I am surprised to see the ES trade around 1052 level currently down 20 points from the time of my last post. The weakness seems to have been in the energy sector with the finger pointing done at BP yesterday !!
Back to our markets, the price points which I have mentioned so frequently continue. So we have a seller at the top near 5055-5065 and a buyer below at 4955-4945. Something has got to give!
The value areas for today are 5015-4990-4967 for the Nifty and the bank Nifty they are 9190-9145-9100.
Happy trading.
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10.35
Buyers have managed to push the Nifty up 20 points above Value high at 5035 which is the high of the day so far.
Even though the tape is bullish thus far, I personally expected a bit more from the buying camp.That and the known presence of the seller around the 5050 mark, makes this an extremely tricky market to trade.
Within that we may see 4975-5065 today.
Thursday, June 10, 2010
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29 comments:
Good Morning Shai!
Gm Shai
good morning Shai!
GM all.
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Markets looking good.
good morning, shai,
hi RM, SK, must ..
Shai can a short with yesterday high as sl can be done?
Musti,
We are above value and holding 5027. I don't see a reason to short yet.
But if you must, then 5069 would be your SL
may be a thinning out upward thrust,
we may get a good shorting chance to come by ...
DEar Shai, i buied nifty @ 5022NF, now wht sud b my sl?
Thanks
Can we keep VAH 5013 as SL.
Shai I short @ 5033 Sl-5040
Mok yt U want to say Plz describe cant undersatnd.
Dear Sir,
As per my study of Historical charts , I like to say that when ever market trade between 100 Day and 200 SMA, it will be very volatile.
must,
shai found
"Even though the tape is bullish thus far, I personally expected a bit more from the buying camp.That and the known presence of the seller around the 5050 mark, makes this an extremely tricky market to trade.
Within that we may see 4975-5065 today."
so , if moves to 5050 and seller comes the good shorting chance, i was reflecting on shai post.
:)
Bizagra,
5002 is a better SL if you are long.
Thx mok I will wait for a nf short call from shai.
Thanks Shai.
seems like they are waiting for the IIP numbers for direction. Also, the FTSE open should be interesting - with BP (adr's) down 15% yesterday, on 240 million shares, the action in London trading should be interesting - just my 2 cents worth, but the afternoon session may have some fireworks -
btw - love the work you guys do! great job!
I cut my position @ 5024 got only 10 points & now long again for 5050
Daruma,
Yes. maybe the IIP will be the catalyst..
Hold on to your orders till the news hits.
i dont think iip nos are coming today...didnt see any announcements in tv as well...
ur right sir - The release of the index for April 2010 will be at 11.00 hours on the Friday, 11
June 2010.
Thank you for the clarification Daruma and Subbu.
Back to the message from the market then..
Daruma
hi..
"just my 2 cents worth" what is that?
and thnx fr updates
"my 2 cents worth" is kinda like my humble opinion - you know, may or may not mean anything to anybody and may or may not be right -
seems like we'll meet the seller again near 5055 - wonder if he shows up like yesterday!
interesting to see the Euro above a dollar twenty. Also, the Kiwi, Aussie and Loonie are moving higher. Seems like a risk aversion is taking a lil breather.
hey SHAI
as todays range has been mentioned like 4970-5065 and it has already reached 5065 without breaching 5000, can we not expect it to breach 5000 and touch 4975 as mentioned by 3.30 pm
thanks replying quick
our market is going up primarily because of europe..ftse has turned +ve from being 50 odd points down..dow futures are almost 100 points up....there are absolutely no technicals involved in our market going up...europe and dow futures are having a cascading effect which in turn is spiraling our market higher...the important thing to watch out for at 6:00pm IST is the ECB's latest decision on interest rates which by consensus is supposed to remain unchanged..having said that ECB is known to dissapoint in the past, so its best to wait and watch
Bye Shai.
bye shai, bye friends
what a day...
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