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"Ideal level to write calls is when Nifty retraces either 50% or 61.82% of the fall in the early part of the series. Then you have some comfort levels to hold the "Sell" positions.
50% is @ 4960(Gap Down area)
62% is @ 5012 (Struggle area before market fell big time swiftly).
I share my thoughts and I do not take private clients. If you follow the markets along with me, you will grow in confidence and if you act on them when you are confident, then you are on your own to the success path."
36 comments:
Hi Ilango,
Every one talks about levels and say play with levels.. I am kind of curious now on finding and interpreting this level funda. So would you be able to help on learning this. I am placed in Bangalore only :-) ..
Waiting for a positive confirmation from your side.
Regards
Prakash
prakashks@rediffmail.com
Quote
I share my thoughts and I do not take private clients
Un Quote
Thanks Ilango for sharing your knowledge and thoughts free of cost, your service is not less then doctors doing free Service in smaller village,
Long back once I have written in comments “is the anything called Nifty Mutual Fund? “
This is just my thought if this can be implemented in real life we can start the new discussion treads
I feel that there are many guys like me don’t have internet access for during the trading hrs due to many reason like travel or meeting in office or in some other task. (I will don’t have access to any blogs after 11 AM as I leave for office)
My Idea is something like this
If 10 people wanted to join Nifty Mutual Fund then all 10 person need to open trading account in same broker, and all need trade in same quantity, That is every may need to enroll for only 2 nifty lots. (Every body should have 30% of money reserved at any time.) And all those account can be traded with common account with single instruction to buy and sell and using split software it can be moved to different account at the end of the day. I don’t know in reality it exists or not.
And if that exists is reality and we are happy to see ilango as fund manager. But all we are aware that Ilango repeatedly rejected all offer to manage private fund, waiting for a great day when this become reality.
Dear Ilango,
As the sentiment has changed due to US GDP, could I hold a medium term long on Nifty, buy at 4800 future or 4850 and sell the 4800 call ? So if it moves up I take the premium home.
Also bought a November ICICI call of 800 at 35 bucks, should exit at 840 as time value will kill otherwise.
Cheers
Kapil
Hi..Prakash,
Study a daily chart combined with hoyr charts(Preferably a bar chart) and see the various congestion zones. mark them first.
Now when the market makes higher high and higher low, then it is in uptrend and the earlier supports become resistances now. Similarly when market makes lower low and lower high, it is trending down. Then, the earlier supports become resistances during this down trend.
Technical oscillators with positive & negative divergences help you identify potential bottoms and tops.
That is TA in a nutshell.
Now do your home work and see if you can figure this one out in the market.
Best wishes..
Hi..Kapil,
This upmove could be just a bounce. Only a move past 4960NS can take it higher. So play it light. Icicibank will move swiftly. So sell when icici touches @ 840 either Monday or Tuesday. Options during early part of the series should be booked out with a sentimental rises.
Writing 5000 or 5100 call when Nifty reaches either 4920 or 5000 is best. At that time book out of 4400 PUT.
Let us see the levels..At top write calls..
Hello
I am very sorry If my commenst hurts you....
Buy the futures @ 4835-4855 and simple put a sell @ +40-50 points.
Thank you Ilango, Much appreciated.
Cheers
Kapil
hi sbhandarkar,
No offense taken. Your views are fine.
I have always helped people help themselves since my early years and will continue the same inspiring and igniting minds.
Hi..Kapil,
if you sell 4800PUT only, you can take the premium if market moves up..
Ilango sir, Monday is market holiday.
Hi..jayshah,
Thanks for that info.
if Nifty closes above 4852, then take home a long confidently. If it reaches the first target of 4875-4885, part book or exit fully as a reaction to a such sharp rise may materialise on Tuesday morning..
Hi Ilango sir, as we are long now, SL for conservative trader is also 4795???
Dear Ilango,
Good time to sell Bajaj Hindustan and Renuka, i had bought them and sold also at 240, this is the last piece of 30 % ?
I sold the ICICI call in profit thanks to you and bought 100 ICICI at current levels, so reduced leverage and can hold on to them for longer.
Cheers
Kapil
Hello Sir
Nice views again. Great work.
I am long in NF since yesterday and added more today morning as per your comments above.
Could you throw some light on Bharti. I know you posted on Stock Wealth blog sometime back. Whats the view for now.
Cheers
hi dear sir Ilango,
toaday whats entry level to buy nifty or whats level to sell nifty
and also give me the level of buy and sell for bank nifty
plz guide me sir
Hi Ilango,
Once again I appreciate that you posted chart & your view on Jindal Steel & Power. I am thinking to enter in LIC Housing Finance for that I need your views and levels along with Elliott Wave structure on it if it is possible for you.
Thanks
Regards
Amit Vora
Hello Alpesh
Please read the thread.
Ilango said...
Buy the futures @ 4835-4855 and simple put a sell @ +40-50 points.
October 30, 2009 10:07 AM
Hi..Bizagra,
SL is 4795 for aggressive. Conservative is 4738.(crazy..!!)
Hi..Kapil,
You are doing good managing your positions..
Hi..askme,
All the levels are there in this post itself.. I do not wish to change any.
Bharti view remains the same.Refer that post.
Hi..alpesh,
All the levels are there in this post itself.. I do not wish to change any.
Bank Nifty..pls excuse me for now..
Hi..Amit,
I will post it this week end.
dear sir we r taking long in @186 rcom thank for good suggestion
Dear Ilango sir....is it good to enter short around 4880-4900?
Ilango sir U have given in a simple language for nontechnical investor like me to understand buy at like 4835-55 and sell at + 40-50 points. Thanks lot sir. Plese maintain this type also sir which will be useful for the non-technical investors.
Hi..Sudarshan,
Yes, that is the first major resistance . we will confirm that based on the hour TA at that moment.
hi..boopa,
Become technical soon. It is no big deal and it is not rocket science. It is simply a "demand - supply" balancing by market and we are trying to figure that out by the price patterns. It is never too late to learn..
As long as you keep it very simple, you will be encouraged by the results you get..
Hi Illango,
Continuing my discussion.. what is the best free charting tool(starting with) to use for identifiying this. I use Quotetracker,NSE site,Chartnexus,Hubb investor etc..
Regards
Prakash
hi friends,
asian markets loosing its steam
korea and taiwan minus
regards
rajamani
Hi..Prakash,
I tried quote tracker but my computer slowed down and so I deleted it. It is quite good, though delayed by a minute or so.
Chartnexus- for EOD is good. Intra is "payment basis". I have not tried the intra.
Nse site, the new intra is not accessible by me. Are you able to do it. And it is again delayed by a minute.
Hubbinvestor- hearing it for the first time.
I watch only "Yahoo intra"(Link under Market statistics in this blog) for taking Nifty decisions besides my own charts.
Hi Ilango,
I can see Market Statistics on your Blog for the link of Yahoo Intra.Kindly paste the link on this page.
Regards
Amit Vora
dear ilango...i seem to have a knack of picking up loosers....out of all the stocks recommended for buying by you..i picked up reliance communication..which is presently down 4%...wat is ur view about it?is it a hold??
Hi..Amit,
http://www.nsetracker.blogspot.com/
Hi..mash,
Have a manageable SL for this stock. These were recommended for a "short duration" holding for "Cash Investments" only.
Leveraged trading is different. In such a situation, always choose a stronger one for long and weaker one for shorting(in a downtrend).
Exit if Nifty moves below 4798 or whatever your trading SL is.
Long to hold on ? I am long on future, SL should be 4790 on safe side ?
Hi..Kapil,
Yes. Let that be your SL. If it gets stopped out, let it be. We will look for another trade..
It should recover from here on..Intra charts are oversold. A move past 4815 will be good.
As long as we trade below 4850, bearishness remains. Below 4790-4795NS, exit.
sir, down trend started???? should we enter short?
Hi All:
I do use QUOTETRACKER (QT) & NINJATRADER with free yahoo NSE SPOT LIVE QUOTES(DELAYED BY 5/10 SECS wrt to our regular trading terminal)--Also use AMIBROKER using QT Plug-in--if you are interested then mail me--I can send you a special yahoo zip file send by QT team--QT is a very good TA SW-FREE--with its paintbars (like AMI-AFL-PAID)--Asis(subhamedicalsjpg@gmail.com)
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