The value area rule should come to play today, for all of you 80% rule lovers.
Value area for today :
5217-5194-5174.
Short below 5217 for 5194/ 5174.
Chances are as good as 80 % if we get to 5217 by/ before 10.30. SL 5236.
Happy trading.
---------
9.20
Levels to watch on the upside are 5259-5274.
--------------
9.30
There were quite a few opinions in the market yesterday, that the sudden volumes and the jump in the market from 5173 levels was due to the ongoing positive news coming from the Ambani brothers.
End of day charts show an increase in volumes for counters like RNRL and RIIL.
But I was watching the US futures come to 1084 around the same time and bounce from there.
Can the Ambani brothers influence the US futures too? :).
None of their stocks are listed there. Makes me wonder why?
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Wednesday, June 16, 2010
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63 comments:
Good Morning Shai!
GM RM.
GM everyone.
Nifty played between two trend lines yesterday. See chart in link below. 5250 is crucial to break. Or is this breather time ?
http://safegamble.blogspot.com/2010/06/nifty-june-16.html
Thanks
-- gd
Gm Shai.
Point noted
Other than this I also short Nf @ 5242 with a sl of 5256.
As Nf cant passes 5250 so easily sellers are waiting for there chance.
Musti,
5259 + 1-2 points is a better SL.
Relinfra just spurted on the biggest volume of the month.
32 points in 8 minutes.
Now what's the story there?
SHAI
mukesh ambani interested in buying stake in DADRI power plant
yest. at cnbc aawaj, confirm at ur end,please
Thanks Rochak.
The brothers are in the news all the time. Plenty of deals happening whilst they are reportedly holidaying..
Together this break-up and patch-up has made more money for the empire than Dhirubhai did in his lifetime.
GM SHAI
10.30 n we r nowhere near to 5217, 5259 coming?
SHAI GM,STILL U THINK TO SHORT BELOW 5217 FOR 5190?
VJ, Subrat,
Even though sellers have been present they have not been dominant to take the market down as expected.
The volumes have died down as we speak.
So now 5235-5249 becomes the focus and should we auction here then we can look at higher levels in the afternoon.
I see it as 5217-5235-5249-5259/74.
5235 is emerging a key ref level.
An auction above that means buyers slowly start taking control from the sellers of the morning, who have been weak.
SHAI
1 request, if possible update value area for bn too daily.
Above 5235 now.
Looking for auction here btw 5235-5249 to confirm upmove in the aftrenoon.
VJ,
Yesterday's BN values are 9504-9456-9408.
thanks SHAI
5217.65 new day low
bn too can b shorted Shai? with nf 5236 sl?
Bn was a short around 9540-50.
9475 is a good support now.
Don't see them holding it up this afternoon - Short NF at 5222 - SL = 5252.
Just a gut feel, thats all!
Lots of volatility in that one hour.
..and back to where we were.
5232 nf high in that 1 hour...
I like to see how this ends up today, but the profile so far tells me that we go down tomorrow.
5236 hit
Stepping aside from the intra bias, a look at developing value after the sharp move from 5027 levels, 200 points so far, shows that it has been short covering than actual buying.
Value has not caught up with price.
How much more can the shorts be squeezed?
After Rel infra in morning, RIIL spurted from 980 to 1024, up another 5 % today.
The funny thing is RIL is standing still while it's offsprings are making merry!
RNRL and RCOM up nearly 3 %.
Lots happening under the guise of a family vacation..
All of their companies are buzzing one after the other...
shai what is value area for tomm?
Subrat value areas get finalised at the closing bell.
-------------
With no great trade-setups emerging, I am betting with a friend on the expected close today.
My hat is in the ring for 5135 as closing price in 40 mins.
Anybody else wants to guess?
Sorry didn't want to scare anybody...it is 5235.
5228.
-- gd
Shai I think It should 5220 + - 5 points.
AS many long people wants to book profit after such a along run.
Hope to get below 5200 in the end
Musti,
One figure only. No +/-.
shai i agree with yr closing price 5235 yr reference level
maybe 5250, third time lucky for bulls. :)
RM.
A bull today?
5240 maybe
Yes Shai, a temporary bull!
my guess is 5225.
22 minutes left. At 5232 now.
Don't come at 3.30 and predict!!
good morning shai, friends,
very late entry can have the cake
5232 it would be :)
sorry could not log earlier.
Mok it is afternoon in my place :) .
5232 looks more like it, but my vote is already cast.
shai, with your site, its always nice to start the day with a bright morning in wishes atleast. :)
NF is slipping off both of us ...
:)
its running away with musti :)
5224..8 mins
skm, could not get the nick immediately
:)
There should be a handicap for the late forecasters. :)
RM, thank you,
handicap -10 :)
psst:
i share the cake with you ..
5228 and 3 mins to go.
mok, i had pisreport nick and u sugessted how change. :)
oh no mok! me and my ignorance, I thought that bigger the handicap the more points you have to score to win. :)
yeah skm, recognized the avatar fast though,
nice to see all here ...:)
RM, what can i say ...
5223.50 < .... closer to my guess !!
5223.5.
Goes to nobody. :) .
its a deal between skm and musti :)
congrats on the good guesses ...
:)
Actually closest to skmishra.
Congratulations !!
Bye Friend, i am a good loser (well-trained by markets).
:)
bye shai,
bye friends,
what a day,
resting on yesterday VAH ... finally
A Normal variation day, not conducive for good trade facilitation, but a short taken in the morning and closed at the right time would have been good!!
yeah and a good balanced profile.
See you all later!
tc shai
;)
It works.
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