12th March 09

Hi all,

Hope you had a nice few days off from the markets and enjoyed your Holi to the fullest.....

Last 2-3 days have been very good for the global markets since after making new lows they started recovering... this is a technical bounce and the overall trend remains down. However these bear markets rally are quick and fast .. so worth riding and exiting as soon as you are in profits.

Today NIfty might gap up by 3% or more as suggested by SGX. I would for day end and square off shorts and open longs if it is about to close above 2630.

Out of the 4 stock calls, SBI and RelCap have achieved their swing targets. The rest two calls, bullish on Relinfra & Bearish on Infosys are still active.

Intraday magic levels
NF - 2570, 2610, 2635, 2662, 2680

Cheers
SH

09th March 09

Hi Friends,

I was travelling since Thursday evening, visited Mumbai and from there Shirdi. Returned yesterday night hence couldnt write my blog or keep a track of the stocks.

Mkts crashed on Thursday without any rhyme and reasonand recovered slightly on Friday to close at around 2620 which is a resistance zone now. I will wait for teh mkts to open today and change my stock positions accordingly. If mkts stay below 2630 today I will open Nifty shorts with 2630 SL .

On the calls though, Relcap long had hit 6 point SL in longs but after that the short with SL 325 has achieved the target of 290 in no time.

SBI long also hit 10 point sL at 965 however the short at 965 is in profit. It made a low of 911 on Friday which is a shade away from teh target of 900.

Relinfra is still hlding above 440-445 hence still bullish.

Infosys still below 1230 hence still weak.

Intraday magic levels
NF - 2490, 2550, 2590, 2643, 2678

Cheers
SH

05 March 09

It ended up to be a lucky move to hold on to the longs for a day more. Nifty closed above 2600 yesterday hence I am still in longs. yesterday opened longs in ICICI, Relinfra, Rel cap and a short in Infy. SBI can be longed today with an SL of 960.

Intraday magic numbers
NF = 2595, 2620, 2655, 2675, 2710

Cheers
SH

04th March 09

as expected, Nifty continues its downward trend. Swing shorts should have been booked at 2630 yesterday and swing longs should have been opened at those levels with 2600 SL . I planned to square off my swing longs at 2600 and open swing shorts again at 2600 with SL 2630 for tragets 2400-2450 however hiven NS was still trading above 2600 I decided to give my swing longs today as well to see in case NF bounces above 2600 today. If NF does bounce above 2600 today I will keep 2590 as strict SL.

Yesterdays magic numbers made a huge impact, I shorted at 2665 (my M4) with SL 2675. Once it broke 2645 (my M3) it was a non stop ride to my 2685 (M2). I had exited swing shorts at 2690 though.

Todays Magic Levels
NF - 2520, 2550, 2590, 2625, 2655

Cheers
SH

3rd March 09

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

2nd March 09

Hi, Need to rush out for something important hence keeping todays blog short and succinct. Nifty remains in weak zone along with global markets hence as suggested by SGX Nifty we should have a gap down of more than 50 points.

On Friday I had booked my swing shorts at 2680 and re-opened them at 2740, this was shared in SB on Friday. Hence my swing shorts are from 2910 now instead of 2850. However that was purely intraday game hence if someone didnt do it its still ok.

Swing positions - Hold NIfty shorts (initiated at around 2850) last month with TSL of 2800 now for targets of 2630.

Intraday Magic Numbers
NF - 2595, 2630, 2680, 2725, 2775.

Cheers
SH

RSEX strategy

Dear friends,

Being a weekend I decided to share on more strategy I use so that it can benefit you all. Besides my swing levels and intraday Magic levels, I also follow an indicator currently available only on Icharts called RSEX.

I have written exhaustively in the forum (link below) under strategies to help both swing and intraday traders. This post of mine by the way has also become the highest read trading strategy in Icharts within just 2 months of its start and I am getting a lot of thank you notes from across the continent for sharing the strategy since it is making their ledgers turn profitable. I have decided to share more knowledge now through my blog.

Thanks to icharts for this wonderful indicator. Please follow this link for the post and try and read it from start:

http://www.icharts.in/forum/rsex-strategy-posted-on-popular-demand-t1358.html

Cheers
SH