Wave's Mantra

Tuesday, 30 July 2013

Nifty Update for 30 July - Continue to trail the stop loss 5920

Our Short initiation @ 6020, now almost 190 point profit in a just 3 days... What to do now ?
We don't know when market will take turn but we need to systematic approach to ride the trend. So please consider 5920 as stop loss. You can book the partial profit if you trade in multiple lot.

We can see in the below chart 5750 -5800 is the Resistance zone area for this down move from 6093.
Support should act as resistance now. If the nifty break below 5750 then there could chance of free fall.
But its very early to say as Nifty has to face series of resistance now.
Happy trading!!!

Yogi

Friday, 26 July 2013

As per prediction, Target Achieved for Nifty - update for 26 July 2013

As mentioned yesterday Nifty update, Prices falls below 5905. Also, it didn't respect the Lower Support line of the Channel which indicate Nifty turns into aggressively to down.
We already in the profit of 120 points on Nifty in 2 days.
Now the strategy is to keep trail the stop loss and ride on the bear market.

1st Target Achieved for DLF Call for 26 Jul 2013

1st Target Achieved as mentioned on 22 July Buy Call on DLF.
DLF price made a high 177.90 today reversed to open price. Keep the partial buying continue for 2nd target. Happy Trading!!!

DLF Buy Call 169
Partial Profit @ 1st Target - 9 points * 1 Lot (1000) = Rs. 9000/-

Wednesday, 24 July 2013

Nifty Update - 24 Jul 2013 - Profit booked

Nifty reached to our nearest to our target 6093 yesterday. we have booked the profit on this level. Lets wait for the Short Call now.

Buy Call on 7th July @ 5850

Booked partial on 19th July @ 6050

Sold completely on 23th July @ 6082

Profit - 232 points on Nifty. Happy Trading!!!

Tuesday, 23 July 2013

Nifty Update - Trail the Stop Loss - 23 July 2013

It looks the up move(5566- 6057) strength is becoming slow day by day which indicate me corrective rally but still respect the stop loss level... I will suggest here to Trail the Stop to 6002. Expecting Gap up action today to reach our 2nd target 6100. If it fails to do so, then please book the profits below 6100.