April 23, 2014

Some bullish stocks with their charts and SL

All charts from icharts.in

APLLTD SL 280


Market outlook

Trend is up with support at 6640... note that trend appears as if it is weakening. The reason is we are at new highs and while markets should have blasted this is not happening and we are seeing smaller bars.

So markets are making new highs but there is no follow through buying.

Option writing points to support at 6000 and resistance at 7000. The deep support may mean that writers are expecting limited upsides but a big correction from current levels.



Trading range 1000 points in MAY?

Option writers are preparing for a big range and volatility in MAY.

They are not expecting markets to cross 7000 in MAY and not break 6000 on the downside. Now 1000 points is a big big range.

This automatically means limited upsides from here while indicating that markets may correct substantially.

Let's see...


NOTE:
1.We will get a better picture on FRIDAY after expiry of current series.
2.Options are very expensive so it may not be easy to earn money.

April 22, 2014

Test trade BPCL

First buy signal was around 370. Since then stock has gone up to 483 and today it was up 4%.

Very often one feels stock has already gone up too much so I will wait for a correction. But then the correction rarely comes.

What to do in such cases? Just jump in and buy. There is however every chance the trade can go wrong but then you must keep an SL. The SL in this case will be at recent swing low at 430 OR the low of today's breakout bar (460).

Follow position sizing and limit loss per trade to Rs.500/-.


Buy signals generated today

Buy signals generated today ... check charts before investing / trading.



Open positions

Best trades:


Market outlook

Trend is up with support at 6640 spot. Note strong resistance in the region 6835 spot.

Break of 6640 will lead to a correction to 6300-6400 levels. The market will remain a buy on dip but as usual one should wait for a buy signal and then buy.


April 21, 2014

Some breakouts

BIOCON has given a nice breakout today...


Market outlook

Trend is up with support at 6640. It is expected that 6600 will not break this series.

Since the trend is up, trade long... don't short.


Intraday analysis

Breakout above 6820F (2.15pm) was bullish. But this did not give much gains and position got closed on trailing SL.