QUANT SYSTEM TRADE RECOMMENDATION -02.04.23

From the desk of Capt.D.Ganesh Raja DATE: 02.04.23

Dear friends ,

I’m in a marine assignment again but this time I have connectivity which helps me to monitor the markets. There is limited bandwidth for use so there might be some delays though. My aim was to post this before market opening but due to bandwidth and connectivity issues onboard ship, it could not be done.

In my previous post I had said that markets or close to a very strong support and a bounce is slightly and I had recommended to go long on lift as per system reading.

Smart gains were seen in Nifty on last Thursday and Friday, closing at 17389.75. This looks like a short covering rally though. As the market rallies there will be some stocks which will rally with it and as I had said in this situation, some contra movements are possible. However, as seen in the past in such situations the system gives a timely exit to minimize losses. Precise entries are possible by monitoring on a daily basis but that is not necessary and neither the objective of this blog. Continue to hold long position in Nifty till indicated levels of 17600 to 17700.

The international trading competition in which I have been taking part in, my current rank is 44,171 out of 8,85,188 traders worldwide and I have generated annual returns of 6.04%, which just about matches bank rate. Ranking wise I am in top 5% of the traders but I have been inactive for several months during previous marine assignment where I had absolutely no connectivity. Moreover, I am taking positional trades which are in a little longer timeframe. Hoping to improve on this.

NASDAQ COMPOSITE: :Last close – 17359.75. Continue holding long positions as further gains seem likely.

USD-INR: : Last close – 82.18. This currency is still in line with original recommendation to go short on USD, but patience is the key here and this month is very crucial for this chart to clear some important levels for this trade to be profitable.

MCX GOLD: Last close -59402.00. There are tell-tale signs of Gold powering ahead after few weeks of consolidation. It seems to be in long-term upward trending channel in the weekly charts. Continue riding the strong trend in Gold. In Rupee terms it’s in “clear blue sky”, which means making new highs and in uncharted waters.

RECAP ON PREVIOUS RECOMMENDATIONS

1. RELIANCE: Last close – 2230.95. I had said that a bounce is expected and wait for it to go short and Reliance moved up very strongly, so I would recommend to wait for few days to take the short position. This is in line with the system. The TRADE RECOMMENDATION SHEET would be amended accordingly.

2. BPCL: Last close – 344.10. It is recommended to continue holding long position.

3. KOTAK BANK: Last close- 1733.50. System exit has been triggered on 31.03.23 and this trade recommendation is closed.

4. BRITTANIA: Last close -4321.50. System exit has been triggered on 31.03.23 and this trade recommendation is closed.

5. HCL TECH.: Last close – 1085.25. Some volatile movement is seen but there is no system exit as of yet, so continue holding short position.

6. TITAN: Last close – 2514.90. It is recommended to continue holding long position.

NEW TRADE RECOMMENDATION

1. TATA COMMUNICATIONS: Last close – 1245.60. It is recommended to go long at these levels with stop loss at 1169.

Target 1 – 1376.0 , Target 2 – 1476.0, Leverage – 0.15x.

Minimum profit potential – 10.5% , Asset allocation profit potential – 1.6%.

Minor trend : Up , Intermediate trend : Neutral with upward tendency , Long term trend : Neutral.

RETURNS TILL DATE SINCE 04.07.20 : 77.64% (AS OF FRIDAY 31.01.23 CLOSING)

LEVERAGE FOR EXISTING TRADE RECOMMENDATIONS: 2.85

LEVERAGE FOR NEW TRADE RECOMMENDATIONS: 0.15

TOTAL LEVERAGE: 3.00

ASSET ALLOCATION PROFIT POTENTIAL FOR NEW TRADE

RECOMMENDATIONS: 1.6%

TIME PERIOD OF TRADES RECOMMENDED : 15 DAYS TO 3

MONTHS.

TRADE RECOMMENDATION LOG.pdf

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