Below is a tentative path but the market may choose differently too. New highs are likely and though a short term top looks likely(as per TA/EW) in a couple of days, FIIs buying says otherwise..
Tuesday, July 13, 2010
Nifty PreMarket View.
FII's have been buying heavily the last two days and they are net 2870cr buyers in July till 12th.
Below is a tentative path but the market may choose differently too. New highs are likely and though a short term top looks likely(as per TA/EW) in a couple of days, FIIs buying says otherwise..
Below is a tentative path but the market may choose differently too. New highs are likely and though a short term top looks likely(as per TA/EW) in a couple of days, FIIs buying says otherwise..
Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor... -
If the steady FIIs inflow reflects in the prices, 5405 should be protected going ahead and market may encounter minor corrections and keep m...
40 comments:
USEFUL LINK
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thank you
jo jo
Hope it doesn't go much beyond 5400 coz i exited 5400 call yesterday :(
Dear Ilango,Good morning,Thanks for the word of caution."FIIs buying says otherwise.."
When the global markets are in unanimous pullback/uptrend mood due to "no bad/adverse news as well as over sold condition" and our market in spite of stretched short term technical weakness,following the same path,day traders should keep themselves away from trading heavily.Going long from here is risky due to unfavorable risk reward ratio and going short at current level is too risky due to above said facts.So would like to wait for market to decide its path.
gm everyone...
hi mynac...
Options OI - CE/PE
5200 - 27/85
5300 - 50/81 - 7L calls unwound, 10L puts added.
5400 - 75/28 - 7L puts added
Good Morning all!
Mynac,
I think what Ilango sir means to suggest is that though TA/EW suggests a "short term" top, the recent aggressive FII buying could take it even higher than his EW top estimate.
golfdude, pl. forgive me for my ignorance as i don't trade options. But in general - when there are more puts added at a certain price - does that mean that many people believe that market is more likely to move towards that price? and when you say more calls - what does that also mean?
infy results out.not according to market exppectation
Infy results are disappointing - will it affect the market today?
http://indiaearnings.moneycontrol.com/sub_india/compnews.php?autono=469614
Hai everyone
I am posting the Nifty daily chart analysis. I have also updated the CNX IT Chart.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-daily-chart-analysis_13.html
http://niftychartsandpatterns.blogspot.com/2010/07/cnx-it-daily-chart-raising-wedge.html
Thank you
@Janak,
put/call ratio is a contrarion indicator. So when puts are added, sentiment is for market to go down - so it goes up. And viceversa. But this is heavily manipulated by big money ( FIIs ), where they add puts to keep the market up and end up selling futures to longs. And one good day, they will cover all the puts and the market will tank - and the longs will be baggage holders.
Hai everyone
Nifty futures chart with support and resistance lines.
http://niftychartsandpatterns.blogspot.com/2010/07/nifty-futures-chart-with-support-and_13.html
Thank you
Good Morning Sir and Friends.
Congrats to Infy Shorts. First major result -ve. Sign of things to come?
Good Morning Sir & All Blogmates.
Puts are written by the Bulls betting that the market will not go below the strike they write.
Calls are written by the bears arguing that the market cannot go higher than the strike.
Both do with the intention of pocketing the premium by end of expiry.
For example, write July 5200 put, get 30rs as premium and on expiry day if Nifty is even at 5201, the writer gets to keep the 30Rs premium.
If my understanding is wrong, please correct.
Good Morning ALL
Hi
Have some issues reading the chart - What is the HEMA for today ; is 5247 like it was
for 12/July ?
Many thanks
looking at the buying in NF - bullish tone seems to be intact - infy or no infy
i guess, infy's failure will divert all buying into TCS - results on 15th - any comments pl.?
Sir & family..
Gm..
Fii prov fig of 9th july was 1104 cr..actual data (SEBI)came
is 3465 cr..this is huge gap..really huge..i track regularly..
whr d money gt adjusted..in bse stocks..bulk deals..whr??????
Ilango Sir, I think, slowly i am able to understand the table you mention everyday morning - since pivot today is 5382 and first resistance downward is 5362 - one can buy now (5374) - is my understanding correct?
i think i was write - solid buying has begun in TCS
The bulls are still firmly in control.:)
Yesterday I thought I was clever and shorted for a few points. Just escaped being slaughtered by this gap down. lol
These intraday moves are so deceptive.:)
RPower is really struggling. Is it a worthy Short @ 178+ in Aug Fut?
"I was right"
hey RG - Good morning, today TCS, WIPRO looks a good buy for intraday - anything else?
@Janak, you've always been right.:)
You've been long and predicting the gap ups for 2 weeks now.
"When help is extended to the Poor it is called Subsidy. When the same is done to Rich man it is called "Incentives". Govt's will cut Subsidy but not Incentives" - Guess who? (Mr Reddy ex Gov of RBI).
I do not whether Janak really wants to know or simply asking but for put /call writing means sell that particular price so if you a sell a call you expect the market to fall then the current price with an intention to buy the same at a lower rate and viceversa for puts.One also buys them when they wamt to carry the market in some direction also used to hedge your higher buying or selling positions so that if a contrarian player acts somewhere opposite to your view you are not at a total loss.Normally it is safe to avoid trading in call/puts except under expert advice or if you have a very sure shot news like when the nuke deal was to be signed NTPC was facing a constant selling and rs 200 callalso was going down from a specific price mostly range of rs1.80 to 1.90 but when the market opened next day the same call shot upto rs.9.One must only use a marginal money earned from profit as most of the pictures which are floated in the market are predesigned by big/HNI people.Also it has a comparitively higher brokerage . you can do an excercise by simply maintainig a daily record of nifty open interest the increase and decrease in all the calls of a range within 500points of the current nifty price and analyze at the end of the month.
Yoda, i wrote that as a correction because in my earlier post I wrote "I was write" :-)
Janak - I learnt a term "dead cat bounce" here. Ok - if TCS gives a few bucks. But results cannot be different from Infy. I am one who has been crying about the Euro Effect on Indian IT companies.
Good Morning All
Have a nice profitable trading today
lol, alright, Janak.
Yesterday I was hoping the market would correct a bit, today I think its not going to happen so easily.
I do believe that market will attempt to touch 5400 today - anyone else?
Holding 5370NF, 20pt+ rise possible, only to correct back down again.
RG, TCS - i believe will have better results - they've different way of working than infy - anyway, scalped a couple of rs. already :-)
Ilango Sir, hi! look! now NF have a premium!!!
NEW POST DONE.
@RG polaris has tanked but one can buy for a decent gain once it touches intraday low around 203 as there was a heavy ?informed buying yesterday.Also NHAI coming out with many tenders next month and IVRCL a big infra player also RELCAP watch geared to cross 825
and yes I believe market will cross 5400 today
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