1. Most bullish: An "abc" correction completed @ 5202 and a new uptrend is on.(Monthly may confirm it).
2. Mildly bullish: A complex "B" wave unfolds which can take the index upto 5380+.
3. Bearish Short term: A brief rise upto 5285 to 5325 and the fall resumes to 5100.
In all the three, the short term seems to be UP. One can close the shorts and stay long with 5225 as S&R and raise the same as the market goes up. OR
Keep holding the short with a S&R @ 5330.
Thank You All for your contributions on Option Strategy.
My critic pointed out (punctured) an error and I have corrected it accordingly. It does not look quite attractive now.
Due to a long weekend, I may get tied up for the day and visits will be minimum. Trade light.
32 comments:
Dear Ilango,
Good Morning..
We saw another expiry yesterday. The major difference between this expiry and last 2 expiries is reflecting in NF O.I. data. For last 2 series on the first day of the starting of the new series then the NF O.I. was just 2.15 Cr. means it was on lighter side. And yesterday the final O.I. is 2.43 Cr. The addition of extra 2800000 (particularly between 5225 & 5250) will be decider O.I. for this series.5000 & 5200 PE and 5300 & 5400 CE O.I. indicates the heat from day one of the new series. For me if Nifty shall start to trade above 5300 after 3.00 PM to day then only it shall be the first step from bulls to nullify the O.I. effect otherwise to save 5200 this time Bulls will have to pour lot of money, because this time 6100000 O.I. on day one for 5200 PE and yesterday’s 6700000 Nifty O.I. addition is threat for bulls. Up to 5300 we shall see the tussle for supremacy.
Hi..Mynac,
That sums up the various possibilities at work and to be decided by this range of "5225 - 5325".
"ORB" also may play a part today, I hope.
gm to all
Dear Ilango,
Your comment shows the posting time 7.32 AM but it was visible for me at 9.00 AM.
Hi Mynac - do you believe we will trade above 5300 post 3 pm?
Couldnt resist askin before wishin everyone GM !
Good morning Ilango Sir and all blog mates
Sir,
Can I wait to exit NF short for 5230 - 5245 levels? or exit at present levels?
Thank you
Sir,
I have got banknifty sold@ 9774 levels yesterday. qty is 25% of my capacity. all according to yesterdays discussion. now should I exit at cmp or add new shorts at higher levels or keep any SL if you suggest?
hi
dear sir
we short bank nifty @ 9780 yesterday (50% short) now which level we short again and what should be sl for this short position?
regards,
alpesh
Good morning ilango sir and others.
nifty range of 5200-5325 break on either side can give
at least 120 points. I am posting the charts here.
http://niftychartsandpatterns.blogspot.com/2010/04/nifty-range-with-short-term-targets-in.html
thank you
Dear Gautam Bajaj,
As I am a just day trader so the exact figure for me is 5295.Up to 5295 lot of hurdles.Then the that time circumstances and O.I. data will be helpful for my trading.For me even it is very tough to cross even 5295 and sustain there but unexpected is expected here only so every thing is possible.I will be careful.
gm all. ORB gives a buy, should we wait for a dip to close short and go long! (as suggested in pre-market view)
yeh 5299--95 is good resistance zone and will not b easy for nifty to just walk it simply...
a good tussle will be there today to close above 5274 so that weekkly close will be above 5 wema...
alos a good oi addition uptil now seeems not easy to cross 5300..
it will just touch this zone but difficult to sustain..
Good Morning Sir and Friends.
GB - following you. Closing one eye to sleep.
Scrip Name Target at 9.36 am Status
BHEL 2530.58 2529.90 Done
CAIRN 314.42 315.00 Done
HDFCBANK 2012.86 2010.00 Done
HLL 243.46 240.85 Pending
ONGC 1057.57 1058.70 Done
REL 1143.05 1154.50 Done
RPOWER 167.26 165.60 Pending
SBI 2323.49 2292.00 Pending
TATAMOTORS 863.12 864.00 Done
UNITECH 84.89 85.00 Done
BTST eod yesterday exited other than pending ones.
TODAY ALL SUGAR STOCKS ARE BREATHING
(AS POSTED BY RG SIR IT JUST A FLUE)
Thanks Mynac
The Quarterly Results for the following companies are due to be announced today: ABB, ADANI POWER, Allahabad Bank, Amtek Auto, Bank of Maharashtra, GVK Power, HCL Infosystems, Hindustan Const, IDBI Bank, IFCI, India Cements, IRB Infra, Moser Baer, NDTV, Reliance Cap, Sintex Inds, Tech Mahindra, Tata Teleservices, UCO Bank, Vijaya Bank.
NDTV anyone?
sir & family
GM
finally v get ur critics view on options only:(
@raja ji..
bajaj hind-results?
Rajgopal :) LOL.. hedge positions with calls
ull sleep with both eyes closed
GM to ALL
hi
dear sir
we short bank nifty @ 9780 yesterday (50% short) now which level we short again and what should be sl for this short position?
regards,
alpesh
Manu (u,smarty and rochak have pulled me towards Sugar. I am long with you).
Bajaj Hindusthan has announced its fourth quarter results. The company's Q4 net profit is up 53.8% at Rs 52.3 crore from Rs 34 crore. (yesterday).
FROM idbipaisabuilder:
MARKET WRAP
Inside this issue:
Stock Buzz 2
Mid Cap Buzz 3
Day Trading Table 4
We had indicated that a range action was the most likely outcome for the market
for the day although it did remain sensitive to news flows. But since nothing in the
form of a trend influencing news was available during the day, the range action
won out. As far as F&O expirations go, this was one of the more unexciting ones in
the recent past. Index opened and eked out a minor gain to the end of the day,
changing trends little from a day on day perspective.
The Bank nifty showed much better action compared to the main Nifty. In the attached
daily chart of the Bank Nifty, we can find that the recent moves have
shown a greater willingness to trend compared to the NF. The Bollinger band has a
nice upward slope and prices are currently holding in the top half of the band, implying
some strength to the trend. The RSI attached to the same chart shows a
positive reversal signals during the dip of the last week but current rise to a new
high created a divergence pattern. The Rsi levels remain above 60 and hence we
are inclined to ignore the divergence signal and concentrate on buying dips as long
as trend reversal signals are not present. Readers could also follow this index thru
the hourly charts, tracking for fresh positive reversal patterns to signal whether
trend change is coming thru or not. The gap of the earlier day was comfortably
crossed by the Bank Nifty while the NF still struggles to do so. For the day it may
be more worthwhile trading this index and banking stocks (particularly the smaller
ones that appear to be in cracking form!).
For those that are glued to the NF, the levels remain largely unchanged from yesterday.
Unless 5280-5300 can be overcome, rises may be difficult. At the same
time, dips into the 5220-5200 zone can be looked upon as buying areas.
GB - I am ignorant of Options. Don't know hedging. All VIX trades are purely intra. (keeping one eye open are for the ones yet to reach the target).
open are - open is
DEAR RAJAGOPAL SIR,
BUT WE SHOULD BE LITTLE BIT OF CATIOUS TO ALL
(IF MARKET CORRECTS SUGAR STOCKS SENTIMENTALLY
CORRECTING!IF I AM WRONG CORRECT ME )
Nifty is preparing to cross 5295-5300? Will be watched carefully.
Hai everyone.
Nifty week chart is forming a bullish continuation pattern.
a bullish pennant is being formed which can give
at least 550 points on the upside. i am posting the
charts here.
http://niftychartsandpatterns.blogspot.com/2010/04/nifty-week-has-pennant-pattern.html
thank you
close above 5300 - close shorts
NEW POST DONE
Nifty recent high and recent low was 5400 & 5160 respectively = 240 points
76.4% of 240 = 183 points. Nifty retraced from the low of 5160 to 5342 = 182 points
76.4% of 182 = 139 points. yesterdays low of 5202.5 was 139 points off from 5342.
76.4% & 80% retracement from 5203 is placed at 5309 & 5314 respectively.
5314 is also the resistance line on daily chart (connecting highs of 5400-5382-5373-5330)..
5 min is OB, any action required? and short need to be closed, sir?
Post a Comment