As anticipated, yesterday was a green day again however I could not add fresh shorts to top up my existing shorts since Mkts didnt reach 2800 levels.
From an intraday perspective, NIfty stayed trapped in my M3 & M4 levels yesterday hence everytime it reached my M3 levels I was longing intraday since I didnt see any downside to Nifty yesterday... generated nice 4 trades intraday for 15 point each.
Today, as expected again will be a DOWN day and I expect next week to get worse. I will continue to hold my swing shorts (initiated from 2850 levels) for targets 2630. I will add more shorts if I see 2825-50 levels again next week (though very remote chance). At 2630, I plan to book 220 points profit and open a swing long with SL 2600 ... If my 30 point SL is hit I will get back into shorts again with SL 2650.
Today's Magic Numbers
NF = 2705, 2734, 2765, 2780, 2805
Cheers
SH
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On a daily basis I will be giving 5 magic numbers in ascending order..Lets call them M1, M2,M3,M4 & M5 respectively.
Each of these levels are important supports and resistances, I would not expect the mkts to fall below M1(hence safest place to initiate a long with SL 10 points below M1) and would not expect mkts to go above M5 (safest place to short with SL 10 points above M5 ). These trades should be 90% accurate on normal days. Targets are M2 for longs and M4 for shorts respectively however if the difference between the two levels is more than 40 points I usually book around 25-30 points and wait for next opportunity.
Similarly M2, M3 & M4 can be played on both sides with 10 point SL for 70-80% accuracy. However I personally do not start trading on on magic levels in first 20-30 minutes to let the overnight noise die down.
Cheers
SH
Setting this blog up to document my trading views on Nifty and other stocks(intraday, swings and positionals), posting my chart analysis and other educational material for educational use only. This is meant to be taken as views and not trading recommendations.
IMPORTANT NOTE
Dear all,
From today I will not post my premarket blogs here on this site. Some miscreants are copying them shamelessly everydays and are now even trying to start a paid service using my calls.
However, I am starting a new blog which will strictly be 'INVITATION ONLY' where I will post my premarket calls and swing calls from today. To limit readership to select few genuine traders I might require some personal information like phone numbers, real name etc before I grant access.
In case your are interested, please email me on stock.hunter@yahoo.com with following details:
1. Real Name
2. Telephone Number
3. IP Address of the computer you use
Once I have recieved the above details, upon my discretion, I will grant you access to the new blog.
I will continue to update this blog with information on calls that are already closed so that no one can use them in live markets.
Cheers
SH
From today I will not post my premarket blogs here on this site. Some miscreants are copying them shamelessly everydays and are now even trying to start a paid service using my calls.
However, I am starting a new blog which will strictly be 'INVITATION ONLY' where I will post my premarket calls and swing calls from today. To limit readership to select few genuine traders I might require some personal information like phone numbers, real name etc before I grant access.
In case your are interested, please email me on stock.hunter@yahoo.com with following details:
1. Real Name
2. Telephone Number
3. IP Address of the computer you use
Once I have recieved the above details, upon my discretion, I will grant you access to the new blog.
I will continue to update this blog with information on calls that are already closed so that no one can use them in live markets.
Cheers
SH
How to trade my magic numbers
On a daily basis I will be giving 5 magic numbers in ascending order..Lets call them M1, M2,M3,M4 & M5 respectively.
Each of these levels are important supports and resistances, I would not expect the mkts to fall below M1(hence safest place to initiate a long with SL 10 points below M1) and would not expect mkts to go above M5 (safest place to short with SL 10 points above M5 ). These trades should be 90% accurate on normal days. Targets are M2 for longs and M4 for shorts respectively however if the difference between the two levels is more than 40 points I usually book around 25-30 points and wait for next opportunity.
Similarly M2, M3 & M4 can be played on both sides with 10 point SL for 70-80% accuracy. However I personally do not start trading on on magic levels in first 20-30 minutes to let the overnight noise die down.
Cheers
SH
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