Here is the updated version of the chart I posted at 11.00 am this morning.
In an earlier post I had mentioned that buyers would step in to defend the levels around 4954-4967.
Notice the rotation taking place here. The Low so far is 4958.
The afternoon action has been fast and furious, but we were prepared from morning for this move to come in the afternoon session. Though I will be honest to admit that I personally didn't capitalise on it as much as expected.
Looking ahead, Buyers need to hold 4954 levels. Also there is a good opportunity of getting up to short the market again at 4990-5004 levels if we get there again.
Let price and volume dictate that.
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14.35
Some more levels on the downside are 4883 and 4848.
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Posts
30 comments:
test
My Broker is mentioning a short in Reliance on the BSE which gave a price of 800 odd and a sensex level of 16300 odd.
Shades of what happened on the NYSE a few days back??
or
Basket Trading?
yes shai, too fast, but stil managed to capture, with a safe level exit, thought may be more in it. NS seem to be losing the 3 days gain to 4 days back into that profile ...
shai, a rumour, that some broker sold RIL instead of ICICI at 840. plz check
http://www.tradeinniftyonly.blogspot.com/
above comments ... plz check if needed only ...
@ Mok,
How can he sell ICICI for reliance?
What abt bid-ask process? For every buyer there has to be a seller..
Seems strange...maybe a false tick.Do u knw the qty involved?
Dear Shai u gav more lower levels, taht means can we carry shorts?
Thanks
Mok/shai..
Viren told me that US trading rparameter is not
available n india yet..fat fingure type
the matter s pending with sebi
yes Bizgara,
Short term. Trend is down below our beloved 5066 and 5004 NF.
Some nifty spot levels were also given yesterday for the short term trader.
qty 5 lacs, all from the comments ..shai ... looks funny, would have made an impact on MP, will know evening after real story comes out ?
dear shai what lower target 4 tomm as 4954 not hold?
They r making Fool, I don't believe
5 lacs is huge.
Miss Viren's QT. He would have known immediately if it was a basket sell.
Subrat,
4883/ 4848
Today is "Double distribution trend day"
Reason :- Morning from 5045 to 5025 is first bell curve. Then from 5020 to 4990 is Single print. From 1pm market in the range of 4980 to 4940. So this area is second bell curve.
I don't have the chart, based on price move i am saying this..
Am i right sir?
Mok,
BN at 8993 against out 8976 second target.
Never crossed 9135 again.Would have been a good hold. Never mind.
Sara,
Spot on.
Keep it up.
shai is it wise to carry short tomm if close above 4954?
just now i was telling a friend, shai, when it was at 9010 ... from 9164 ..
btw,
my terminal show Low of RIL 1004 !
GOK what it is all about.
Subrat,
If you are looking for an overnight trade, don't carry too much.More short term nature, it is safe with Sl above 5004.
For me 4954 is a ref level, and a close below that is advantage sellers.
@ Mok,
On BSE ?
thx shai great observation,today i miss yr call but do in nifty.thx a lot
shai on NSE
The trade was done on the BSE and the sensex low is 16318 !
Mok
Its happened in BSE. Please check bse website intra day chart. Its not show any trade at 840.55. So its a freak trade.
ok. so it did happen,
and in that case market will recover from false dip ?
i meant error sale dip
Hope everyone had a good trading day..
Catch you all later.
Bye.
bye shai, take care,
bye friends
thanks for all the info on data .
hi
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