Day Three analysis

I have been a bit busy the past couple of days, some things kept me away from the monitor. Trust me, I am not complaining! It's good to take a break once in a while. Although I have only recently started 'penning' down what I analyze, I have been trading for quite some time. So once in a while I just step away from the computer and relax with family and friends. This was one of those occasions. And the way I trade helps me continue living this way.

Anyway looking back on my analysis of Day Two, I had given this call:

"Sell Hindalco, Entry 112. Target 106, 104. Stop Loss 114.

Hindalco is coming out with their quarterly results today. I don't know what to expect out of it but I hope that it will be bad. Yes I'm quite the pessimist. So even if the results are good 114 should be a good point to exit. Yes it is a gamble that i'm willing to take since the risk is very minimum."

Hindalco hit a high of 111.4 and is trading at 102.3. Need I say more? Maybe, next target: 97.

Here are some of the stocks that I might be trading with on Monday:

1. Buy Infosys, Entry: 2410-2420. Target: 2540+. Stop Loss: 2360. ETA: 2 weeks.

Well it's quite simple really, N. R. Naranyan Murthy!

Yup he's back folks and the stock already accounted for his return on the 31st of May. Infy opened at 2342, day low, and never looked back, touching a day high of 2434.9 and closing at 2411.7 (that's +63).

OBVIOUSLY it was a coincidence, right? Right? Next.

2. Sell BHEL, Entry: 201-202. Target 197.5. Stop Loss: 204.3. ETA: 1/2 days.

3. Buy RelianceInfra, Entry 360. Target 370. Stop Loss: 356. ETA: 3 days.

I don't feel too good about RelInfra though. If the market starts falling you can see levels of 350 and below on Infra in the next two trading sessions.

Good luck trading and may the market be with you ;)

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Day Two review - Tuesday, 28th May 2013

The market gave everyone a run for their money today. HeroMotoCo and BHEL gained big time and among the top Nifty gainers was ONGC! As mentioned in an earlier post, I covered one lot of ONGC at 330. That is a total profit of Rs. 8500.

I didn't trade today and I don't think I will be trading tomorrow either, but I will give out my calls for tomorrow. 

Today, I gave out these calls and one of them was almost spot on:

1. Buy BhartiArtl, Entry: 310. Target 320. Stop Loss: 304.

BhartiArtl

Bharti touched a day low of EXACTLY 310. Damn I love it when the entry and exit points are spot on. It makes your trades less risky and I believe it is almost always possible to get the perfect entry points. Anyway Bharti made a day high of 317.4 and closed at 314.8, which is still on track towards the target. Can hold for 320+ tomorrow.

2. Sell Hindalco, Entry 112. Target 106, 104. Stop Loss 114.

Hindalco

I gave a safe entry point of 112 even though Hindalco didn't go over 111 today. For those who actually sold Hindalco futures at around 110, tomorrow might be their lucky day. Hindalco came out with their annual reports today and it wasn't a pretty picture. I expect to see it open with a gap down tomorrow. 

I'm happy with the way things are turning out. So far I've been right about my targets 4/4 times with the exception of Hindalco. Let's see what's in store for tomorrow. Have a good evening folks. 

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Day Two Analysis

I had a good start yesterday. I am currently holding one lot of ONGC May futures, bought at 322, CMP 326.5. I don't think I will be trading today but if I do it will be one of these that I will trade with:

1. Buy BhartiArtl, Entry: 310. Target 320. Stop Loss: 304.

This is a good buy since it's just coming off the bottom Stochastic line and the bottom Bollinger band, indicating that it's been over-sold. I expect it to hit 340 sometime during the first week of June but for today I think a target of 320 is quite achievable IF the market supports.

2. Sell Hindalco, Entry 112. Target 106, 104. Stop Loss 114.

Hindalco is coming out with their quarterly results today. I don't know what to expect out of it but I hope that it will be bad. Yes I'm quite the pessimist. So even if the results are good 114 should be a good point to exit. Yes it is a gamble that i'm willing to take since the risk is very minimum.

That's all for today. I will be active on Twitter today, hopefully. Will try to give some updates there. Happy trading :)

Day One review - Monday, 27th May 2013

Well I had a good start. Although some of my entry points were not hit today, most of my targets are right on track. I was expecting the market to fall today but nonetheless, some trade did take place.
 
My calls for today were:

1. Buy ONGC, Entry: 320-322. Target: 342. Stop Loss: 317.

ONGC

I knew ONGC would bounce back from 320 and as expected, it did. It hit a day low of 320.5 and high of 329.45. I recommended buying June futures which hit a day low of 323.5 and high of 331.8. I did however end up buying May futures at 322 and am currently holding it at 326.5.

That is currently a profit of Rs.4500.

2. Buy OptoCircuits, Entry: 43.5-44. Target: 48. Stop Loss: 42.5.

OptoCircuit

Unfortunately Opto did not hit my entry point today. Again I expected the market to fall after which I would've entered at 44. But on the upside, the target of 48 was hit and a day high of 49.75 was made today and DAMN what a recovery that was! That graph looks beautiful doesn't it?
So after bouncing back from the (slightly miscalculated) bottom Bollinger band, my target was achieved,

3. Buy Adani Enterprises, Entry: above 215. Target 235. Stop Loss: 212.

AdaniEnter

I didn't trade in Adani today since I was quite hesitant to enter it at day low of 320 which it was trading at till 1:30 PM. I didn't think it would move much but boy was I wrong. I know my entry was above 215 but 220 was slightly too much. Anyway, day low of 219 and high of 227.40. Target on track!



















All in all I think it is a pretty good start. I'm at a profit of Rs.4500 at the end of Day One. I think I will realize my profit on ONGC at 330 tomorrow. I'll be giving out my trades for 28th May in some time now so stay tuned ;)