Yesterday our markets followed the global markets and went down sharply. We quit our balance BNF longs and went short in the market. We also booked half our profits in the short position. Below is the trading profit/loss sheet. People who are taking a one month trial are requested to check that their sheet matches with below trades. If any confusion, do email us.
We will put a track record of Bank Nifty Paper trades here for a month for our trial clients and others to see the performance. For our track records we take positions in 240 BNF and accordingly loss & profit is calculated. We do profit booking in half our positions at the targets and balance half we hold till the trend remains.
The broader trend of cash stocks is seen by the percentage number of stocks which are above important support levels. Currently there are 22% of stocks which are above support and 78% stocks are below support. When stocks above support are below 50% we consider cash stocks to be in downtrend and above 50% we consider cash stocks to be in uptrend. Just for your information the cash stocks percentage has been below 50% for majority of the time in last 4 months. This percentage when comes below 10%, we consider the markets as quite oversold and when it is above 90% as quite overbought. Here we also have to see the broad trend of US markets.
Indian Stock Markets should open higher due to higher closing of US markets and then depending on news flow, they are expected to move. As far as we are concerned, we only follow technical charts and take the intraday position accordingly.
In case you wish to give some suggestion you may go to the blog and give your feedback there on the contact form.
Thanks.
neera@crnindia.com
No comments:
Post a Comment