I am posting my magic numbers for BAJAJHIND on request of our fellow ichartian R.Dakshinamurthy for intraday 30th Jan as well as for swing.
BajajHind closed at 54.95 yesterday which is 3.5% down. For swing, it has a major resistance at 62 and the next immediate support is at 49. Below 49 it can fall to 25 hence a short is recommended at 48 SL 52. Above 62 it can go upto 85 hence a long is recommended at 63 SL 60.
Intarday magic numbers for today for this counter are 50.60, 52.50,56.50 &59.00
Cheers
Friday, January 30, 2009
30th Jan 09
Yesterday due to some exigencies I couldnt trade at all myself however got some trades done through my broker over the phone. Overall i was happy to see i exited my longs at the right time and my broker was able to get me a short at 2850 levels again yesterday morning as per my instructions. I had commented in SB that the days high wont be more than 2880 and one should short at around 2880 levels if they come. I also mentioned that we will see 2800-2810 levels on Thursday or Friday max, to my leasant surprise we saw them yesterday itself.
I was expecting Nifty to expire between 2800 and 2850 so that condition also got met... based on this only I had written 2900 calls 6 days back for feb series.
Anyways, I am currenlty short on 2900 calls and NF as well. However something in me tells me this time NF might not reach my target levels of 2650 again.. lets see how things progress and we will change our stance accordingly.
Educomp intraday magic numbers did amazingly well yesterday, swung 5 times between 1760 and 1805 and thats 40 x 5 = 200 Rs cool profit per share within one day.... the not so good thing was that I couldnt trade them since I was away.
Anyways... markets open on most of the weekdays so will get my chance again on educomp today.
Intraday magic numbers for 30th Jan 09
NF = 2712,2752,2810,2852
Educomp = 1730, 1760,1790,1830
Swing levels
Same as yesterday, ICICI swing short position should have been initiated as per my levels since it opened at around 420 yesterday.
Cheers
I was expecting Nifty to expire between 2800 and 2850 so that condition also got met... based on this only I had written 2900 calls 6 days back for feb series.
Anyways, I am currenlty short on 2900 calls and NF as well. However something in me tells me this time NF might not reach my target levels of 2650 again.. lets see how things progress and we will change our stance accordingly.
Educomp intraday magic numbers did amazingly well yesterday, swung 5 times between 1760 and 1805 and thats 40 x 5 = 200 Rs cool profit per share within one day.... the not so good thing was that I couldnt trade them since I was away.
Anyways... markets open on most of the weekdays so will get my chance again on educomp today.
Intraday magic numbers for 30th Jan 09
NF = 2712,2752,2810,2852
Educomp = 1730, 1760,1790,1830
Swing levels
Same as yesterday, ICICI swing short position should have been initiated as per my levels since it opened at around 420 yesterday.
Cheers
Thursday, January 29, 2009
29th Jan 09
29th Jan 09
Yesterday NF rallied..and rallied like anything. Some people said its short covering rally, someone else said fresh buying etc etc. However later the European and then US markets proved it was a global phenomenon rather than anything specific to India. From the past few days, Indian mkts have started pre-empting US markets in some ways, they tend to rally or drop ahead of US, which gives me an impression that the FIIs have decided to first trade in emerging mkts and later follow up in U.S
Anyways, yesterday NF opened at around 2790 as expected and continued its 45 degree up journey to finally stop at 2850. I booked my swing longs at 2850 with 200 points profit but still holding shorted 2900 CE (Feb) which are at 100 now (48 points in loss approx). On an intraday basis I initiated 2 longs at 2800 and 2825 booked with 20 points each and one shorts at 2818 which hit my 7 point SL. These trades were based on my intraday magic numbers for NIfty.
Did one more intraday trade, longed EDUCOMP at 1723 and booked at 1788 which gave 65 points profit. These again were based on my intraday magic levels on Educomp (thought didnt share them in my blog). I should have shorted at 1788 but skipped the trade since it was very late in the day.
ICICI, I opened swing shorts at 400 which hit my 410 SL and closed right there. I still believe ICICI can fall hence will open longs only if it crosses 420 now.
Intraday Magic levels for 29th Jan 09
Todays NF magic levels are 2826, 2879 and 2997
Todays Educomp magic levels are 1730,1760 and 1805
Swing position levels
Same as yesterday, I will short NF around 2880-85 SL 2900.
ICICI long levels are 410 and above however I have revised them to 420. Right now I will sell below 410 SL 420.
Educomp levels stays as yesterday.
Cheers
Yesterday NF rallied..and rallied like anything. Some people said its short covering rally, someone else said fresh buying etc etc. However later the European and then US markets proved it was a global phenomenon rather than anything specific to India. From the past few days, Indian mkts have started pre-empting US markets in some ways, they tend to rally or drop ahead of US, which gives me an impression that the FIIs have decided to first trade in emerging mkts and later follow up in U.S
Anyways, yesterday NF opened at around 2790 as expected and continued its 45 degree up journey to finally stop at 2850. I booked my swing longs at 2850 with 200 points profit but still holding shorted 2900 CE (Feb) which are at 100 now (48 points in loss approx). On an intraday basis I initiated 2 longs at 2800 and 2825 booked with 20 points each and one shorts at 2818 which hit my 7 point SL. These trades were based on my intraday magic numbers for NIfty.
Did one more intraday trade, longed EDUCOMP at 1723 and booked at 1788 which gave 65 points profit. These again were based on my intraday magic levels on Educomp (thought didnt share them in my blog). I should have shorted at 1788 but skipped the trade since it was very late in the day.
ICICI, I opened swing shorts at 400 which hit my 410 SL and closed right there. I still believe ICICI can fall hence will open longs only if it crosses 420 now.
Intraday Magic levels for 29th Jan 09
Todays NF magic levels are 2826, 2879 and 2997
Todays Educomp magic levels are 1730,1760 and 1805
Swing position levels
Same as yesterday, I will short NF around 2880-85 SL 2900.
ICICI long levels are 410 and above however I have revised them to 420. Right now I will sell below 410 SL 420.
Educomp levels stays as yesterday.
Cheers
Wednesday, January 28, 2009
28 Jan 09
Yesterday NF made a low of 2701 which was one of my magic number.... the next magic levels which i didnt post in my blog but shared in icharts SB and with other friends on YM were 2740 and 2775. NF high was 2777 which was close to my magic level again.
Intraday Magic levels for 28th Jan 09
2751, 2798, 2821 & 2869
Swing position levels
My last swing trade on NF initiated on NF on Friday was long at 2650 SL 2630. NF closed at 2777 yesterday and looking at SGX should be able to touch 2790-2800 at the open. I will continue to hold if it opens and stays above 2798 (my magic level).
Some of the other stocks which I have recently started tracking and trading are ICICI Bank, Educomp, . My swing views on them are as below.
ICICI Bank - Strong resistance around 405 levels and support near 350. Good opportunity to short at around 400 levels SL 410 and go long at 411 SL 405. On the down side go long around 350 SL 340 and go short below 340 SL 350.
Educomp - Strong resistance at 2000 level and support at 1500 levels. Good opportunity to short at around 1980 levels SL 2010 and reverse buy above 2010 SL 1980. On the downside buy around 1520 levels SL 1490 and reverse short below 1490 SL 1520.
Cheers
Intraday Magic levels for 28th Jan 09
2751, 2798, 2821 & 2869
Swing position levels
My last swing trade on NF initiated on NF on Friday was long at 2650 SL 2630. NF closed at 2777 yesterday and looking at SGX should be able to touch 2790-2800 at the open. I will continue to hold if it opens and stays above 2798 (my magic level).
Some of the other stocks which I have recently started tracking and trading are ICICI Bank, Educomp, . My swing views on them are as below.
ICICI Bank - Strong resistance around 405 levels and support near 350. Good opportunity to short at around 400 levels SL 410 and go long at 411 SL 405. On the down side go long around 350 SL 340 and go short below 340 SL 350.
Educomp - Strong resistance at 2000 level and support at 1500 levels. Good opportunity to short at around 1980 levels SL 2010 and reverse buy above 2010 SL 1980. On the downside buy around 1520 levels SL 1490 and reverse short below 1490 SL 1520.
Cheers
Saturday, January 24, 2009
Intraday magic numbers for Tuesday 27,Jan 09
NF = 2701, 2625, 2585
Swing positions
Intermediate term swing is down hence sell on rises is advisable. For eg my last swing trades were short at 2879 covered at 2710 and the short again at 2855 covered at 2665. Nifty spot major support at 2650 hence a buy close to 2650 with 2620 SL can be initiated.
Positional and chart analysis to follow tomorrow.
Cheers
NF = 2701, 2625, 2585
Swing positions
Intermediate term swing is down hence sell on rises is advisable. For eg my last swing trades were short at 2879 covered at 2710 and the short again at 2855 covered at 2665. Nifty spot major support at 2650 hence a buy close to 2650 with 2620 SL can be initiated.
Positional and chart analysis to follow tomorrow.
Cheers
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