Volatility will be there as the tussle between time-frames would continue to define value for the short term.
4923-4964-5004-5027/39 are the levels for the day.
--------------
9.24
Grasim:
1775 now.
Keep Sl at 1759 and exit the trade if it goes below this level.
-----------------
10.10
Above is a price profile chart of the Nifty Future.
Last week we had seen a breakdown till 4931 followed by value creation above 4955 and finally a breakout above 4983 which took the indices above 5065 levels.
The region between 4983 and 5065 is marked by Zone A in the chart.
From Early Monday morning right until the breakdown yesterday afternoon, we auctioned entirely in the zone A which is now represented by zone B in the chart.
This morning again we find ourselves at the base of these two zones.
I have notices the failure of the market to go above yesterday's value low which is at 4993 levels.
The auction which we called for in the afternoon post yesterday, thus restricts itself to these two levels mentioned.
Shorts are therefore at an advantage, as long as prices remain below 4993 and by extension our pivot at 5004.
-----------------
15.27
Hope everyone had a good day.
Value moved lower today and once again we saw the seller acting out at higher levels.
Points to a move downward in the coming sessions,
But everyday is a new day for us profilers and whilst the past is a good reference point, the order-flow of the moment is the most important !
See you later..
Posts
66 comments:
Gm Shai,
Still holding shorts created Yesterday.
Hope to get out in profit.
good morning shai, friends
Good Morning Shai!
Good Morning Musti, Mok & RM.
----
VAL at 4993 providing initial resistance.
5000 4990 4980 on 2-6-2010
oh, ok, yesterday that virgin poc 4990 is covered anyway. sorry
shai..nw whay u had n ur brk fast..like yesterday
i will hav d same..aaloo de prathnae:)
Hi..
Manu,
Aloo de Parathee and lassi is good breakfast.I make it a point to have it whenever I am in delhi.
I had cheese, toast and jam today.
Chart updated.
Shai,yt I understand is we have to remain short below 5004-4993 & can go long above 5004 for 5027-39
Am I correctly interpretainig your inputs.
Musti,
The interpretation of the chart depends on your TF.
I marked 2 levels the bottom and the top of each zones.
Shorts are at advantage now as I said, but will be also be so till the top of the zone will be covered again.
The seller at the top needs to be overcome.
I am holding my shorts till that happens.
KPM Fazal,
The value is yesterday's. We trade always on yesterday's values.
I have noticed that 80 % works best in the first 60-90 minutes of trade. I personally do not bother about it afterwards.
from such a tight range, slowly moving to 5005 ...
along with BNF . both out of the area
Yes holding up well above 5004.
One can try intra longs with stop at 5001/ 4994
entered long
5018 now..really good move.
..and out of the blue.
volume is good.
5027.
Market knows something I don't.
Anybody's got any news??
no shai
will look for
Hi shai....yes, market has suddenly leaped because there was a leak of a report tipping very strong export data from Shanghai....the Shanghai composite has zoomed as has the rest of asia suddenly.
Thanks King.
Can you share the source?
http://www.marketwatch.com/
thanks king
Also, dow futures has turned positive and europe looks like it would get a positive opening...but with the way things have been in the markets so far, really dont know if a bottom is formed or if this is one of those intermediate phases where markets are taking a breather before going down further
would be glad to shai....here it is -
http://www.marketwatch.com/story/shanghai-shares-gain-on-reported-export-surge-2010-06-09
this is a great community everyone...i must admit that im big on news but very poor when it comes to technicals and have been witnessing the events unfold here with shai at the helm and im mighty impressed..consider me a regular here from now on
Thank you Mok and King.
Market-watch May I add... Not just Shanghai..
welcome king :) to the new school
You are welcome King with any market related inputs.
I believe in the "eyes and ears" concept. Together we can see more, hear more..
New "wall of worry" for buyers at 5027/ 30 as in morning post and then 5055-5065 which we have seen so often in the past one month.
thanks shai and mok...ill contribute in whatever way i can to make this wonderful community grow
Dear Shai, i took intrday short @ 5025, can i place sl 5040 acc. to yr levels?
Thanks
Yes Bizagra,
Technically yes.Look for 5004.
But not a very good risk reward trade now.
hey king
wud luk positively towards u for the news part
since
i believe in a stock specific approach
thanks
" two- time frame market "
That big seller just sits there near 5050 and sells !!!
5047 to 5010..
yesterdays and daybefores VAL are substantiating eachother at 5007 about, shai, and the 5019 levels holding
i booked the shorts in both bnf and nf now.
yes. A good trade and good execution.
i am going to collect your theory notes and the marked charts. It will make a good compilation.
4985 now.
both bnf and nf on near todays val
The rate at which we are going, a crash is just around the corner.
Markets just erased the entire Shanghai connection.
Now on it's own..let's see where we close today.
Market Shanghaied. :)
shai ..
explain d crash
C'mon manu..you seen it so many times now.
Check above post at 1.40 pm.
We have spoken about that level the longest time here. :) .
RM,
Is that a verb??
@Shai
Yes.
Verb:Shanghai
Take (someone) against his will for compulsory service, especially on board a ship.
Actually we have been Shanghaied twice today. :)
RM, the great wordist ... :)
wordist with WordWeb at his disposal!
RM,
U serious ?
Ship - Nifty . Someone - Buyer/ seller.
LOL. :) .
shai,
whoz the coolone here, its always RM
:)
looks at his laugh ...
shai..
actually i had pranthas n d morning topping Lassi
so slept..i m a long n stock guy with hedges
writting calls 5200 @ 32 wanted 2 cvr half but Gb stopped me to do..
shai
when Rm says its always "adverb"
@manu
Can't argue with a lawyer. :)
Yes Mok,
The picture speaks of a man with a happy heart.
Manu,
These are amongst the best days to day trade. Mentioned it yesterday...
They are enjoying after a quick take of profit.
our markets are mirroring europe...ftse has become negative as has dow futures now that a report is out on france and germany pressing aggressively to ban short selling....as mentioned before the rise today seems to be a temporary phase before the markets go down further..another interesting point of note is the dow jones index..it has lost almost 14% of its value from its high of 11250 this year...and history indicates that whenever it loses 15%..it sinks much further...this has been happening for the last 65 years
thanks king, this will help in a big way,,, plz go thro the marketprofile classroom link on the rightside,
you will have good initiating materials on MP there.
King,
I don't track the Dow but the ES looks good for 1000 and if there is no panic then 925 which is a good support.
@ Manu,
What is ur definition of a crash?
I think a crash should be 200 points min in Nifty not 60/80 points.
shai
i m looking fr down freezes 10 % cut:)
Good.
So we agree we didn't see a crash today.
totally agree with you on ES shai, i sincerely hope that the eurozone effect is contained and that people see India as a long term story and do not allow a freefall to occur....and thanks for the the link on market profile classroom mok, it is very well written!
allright friends, im out of here... hope you all have a great day!
have a nice day shai,
bye friends
will meet tomorrow
Hope everyone had a good day.
Value moved lower today and once again we saw the seller acting out at higher levels.
Points to a move downward in the coming sessions,
But everyday is a new day for us profilers and whilst the past is a good reference point, the order-flow of the moment is the most important !
See you later..
Bye Shai, have a great day.
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