Nifty Positional View - 12.02.2015

Positional: Nifty hit an all time high and then a correction of nearly 50% has already completed. Daily Chart suggesting a move up to all time high as-
1) Price moved up after taking support at last Flip
2) Price Closed at last big DP
3) Price closed above MBB
4) OI range is 8600 ~ 9000. Support rising on 8700, but still some more time required.
-- Concern is only the last Fast Downmove, It may act as a fluid or may assess its strength --

for Intraday trades-
1) Mkt has moved from Last Lower Range to higher range.
2) Now Price is at Range low of 2nd Range.
3) For Intraday, i will be looking for an upward bounce from recent DPs til la Strong BOF occurs for downside.
-- Delhi polls are over & today's inflation data can cause a hit down for a small time, till longer tf trend asserts itself --

Nifty- Positional View - 19.01.2015

Positional:   Nifty is zooming to highs once again. The current move started from a BOF. It should touch last high, which is near by. Lets see daily chart --

+ ves..

1) Market is in Uptrend

2) New Ranges are Higher Ranges

3) Move started from a BOF, so a good one. Can expect it till all time high.

4) Price taking support at MBB in daily chart
5) Last bounce ended up at 8000, this may go less than that.

- ves..

1) Second Gap up done which never touched the old day range. A 3rd gap or gap down will call for a move Exhaustion

2) Candles forming are smaller ones

3) Yesterday was an Inside day, but today's move wasn't catching up.

4) 8700 has maximum OI.

My preferred position will be a Short on Strong BOF near 8700. Will change views only if price action speeds up approaching DP.

Discontinuation of my Daily Trade Updates !!

Hi All,

 This is my last post on my Intraday Updates.

 Though i will keep on Trading regularly as this is my prime business, but due to some New Business startups, i wouldn't be able to post here daily. Moreover, I think there is nothing new to post & share with you.

 I started this blog regularly after getting inspired by ST of niftynirvana blog. It was a very fruitful journey. I started it to contribute &help others, but as time moved on, i found myself getting benefited more from my own daily reviews, routine, mistakes & improving further.

In my Trading journey, i met with few very good traders & you can also keep on visiting their blogs at-
1) http://niftynirvana.blogspot.in/        (A Regular one for Intraday)
2) http://www.charttechnicals.blogspot.in/        (on Off for few days)
3) http://tradingblisspoints.blogspot.in/             (Have a good hand on Positionals & stocks also)

Though i will not be posting regularly, but i will keep on improving my trading system & updates on it.
You all can join/ subscribe this blog for some newer posts or if want to clear some doubts you can freely mail me at deven17@gmail.com
I will be a regular visitor of above mentioned blogs, so you can catch me over there also!


Lastly, Thanks to all, who posted here, shared this blog & keep me motivated.

Wish you all a very Happy New Year & successful Trading career !!

Best Regards,
T. Deven Malhotra

22.12.2014

Intraday: Nifty was Ranging Initially. Was planning to short. but after breaking IRL, it couldn't go to even PDL.
1) Long on BOF of IRL. Was not confident in hindsight as move was too slow. Kept SL at BE and waited. Patience always reward & sat till the end.
No further trade.

19.12.2014

Intraday: Another Gap up.
1) Short on IRH. Closed at first trouble area &
2) Reversed to Long. Closed at IRH. No further trade.

18.12.2014

Intraday: A Counter Trend Gap. Planned to go long.
1) Long on BOF of PDH. Closed in big red candle. No other trade.

17.12.2014

Intraday:  2 Trades today-
1) Short on BPB of PDC/ BRN. Closed at big bullish candle. Entire move retraced.
2 )Long on TRAP at IRL. Closed below BRN.