 and 5600 and then wait and watch.
Even though I say 'lots' above its a ratio of what I am doing. Meaning 1 lot can mean 10 also depending on the size if you know what I mean.
Let us see. I am a positional trader not an intraday one. Some folks seem to think I am over analysing and I can see what they are seeing from their perspective. Its all about timeframe. I mean an intraday trader cannot come here an make sense of what I am doing. That wont happen. My timeframe is 1 to 3 weeks. Remember that.
If it does not work out for you then please quit this blog. I will take a little bit of drawdown to make bigger gains. If you cannot stomach it then this is not for you.
Best.
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7 comments:
Hi lee - Quote - I mean an intraday trader cannot come here an make sense of what I am doing.
I am a day trader 98% becoz of my domestic schedule. I make sense. every 100-80 points i am shorting when nifty has broken from 5600 levels. If no one can't trade ur levels, then "they can keep in mind and trade the levels" while trading. it's a good input.
Hi Sujatha,
Appreciate your comments.
I know more than 99% folks here appreciate my inputs but few folks mailed me saying that I am over analysing. Which is why I started thinking and posted this wondering if TIMEFRAME is the problem.
Even if 1 person appreciates my posts, I will continue posting!
:)
Best,
Lee
Sir,
Interesting Concepts on Niftystars.blogspot.com, I am surprised by what has been written on that Blog
Keep posting ur nice inputs.
Read it Thanks
going short dangerous now..
my system had given buy signal at last day closing with the tgt of above 5608...
after 5608,50 little correction and than close above 5630 will open probability of 6200,6350..
Hi Vijay,
Can you post your counts. From the top I mean. It will be interesting to see.
Thanks,
Lee
hello sir,
ur valuable ccomments with the charts are valuable for a trader.
keep us guiding.
parminder
Hi Lee,
I prefer to wait till it goes to top and turns down (when Nifty comes below Agni level)and start shorting. Like your method short at high(say 5600), short again at 5500, then 5464 etc. and cover it when we feel it is near bottom. And go long once again Nifty goes above Agni level. That way risk is less as we move along with the trend
Hope you are doing fit & fine.
With regards
Balanandan
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