Nifty cracked yesterday as expected and closed on its days lows. It closed below the channel line today and one more close below the channel line today can make us go below 2500 in coming days.
All global indeces have made a new low as compared to Oct 08 lows and I wont be surprised if NIfty follows suit.
My swing targets of 2630 was achieved yesterday for shorts initiated at 2850. Thats a clear 220 point profit on swings. However I had booked my swing shorts at 2650 and bought some 2600 puts out of the profit.
Today if it does a small gap down and NF holds above 2600-2610, I will try and go swing long with 2590 as SL for targets 2790.
Below 2600-2590 I will go swing short for targets 2500/2450.
Yesterday, intraday magic levels also played very well with NF opening below M3 levels and closing slightly below M2 levels.
Intraday magic numbers
NF - 2585, 2605, 2645, 2665, 2695
Swing recommendations
Besides NF swing views shared above, some views on stocks (all cash levels).
1. Infosys - above 1230 long with SL 1215 for targets 1300/1330 in coming days. Below 1220 short with SL 1230 for targets 1150/1120.
2. REL Capital - Buy around 324-320 with 318 as SL for targets 380 . Sell below 322-320 with 325 as SL for targets 290.
3. Relinfra - Buy around 440-445 with 435 SL for targets 510. Sell below 440 with SL 446 for targets of 400.
4. SBI - Buy around 970-975 with 965 SL for targets of 1050. Sell below 965 with 975 SL for targets of 900.
More to follow as and when I see the right setup and levels.
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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