QUANT SYSTEM TRADE RECOMMENDATIONS UPDATE - 18.08.21
- Capt D. Ganesh Raja
- Aug 19, 2021
- 4 min read
From the desk of Capt. D.Ganesh Raja
Dear Friends,
The markets have rallied smartly since I last recommended to go long on 12.08.21. Immediate weekly trend is up and in spite of the dip today, which was from an important Fibbonacci level, immediate daily trend is also still up.
As per revision of wave count, since the present move has resolved itself to the upside, we have to regard the lows reached on 23.04.21 as the intermediate correction and it seems to be an impulse wave is in progress now, after the consolidation between 11.06.21 to 30.07.21.
Trend strength as per weekly charts is strong though as per daily charts some gyrations can be expected, which generally indicates stocks changing hands, from weak to strong.
There is a saying in the market that if a trend is in progress, then put a trade and go fishing, though that is not the reason I have not been updating regularly but due to my Marine professional commitments.
Gold: Gold is still consolidating so no views for now. Long term investors have to continue to be patient and that includes yours truly.
Silver: No views for now.
Realty: No change in views since my last report.
Note for reading this report:
Note1: The stop losses are on end of day basis
Note2: When trade recommendation is given around a certain price, it means that the trade may be taken the next trading day or if a price zone is given for taking a trade then trade has to be taken on the day price reaches within that zone.
Note3: A separate excel sheet is attached to view the performance of the recommendations, which also reduces the task of individually reporting the performance of each trade recommendation. Viewing the excel sheet “TRADE RECOMMENDATION LOG” will be self-explanatory. Also in this sheet Trade recommendations which are still active are marked.
When signals are triggered mid-week, that is updated in log sheet and covered in the weekend report , due to paucity of time.
MARKET & NIFTY OVERVIEW
Nifty: LAST CLOSE – 16588.85. System gave long signal in on 12.08.21 at 16364.05, with stop loss at 15834.00. Continue holding long position. As of now there is an absolute profit of 1.37%.
Target 1 – 16639.0 (Achieved), Target 2 – 17152.0, Leverage 1.0x
Minimum profit potential – 1.7% (Achieved). Asset allocation profit potential – 1.7% (Achieved).
Minor trend: Up, Intermediate trend – Up, Long term trend – Up.
EXISTING TRADE RECOMMENDATION OVERVIEW
1. ACTION CONSTRUCTION EQUIPMENT: LAST CLOSE – 213.0. System gave a buy signal on 27.06.21 at 236.0 with stop loss at 198.25 and presently at an absolute loss of 9.73%. Continue holding long position
Target 1 : 300.0 Target 2 – NA, Leverage – 0.1x
Minimum profit potential – 27.1%. Asset allocation profit potential – 2.7%.
Minor trend: Down, Intermediate trend – Neutral, Long term trend – Up.
2. INDIAN HOTELS: LAST CLOSE – 140.80. Recommended to go long at 144.95 on 27.06.21 with stop loss at 131.35 and presently at an absolute loss of 2.88 %. Continue to hold long position.
Target1 – 179.0,Target 2 – NA, Leverage 0.05x.
Minimum profit potential – 23.5%. Asset allocation profit potential – 1.20%.
Minor trend: Down, Intermediate trend – Up, Long term trend – Up.
3. INFOSYS: LAST CLOSE – 1733.45. Recommended to go at 1590.95 on 25.07.21 with stop loss at 1560.0 and at presently an absolute profit of 8.96%. Continue to hold long position even though target 1 has been achieved.
Target1 – 1722.0 (Achieved), Target 2 – 1820.0, Leverage 0.20x.
Minimum profit potential – 8.2%(Achieved). Asset allocation profit potential – 1.6%.
Minor trend: Up Intermediate trend – Up, Long term trend – Up.
4. L&T: LAST CLOSE – 1632.95. Recommended to go at 1596.0 on 29.07.21 with stop loss at 1560.0 and at presently an absolute profit of 2.31%. Continue to hold long position with revised stop loss of 1616.00, since some filters are not showing alignment with the uptrend.
Target1 – 1675.00, Target 2 – NA, Leverage 0.20x.
Minimum profit potential – 4.9%. Asset allocation profit potential – 1.0%.
Minor trend: Neutral, Intermediate trend – Up, Long term trend – Up.
5. GAIL: LAST CLOSE – 145.65. Recommended to go at 150.65 on 12.08.21 with stop loss at 139.15 and presently an absolute loss of 3.32%. Continue to hold long position.
Target1 – 171.0, Target 2 – NA, Leverage 0.20x.
Minimum profit potential – 13.5%. Asset allocation profit potential – 2.7%.
Minor trend: Neutral, Intermediate trend – Neutral, Long-term trend – Neutral with upward bias.
6. HDFC: LAST CLOSE – 2710.75. Recommended to go at 2688.75 on 12.08.21 with stop loss at 2578.0 and presently an absolute profit of 1.57%. Continue to hold long position.
Target1 – 2827.0, Target 2 – 2950.0, Leverage 0.20x.
Minimum profit potential – 5.9%. Asset allocation profit potential – 1.2%.
Minor trend: Up, Intermediate trend – Up, Long term trend – Up.
7. RELIANCE INDUSTRIES: Recommended to go long at 2110.50 on 12.08.21 with stop loss at 2003.0 and presently at an absolute profit of 2.94%. Continue to hold long position.
Target1 – 2210.0, Target 2 – NA, Leverage 0.20x.
Minimum profit potential – 4.7%. Asset allocation profit potential – 0.47%.
Minor trend: Up, Intermediate trend – Up, Long term trend – Up.
NEW TRADE RECOMMENDATION
NO NEW TRADE RECOMMENDATIONS FOR NOW. WILL UPDATE AS SIGNALS EMERGE.
TOTAL LEVERAGE OF ABOVE NEW TRADE RECOMMENDATIONS: NA
COMBINED PROFIT POTENTIAL FOR ABOVE TRADES: NA
TIME WINDOW OF TRADES: 7 DAYS TO 60 DAYS.
TOTAL LEVERAGE INCLUDING UNCLOSED POSITIONS AS PER PREVIOUS RECOMMENDATION: 2.05
RETURNS TILL DATE SINCE 04.07.20 : 43.66%
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