Very short term: Weak below 5176 & strenth above 5193.
Short term: Weak below 5120 to a target of 4950.. Strength above 5200 to 5240/5270.
Such short ranges can result in all kinds of corrective moves ... so trade light.
I could argue both "Bulls & Bears" cases convincingly and that leaves the trader in a limbo..
Some you trade with TA...some with your intuition..or like my critic did..write a CE and relax.
10 comments:
Ilango sir and friends MP values for tomorrow.
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14th May MP values(Nifty future price)
VAH- 5196
POC- 5179
VAL- 5173
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Hey Sir,
I would like to know, how we could find a trend reversal or its a correction in an IntradaY ? any indicator could help ?
Awaiting for your reply.
Murugan
FII's Net Sell = -15.57 Cr
DII's Net Buy = 222.4 Cr
-Hari
Dear Ilango,
"Some you trade with TA...some with your intuition..or like my critic did..write a CE and relax."
For tomorrow's trading, despite overnight or morning clues, whatever there will be, I am with your critic only.Any up-move will be restricted by Bears.Even writing in 5200 PE will be ignored.On the contrary positive clues if there will be any then it will be helpful for Bears to go short on higher levels.I will watch 5120 for tomorrow's trading.
Sir
From the NSE site where we can get the daily scrip volatility
Thanks
Bala
Hi Friends,
I need some clarification with respect to Option trading,
1. How should i identify whether the people are buying or selling by looking at OI numbers.
2. What is exact meaning of call or put writing.
3. If i want to buy call or put, should i also look at the OI numbers as an indicator. If yes, how to make judgment. Suppose if OI says 1lacs are addedd, which means how many of them went long or how many of them short
Please help me to get better understanding for the above points, so that i can improve upon my knowledge better.
Thanks
K7...
Hi,
Since we are talking of what the nifty range now is, i thought i would put in my reading which is simply that the nifty went in a range expansion and now will perhaps trade in a range contraction for maybe some time (maybe a week) and then decide its next move (up or down) this also coincides with GB"s dates of 18th May for trend reversal..
I may be wrong.. want experts to comment ..
thanks
Shazia
@Kesavan
one should bye the call or put 300 + or - from nifty.
Call & put writing means selling a call or put respectively.
its really hard to identify the seller or buyer of any call or put but one should generally avoid taking high OI call or put. Like same of today we have taken 5200 PUT @ niftty @ 5180-175.
Call or put more closer to spot price of nifty gives more movement & traded more.
You can refer to some books also for this and clarify the doubts if any..!!
HOPE THIS WILL HELP.
@ Illango Sir,
Sir I think of market to be negative in coming days as it has been restricted below 5200.
It might because of your comment that there is some weakness in Dow's market, when it fell to 1000 points in 35 secs & it was not because of any techanical error & now new news of inquiry on Top most 8 banks suspecting some fraud info...
Just a thinking, Pls rectify .
Maybe the trend reversal has kicked in today?
Not necessary that we stick with 18th / 17th.
Friday's are usually down days! A good fall tomorrow will have cascading effects even on Monday and Tuesday next week :)
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