For us, Nifty has its 200sma @ 4960. As long as it does not close & trade below it, this could be construed as correction only.
Tech.table gave us a clue about weakness by not closing above "Day Low ema".
Trade light on intraday as sharp volatility will be there.
4980 to 5080 could be a range.
Singapore Nifty has filtered out the panic of DOW weakness. Asia is trading calm after the storm.
And that is some "nocturnal activity" in the blog...
"Yoda" can contribute big on playing the falls..
58 comments:
gm ilango sir
and all blogmates
not able to participate since last 2 days, as i wass not well.
day before yesterday after seeing my name on blog , i was amazed.
i want to share 1 thing with all blogmates that 1 of my best frinds sent it to me to teach lesson as im always fiddling with my trades and to show me my weakness of not being disciplined.
he do all trades on my behalf in my account as well as his, he ends up getting something out of market and i always on giving something.(bad habit-so he was not happy with me)
i dont take credit for that, it was a lesson to me and i just forwrded to ilango sir.
@rg, mynac,gb,rv,assortz,sugardaddy,rochak,govind
i missed yesterday midnight session and went through it in mng. i was scared as my frnd told me to close all trades, despite that i sold 1 put of 5000 that too naked.lets c wat happens.if it would have closed abv 5116, i may have 2 lots of nifty also.
so closing saved me.
but still i think i will end up giving something to market, bcoz of my fullishnes and trying to oversmart as well as predicting beforehand what the market will do :-(
lucky that i missed the midnight scare.
but after seeing the charts, i can only expect worse to come, and i agree with GB's observation.
(INTUITION)
sp 500, should consolidate around 1100 upside cap at 1180 OR even at 1150(most probably down move-intuition).then next down or break out above these highs,,, will c as time comes
may b after a mild recovery from bearishness.(nifty)
in edwards and magee , somewhere its written,(or may be in some other book-- not able to remember) that tail of panic selling hammer will be touched.
if its technical error its ok, but if its selling then...........:-(
u can remember panic selling of nifty at 2200 and recovery, though it has not touched the lows, but went half to it.
will try to catch with u guys during market hours.
HI GB.
IS IT UR PIC
REALLY NICE
Y DONT U TRY FOR MODELLING, I THINK U R BETTER THAN MANY OF MODELS
AND IM SERIOUS NOT KIDDING
AS U CANT BE IN JOLLY MOOD AFTER U C SUCH TYPE OF CARNAGE
PLUS WHEN U SOLD 1 NAKED PUT ALSO ;-)
Good Morning all.
gm sir,
thanks for hedging suggestion on longs..luckily yesterday was my first PUT hedging..
Wish that it wont be that much noisy here as we had last night in dow..
wish you all good day mates!!
Today's close will be 5000 +/- 20 points.
Should longs be exited completely? I've got dlf 340 call :(
by the way can sm1 tell me what will be the effect on USD-INR futures?
Hai everyone
Nifty as of now is inside the channel in line chart. But
things might change at EOD today. I am posting the chart here.
http://niftychartsandpatterns.blogspot.com/2010/05/nifty-line-chart-in-channel.html
thank you
5105 monthly 5-ema watch it
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 "
"4965" 10 month sma & 4992(40 week sma)are the two levels to watch out for.
Mr. Elango Good Morning
At what level I can go short Bank Nifty in the morning.
SUch gap downs generally do not give a selling ops.
Levels mentioned in my stockwealth blog.
7th May - BOO!!
Will we tank post 1030?
My blog was restored by Google! :)
4965" 10 month sma & 4992(40 week sma)are the two levels to watch out for.
this is for nifty
so whats for bank nifty level ?
regards,
alpesh
@ alpesh,
You must watch "Stockwealth" for levels. Due to UPS problems, it was updated late.
9385 & 9345 are the two levels I am looking for.
gm to all
@rv,
@gb
tussi great ho.
sir ur put left my underwear, pant to longs ne fir bhi
utar di.
can i play intra long at levels to part make up,
pos divergence vanished now
Sir
Goodmorning everybody. i was awake till 4 am. could not sleep after watching dow running maqdly.
Sir, can we follow ORB if it breaks to downside with very tight stop loss.
Nasdaq to Cancel U.S. Trades That Moved More Than 60%
2010-05-07 02:55:55.756 GMT
(Updates with the number of securities whose trades will be
canceled in first and fifth paragraphs.)
By Michael Tsang and Lynn Thomasson
May 6 (Bloomberg) -- Nasdaq OMX Group Inc. said it will
cancel trades of 286 securities that fell or rose more than 60
percent from their prices at 2:40 p.m. New York time, just
before U.S. equities plummeted.
The Dow Jones Industrial Average plunged almost 1,000
points before trimming its drop and ended down 347.80 points, or
3.2 percent, at 10,520.32. About $700 billion of U.S. stock-
market value was wiped out in less than 10 minutes, according to
data compiled by Bloomberg.
Nasdaq, which investigated trades between 2:40 p.m. and 3
p.m., said it didn’t find any technology or system issues that
caused declines of as much as 99.9 percent in some shares.
Citigroup Inc. may have been the firm that made an erroneous
trade, CNBC said, citing “multiple sources.” New York-based
Citigroup said it found “no evidence” of erroneous trades, and
CME Group Inc. said the bank’s activity in CME stock index
futures didn’t appear to be “irregular or unusual.”
“Somebody hits the wrong button and everybody heads
through the same door at the same time,” said David Goerz, who
oversees $17 billion as chief investment officer at Highmark
Capital Management in San Francisco. “It clearly was a factor.
When you have a lot of skepticism and nervousness in the market
place, that just exacerbates the problem.”
90 Percent
Accenture Plc and Exelon Corp. were on Nasdaq’s list of
companies and dropped more than 60 percent as U.S. equities
tumbled, before recovering by the close. The list also included
some bearish exchange-traded funds that surged as stocks fell.
The decision means that trades in Cincinnati-based Procter
& Gamble Co., which slid as much as 37 percent for the biggest
intraday drop in the Dow industrials, would stand. The world’s
largest consumer products company said stock trades that pushed
its shares down were probably an error.
Philip Morris International Inc. of New York, which sank as
much as 96 percent to $2, also wasn’t included on the list of
companies whose trades would be canceled.
Accenture, the second-biggest technology consulting
company, fell more than 99 percent to a penny. All trades
executed below $17.74 have been canceled, Bloomberg data showed.
The stock closed down 2.6 percent at $41.09.
Exelon, the Chicago-based utility company, plummeted to a
hundredth of a penny before closing down 4.2 percent at $41.86.
gm and regards to all seniors
Ilango Sir,
Good morning Ilango Sir, and all blog mates
=========
Sir,
I have no positions in Nifty future. Can short below 4992, or give me some suggestions
Thank you
Gm sir,
At yt levels we can average yesterday longs?
or book loss & exit?
Mkt oversold.. ill tell u when to go long..sideways action is boring!
Piyush! God's great :)
Hi Dr - Sad to hear that the Doctor was a Patient. Hope you are very well now unlike the markets. "Sugardaddy" great find.
===
GB-Gala dikao,mala thayyar hai. Great work GB,that too without the SI trumpeting. Thanks.
===
San(e) - advise on RIL. Thanks but being a romantic adventurer, I am in. Reasons verdict against is a verdict against the Govt. RJ Milani appeared for the other side. And I may be laughed at.
(good chance for the Govt to take legal umbrage to oil price decontrol).
===
One could sell for an intraday trade (Small) from 5020NF to 4980 or lower. And reverse to long from there.
Keep just 10 points as SL.
Dear Gautam Bajaj,
Do you see any chance of FALSE INTRA DAY BREAK OUT below 4960 by bears to just cover their huge shorts?
Sir & Family..
GM..
@Dr. S
"sugar daddy" happy long n mrng and exit..
@RG
ws wrd bcz didnt hedgd fully..
thnx 2 Gauti as i made him woke up 2 cum 2 ths blog
fr all n d night ..
illango sir one more selfless in making:)
same attack
Thank you Ilango Sir
Dear Ilango,
Thanks.Got the answer.In this kind of market few points make no difference.
hi all holding shorts since 5280 should i close?
@anil
spoke 2 a frnd wrkng n NYSE tech dept..
sab ki class lagi hui thi..replied me n d mrng only..
he ws suggestng a cascading effect of orders..
in lay man..the diff between trigger price and limit price ws large..
he ws sayng it s justified n electronic market..
it s a caution fr us as he MTM cn get order sqrd off aotomtcly..
will let u all knw wht actually happnd whn he responds:)
ORB for NF is 5000 to 5028.
Thanks.
Bye everyone.
just 10 sl in nF looks like chips, specially in this volatile market. I guess better to get into longs at this level or slightly rather than risky trading in this volatile market
Friends,
Though the down counters as per N-50 TA is no surprise considering the trend, living by the book by the Up counters gives great satisfaction. Watch BPCL,CIPLA,ONGC,Ranbaxy,Suz,SBI. Most have met targets, I am confident on the rest.
GM ILango sir, i m confused what conservative trade to do, long or short??
Plz give level for that, i think we sud start short at break of
4960? or long if ORB gives above 5028 NF?Is iT ALRIGHT??
thanks
Thnks RG.
Mynac - Overall trend seems down - But mkt will move sideways
or up till the judgement is passed.
Favor RIL?
Manu :)
Sir
IT stocks like TCS, Wipro are beaten by more than 12%. Dollar is rising. Can only favour for IT
Can i place order to buy Wipro near 620-630 area. 630 has been previous support. So if a bounce occurs it should rise to around 680. Is my thinking correct.
Mr. Elango
I am holding 4800 put @ 47 shall I holding for two days.
RG - i aint punjabi :) lol
@ bizagra,
For Conservative trade: One need to wait for higher level to reinitiate shorts. In the meantime, do small intraday trades.
If you get another low below 5000, that would be good to go long for the very short term. Will update on this after 30 to 45 minutes.
dear GAUTAM and SAN
apart from ur blogs
please keep updating here also
as soon as u have got any clue for longs or shorts
as most of people here are in shorts and comfortable
but few like me
are trapped in longs also
thanking u all
Mr. Elango
I am holding 4800 put @ 47 shall I holding for two days
Synopsis of the book "VELOCITY OF MONEY"..
An inquisitive young lawyer is all that threatens the success of a plot to precipitate a capital-markets meltdown that will yield its villainous instigators a megabuck return: an impressive first novel by the pseudonymous Rhodes. Soon after joining Wolcott Fulbright, a Manhattan-based investment firm with world-class credentials, attorney Rick Hansen becomes curious about the apparent suicide of his predecessor, Thomas Bingham. He soon determines that the dead man was probably murdered and steps up the pace of his unofficial investigation. Rick's inquiries quickly bring him to the attention of the nine- member cabal that retains an inside man at Wolcott and had recruited Bingham as a go-between in a scheme to drive stock prices down by as much as 50 percent, using automated trading programs that target derivatives (risky hedging instruments whose values derive from other securities or commodities). Under the manic direction of an evil genius variously known as Philip Colbert or Charles Stone, the high-tech conspirators (who call themselves the Contrarians) engineer a one-session drop of seven percent in the Dow Jones, a test run Wall Streeters dub ``Freefall Friday.'' While preparing for their climactic payday, the intriguers also keep tabs on Rick, who's coming ever closer to unraveling the masterplan. Indeed, the amateur sleuth visits a supercomputer center outside Pittsburgh, where he joins forces with Freddie Zaraghi, a savvy young hacker well versed in chaos theory and market crashes. With Freddie in tow, Rick returns to New York to mount an 11th-hour defense against the doomsday assault the Contrarians have unleashed on the world's financial capitals. A blue-chip debut thriller that brings new resonance to the old saw of getting killed in the market. -- Copyright ©1997, Kirkus Associates, LP. All rights reserved.
@ manu
Really thanks for that feeb\dback frm ur side, so plz give us update b4 mkt closing, so that v have a discussion to carry our positions or not...
@ gautam & RG
A news is going on judgement vl b more of a neutral rather than any party specific.
both ways govt vl loose
if rnrl wins - govt vl miss taxes
if ril wins - ntpc need to buy at those levels from ril
After long I am writing in this blog comment.
Heard that yesterdays DOW fall was a hacking attack .... is that true.Or its just the $16M and $16B typo story
Ilango sir, any view on gold.
looks like huge buying is going on in NF. See tobuy and sell quantity diff in may NF detail
My prediction was that today Nifty will be at it's lowest
We may see upmove from here on?
OR - continue towards 4850 / 4400 / 4200?
total NF buy 1444000 toal sell just 640000
@ Prosenjit,
I do not follow Gold regularly. But you can get a view in "Tony Caldaro's site" - Elliott wave lives on.
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID1606987&cmd=show[s67199592]&disp=O
He has been quite bullish on it for some time.
Dear Wealth Creator,
All this is manipulated. So just ignore this data for today.
Sunil
rochak will do
anil thx :)
From a friends blog:
.RIL wins
Why? Look at price movement in past 2-3 days. RNRL tanking and RIL steady and marginally positive
2. RNRL wins
Why? They won in High Court and SC might go with the arguments which swayed HC. Its always difficult to overturn a verdict.
3. Limbo
No clear judgment. This appears remote but we never know.
So technical say RIL wins and fundamentals say RNRL. Wonder which one wins?
hello ilango,
pls open price
thanks
tsrini74
NEW POST DONE
Open: 5027.85
Thanks Ilango sir.
dear moneyinrupees
thanks for caution
Sir or Option experts.
1. I bought 5100 put when nifty was trading at 5090. Is that the correct way to buy put. Same strike price where nifty is trading or instead I should have bought 5000/5200 put.
2. If i have to book profit, which is better strategy ? buy put or keep put and buy nifty ?
Off Topic: Everybody keep broker phone number, etc ready. Here i electricity cut, then back, now cut again. So be prepeared for net problem, electricity problem, etc.
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