SMART FAMILY OF TRADERS -21 APR 2014

This story is about a family of traders, who are engaged in intraday as well as position trading as per their need or requirement. Let me first introduce the characters of the family. Papa ji: Is a position traders, who waits for right time to act and build positions as per need. Mummy ji: is an intraday strategy trader, who uses predefined strategies for intraday trading. Billu: is an intraday Buyer and always take buy side position with Stop Loss and Take Profit Simmi: is an intraday Seller and always take sell side position with Stop Loss and Take Profit Recap On 17 Apr 2014, Papa ji Holding strangle in NIFTY and built strangle on 17 APR 2014 in MCDOWELL-N APR and MAY OPTIONS Mummy ji: Will take position as per her pair trading strategy Billu:will buy ICICIBANK AND DABUR Simmi: will sell HDFC AND MCDOWELL-N For 21 APR 2014 Papa ji, Mummy ji, Billu and Simmi have finished their research for 21 Apr 2014 and are discussing it. Papa ji: As of now, it seems Billu's view about NIFTY touching 6900 before expiry is achievable.........So, Billu, now what is your view as NIFTY is currently trading at 6793 (Metatrader4 trading platform data), .... Billu: Now I have revised my target before expiry and it is 6937-6950......however, there is good resistance within the band between 6815-6838 and we need a significant break out above this to achieve our target of 6937-6950.......on the downside, my first WEEKLY support band is formed between 6744-6724 (Metatrader4 trading platform data) .........So, mummi ji....how was your day..........have you traded well as i was no be able to buy either ICICIBANK or DABUR as it has not given opening as per rules.... Mummy ji: No,...... i was also not be able to enter in position as per rules...but it seems simmi has traded well........ Simmi: Yes, I sold HDFC at 872.35 and booked profit at 865.00...so a good day for me...... what are your stocks for 21 APR 2014..... Mummy ji: My intra-sector pair is GAIL-POWERGRID whereas inter-sector pair is RANBAXY-POWERGRID........    Billu: I WILL buy RANBAXY, if opens BETWEEN 468.25-465.95.... IF OPENS BELOW GIVEN LEVELS, i WILL WAIT AND THEN BUY...... Simmi: Well, i will sell POWERGRID, IF OPENS BETWEEN 107.2-107.9......IF OPENS ABOVE GIVEN LEVELS. i WILL WAIT AND THEN SELL..... Papaji: I am holding strangle in NIFTY APR OPTIONS and have built strangle on 17 APR 2014 in MCDOWELL-N APR and MAY OPTIONS ........be careful as APRIL EXPIRY date(NSE) has shifted from 24 APR 2014 to 23 APR 2014 due to general elections........ Simmi: So, finally you have taken your position......that's good........now i am leaving...take care and good night everyone ... Mummiji: Me too ......goodnight everyone.... Billu: I am also going...good night papa ji, good night simmi................ Papa ji: All these discussions are our views and may go wrong, so be careful...Happy trading..