TRADE RECOMMENDATION - 16.05.21
- Capt D. Ganesh Raja
- May 16, 2021
- 3 min read
From the desk of Capt.D.Ganesh Raja
Dear Friends,
There is a barrage of negative news flow due to the war like situation in middle east which can make traders take decisions based on emotion. This is an acid test for any trading system. The whole point in building a trading system is to keep emotions out of it.
There is no change in my view of Nifty from what I had mentioned last week, so continue to hold long positions. The immediate trend in Nifty as per weekly charts is still up. Also the small body candle with a huge volume in weekly reaffirms what the system is indicating.
Due to the volatile situation in general due to middle east tensions things might suddenly take a turn but VIX indicator at 20.25 is in a quiet zone as of now and falling. So we continue to watch actively.
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 – 14677.80. System gave long signal in on 07.05.21 at 14823.15. Continue holding long position with a stop loss of 14416.0. As of now there is an absolute loss of 0.98%.
Target1 – 15350.0, Target 2 – NA, Leverage 1.0x
Minimum profit potential – 3.5%. Asset allocation profit potential – 3.5%.
Minor trend: Neutral, Intermediate trend – Up, Long term trend – Up.
GOLD: LAST CLOSE – 47438.0. System gave long signal on 07.05.21 at 47751.0 with a stop loss at 46650.0. Presently at an absolute loss of 0.66%. Continue to hold long position in Gold.
Target1 – 49400.0, Target 2 – 50200.00, Leverage 0.3x
Minimum profit potential – 3.5%. Asset allocation profit potential – 1%.
Minor trend: Neutral, Intermediate trend – Up, Long term trend – Up.
SILVER: LAST CLOSE – 70473.0 System gave a buy signal in Silver on 05.05.21 at 67524.0 with stop loss at 67200.0 and presently at an absolute profit of 4.37%. Continue to hold long position in Silver.
Target1 – 76219.0, Target 2 – 79141.0, Leverage 0.2x
Minimum profit potential – 11.5%. Asset allocation profit potential – 2.3%.
Minor trend: Up, Intermediate trend – Neutral with upward bias, Long term trend – Up.
EXISTING TRADE RECOMMENDATION OVERVIEW
1. BAJAJ AUTO: LAST CLOSE – 3848.80. System gave a buy signal on 07.05.21 at 3856.75 with stop loss at 3794.0 and presently at an absolute loss of 0.21%. Continue to hold long position.
Minimum profit potential – 9.7%. Asset allocation profit potential – 1.5%.
Minor trend: Neutral, Intermediate trend – Neutral with upward bias , Long term trend – Up.
2. BHARTI AIRTEL : LAST CLOSE – 560.40. System gave a buy signal on 07.05.21 at 566.50 with stop loss at 542.0 and presently at an absolute loss of 1.42%. Continue to hold long position.
Target1 – 602.0, Target 2 – NA, Leverage 0.10x.
Minimum profit potential – 5.9%. Asset allocation profit potential – 0.9%.
Minor trend: Neutral, Intermediate trend – Neutral with upward bias, Long term trend – Up.
3. KOTAK MAHINDRA: System gave a buy signal on 07.05.21 at 1783.0 with stop loss at 1721.0. Stop loss triggered on 12.05.21 at 1718.85 resulting in an absolute loss of 3.64%. Trade recommendation closed.
4. BPCL: LAST CLOSE – 442.25. System gave a buy signal on 07.05.21 at 443.15 with stop loss at 424.15 and presently at an absolute loss of 0.2%. Continue to hold long position.
Target1 – 480.0, Target 2 – NA, Leverage 0.15x.
Minimum profit potential – 8.3%. Asset allocation profit potential – 1.20%.
Minor trend: Neutral, Intermediate trend – Neutral, Long term trend – Up.
5. HINDALCO: Recommended to go long on 07.05.21 during dips till 390-395 levels. Target was missed by just Rs.2.50, which is almost achieved resulting in an absolute profit of 9.62%. Trade recommendation closed.
NEW TRADE RECOMMENDATION
No new trade recommendations.
TOTAL LEVERAGE OF ABOVE NEW TRADE RECOMMENDATIONS: NA
COMBINED PROFIT POTENTIAL FOR ABOVE TRADES: 10.5%
TIME WINDOW OF TRADES: 3 DAYS TO 30 DAYS.
TOTAL LEVERAGE INCLUDING UNCLOSED POSITIONS AS PER PREVIOUS RECOMMENDATION: 1.95X
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