Looks to be a narrow range morning session where the high value node at 5218 NF should put up some resistance for the Nifty.
On the downside 5174 and value area high at 5182 are initial supports.
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10.51
Nearly 2 hours of trading have passed and the Nifty has traded a narrow 24 points so far. We had called for a high in the first 90 minutes and so far 5209 made around 9.30 is holding out as the high of the day so far.
Another piece of information the market is giving, is the less than average volume so far.This implies that major participants are on the sidelines and the market may move in the afternoon session if they return.
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Tuesday, June 15, 2010
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29 comments:
Good Morning Shai.
"high value node at 5118NF", Should that be 5208?
RM,
GM.
Corrected. Thanks.
Gm Shai.
I think U mention wrong it should be 5218.
Ok I will try a short near 5210-14 range with sl 5222.
As i type msg U already corected.
Ok thx.
Musti,
Yes I did.
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Bank Nifty- Open= high.
shai..
hi..c germans kick..
ur comment at 10:41 suggest a repeat of friday if 5209 is taken out..
m i right in intrepretng it as a "b" again
as when it clears the aftrnoon picture
Manu,
I missed the brazil game, but argentian has got flair and DG helps..
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If markets stay below 5194 now then new highs not possible.
Should break value high now and go to 5165.
hi shai
can we say that its trend day developing.
or neutral day.
markt will be down, if breack 5165 fut. then will be come 5000 level
Dr Saurabh,
It's not a neutral day, going by the auction till now.
Picture will be more clearer in the next 2 sessions.
Next 2 half -hour sessions...
what u thing sahabout markt.
where will be close nifty today
Market men keeping an eye on ES very close to our 1083 levels.
Currently 1085.
Nitin,
Any reason why we will go to 5000 today itself?
5165-5171-5174 are extremely good supports for the Nifty.
sahi
not in today it will tgt to expiry of nifty
hi shai
i want to know when we will decide to enter the trade. because i think now ur 80% rule come in play and what should be the stoploss
Sir,
A view...
Based on y.day night post 1st one hour high was notified and it was not crossed. So around 5195-5200 initiated a short with a s/l of day high 5209 with a target of Nifty support around 5174.
I was done a trade like this, pls tell why you skip this kind of trade today.
One more clue we had today was Bank nifty open high and it was not break and we see new lows. That also show the weakness.
Am i right?
Quick observation - A lil surprised by the resilience of the Indian market today. With the kiwi, aussie, loonie, and euro down, yen up, and yesterdays late sell off in the Spooz, it seems like some risk aversion is setting in. I agree with the experts here, a move below 5165 should open the way for a nice move lower.
Also, would be interesting to see what SHAI feels the expiration will look like.
..
hi shai
next two sessions passed ,any important observations and updates
Sara/ Dr Saurabh,
I was a little tied up to post alerts for the short calls in the morning.
I would encourage you to back yourselves with the levels given and not wait for my alerts.
Thank u sir,
EOD report help in a big way. Its easy for us to understand what you like convey. We also come with some mindset up and levels to face the market..
I want to encourage all of you to post your trades here.
Please trade on the info available.I will also put out alerts but do not stop trading just because I do not post.Please.
If there is a big change in the outlook, I will update and correct a previous view.
Markets sustaining above 5117 and value creation happening here.
Looks to be a double distribution day.
5208 should not break on the downside now.
From the low of 5173 this is a big move and may have a bit more in it.
Our post market analysis from yesterday went wrong with this move which was on good volumes.
When we trade intra along with the levels-- only the orderflow is important, nothing else.
The past is a place for reference, not for residence.
Trade in the "Now".
the important thing here is that whatever the so called "technicals" may be...our markets are strong fundamentally...strong iip numbers, monsoons on time to ease food inflation, and a host of positive factors are seeing our markets move up beautifully. Also, technicals dont matter to FII's...if they want to take the market down, they will do it regardless and vice versa. As shai has stated in his post above, it is important to concentrate on the 'now' for intraday trades...no amount of analysis or soul searching the previous day's data will help...some bad news from the west overnight can bring our markets down the next day
Bye Shai.
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