I use a statistical approach to select short entry / long entry, stop-loss and targets. That means I do not need to look at the charts for taking out levels –
plain excel sheet data will do. I use the chart only to shift these levels to suit the formation – either bearish or bullish. I also tweak the levels up or down a few points depending on latest geo-political and economic developments.
However this statistical approach has a limitation. Like any other statistical formulas, they work best when data is large. In our case the volumes have to be consistently large. That is why I prefer to work with BSE A group stocks. Sometimes I expands it to NSE 500 but anything beyond that will be difficult and the levels may not be accurate.
I also prefer to give short as well as long levels. Many of you may be wondering why I do not give directional calls. My logic is that the market and the ticker are supreme and it is always profitable to trade a break-out in whichever direction it occurs. It is futile trying to predict a direction as you may end up missing a big move in the opposite direction.
As you trade my levels you will appreciate this logic better. It may be worthwhile to look at weekly break-out direction while trading intra day and vice-versa since you will normally find that moves will not be sharp and big if the break-outs are in opposite directions. You will normally have big and quick gains when different time frames are indicating a trade in same direction – either short or long.
NAVIGATING THE WEBSITE
The website is broadly divided into three parts.
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