Hope everyone had a good weekend.
Returning back, the markets will continue where they left off on friday with no news to alter sentiment as such.
Those who had taken long/ short trades over the weekend will not have much to show by way of profits, because the market profile gave us a neutral day on friday.
So the buyer keeps his advantage because he kept prices over value on friday, but he will be severely tested at 5045-5065.
The seller has shown that he is waiting to sell at the above mentioned prices.He will have control a bit, when prices break 4990.
Let's see how it resolves.
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Trade Alert
Description : Sell Nifty Future
Cost : Below 5030
Sl : 5046
Target : 5005.
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It seems like another quite day of trading today.
Notice the open of the future today and the close on friday. This shows that there is no major change of sentiment from friday and buyers/ sellers have more or less agreed on value.
So expect tight movements and a narrow range.
The resolution will happen only when we see some aggressive intermediate term selling/ buying happening during the course of the day.
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13.11
Stop hit in Nifty sell below call.
Make an exit.
Loss = 16 points.
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15.50.
Markets moved between value area low and the major MP pivot of 5065 NF.
We lost out on a trade, but there were enough set-ups for the studious profiler, including a profitable shorting opportunity at 5050 levels
In the end it was a neutral extreme day, with a close on one side of the profile, though most of the moves were in the last 30 mins ( monthly window dressing again ?? )
Let's see what the open shows up tomorrow.We will know for sure at the open, whether the move was a real one.
Monday, May 31, 2010
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45 comments:
Good Morning Shai!
Good Morning RM.
good morning shai,hoping for a nice start for this week.
Good Morning Shai,
I have taken short @ 5035 on Friday try to close this trade near 5000.
Is this ok?
shai..good post ths weekend..
i was again comapring taiwanese ths weekend..found Fii inflow similar..will send u data..
ny ways u didnt tell me abt ur fav team fr world cup:)
Shai,
I want to give 1 sugeation Plz post your trade in coment section also.
It will be very helpful to get there.
I hope U understand
hi...shai...gud morning...:-)
shai..one more thing u r expecting support at 4990 Nf or a break of it for a trade..
Trade Alert
Description : Sell Nifty Future
Cost : Below 5030
Sl : 5046
Target : 5005.
Notice the below 5030 level for initiation.
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Manu,
I used to be a big football buff years back, but now don't follow it as a religion.
Just enjoying the game now. No favorites.
hi shai...goodmorning
nice to see ur views in the comment column also
n
5065 taken
Vol abv 5065 not convincing.
Impressive selling tails too!
hi friends :)
5051 emerging as a reference level to the downside.
Strictly speaking risk: reward favors initiating short trades more than long ones.
Not looking at opening a fresh long at these levels...unless things change drastically.
12.30 europe may activate possibly, catalyze ?
Positional longs from 48xx levels can keep stop at 5050 spot levels or near 5000 spot.
Lots of supply showing up at these levels.
hw ftse vl open..can i go short here??
@ Mok,
Possibly.
9 hours now in this range.
@ Mona,
You can short below 5050 with stop at day high + 1.
hi shai,
emailed you a couple of MP trading cutpastes from net, may come handly on class to give to pals here, if complies otherwise.
Thanks Mok.
Will check.
shai ..on ur reply to mona 5050 shrt ws spot na..
No manu it was future.
We have not traded 5050 spot so far.
Hi Shai/Viren,
Thanks for opening a new avenue for education..i.e, MP..its very interesting and thanks for sharing knowledge here..
I can see many known faces here--Hi friends :)
hi assortz, again, again :)
shai..plz specify as ur post abv tht ws on 5050 spot..
wht i remeber i will wait fr 5004-5007 nf fr shrt..high vol. areas positionally:)
what say?
Dear Shai - Can you have a look at Punj Lloyd and inform if we can purchase it at 120 levels - this is good company which has been beaten down from 220 levels - am just curious if i can buy from these levels or i should wait - regards Deepak
Manu,
Generally intra-day levels I will give on NF as I trade straight from the charts. Can't look here and trade there.
I also look at spot charts as it helps clear confusion on discounts/ premium. This I do for short term/ intermediate term.
I will make a habit of mentioning whenever it is spot. Otherwise consider all trades as fut levels of current month.
Stop at 5046 missed by a point.
Strong reaction from Value area low.
Has to go below 5030 again.
late loggin into QT, so my data is incomplete.
seem to yoyo between yesterday VAH & todays VAL ? [if data still computes MP ok with 10.30 am on data]
13.11
Stop hit in Nifty sell below call.
Make an exit.
Loss = 16 points.
--------------
Mok,
Incomplete/ incorrect data always a problem in MP.
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Deepak,
I don't track PunjLloyd.
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thanks shai,
Shai I still hold my Nf shorts of friday
I place sl of 5035 cost to cost
target 5000
Is it ok?
Or I change some?
Musti,
I think you may be out of the trade by now.
Bulls have defended VAL twice around 5018.
If you are still in book around here. If you are positional then keep Sl at 5072.
Dear Shai i hav read in yr previous post that above 5092 --5172 is not a problem, that means can we go long above 5092??sorry for asking in advance, as want to take advantage of short covering as huge discount.
Thanks,
Bizagra,
yes that view still holds.
But I have also spoken about strong supply coming in the 5065 region.
See we are not sustaining 5065 NF.
Yes Shai Thanks.
what a day ! came to rest on VAL and simply bounced off with volume so high ...
bye friends,
bye shai, thanks for everything
Bye Shai.
Bye to all.
Yes Mok, movement btw YVAL and the major MP Pivot.
Dear Shai,
Can we call to-day (31/05/2010) as Normal Variation day - the long-term players trying to make it bullish? Please let me know whether my understanding is correct.
Regards,
Veer
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