Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Monday, May 18, 2009

Reigning The Nifty --19th May, 2009

Nifty Daily Chart

Nifty Half Hourly Chart

Nifty half Hourly Support Chart

Sorry for posting late but am still to come out of the numbness brought about by todays trading. Luckily I stuck to technicals and was holding long hedged positions. Hoped to book profits partially but the markets did not even give time to blink the eye.

The question is now what? Well I would still say stick to technicals. Do not take fresh positions till things calm down. There is no need to swear off FnO. Take hedged positions at newsy times though it may mean lower profits, the important point to note is we make lower losses in case the market goes against us..

The next target is 4800-4900 with minor resistances at 4558 and 4650. Other supports and resistances are marked on the charts.

Happy Trading !!

Lakshmi Ramachandran


Unknown said...

Dear Madam
I am Satheesha. I am impressed with your trading methods. I want to know about which charting software is best to trade. which software you used to trade.
I hope I will get positive response from your side.

Lakshmi Ramachandran said...

i use metastock and this is the best

rashmi said...

dear lakshmi,i am a regular reader of ur blog and follow ur tips.plz advise wht can b the may expiry for nifty as i am holding a few long positions.

Lakshmi Ramachandran said...

dear rashmi
taking artial profits would be prudent. 3717 will now be a good support so the expiry may be some where above this level. Difficult to predict levels though

ss hari said...

i am retired govt officer and addicted to your blog.i had a feeling that everything posted on net is by traders who use the media to find a exit route at higher price.but now i find all blogs charted on vfm direct are honest persons with god given talent.kindly advise me best two books on swing trading.with regards.

Lakshmi Ramachandran said...

Thanks for the comment. Yhe one book which I have read is Technician's guide to Day and Swing trading by Martin J Pring