Dear sir sensax high 21302 is 80% ...todt high
@ Aly trendline connecting 6244-6274 is broken.ButTrendline connecting 6140 & 6244 is not broken and its value would be approx...6282, 80%.
@ Unknown,Tata steel may have commenced its 5th wave.5.i is done from 370 to 383 and 5.ii is unfolding.As long as it holds 373-375, upmove is on.
I am expecting from here the bear will get thumbs up lets wait and watch.
@raj.abjDear ILango sir,Good afternoon,we are very lucky to have a master like u, for regular updates....
Thank you for your updateinteresting to see the trendline connecting 6347 and 6333 highs around 6298 in the chart. How important is this line?
if its break6298, from deep low it would act as resistance .
@ Aly ,If it is a break-out (yet to be confirmed), prices retrace back to the break-out-trendline and move higher. Moving back into the trendline would keep it back in trading mode again.
Thankyou Sir and many thanks
Sri ram any views on dlf sir
@ Ram: No idea on DLF
thanq sir ji
6314 6318 ... is 50%-61.8% retrace of the last fall from …… 6330 to 6298 80% is - 6324 If weakness is to return, it should be around 6314 6318 Strength gets confirmed above 6318 OR 6324
Dear Ilango Sir & Blogmates,OI Table Update at 1:00PM, Pivot-6300, S1-6268, R1-6352, VWAP-6325The CE writers have taken control of proceedings with Huge addition at 6400-6500CE levels, much of the addition at 6300PE from the morning has been liquidated, Weak below 6297NF…Thanks & Regards
6200 call OI -7%Wt indication abt that???
Big 4.20 lakhs OI reduction in 6200PE when the market is moving UP...
Nowadays Master frequently repeats the 61.8%-80% level of all the moves to show the importance...a most valuable lesson taught by him. Sometimes it looks like sheer magic, like the current fall from 6318. Thank you Master.
seems like today is all options decay day ... boring... day ... booooo.... :(
GM Master & all blogmates.Profitable day 2 all
prabhat, i still hold some good amount of open 6350 CE lots @ 46. any advise?
New Post Done.
@karthik: Not sure my friend. You had the opportunity to exit today with profit & you did not? The more time nifty fails to move past 6330, the more it starts to decay given that expiry is nearing. Why trade at odd spots (like 6250, 6150, 6350 while you have 6100, 6200, 6300) which have very less OI. Take this as a lesson - never trade in options with very less OI - most times you end up getting trapped.Can't say. I think you can keep 6300 NF as SL. If this is broken, then it will test 6250 NF.
Ok. Thanks for the input on trading on lots with huge OI. I learnt that pretty badly this time. My big dilemma is how long can i keep my position open with 6300 NF as SL? This friday or till expiry? because the technicals seems to be little non decisive on the breakout/breakdown for this series. It might be a honky-donky ride for both bulls & bears..