Generally my assumption of a day like yesterday followed by a gap open the next morning, points to a high for the day being made in the first 90 minutes of trading.
5465 will be on watch on Intra basis for signs of resistance.
5367-5379 are today's supports.
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Wednesday, July 14, 2010
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48 comments:
Good Morning Shai & Viren!
Gm Shai & Viren.
Can a shorting oportunity @ 5450 level be created?
Gm Shai n all, BN high 9999.90 =)
goodmorning shai
GM Shai.
Banknifty to me is looking weak from options and OI data.
Last 3 days OI up 35% - most longs (from my best guess) seem to be buy-the-breakout types - like we saw in INFOSYS.
Heavy call writing at 9700/9800/10000 there are less calls at 9900
and Puts are only at 9700.
Vulnerable for a vertical fall in case profit booking or aggressive selling starts.
As usual the disclaimer is - My analysis may be wrong & Market is supreme.
GM all.
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We have risen 200 points straight up and a pull back is due. In the BN it is about 700 points non-stop.
So logic dictates we either stop or pullback.
But, logic goes out of the window when it comes to price? :) .
1089 is again the high in reliance fut, so far.
Infosys looking good.
One can buy here at 2779 with a 15 point stop. target 2820.
As of now Y.day high today's Low @ 5421.75
short BN here at 9996, stop 10030, target 9955/9910.
High risk.
Finally got my magical lvl in BN Shai n booked. Pls give BN lvls Shai...
K GOT IT SHAI
Nifty July OI 3.31cr !!!
make an exit in Infosys long call. 2763 now.
BN on tgt 1 of 9955. Hold.
9951 low
OK.
One lot holders can keep tsl at 9460 now or exit here at 9450.
I'm holding for tgt 2.
***read as 9960 and 9950
Shai I got out of 2 lots at 9960, holding 2 more from 9995. What is the trailing stop now?
Sl of all open lots at cost now.
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Remember always book at tgt 1 , to bring down your risk.Once you booked at tgt 1, the stop of all the remainig becomes your cost price, so it is a risk-free trade.
Thank you Shai.
Once more a profitable day, thanks to you.
above 9966 BN strong Shai?
VJ,
BN is extended on the daily as well as hourly.
Now for a little bit of intra strength to return, it needs to auction abv 10000.
Hi Shai,
I am new to trading and would like to learn about trading using market profiles. Before i read your notes on the same, I wanted to know if its absolutely necessary that i purchase software such as Amibroker or can i purchase it after i learn something about MP?....Secondly, does one also have to learn about other technical factors such as moving averages, fibonacci, etc, etc before jumping into MP or how does it work?...Sorry if i sound out of line but as i mentioned i am a total amateur here
Keshava,
When you enter the market, you are fighting a battle against fund managers and institutional investors who fight on the same turf as you.
These guys are armed with high-speed computers and algorithms, to tackle every move the market gives.
You can still win against these guys provided you have good technical knowledge and/ or the benefit of a trading system which will help figure out these moves.
Don't trade these markets, till you are comfy with any one trading system.
As for me, my preference for Market profile has been after a study and use of a lot of other methods in the market.
exit Bn shorts here at 9474.
Nifty may surprise us to the upside
*** 9974
repeat performance of yesterdays trade Shai?
Vj,
Sellers started drying up.Just thought that we will pocket what we have.
I see a move to 9911, only if we take out 9950 now with volumes.
Shai,
Nifty upside likelyhood remains? Any targets?
yes GK.
Today's day has played out as expected.
Target still 5530/ 5550.
Thanks Shai
Generally my assumption of a day like yesterday followed by a gap open the next morning, points to a high for the day being made in the first 90 minutes of trading.
Posted by Shai at 9:18 AM
Morning assessment.High was I think at 9.05.
Market Profile Rocks ! Always !! :) .
Vtrender Rocks .
I also pocketed a few thousand today. Thanks.
yup...i agree vtrender rocks!!! :D
yes i agree. MP rocks and so do you Shai. Fantastic understanding of the market.
Mp (dhano) always rock..when viru and jai pa ji bcom rockstar
Dear Shai,
can you pls send to me the Market Profile AFL code to my e-mail i.d opgveer@gmail.com after the market hours. Due formation of computer (virus problem) what I had , I have lost. Please send.
Regards,
Veer
9910 n 5379 low. U rock Shai :)
with 10 mins to go, a close below 5367 will be worrisome.
5376 is the low so far.
I think this last move is designed to scare off the weak hands.
We'll know at the open tomorrow.
Dear Shai,
Can we called today's nifty session as 80%Rule, i.e opens above value area and again filling up value area.
sripaul
Srinkr,
Generally an 80 % rule plays out in the first session. Secondly it should penetrate the entire value.
So on the second count, today's session is not valid for the rule, but good obs.
Bye Shai, great calls today!
tc friends
Veer,
You will find the afl in the "market profile classroom" always.
The afl is updated here : http://vtrender.blogspot.com/2010/05/forum.html
Bye all.
See you all later.
Dear Shai,
Thank you,
Regards,
Veer
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