QUANT SYSTEM TRADE RECOMMENDATION - 02.03.22
- Capt D. Ganesh Raja
- Mar 3, 2022
- 2 min read
From the desk of Capt.D.Ganesh Raja
Dear Friends,
I have travelled to Kakinada for a ship assignment and I am burning midnight oil, just to update you in time before I go off communication range. I wish I could give recommendations in individual stocks, but the time in hand permits this much only. Also, since I am taking part in the trading competition, I have track US stocks and indices.
Nifty closed at 16605.95 today and as of today’s closing system has given a sell signal again with stop loss of 16868.0 and targets of 16108.0 and 15850.0, leverage for the trade 1x. As discussed, before we are moving in and out of the market using a second position and keeping one position to ride the long-term trend,
Markets are forming a flag post triangular breakout which generally indicates more downside. VIX is also indicating a strong trend, hence short positions have a higher probability of generating profits. When a trend is in progress there is nothing much to be discussed and one needs to ride it. As they say in market “Trend is your friend”.
GOLD: Last close- 51805.0. Gold has given a breakout from consolidation pattern and trend is emerging, so continue holding positions in Gold. I have recommended some of my close friends to even invest in sovereign gold bonds, which has a closing date of 04.03.22, in spite of the long lock in period, so that one can invest for the long term. When good signals emerge we must have the patience also to stay invested. Even in international markets Gold has broken out of key resistance of USD 1850.0 per ounce and is seems to be sustaining. The question arises if Gold prices are rising only because of Ukraine- Russia conflict or there could be underlying factors. A single event can act as a trigger but cannot sustain a trend unless underlying macro factors line up. That is too big a topic to discuss here. We don't want to profit on anyone's misfortune but things happen as per their own accord. My Guruji used to say, "Jeevan maran haani laabh, sab Hari ke haath", which means "Life, death, loss and profit is all in the Parmatma's (Hari) hands.
Trade Recommendation Sheet has details of all the trades recommended till date.
Cheers and happy trading.
RETURNS TILL DATE SINCE 04.07.20 : 58.99% (AS OF WEDNESDAY 02.03.22 CLOSING)
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