Trade Update: Book 100% longs in Silver – 500% profit in 8 days

Suggested here :

http://blog.vikasverma.com/2010/03/trade-update-silver-pullback.html

and here

http://blog.vikasverma.com/2010/03/get-out-of-silver-shorts-target-hit.html

My target was 17.25 in the pullback and see its trading at 17.40

so how we traded over the past 2 weeks?

Short @ 17.55 , Covered @ 16.55 – 10,000 pips profit

Long @ 16.60 , Covered @ 17.40 – 8,000 pips profit

Overall above 18,000 pips profit in less than 8 days which is $1800 profit on a single Micro lot of 1000 units and investment of just $300… overall 500% return

Trade Update… Silver Pullback

Suggested here: http://blog.vikasverma.com/2010/03/get-out-of-silver-shorts-target-hit.html

I asked you to book out of Silver shorts and get on other side for a pullback… I asked to cover shorts near 16.5 and it did 16.55 before pulling back… my target was 17+ and its already trading at 16.92…

Target is still open and stretched to 17.18-17.25

Get out of longs near 17.20-17.25

Get out of Silver shorts… Target Hit

Suggested here: http://blog.vikasverma.com/2010/03/short-silver-target-below-1685.html

Target was below 16.8 then later downgraded to 16.5 … its trading at 16.55 mark and I see it bottoming out near 16.45…  which is near 10,000pips or $1000 on an investment of just $300… 300+% profit in 5 days.

Book out near 16.5-16.45 and go long in Silver with a Stop @ 16.35 for a target of 17+ in coming days…

Sell RPOWER for a big fall

 

Sell RPOWER or BUY 150PA for April @ 6-7
Downside Target: 142.98 <-> 141.36 <-> 139.05 <-> 136.11 <-> 132.38
Stop is 2% higher from today's high ie.. 153

Chart

Put Options for April Series

Buy these dirt cheap Put Options for April series

ACC 950PA @ 29 for April

AMBUJACEM 115PA @ 2.8 for April

BHARTIARTL 300PA @ 8.5 for April

CIPLA 340PA @ 11 for April

Trade Update: BHARTIARTL Shorts gave over 30% gains

Suggested Here: http://blog.vikasverma.com/2010/03/sell-bhartiartl.html

Bharti 320PA touched 20.25 which is 35% return from suggested level of 15

Futures touched low of 305.5 from suggested 318 level…. hope you are enjoying it.

Book 50% and ride the rest with stop at cost… book 100% at 280 levels in Spot

Forex Trade Updates

First of all the star among the rest… Silver Short

Suggested to short near 17.45-17.5, see here http://blog.vikasverma.com/2010/03/short-silver-target-below-1685.html

Target was below 16.85… current price is 16.60 which is 8000 pips or $800 with a Micro lot 1000 units… over 200% return on investment within 4 days.

 

Next trade… Short NZDUSD… See here  http://blog.vikasverma.com/2010/03/sell-nzdusd-target-130-230-pips.html

Suggested to short @ 0.71145 for a target of 130-230 pips, touched 0.70.. which is a good 115 pips profit in 1 day.

Trade Update: Short Silver gave over 5000pips

 

See how Silver was dumped as USD rallied.. Book 90% profit and ride the rest for a target well below 16.8-16.5

Sell NZDUSD – target 130 – 230 pips

NZDUSD is looking weak on 4HR chart for 3 possible targets.. 0.6975 - 0.6927 - 0.6880

Trade Update: Short Silver

Suggested here : http://blog.vikasverma.com/2010/03/short-silver-target-below-1685.html

Silver is down already by over 2500pips

Short Silver : Target below 16.85

Silver is looking so bearish to me...

Target is below 16.85

Change or No Change :: US Key Interest Rates

Tonight is another such night where everyone is assuming that where FED Chairman, Ben Bernanke , come out of meeting and shout “No Change” but I have this gut feeling that tonight could be the night where they pull up their socks… err I mean their Interest Rates

 

Let’s see another 4 hours to go for the Interest Rates Decision and then Consumer Confidence number after 1 Hour of Interest Rates Decision

My prediction: They Hike their rates… Gold/Silver should be dumped along with all currency pairs and USD should rally. US Equities should make a double top here and go back below their 50% retracement levels by this Thursday 18th.

Big expectations.. lets see how it goes.

Trade Update : BALRAMCHIN up 5% from our buy level

Suggested here when everyone was dumping sugar stocks and no one was able to believe that anyone would ever wanted sugar again. Gosh.. looks like I take too much sugar daily in my tea and this stock surged nearly 5% from my buy level

http://blog.vikasverma.com/2010/03/honey-honey-oh-my-sugar.html

Silver 1H chart gave you entire day’s range in a single trade…

Who said you can't buy at bottom & sell at top... see this.

A perfect wave that I had been watching on an Hourly Chart of Silver since early morning... up move from day's low to day's high.... complete day's range in a single wave...

Here is the video of it...

Honey Honey.... oh my Sugar...

I do not know how overall Sugar sector is going to perform in coming weeks but I certainly see two stocks from Sugar pack to completed its correction and most likely about to jump back.

Here are my Trades for the next 6-8 weeks.. I expect first target to hit within next 2-3 weeks itself

Buy BAJAJHIND around 148, Stop 129, Targets 167,182,193,205,221,242
Buy BALRAMCHIN around 93, Stop 87, Targets 109,119,128,137,149,165


Charts

Buy BALRAMCHIN @ CMP … ie. 93

Balramchin should have completed its correction cycle today and can give a good return in couple of months. 

Buy @ current price of 93 and look for 125+ levels.. may be 132 in next 2-4 months..

No stop loss given as it’s a good stock and should outperform in coming months… hold it with a horizon of 6 months.

 

Reason behind the cover short/go long in BALRAMCHIN

 

US Numbers evening…

Another important evening with respect to US Data in another 1 hour

 

	Previous	Expectations
Trade Balance	-40.20B	-41.00B
Initial Jobless Claims	469.00K	455.00K
Natural Gas Storage	-116.00B

 

Looking at various charts USD, US 10Y Bond, Gold, Silver, Dow, S&P... I am predicting & expecting numbers to leave negative sentiment atleast to start with. Lets see how numbers are...

 

Update… Numbers were bad not not too bad… still here is what happened

USD Down
Bond Rally
Gold rebound
Silver rebound
Dow , S&P Down

Gold & Silver are the biggest stars

Short Silver Spot – XAG/USD

Silver is looking bearish to me for a target of 17.25-17.18 in Hourly chart. On a Daily chart it is looking bearish for a retest of below 15 levels.. may be 14.55

 

 

See how the short went.. instant profit…

 

Back to Back 2 Waves on a Nifty 15min chart today… gave over 40 points

 

 

Nifty 15min chart and it gave over 40 points. The setup was WolfeWave and two perfect waves traded.

Market is all about waves…

Waves exists almost always in the charts and this is so satisfactory when you are able to spot them and profit from them.

See the video of Silver’s SPOT chart where there were 2 waves one after another one bullish then second bearish in the 15minute chart

The bearish wave is still pending for its target… I will update you once it hit the target..

Do let me know if that is helpful to you or if you have any doubts.

UPDATE:

See what happened to Silver

Nifty Futures… near top… put yourself in reverse gear now

Nifty Future has support around 5115-5112, which if holds then one can expect pullback to 5142 level but if that breaks, than targets are 5080-5064,5024. Looks like rally is over

5100PE from 66 to 77.70 in a matter of 15minutes..

 

Suggested to average from 85 @ 66 level… average comes to 75… look 5100PE made 77.70 within 15minutes time…

 

Intraday 13% profit after deducting brokerage within 15 minutes… thats perfection :)

Average down 5100PE if holding from 85 levels…

If holding 5100PE then average down… if not holding then BUY fresh at current levels near 66

Follow me on YouTube for more Viblogs (Video Blogs)

 

I am starting a new series of Screen Casts on Wolfe Waves…

Follow me on http://www.youtube.com/CatchTheWolf

Nifty’s Prediction for Next 3 Months

Since everyone is talking about bearish levels so I would start this with a bullish tone for a change.

Nifty is going to touch 5450 by 27th May 2010

but first 4650-4700 within by April first week then 5475-5500 by last week of May or first week of June

Watch Video for more detail…

US Stocks and my prediction before the market open

 

Even before the market opened, even before the job numbers were out I predicted following levels, and here is the update on their current Highs for the day so far…

DOW & JONES
Upside Target: 10635, Downside Target: 10040
Day's High: 10,571.94

S&P 500
Upside Target: 1138, Downside Target: 1075
Day's High: 1,139.38

NASDAQ
Upside Target: 2318 , Downside Target: 2200
Day's High: 2,327.03

NFP Numbers Update

I predicted better than expected numbers and indeed they were far better than expectations
Here is a snap shot how things panned out… I suggested to Short Gold/Silver and long USD
Click on the Image to see the Full Size Image

Trade Update: Nifty 5100PE

 

CMP is 107… that is 30% + gains in less than 3 hours.. suggested to buy @ 85 here

http://blog.vikasverma.com/2010/03/buy-nifty-5100pe-cmp-85-target-4990-in.html

Hold them tight for a target below 5000 in SPOT or book atleast 50%

Buy Nifty 5100PE , CMP: 85 , Target 4990 in Spot, Stop Loss: 5210 in Spot

 

Buy Nifty 5100PE , CMP: 85 , Target 4990 in Spot, Stop Loss: 5210 in Spot

Or atleast hedge your Nifty Longs by adding Nifty Puts.

Expecting better than expectations – US NFP Numbers

Current waves in DJI, SPX and even in NASDAQ suggest atleast 5-6% cut from the highs.
DOW & JONES

Upside Target: 10635, Downside Target: 10040

 

S&P 500

Upside Target: 1138, Downside Target: 1075

NASDAQ

Upside Target: 2318 , Downside Target: 2200

 

Nifty : Upside Target: 5190 , Downside Target: 4835

Hey yaa everyone…

I have been busy lately with my personal life and was not trading actively. I wont be trading quite as active for some more time but will be tracking the market when I get some time.

I have been following Gold quite closely and it may be possibly done with the rally and looking for a pull back… maybe a 100% pull back to make a double bottom.

This is the weekly chart setup and if we consider the lower line as target then see how perfect was the target… the estimated price at arrival should not exceed more than 1145 and yesterday it made a high of 1145.18 ( I was expecting a 10% rally from the lows and that is almost over 9.65%)

Now look at this Daily chart and why I see pain in Long Gold situation…

 

I see it max making an attempt to touch 1155 and then a possible double bottom… argh.. that’s gonna hurt and I already booked my longs and added few shorts at 1143.. I would be a ruthless bear on a breach of 1130

 

Now let’s look at the S&P 500 Index and see it is also making a bearish wave pattern… although the volume was not great in last two days which is very much needed .. maybe they want to make a final attempt to go short near 1140 levels.

Similar pattern in Nasdaq Composite… be cautious and atleast book profit on longs or hedge your positions.