The Nifty future has opened at 5370 levels up above the reference line of 5367.
If this level holds up during the day, look for a continuous move higher.
The Bank Nifty's open at 9716 puts it between the reference levels of 9715 and 9756. Again, buyers are in control as long as 9715 holds.
----
12.01
Nifty at 5365.
These are important support points for the Nifty now.
Buyers have overcome 5344-5355-5367.
It's important that the Nifty stays above these levels now, otherwise we see a print of 5308-5314 next
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12.04
Shai said...
We are not doing great on the global score-card.
So this mini upmove of the morning will be arrested.
July 12, 2010 10:50 AM
----
It is getting a little more muckier globally.
Or you can still call it a reaction to IIP.
Make your choice for the reason. Does not matter as the charts projected weakness.
----
3.36
We have a balanced profile at the EOD.The market has not shown it's hand through the profile, but the close above 5367 and the fact that 5355 was defended, means that we are heading higher.
Bank Nifty has also broken above it's range.
Use the mentioned levels to manage risk.
---
Monday, July 12, 2010
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43 comments:
Good Morning Shai & Viren!
GM RM.
5387 now will be the first ref line for intra weakness.
We are not doing great on the global score-card.
So this mini upmove of the morning will be arrested.
Gm Shai n all, iip data to b announced @ noon today....
GM to all of you!
One way ride from 5387.
5367 on watch.
5367. 69 low
5365 new low.
A clean break bring 5344-5348 again.
These are important support points for the Nifty now.
Buyers have overcome 5344-5355-5367.
It's important that the Nifty stays above these levels now, otherwise we see a print of 5308-5314 next.
Shai said...
We are not doing great on the global score-card.
So this mini upmove of the morning will be arrested.
July 12, 2010 10:50 AM
It is getting a little more muckier globally.
Or you can still call it a reaction to IIP.
Make your choice for the reason. Does not matter as the charts projected weakness.
bn recovering fast
Sir
Pls confirm me today real time VAH : 5399 POC : 5386 and VAL : 5372
Pawan,
It's called today's developing value.
Your figures are right.
ok, but is it right ?
yes Pawan.
They are right
thanx a lot sir
Buy Nifty at 5371, stop 5354, target 5390/ 5411.
BN rocket...
Yes VJ.
yes banks are doing well.SBI and Axis,
10000 possible tomorow Shai ?
Bank Nifty at 9810.
Was definitely the better looking chart as of last night.
Staying above 9715-9756, it's poised for bigger moves.
5387 again!
Reaction off the same level again.
Hold trade with stop at 5364 now.
Can somebody confirm that last high as 5387.25.
Or was that a false tick?
5387.25 happened at 1350hrs 1 minute candle.
Thanks RM.
Yes sir High of Nifty is 5387.25
Just that it was a ref levels from morning also and wanted to be sure it was not a false tick.
I think we are setting ourselves up nicely for more highs this week.
---
yes Vj,
Holding today's lows we will see 10,000 on BN, but am not sure whether it will be tomorrow.
Hi Shai,
BPCL is down by more than 2% but my put option premium is coming down (from 6 to 4.85); is it worth holding or exit. please revert.
thanx,
Pratap
Guggu,
If you have taken a current month option, then your premium is decaying.
I suggest an exit from the option.
I suggest an exit from Nifty longs here at 5377.
We may not cross 5387 today, and no point holding up for a 10 point gain only.
Ok Shai I will exit. But even the expiry is far away & the scrip price is going down. then why the put premium is decreasing instead of increasing. this behavior is not clear to me if you can throw some info...
thanx
Guggu,
What is the option you have bought?
BPCL Put 640 strike
Guggu,
I thought as much.
Basically, you have bought an OTM strike for july, 55 points away with 17 days left.
It is a lottery ticket.
You are betting that BPCL will come to 630 by expiry for your trade to be profitable.
I'm not saying whether it will or not, but probability of you making a profit on your trade is small, very small.
Guggu,
Options are called decaying assets.
The minute you buy an option, it is like holding a melting cube of ice in your hand.
You only use options for insurance, not to make profits.
You can make money on them, provided you are very clear on the direction as well as the time it will take to reach your target.
thanks Shai for such a clear view :)
next time i will try to go with the near strike price for better and quick movement in price.
Right now i do not have much fund to trade in future that is why chose option.
Guggu
do not write stock options if u do not have an exercise option to it after market hrs..
baniyas r sitting to cvr and enjoy prmum..
shai and all
hi
bi all, hope BN hits d magical figure 2morrow
Hi Manu,
---
We have a balanced profile at the EOD.The market has not shown it's hand through the profile, but the close above 5367 and the fact that 5355 was defended, means that we are heading higher.
Bank Nifty has also broken above it's range.
Use the mentioned levels to manage risk.
Bye Shai et al!
@Manu I did not get what do u mean to say? can u plz elaborate it?
thanks,
Pratap
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