Good evening Readers. Last 3 weeks have been pretty much of a rally and it was difficult to say we wont get any correction until we opened gap up after UP results on this Monday. Many of my blog followers would have felt they lost money as i was bearish on Nifty since my last post on 27th Feb? ….BUT THATS NOT TRUE… Why? …My strategy was to Short Nifty (8890) 8890 and Long reliance (1180). So strategy Finally closed today with Reliance hitting my than tgt 1325 and Nifty triggering stop loss at 9150.
Profit on My strategy
Buy Sell Margin P/L (for one Lot)
Nifty (SL) 9150 8890 55000 -19500
Reliance 1180 1325(tgt) 85000 + 72500
So Net payout: Rs. 53,000
So above strategy was a perfect example how a spread strategy could be the best thing to trade to avoid any side trend
Now what next after such a bullish closing?….
We have got the perfect Inverted H&S breakout on Weekly chart with Runaway gap up on Monday on back of UP results.. Though m posting a day early for a confirmation but it seems we will get breakout above neckline at 8980. And interestingly pattern target is coming up to 10600 minimum if we sustain above my stop loss. So now its better late than never. If you guys still feel left out of markets or investment , enter now with part investment and may be some after few months. But you must surely invest stock specific at current levels for long term. Few good stocks to invest are Tata Steel, Reliance and Sun Pharma. Want me to design your long term portfolio than can mail me at firstname.lastname@example.org
Strategy for traders:
Buy 1 lot of Nifty at CMP tgt 9350 and SL 8980 and buy 1 lot of tata steel with tgt 550 sl 480 and maximum loss: 52750 if you strictly follow my strategy.
Thank you readers for following my blog! Happy trading with strict stop loss.!