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Technical Analysis Simplified

The objective of this website is to introduce simple mechanisms for trading based on Technical Analysis. Understanding the market psychology, following a trading system consistently, entering and exiting trades in a disciplined manner all is essential for making consistent profits


Dear Readers, this is a purely non-profit initiative and will never become a paid site. Primary objective is to share as much information as possible from real life trading experience to help small traders earn consistently in the market.

Thursday 31 January 2013

Todays Trades 31 Jan 2013 - 2 Success and 1 loss

1. ICICI Bank above 1212 hit 1231. Booked 15 points. No major technical analysis involved here. Previous high of the day crossed and buy signals in MACD 30 min chart.

2. SBI above 2450, did not sustain SL hit. (High volatality due to expiry).

3. Reliance Capital Buy above 474, SL was days low. Reached 478.

Hopefully tomorrow, volatality will come down and we will get better trades.
If you are new to the blog, please read Introduction.

Buy SBI if it crosses and stays above 2450

Intraday Buy Relicance Capital above 474

Intraday Trading Idea - ICICI Bank by above 1212

Intraday Trading Idea 31 Jan - Bharti Airtel

Keep watching Bharti Airtel, In daily charts, the indicators have turned negative, could slide down further.

Key daily pivot level is 346.7. Negative below this level. If the stock goes below 342 and stays there, then down trend confirmed.

Intraday trading idea for 31 Jan 2013 - BHEL

As explained in my previous post here, BHEL will fall if the stock stays below 222.33. Sell below this level. On the other hand if the stock stays above 222 and moves up, the stock will bounce. Keep these two in mind and trade. Do not wait for my entry signals.

If you are new to the blog, please read Introduction.

Intraday Tips for 31 Jan 2013


Infosys, Tata Motors and BHEL could continue their downward journey. Keep in watch list.

Enter any longs only if Nifty is strong. Or when Nifty hits the supports and bounces back. Do not enter any longs in the initial 30 minutes.

ICICI Bank, Axis Bank have turned positive in daily charts. Good candidates for long. Maruti is another long that can be looked at.

Keep all this in the watch list and wait for my updates.

If you are new to the blog, please read Introduction.

Today's trades 30 Jan 2013 - 2 trades success

Dear Readers

I traded two calls today. Sell on Infosys and Bhel. Both were successfull. Please see the charts. The market was volatile as expected due to expiry. The week of expiry and on big news days, technicals will not work 100%.

Wednesday 30 January 2013

Intraday Idea Short Infosys

Keep watching Infosys and short below 2794 if it sustains there.

Intraday - Go Short on BHEL with SL 224.5

BHEL has crossed below its recent support 222. Short for intraday few points gains.

Possibility of Correction NIFTY

Readers, this post is applicable only if you are a positional trader / investor. Nifty made a good runup from lower levels over the past few weeks. Yesterday 29 Jan, it hit a new 52 week high after the RBI policy was announced. This was followed by good selling and market ended in red.

If you look at the daily chart of Nifty, there are clear divergences in MACD, RSI and Stochastics. There is a very good possibility of sharp correction before Nifty resumes its uptrend. Please maintain SLs. This could also give good intraday opportunities for short selling.

Day Trading Tips for 30 Jan 2013 NSE

Dear Readers

Infosys and Tata Steel are likely to fall on Jan 30 if the overall market is weak. Keep this in your watch list for intraday, keep watching my blog for entry.

If the overall market is strong, then ICICI Bank, Axis Bank, L&T are likely to move up and could give some  points in intraday trading. Please keep in watchlist for long.

Tuesday 29 January 2013

Today's Trades - SBI, DLF, Bajaj Auto - All success

Dear Readers

Today I had given real time calls on my blog so that readers can understand my trades real time. All three trades were successfull. See the charts and explanations below.

Todays Intraday tips. SBI

Keep watching SBI and buy if it crosses 2495 and stays there.

Todays Intraday Tip - Sell DLF below 264

Sell DLF if 264 support is broken convincingly.

Todays Intra day tips - Bajaj Auto Sell

Bajaj Auto below days low, please sell with SL 2087

Monday 28 January 2013

Todays Trades 28 Jan 2013

1 winning and 1 losing trade

Dear Readers

Today I did two trades as posted in the morning. A long in Maruti and Tata Motors. One exited in loss and the other in good profit. Read below.

I also provide a trade which I avoided today which otherwise would have been in loss.

1. Maruti Long - Loss

Maruti was a buy for me in the Swing trade and I thought of doing a day trade in the same scrip as UBS upgrade also came in. I thought that this will prevent the stock from falling. However after my entry the stock consolidated and fell down.

Lesson learned. Never buy a stock when it is up on a news. Big players tend to offload stocks on news and small players like us get trapped. This is what happened exactly today. However because of chart signals, I could exit on time.

5 min chart.

1. Maruti opened gap up and at 9:15 the upgrade news came. The stock was not moving up or down, but consolidation. I thought after consolidation the stock will move up and hence bought.
2. SSTO was in buy mode. Rest of the indicators were not strong.

2 min chart

1. Stock started rising after consolidation.
2. No breakout above the days high was observed.
3. 2 out of 3 indicators were supporting.

30 min chart

1. Indicators were positive.
2. I tend to ignore a small doji in 30 min chart which was probably signal of end of upmove.

Why did I book loss and exit Maruti

1. Maruti started consolidating after buy. 
2. While consolidating, indicators in 5 min chart were giving negative signals.
3. Breakout in the same direction and candles went below the EMA line. 
4. Hence the buy position was squared off with a loss. 
5. After that the stock fell continuously and there was no one to buy to bring the price up. 

This is a similar pattern which keeps occuring in Indian markets especially when stocks move up due to a news. Please another trade of mine few days back here.

2. Tata Motors Long - Success

Today Auto Stocks were in favor in the morning. So I looked at Tata Motors. Ever since the gap down on 24th Jan, Tata Motors was steadily rising. Please see the 30 min chart here. 

30 Min Chart.

1. MACD was positive
2. Stock price continuously rising.
3. Candles above EMA
4. RSI rising. 

5 min chart

1. 20 EMA above 50 and 200., EMAs rising and candles above EMA
2. Rising MACD and bullish crossovers
3. Rising RSI
4. SSTO was giving a negative and then tending to cross over positive. 

Tata Motors - Exit with Profit

The stock was steadily trending upwards. In the case of such moves, without much fluctuations around EMA, it is better to maximise profits by riding along the trend. 

A Trade Avoided Today

Many times you make money by not trading. Today Auto stocks were in demand and there were several buy calls for Bajaj Auto. However the days high was never crossed and Bajaj Auto did not give money to anyone. It is always important to understand the chart patterns during the day to decide whether to enter a trade or not. See the chart example of today's Bajaj Auto

Intra Day Trades - Buy Maruti and Tata Motors

Bought Maruti at 10:18 Price 1630
Bought Tata Motors at 10:20 Price 304.45

Day Trading Tips for 27 Jan 2013 NSE

Following Stocks can be considered for day trading on 27 Jan.

1. Maruti - Long.
2. Lupin - Long.
3. Biocon - Short
4. L&T - Long
5. Tata Steel - Long

I do not provide any entry/exit/SL/Targets. Readers are expected to enter based on charts analysis 15 - 30 minutes after the market open.

Please note that next week will be very volatile due to RBI Announcement. Bank Nifty could swing up to 400 points going by the history. This could impact the overall market also.

Derivatives expiry is also this week which could add bouts of volatality.

Day trading is extremely tough in such a week. Being very close to the terminal , having only one open position at a time. Booking small and quick profits will be the key in such a week. Avoiding trading till Wednesday is adviced for new traders.

Wishing you a good trading day and a week !!


Swing Trades - 27 Jan 2013

Update 28 Jan 09:30 AM.
UBS upgrades Maruti to Buy. Stock up 2%. Buy only on a dip during the day.
CESC - Bought at 335
Lupin - Bought at 603


I have shortlisted 2 longs for the following week starting 27 Jan 2013. I will wait for market opening on Monday and see the charts during the day and make an entry. Will give you an update when the position is entered and closed.

For Swing trades, my stop loss is 4% or charts giving negative signal whichever is earlier. I observe this strictly, so profits are not exorbitant. But overall if I do 10-15 trades in a month , I will be in positive with at least 5-6% returns.

Always follow dual time frame strategy when entering a trade. That is if you are trading positional / swing, look at daily and weekly charts and enter only if both are in the same direction. So I post both weekly and daily charts.

For this week, due to the RBI policy announcements, there could be huge volatality. So I am not touching any banking stocks. It is risky to enter all the swing trades before Wednesday.

1. Long - Maruti Suzuki. (Good news + charts giving good signals). Please review the charts below. 

Maruti - Weekly Chart Observations. 

1. Maruti is in weekly uptrend indicated by rising stock prices and EMA
2. Good crossovers of 20 over 50EMA and 50 over 200 in the recent weeks
3. RSI is above 70 and pointing up.
4. MACD is positive above signal line.
5. Weekly volume steadily increasing.

Maruti - Daily Chart Observations

1. MACD cross over the previous day.
2. High Volume bounce from 20 days EMA
3. RSI maintaining support and moving up. (See horizontal support line in RSI in the charts. RSI sometimes gives very good indication of stocks support than actual price support points)
4. SSTO is heading upwards. Fast Stochastics has given a buy. 

SL is 5% or whenever the stock closes below 20 day EMA. 

2. Long - CESC

Very good buy signals in Weekly and 30 minutes charts. 

CESC - Weekly Chart Observations. 

1. Weekly uptrend in tact. 
2. MACD crossover
3. Volume increase and stock bounced from 20D EMA
4. SSTO Buy Signal

CESC - Daily Chart Observations

1. MACD Cross over and positive over past one week and continuing to move up. 
2. Closed above a recent resistance. 
3. RSI is rising and tending to cross above 70. You can see that RSI is touching 70 after October 2012 for the first time now.
4. Fast Stochastics has given a buy.

Friday 25 January 2013

Today's Trades 25 Jan 2013

2 Winning trades and 1 losing trade


Today I made 3 trades, one was exited on loss. But several lessons to learn from these trades. I will also give a trade which I avoided today which will give the readers on how to avoid getting trapped in broker calls. 

Thursday 24 January 2013

Some lessons learned - Day Trading

1. Select a few stocks for day trading before market opens. 2-3 stocks maximum.

2. Trade only if technicals support your trade.

3. Do not hurry to make a trade, analyse the rationale for the trade from 2-3 different angles, read my real trades to understand this more. (30 min chart, 5 min, divergences, pivot, days high etc.)

4. Day trading is not investment and you cannot catch bottom and top. Be fast to enter and exit from a trade. Take small profits, do more than one trades.

5. At any given time do not have more than 2 open positions until you are really experienced.

6. Do not carry any open day trades to next day. Majority of the times you will exit in loss the next day, since morning few minutes will be erratic for any stock and panic exit will be made.

7. Do not trade on any real time news (results, upgrades, order information etc). But if you have a news from previous day, you can trade based on that.

8. Do not go for any paid tips since a vast majority of them do not show right picture of their performance. Also tips do not reach you on time. You will not be able to trade 100% of tips in a given day. All this will result in loss.

There is lot of money to be made in share market. But key is discipline and knowledge. You have to build discipline, knowledge you will get from this blog.

Today's Trades - 24 Jan 2013


Todays trade was on DLF. DLF started falling after opening and my trade was based on observing divergences in the indicators.Later on I saw that Goldman Sachs upgraded DLF and hence the stock recovered. Charts gave advance signals even though the news was not known to me.  Please see charts for details.

Today's Trades 23 Jan 2013

Today was a very good day for me. I made two trades and both in profits. (This is not the case always, there will be losing trades as well which I will post here with my comments)

Short Sell Century Textiles - Success

Today lot of brokerages gave a buy on Century Textiles and it started moving up after market open. But the stock started falling down, overall Nifty was also weakening. I know that the stoploss for most of long trades   were previous close and 412-413 for day traders. Luckily this support broke and I entered a short. Technical reasons for shorts are explained in the charts. The stock fell down after the short very quickly , so I took few points profit and closed the trade. 
Century Textiles - 5 min chart

Century Textiles - 2 min chart
Century Textiles - Square Off trade

Short Sell DLF - Success

My second trade on DLF. There were lot of buy call on DLF from brokers, yesterdays business standard paper had given a sell call on DLF. So I was looking for some sell signals in DLF. It went up in the beginning, but started falling with Nifty. When Nifty broke days low, DLF also broke the days low and pivot. Lot of buying positions would have had days low/previous close / pivot as stop loss. Crossing that is an excellent opportunity since stock will go down at least due to SL triggers before bouncing back. This is what exactly happened here. See the charts.
DLF Entry - 5 min chart 
DLF Entry - 2 min chart

NIFTY - Crossing days low at the time of short selling DLF. This explains the importance of co-rrelating some of the trades with NIFTY
DLF Entry - 30 min chart

DLF - Square Off trade

Monday 21 January 2013

Today's trades 21 Jan 2013

My trade today was a short on ICICI Bank. Below are 30 min, 5 min and 2 min charts when I entered the trade.

ICICI Bank 30 min Chart - Entry for Short Sell

ICICI Bank 5 min Chart - Entry for Short Sell

ICICI Bank 2 min Chart - Entry for Short Sell

Please see above chart to understand why and when I closed the call. In day trading, the key to book profits, trail SL and ready to close the position if trend reverses.

My second trade was a short on Tata Steel. The stock is in a weak trend for the past few days. So I decided to watch this stock when Nifty was weakening. It went up initially , but started consolidating. When consolidation happens, I do not know whether the stock will move up or down. So I wait for a breakout in either direction and also look for indicators - what signals are they giving. Once I got the breakout in sell direction and already signalled by indicators, I sold the stock. Refer charts below. 
Tata Steel - 5 min chart for entry

Tata Steel - 

Tata Steel - 2 min chart for Entry and Square Off 


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