Good Morning All.
We are arriving at trading this morning with a fair bit of uncertainty whether the markets would be open this morning or not.
The uncertainty would mean a drop in trading volumes during the day. Please trade in liquid counters only.
The US markets are closed today, so it will be interesting to see how the market responds today.
The markets had taken support at 5225 last week.I will be watching the 5216-5225 zone for weakness.5262-5272 is resistance on the move up.
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Monday, July 5, 2010
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52 comments:
Shai & all..Gm
DAX..DAX..DAX..footoballo
Gm Shai,
Having a bandh day can we consider a open (long) day
in Nf?
With europe suports again towards 5272?
GM Shai,
Seems like a nothing day so far. Might get some clues from DAX after 12:30.
BTW - DAX should gap up 100+ points on that 4-0 thrashing of Argentina :)
Girish,
Manu is a big supporter, maybe an investor over there too ! He'll ensure the 100 pt gap up :) .
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Typo in my prev comment : Want to see Holland-Germany.
Anybody in RNRL here.
shai:)
only Viren invests abroad..
So Manu the ball is your court now :)
Shai,
I just checked your comment on the previous post. You are thinking of 9600 revisit of BN because 9600-9660 range is a low volume area?
Girish,
Yes the outside range is 9580-9020.
There is a seller at 9439 and a buyer at 9311.
The market has moved between these two levels, just like the Nifty.
Let's take baby steps and see what we get..
@GD
i luv Dax team..team wrk..all eu in d line up makes me worry..holland/Spain..again a gud team wrk..
GM All.
Good Morning all!
Manu,
It's a pity!. Two from south america nd two from EU would have been good.
GM RM,
Caught ur comment from the weekend. Wish I could have an all week week-end :) .
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Manu,
Ur the Big man! I remember ur million from 1 stock ! :D .
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Shai,
I'm in RNRL, but a freeboarder, thanks to some generosity in 05.
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GM Viren, plz give yr positional views about nifty.
Thanks
Bizagra,
GM.
I have no positions at the moment.I will enter a short on the break of 5185/96 NF for a tgt of 5028 NF or 5045 NS. Positional.
Thanks Viren
Shai,
RNRL swap ratio with RPOWER is decided as 1:4. So price cannot be above 45 given RPOWER is trading around 178-183 range
I just pity someone who got into it because of a big run up before June series.
I try to avoid trading in any such news based stocks - esp the ADAG pack - RNRL/RPOWER/RELINFRA where they all seem to in the same space.
Looks like lot of ppl are stuck with these stocks at high prices from 2007-2008
Viren
yes! but divided into four(four frnds)..all thnx 2 u..one of my frnd sitting n delhi(rich guy) makes us also to take big steps but hedged..
i personally made mess in bajaj hindustan..
but learnt a lot
Viren..
rnrl take my nerves..i made me loss a huge in jan 08 as my broker forgot to pledge my securities fr margin..bought and got squared off..loss a milion..case pending in court
For the EW lovers, here's what Robert Prechter is
preaching : http://www.cnbc.com/id/38088826.
"Robert Prechter ...we have entered a market decline of staggering proportions — perhaps the biggest of the last 300 years"
Interesting?
GA Shai n all, 5272 n 9439 coming up...
From what I remember, Prechter and his EWI have always held a bearish view.
I remember some comment of his back in November to short the market then.
GA VJ,
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Break of 5250 would mean now, that the top is in.
OT...my 2 cents on WC...
I still havent gotten over Ghana's loss. And I cannot stand any of the South American teams. Very overrated. They have weak defense and too many "individual" forwards. Germany seems the best. And Netherlands are just plain lucky to have gotten till here. I am supporting Germany from now.
GD
welcome 2 d club f Dax
Golfdude,
Football is about flair, nobody has it like the south americans. I like their game. Also 2 of the biggest names of the game come from there.
It's always been eur v/s s.a.
I would have liked both arg and brazil in the semis v/s holl and ger.
Break of 5238 now sets this one up for 5225, then 5216.
Shai,
I have 2 positional short ideas - based on my own analysis which can be totally wrong!
ITC & INFOSYSTCH
both are "defensive plays" so I am playing them defensively too :) with hedges and they will be profitable only if a decent correction comes in those stocks.
I have posted the charts here:
http://amateurtrader77.blogspot.com/2010/07/two-positional-short-ideas.html
PS: I am not one of those blog advertisers. I have more than a decent paying IT job in Bangalore & I just trade to learn. The only way to learn as Livermore says is to "experiment with your ideas by putting real money in the market"
Girish,
Infy looks like a good short around here.But I doubt whether it can break 2700. What's your TF?
Girish,
Good charts. Quotetracker I presume.
I took the liberty of shorting Infy at 2749 F with stop at 2761.Tgt 2710.
hello shai shall i short infosys here?
Yes creation,
I have taken a short at 2747 in cash, with a stop at 2762.
Thanks to Girish for pointing it out.
I see Viren has also jumped in. :) .
Thanks for ur analysis Shai.
My time frame is July expiry and if it cracks below 2700, I might rollover.
I have based my analysis on the assumption that we have made an intermediate top at 5400 levels and we will now sync with US markets at some point - probably this series. If that assumption fails I will get out if it goes above 2820-2840.
Yes Viren,
That's QT & I just love it!
Lets hope we all make money :)
Girish,
Lots of sellers in that 2800-2820 region.
Below 2700 you will get your next 50 points in no time.
Our Nifty which has persistently refused to take into account global cues from the start of june ( No thanks to the Ambani brothers) has today refused to move because the US markets are shut?
Mighty selfish act !
We will not go down with you, but we will ride it up with you. :) .
hello shai and viren i am also with u . me in short postion in infosys fut @2748
Axis finally moving down
Shai,
U sent axis to me U didn't post here.
Low of RNRL is 45, high of Rpower is 180.
1: 4 justified.
Now ADAG leaves it to us ! Thank you. :)] .
Hi All...my first post here...NTPC looks interesting to me...looks like it wants to break out of the 3 month trend line...although with no great volumes..
Any views please?
Bharani,
Welcome aboard !
NTPC looks good for an upside tomorrow, but will encounter some selling at 202-204.
If it can take that out, then it moves higher.
Random movement in the market.
The best trade has been to write the 5400 call and the 5200 put.
Am I glad, I came out of my shorts on thursday? :).
I've seen this market now do 50 points in 3 days.
Something big is coming up.
Let's be on out toes tomorrow especially afternoon.
Tc n bye friends
Bye friends!
Thanks Shai & Viren!
Bye everyone. Hope to see some real action tomorrow otherwise writing 5400CE/5200PE might be the way to go this month.
Hmm.
Viren is right. 5230-5285 is where we have done 3 sessions.
Coil will have to spring.
See you all later..
Hi Shai..Thanks for your view..do we consider volume as major factor when deciding position?
Dear Shai,
Thanks.The surprising part of today's trading was that there was selling evidence in Total volume of just 48000 Cr.FII sold 220 Cr. in cash and 370 Cr. in Index Fut.Addition of avg.3 lac O.I.in 53 to 5600 CE.Contraction in trading range is also difficult to gauge.Due to Global weakness probability on the down side and in that circumstances the tired Bulls will be tested.So only due to these factors now a days I am not giving mush importance to 5175-85,still it is all well so one can console,but I would like to see it in real terms if it really slipped there.The action-reaction-the frustration-the anger.Let us see,tomorrow,Good Night.
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