I ll share in this post some trading ideas along with charts. These ideas will be personal and purely technical in nature. Plz. do not take this post as trading tips/calls..sharing just for educational purpose. However, If you really want to play these ideas, your primary goal should be risk management. Profit objectives will come later. Discussion, preferably on structure and trade setup, are acceptable in the comment section.
Hope you will enjoy this post as it progresses.
Trade safe, stay healthy. Hit like, comment.
Regards Bravetotrade
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Stop for this trade could be below 281
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Alright fellows..have fun and trade safe. Dun forget to take into consideration the risk management first. Take a trade only if it suits your risk management rules.
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A triangle formation but We ll have to look for direction of breakout.
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This stock is however in a strong uptrend.
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The above setups may not be the best ideas in the world and may not be the best trades to earn but they are certainly the best opportunities to learn.
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Let us review the above ideas.
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Sterlite opened strong in a weak market but there was no clear buy signal. Rather there was a buy signal later near 271 later. Also those who shorted below 281 would v made money.
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No buying signal triggered in IBULHSGFIN
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I ll consider bharti tomorrow as a shorting candidate below 296.
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*496
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buying signal was fired at 355 in the morning and had a nice move till 360. I expect more upside above 360 break.
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Tatastl had a nice breakdown below 693 up to 687.10 I expect more downside with in the down-channel.
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Arvind was my star performer but on the downside. Had a nice brkdwn below 419.50 upto 412.55 pivot level. Expecting more downside.
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kiri was another short performer.
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I traded these stocks for intraday. Currenly in no position in any one of these.
Hope we learned something. All the best.
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Tatasteel moved on expected lines.
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KiriInd also did well.
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Bharti was a nice short candidate below 496.50 ( as expected).
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As I said I would never short Motherson, the stock had a beautiful bounce today right from the support zone. I could not believe that support zone was so accurate.
@Bravetotrade, Is there setup like RSI where we can plot on the chart and see the pivot movement?
Bravetotrade
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@AkshathBharathi, ok u mean strategy. Yes there are many free strategies available. You can right click on chart and select insert indicator. From the menu box select strategy that u like. I hope u ll find some useful stuff.
AkshathBharathi
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@Bravetotrade, "The pivot that I mentioned in this post was the "Daily Pivot support" level calculated by the formula."
Can you tell the formula?
Bravetotrade
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@AkshathBharathi, Nothing fancy bro. Simple pivot points and Support Resistance points.
Pivot point (PP) = (High + Low + Close) / 3
Middle School
Pivot Points
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How to Calculate Pivot Points
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The first thing you’re going to learn is how to calculate pivot point levels.
The pivot point and associated support and resistance levels are calculated by using the last trading session’s open, high, low, and close.
Since forex is a 24-hour market, most forex traders use the New York closing time of 4:00pm EST as the previous day’s close.
Pivot Point Calculation
The calculation for a pivot point is shown below:
Pivot point (PP) = (High + Low + Close) / 3
First resistance (R1) = (2 x PP) – Low
First support (S1) = (2 x PP) – High
Second resistance (R2) = PP + (High – Low)
Second support (S2) = PP – (High – Low)
Third resistance (R3) = High + 2(PP – Low)
Third support (S3) = Low – 2(High – PP)
But you dun have to calculate. It's available at trading view and almost all trading platforms.
Bravetotrade
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@AkshathBharathi, :) sorry I dun know how I copied this stuff. Just read the formulas only if you want.