TRADE RECOMMENDATION 11.04.21
- Capt D. Ganesh Raja
- Apr 11, 2021
- 3 min read
From the desk of Capt.D.Ganesh Raja
Dear Friends,
In my mid week review I had recommended to short Nifty because of indication from weekly system though as per daily chart some ‘noise” in the market which has resulted in 2% capital loss in the short side trade. This is a classic case when we want to trade the intermediate time frame but smaller timeframe indicates contra move. We will watch how the market action unfolds. The doji on weekly chart is a reaffirmation of the short trade.
Gold: Last close – 46593.0 (MCX PRICE). Gold posted strong gains last week. Short term traders continue to hold long position. Long-term investors who have been accumulating for a prolonged period would see their patience hopefully getting rewarded in the long run.
Target 1 – 47237.0, Target 2 – To be updated, Leverage -0.2x.
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.
MARKET & NIFTY OVERVIEW
Nifty Last close – 14834.00. The shorting opportunity came on 06.04.21 at 14675.00 and presently the 2x leverage trade is at a 2% capital loss. Continue holding short position with end of day stop loss of 15051.0.
Target 1 – 14350.0 , Target 2 – 14050.0, Leverage –2.0x
Minimum profit potential – 2.2% , Asset allocation profit potential – 4.4%
Minor trend : Neutral, Intermediate trend : Neutral with downward tendencies, Long term trend : Up.
EXISTING TRADE RECOMMENDATION OVERVIEW
1. TITAN: Last close - 1592.00. Recommended price – 1497.0 to 1510.0 to go long, with stop loss of 1432.0 on 28.03.21. Presently on an absolute profit of 5.72%. Continue to hold long position with profit protection stop of 1541.0
Target 1 – 1673.0, Target 2 –NA, Leverage – 0.10x
Minimum profit potential – 11.1% , Asset allocation profit potential – 1.11%
Minor trend : Up, Intermediate trend : Up , Long term trend : Up.
2. EICHER MOTORS: Last close – 2521.60. Recommended price – 2572.0 to 2587.0 to go short with stop loss of 2670.0 on 28.03.21. Continue to hold short position.
Target1 – 2500.8, Target 2 – 2434.2, Leverage 0.1x.
Minimum profit potential – 3.7% , Asset allocation profit potential – 0.37%.
Minor trend: Down, Intermediate trend – Neutral with downward tendencies, Long term trend – Neutral.
3. ACC: Last close – Recommended price – 1902.0 to 1920.0 to go long with a stop loss of 1858.0. Target of 2000.80 achieved on 08.04.21 yielding absolute profit of 4.5%. Trade recommendation closed.
4. BRITTANIA: Last close – 3797.7. Recommended price – 3605.0 to 3622.0 to go long with a stop loss of 3546.0. Continue to hold long position with profit protection stop of 3763.0 Target1 – 3959.0, Target 2 – NA, Leverage 0.05x.
Minimum profit potential – 9.4% , Asset allocation profit potential – 0.47%.
Minor trend: Up, Intermediate trend – Up , Long term trend – Neutral with upward
tendencies.
5. HCL TECH: Last close – 1045.40. Recommended price – 971.0 to 986.0 to go long, with stop loss 949.0. Presently on an absolute profit of 6.76%. Continue to hold long position with profit protection stop at 1020.25.
Target 1 – 1055.95 , Target 2 – 1087.0, Leverage – 0.10x
Minimum profit potential – 7.8% , Asset allocation profit potential – 0.78%
Minor trend : Up, Intermediate trend : Up, Long term trend : Up.
NEW TRADE RECOMMENDATION
Nifty as mentioned above.
TOTAL LEVERAGE OF ABOVE NEW TRADE RECOMMENDATIONS: 2.0x
COMBINED PROFIT POTENTIAL FOR ABOVE TRADES: 8.2%
TIME WINDOW OF TRADES: 10 DAYS TO 60 DAYS.
TOTAL LEVERAGE INCLUDING UNCLOSED POSITIONS AS PER PREVIOUS RECOMMENDATION: 2.55X
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