A close below 5139 (Weekly low ema) will bring in a larger scale down momentum.
Keep the short term averages handy to sell into rises till the prices end & close near the highs as well as above critical averages.
For medium term investors, Nifty has closed below 50(5192) & 100(5115) sma and the last major support is the 200sma @ 4960. Attempt will be made to test that one soon.
85 comments:
RIL - RNRL VERDICT ON FRIDAY, 10.30 AM
Some hal-chal will be there !!!
@raja ji
Fii sell 937
Dii buy 380
and RIL-RNRL:)
Hi Manu - R u focusing on the two for 2moro's trade?
What strategy will u adopt?
@raja sir
the reliance chart is trading close to it's supporting
trend line. So one can expect a bounce from 990-1000
levels
BUT
One will be wise to stay out of reliance till the
verdict is announced. One may miss a great opportunity
to go long if the verdict is in favor of reliance. But
if it is against reliance the stock may break the support.
so it is best to stay out till the verdict is announced unless
you know the verdict in advance.
thank you
dear san
may i hav ur mail address please
(DOW)n again
@Rg
someone suggesting..will not be bad fr RIL but
fr Mukesh n personal capacity as per MOU!
cant c..will stay away frm both..
will buy RIL call and rnrl put..
or RIL-RNRL calls and nifty puts..
@rochak
:)
@RG/all
wht happened on the day whn High court
favoured judgement fr RNRL..can anyone tell
i m nt remembring the outcm n nifty
@rochak
Mail id: anoopsane@gmail.com
@manu
15-06-2009
RIL - O 1179.85 H 1179.85 L 1082.65 C 1089.40 -7.76%
RNRL - O 88.85 H 112.45 L 86.30 C 108.35 +23.97%
(ref icharts)
Looks like we are in for a good ride tomorrow. :)
Ilango Sir,
Thanks for the response (Nifty Long @ 5094) during market hours today.
I lost one good opportunity because of my own wrong timing.
Making all possible efforts to get that one good
trade of the week executed at the right time to regain the confidence to win.
Thanks & Regards,
Pragati
Dear Ilango Sir & Blogmates,
The MP Values for Friday,
==============
MP Values:
VAH - 5116
POC - 5092
VAL - 5075
==============
Thanks & Regards
Sanjay Kr Jaiswal
Hi Ilango,
I've really been enjoying the discussions, esp intraday. (Amazing that you answer those during market hours!) Very interesting group of traders gathered here rather than the usual solitary struggle and competiton.
I've been lost in this correction for ... well, a whole year. lol. (Next time I think I'll stay out.:)
I recently began to read Nauzer Balsara's 'Money Mmt Strategies for Futures Traders' and got rid of a few bad trading habits. I'll recommend it to any of your readers who might have felt equally out of depth.
Dear Yoda,
Thanks for your recommendation,and here is the link:-
http://search.4shared.com/q/AgwD/1/text_office/Nauzer+Balsara
Thanks YODA for the useful resource.Can download from the following link-
http://www.filestube.com/59df5df57b7c370e03e9,g/Money-Management-Strategies-For-Futures-Traders-By-Nauzer-J-Balsara.html
Pl. share more resources on Money Management/Risk management strategies.Most important but most overlooked aspect of trading.
Dear Yoda,
You are always welcome here.I have read your previous comments,(probably last year) when you were one of the Active Blogmates then.
Thanks for your suggestion.
Thanks mynac
saw ur post,after posting above.
DOW FELL 950 points.......retraced almost half of that...now 490 points down...almost 9% down..biggest after 1987...i trust i am watching something can be seen once in a lifetime...
Historic----I did Just saw dow ---987 on ticker!~!!!!!!!!!!!!!!
@assortz
same here..
meri to jaan nikal rahi hai..
i took huge longs fr cutting n morning bfr RIL-RNRl
manu,
me too hold longs but luckily hedged with PUTS as advised by sir...i hope it would save me...but the worry is about closing the conservative shorts today :)
manu
i am in same boat
what shud be our strategy u think
actually i am over leveraged
Dear Gautam Bajaj,
Are you watching?
maria s saying some technical problem was thr..
Manu,
but whatever may be the cut in the morning will give a way to sharp reversal in intraday to cover our longs...anyway master is going to be heavily busy tomorrow...may be our comments section will also hit 300-400+
Dear manu,Dear assortZ ,
Easy to say keep cool but it is getting covered.So let us hope not best but at least good for tomorrow.
i will stick 2 my plan ..will cvr before ril-rnrl..
will bear the loss..
@mynac
GB s sleeping..
he cvrd at 5090 sl
and suggested Me too..took very less puts..
dow will recover and close just 100 points dwn..as per ganna
hats off to i lango sir
he said
we are in downtrend
he clearly said
if longs to kept only only with hedging puts ( which i could not read before 3.40 due to power failure, misery to not to buy a power back up for 2000 odd rs. can cost me over ____ tomorrow,
salute to gautam also
hats off man
7 th may means 7 th may
Dow plunges 1000 pts now. Never thought I will see it again so soon after 2008
I was watching cricket match and suddenly during ad i swiched and dow is falling madly.
Dear Ilango,
"JUST NIFTY" mid night session is going on with out your comments.
mynac,
GB has gone for sleep last week and woke up only today..he should have woken up tomorrow...its amazing that his 07th May works out COOL!...
yes you are right...its cooling off..even if not today..it will in a day or two...
mynac,
i think tomorrow it will be tough for you to as PUTS and CALLS will be heavily bought and sold...:)
mannu
as per ganna
who is ganna
and hwo are u so sure
and mind u GAUTAM
i am in heavy loss heavy heavy loss
please dont mind
i wud desperately need ur kind guidance to recover all my losses incurred due to my own foolishness , because i had been believing in ur date theory
alas
wont be able to buy anything tomorrow morning
but i hope and trust , under ur date theory and i lango sir s TA guidance, i wud be able to recover my lossed
HATS OFF to i lango sir
what a determination to say clearly
we wont bounce back without at 4960 on ticker
and then he asked everybody
to hedge long with puts
AMAZING STUFF I LANGO SIR
Dear manu,
"dow will recover and close just 100 points dwn..as per ganna"
if this will come true then in spite of 100 points fall we can expect here a rally tomorrow!
but manu
what is GANNA
Ok now down only 487. recovedr 650 pts and now falling again. i am worried why this happens only after covering shorts at 5045 and taking long posn at 5077. i bougfht 1 put only to hedge nifty. but i did not buy anything for bajaj sugar long which i bought at 118. that will surely touch 100 tomorow. it always goes down after i buy.
anyone know what sir meant mby telling, conservative shorts are intacht, hold long bu hedging with puts.
Dear assortZ,
In spite of recovery,I was skeptical regarding today's recovery,due to 3 Cr O.I.such kind of huge O.I. which Nifty was carrying at that time.
Manu,
My sincere suggestion (please dont mind) is not to close longs in a hurry in the morning...let us discuss with sir and take call...
to relax - pls read the recent post of "Xtrends"--posted just now...you can access in "international blogs" section here...you will be happy to read that
@rochak
method used bu GB fr ths 7th may..
he gv me dow chart..
@mynac
i m alerner in it..i didnt say ..some ganna reader said online..
dow slipping again
what so special ASSORTZ about xtrends article
please brief
and MANU
why do u think dow will recover over 400 points from here only in 1 less than 1 hour, any reason and then we do not know any reasons for this PANIC
@assortz
nothng n hurry..
before ril-rnrl?
Let us hope for our market to behave at least sensibly tomorrow.Dear Ilango's comment will be healing words tomorrow.
mynac,
yes, i read your input in the afternoon..still the steam is left and thats why, sir has not closed the conservative shorts and also advised us to hedge longs..Timely advice is saved my capital now..
dow recovered 650 pts and now falling again. now down 500 points.
i am very sad i convered my short at 5045 on may 6. i made good progfits but holding for may 7 i couldh have easily made more. even more foolish was buying nifty at 5077 and not selling it after sir had stated longs can be held only if closing is above 5105+ only luck is i also bought 5100 put for my nifty, but i also bought bajaj sugar at 118 which i am carrying. tomorrow it will touch 100 i think.
hi midnight raiders,
coudn't resist and thought of jumping in...
its gonna be mayhem in the morning with asia opening b4 us. but yes, hats off to illango sir and gb... intution it is:)
ok folks
let us discuss
at least members which are woken
and in the boat of unhedged longs
what shud be do
and since we all be definitely in deep lossed
whom shud we luk upto to recover all lossed
i mean
who according to u is doing best and hard work at this forum after i lango sir
my vote goes to GAUTAM and SAN
kindly participate
as nobody is gonna hav a sleep now
what say
now..we all eagerly await "pre-market view"..i feel like waiting to watch rajini movie in first show..RG will second my view..:)
mynac,
i think midnight session is becoming early morning session..time to sleep to start day fresh..
good night mynac,manu,KG and rochak...hope for best :) bye
coverted
now..we all eagerly await "pre-market view"..i feel like waiting to watch rajini movie in first show..RG will second my view..:)
mynac,
i think midnight session is becoming early morning session..time to sleep to start day fresh..
good night mynac,manu,KG and rochak...hope for best :) bye
Good Night Everybody,
Let us hope best for our market tomorrow.Bye
if asia react to only to DOW close and not intra-swings, then we may find support around 4940-4950 which is month low ema and bounce back..let us see.. good night all
dow recovered
nobody participated
on my call
anybody there
CNBC saying it might be a system error
HATS OFF TO U
how come did u come here
we learned that u were sleeping
good morning friend
AUTAM
i am in heavy loss heavy heavy loss
please dont mind
i wud desperately need ur kind guidance to recover all my losses incurred due to my own foolishness , because i had been believing in ur date theory
alas
wont be able to buy anything tomorrow morning
but i hope and trust , under ur date theory and i lango sir s TA guidance, i wud be able to recover my lossed
HATS OFF to i lango sir
what a determination to say clearly
we wont bounce back without at 4960 on ticker
and then he asked everybody
to hedge long with puts
AMAZING STUFF I LANGO SIR
I predicted it :)
Gautam Bajaj sir
Where will nifty find support tomoorrow if dow closes with 300 point down. we will have gap down to 5000-5030. then what can happen after that.
i have nifty hedging with a put. no short position at all.
ok folks
let us discuss
at least members which are woken
and in the boat of unhedged longs
what shud be do
and since we all be definitely in deep lossed
whom shud we luk upto to recover all lossed
i mean
who according to u is doing best and hard work at this forum after i lango sir
my vote goes to GAUTAM and SAN
kindly participate
as nobody is gonna hav a sleep now
what say
RELAX!! Whatever you see of DOW falling 1000 pts
is a system error - its all across stocks
i was awake to watch cricket match and i cannot even see what is happening with the match. all indian adrs are down 3 to 5%. india etf is also down 3.5%
dow closes 350+ points down (without averaging)
We will have a gap down opening for sure.. maybe we will see support
at 5020 / 4990 (at opening)
rochak said...
dow recovered
nobody participated
on my call
anybody there
CNBC saying it might be a system error
I'm revising my view of the market - We maybe headed to
4400 / 4200 soon
so tomorrow is a multimonth bottom for sure, not multimonth, then at least for till JULY,
is it GAUTAM
I think tomorrow.. people will "buy" evey dip..
tomorrow RIL / RNRL judgement
with the gap down i think there will be lot of buys
and what are GB SPECIAL DATES FOR those 4200-4400 gautam
Rochak - If i look at the TA aspect.. Nifty can fall to
4969 / 4853 and bounce.. and continue falling to 4400
or 4200
Things can change if 4969 is taken out.. for the bulls
I have 18th May / 7 Jul / 9 Aug
I had pointed out in my chart that we will be Over Sold
at 4950 - but mkts can be oversold or overbought for days
weeks and even months..
My advice if you are trading tomm
See Buyer / Seller action
http://www.niftylivecharts.com/
Gautam sir
if nifty goes for 4200 bajaj sugar will be zero and i will file for yellow notice. just a very late night joke. bajaj sugar goes down 10 rs each time nifty falls by 2 %.
why you have suddenly changed your view now to lower level. is it because you are now expecting dow to retest back today;s low ? if that level is going to come please suggest for us a good place to establish short position. i want to recover todays loss.
if you are there please reply or good night. nz is losing the match too.
And take trading decisions. The law of demand and supply
governs prices
no no no gautam
ur views are confusing
let us clarify
and this is b coz
i have been ever believing in ur dates
u mean to say
a bounce back from tomorrow s of say 4950-60 to again 5100-5200 kind off levels
and then VIX rules again
and then we may see a bottom placed in nifty around 18 th may, i.e. 4200-4400, a multimonth bottom till 7 th july
then we are again for a down slide ride till 9 th of august
is my understanding right
if not
please explain viceversa
and kindly dont mind
sorry to bother
but u know this is a special night
what say
Most people will sell @ opening due to chaos - Why?
News that dow fell 1000 points!
It's a tricky situation to be in
if not a golden night
Sorry.. i was reading all comments
VIX which is now at 24 - I think will move to 35 / 38 or 45
Which is not good and may indicate further fear in the mkt
Here is my analysis - Earlier i thought this maybe a 3 wave down
Ilango mentioned it was 5 wave down - I agree
Wave 1 - 5164
Wave 2 - 5330
Wave 3 - from 5050 upto 4595
Wave 4 - 4750 / 4850
Wave 5 - God help! 4200 / 3800 (apox)
Alternatively - if wave 3 down
Last wave will end at 4969 .. and one last upmove
to 5450 - 5750 - 6250 (remote but possible)
If it's 3 wave down this will be a 61% retracement at 4969 and end here
Anyone there?
I'm loggin off
r u there gautam
or anyone there
HI GB.
The bottomline of y'days DOW crash seem to be....." A vicious market sell-off like Thursday's can be exacerbated when quickly sliding stock prices turn stop loss orders into market orders, meaning shares get sold at any price available "
family MOU will not bind
natural resources belong to Nation.
verdict
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