We have a Game On today between confident buyers and aggressive sellers.
Hopefully they resolve the range of the past three weeks once and for all.
The value areas for Nifty are 5339-5327-5314 and for the Bank Nifty they are 9631-9610-9581.
Value high at 5339 and the seller at 5344 if overcome can mean an auction to the 5367 zone, where a slow down can happen to decide further moves.
----------------
9.26
I've taken a long at 5345 with a stop at 5327 for 5367.
July 9, 2010 9:23 AM
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Bank Nifty is also a buy above balue at 9632 for a tgt of 9680. Sl 9600
July 9, 2010 9:25 AM
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11.25
Nifty at 5366. Cover 50 % and rest sl at cost.
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11.34
Book 50 % profits in BN here at 9665.
Hold bal at cost.
July 9, 2010 11:33 AM
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11.43
My reasons for exit in the Bank Nifty as well before we hit our target was the fact that we hit 5367 on the Nifty.
Over the years, I've learn't not to give back to the market hard-earned gains, especially at pivotal points.
Profits are always better in the hand than on the screen !
Looking further, if our cost holds, we should get to 5382 on the Nifty and 9715 on the Bank nifty.
I've received emails from readers that often they trade in single lots of Nifty. I would suggest 2 or 3 lots of Mini Nifty in such cases rather than one lot of Nifty.
It is also important that when a trade moves in your direction, you let it run. The second run is risk-free.
Friday, July 9, 2010
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76 comments:
Gm Shai & Viren
Still holding 5344 can Take a short here with sl 5368?
Musti,
I've taken a long at 5345 with a stop at 5327 for 5367.
Bank Nifty is also a buy above balue at 9632 for a tgt of 9680. Sl 9600
Thx Shai for timly advice.
I take a short call yesterday @ closing for 5272
but today morning scenerio changes.
After your msg I revert my position from long to short.
Atleast I can cover my loss in this trade I hope so.
Shai,
RELIANCE is lagging the market. It never happens that market makes a new high and BIG BRO misses out.
Do you think RELIANCE long @1067 with 1057 stop loss is a decent trade? If RELIANCE goes below 1058 its a definite short - so would it qualify for your A.I.A.T?
Musti,
My view is intra and I try not to bring a bias from the next day.
Only the order flow from the open decides my bias.
Girish,
I think 1044 is the line in the sand for reliance, even from an AIAT perspective.
You mention Reliance lagging--look at Infosys.
After overcoming the seller at 2820, it is a 2875 now. Again a good AIAT candidate.
On another note, Infosys reports on the 13th.
Maybe it is a guide to what happens with the results season.
Sell on News for infosys as well as the larger market for the results season??
True Shai.
I got my INFY short closed at 2777 with 26 point loss but never had the courage to go long. It was definite AIAT candiate.
A good friend of mine 'Golfdude' says stocks that are going up and making a new 52-wk high are up for a good reason. That's what I missed in INFOSYS.
I don't know what's fundamentally wrong with RELIANCE - I am going long at 1067 with 1057 as stop loss and will trade short only below 1044 as you said.
Hi Viren,
GM to all. AIAT is ready for disclose? Your trades based on AIAT?
Bose
GM Shai....GM All,
Friday Member....
My Paper Trade
Shai...Have a look on BPCL charts.Neg Div on all Time frames...Weekly/Daily.
SELL BPCL @ 704 SL=716 T1=665 T2=630
23% & 40% Retracement of last leg from 500-700.
Good only for F&O Traders...I'm not trading in F&O but as I get the trade...I feel like throw light on it.
Thanks
Thanks...
Good Morning Shai, Viren & all blogmates!
Chandra,
Not yet. Viren has put forth some points to consider.
---
Amirishali,
Good input on BPCL.Looks definitely shortable.
Gm Rm.
Hi Shai,
Thanks for response.
U & Viren doing good work & supporting new traders for learning which much better than spoon feeding. Keep it up
Bose
Dear Shai/ Viren,
I am a new trader how can i understand your technical discussion/terminology.
thanks,
Pratap
Pratap,
Pls refer to the 'market profile classroom' in forum to your right.
You can ask more questions here, if not clear.
Nifty at 5366. Cover 50 % and rest sl at cost.
Book 50 % profits in BN here at 9665.
Hold bal at cost.
Hi Amirshali,
BPCL seems to be maintaining. Do you still suggest shorting..?
In similar space, can you throw light on HPCL. This too seems to be having a one-way ticket.
Thanks
Finally Grasim breaking out.
Thought this will stay with me for ever. Vols increasing.
thanx! I did not get AIAT? also i bought BPCL put @6, its hold?
Wish I had booked some more lots at 5366. :(( .
High of the day so far- 5367.5
Does the figure sound familiar?
:) .
slipping into some shorts here at 5350 with an SL of 5381.
Guggu,
I will put up a post on AIAT when we are ready.
Manage your position based on the Sl which was provided.
Shai,
I took two lots and closed both at 5366.
5345-5366= 21 points.
Thank you very much.
And yes I remember 5367, just like your 5225, 5271 and 5320.
All gr8 nos.
Hi Shai,
Is Nifty shorting ok? Or Wait for dips to re-enter long?
Bose
shai,
My bad. 5367 June 21 futures high ?
Hi Viren/Shai,
By using VIX of yesterday & to-days range on higher side of NF comes 5367 & Spot 5355.
Is my calculation correct?
Bose
Chandra,
I have still some longs with 5344 as stop.We reached 5346 from 5367.
Shorts get leverage only below 5338.
Nah, Golfdude that's 5378.
I mentioned 5367 so many times in the past three weeks.It's a high value node.
Only a close above it, turns the trend up for the bulls.
Hit the google search bar on your right with "5367", you will get all the prev references.
TSl at 5344 taken in Nifty.
---
5338 is value high for Nifty. A break below that puts sellers in command for the day.
GA Shai, was waiting for ur last post eagerly now waiting for BN to move below 9630.
Buyers have fought hard to take 5344.
They will defend 5338-5344.Don't rush with your trades.
GA all.
The next two hours and the first hour on Monday are critical for this market.
Buyers are moving into a known seller zone, classic action.
Ga shai/viren/all
viru pa ji explain this comprisvly
In Market profile the close should be confirmed by an open for continuation.
Hence whatever happens today now, should be confirmed on manday open.
I was of course refering to a close at / above or below 5367.
Bank nifty has moved up
US futures at 1068 now.
They run into a wall again at 1077-1083. Will have to see how they negotiate that.
viren..
hw u trade in Es ..can i hav a account..hw remittanve is done..
@manu
Just wait for another fortnight, you can trade on NSE!
:)
Shai,
I short 2 lot @ EOD yesterday,book loss today morning & after Nf retrace back I again short it @ same level
Now yt to do?
Keep this short or again book out of it?
Plz sugest
That's breaking news RM. Thanks.
Any ideas on lot size and margin?
Musti,
Purely on intra action, the momentum is with buyers.It's tough to hold over weekends as news flow has been positive the last few weeks.
I'll say if we close above 5368 today, then book out and conserve your capital for Monday.
Manu,
Come on gmail.
@Shai
There was a news release in March about SNP futures being trade on NSE. Since then i have read in newspapers that the trading will commence in second half of July but nothing more has come out.
RM.. its Nifty trade in CME from 19th July 2010
http://www.cmegroup.com/trading/equity-index/emini-sp-cnx-nifty50-futures.html
I have to maintain BPCL SL(714) in spot or in future, that too on closing basis or trailing.
plz confirm.
thnx,
Pratap
Sara,
Even I heard abt the news of the us futures.So it's happening I think on NSE.
I have to maintain BPCL SL(714) in spot or in future, that too on closing basis or trailing.
plz confirm.
thnx,
Pratap
I have to maintain BPCL SL(714) in spot or in future, that too on closing basis or trailing.
plz confirm.
thnx,
Pratap
Yes.. SHAI.. both sign for cross listing, But still NSE not give any update in this reg.
http://nseindia.com/content/press/PR_NSE_CME.pdf
Lots of auction btw 5344-5367 today.
It is a stalemate.
5367 remains the high of the day.
I have to maintain BPCL SL(714) in spot or in future, that too on closing basis or trailing.
plz confirm.
thnx,
Pratap
I have to maintain BPCL SL(714) in spot or in future, that too on closing basis or trailing.
plz confirm.
thnx,
Pratap
yet another day of 40 pts range on nf, hope monday wil b a day of 80-100 pts range
I have to maintain BPCL SL(714) in spot or in future, that too on closing basis or trailing.
plz confirm.
thnx,
Pratap
shai
look over HCL tech..
buyers erasing...positional
Guggu,
Amirishali said...
GM Shai....GM All,
Friday Member....
My Paper Trade
Shai...Have a look on BPCL charts.Neg Div on all Time frames...Weekly/Daily.
SELL BPCL @ 704 SL=716 T1=665 T2=630
23% & 40% Retracement of last leg from 500-700.
Good only for F&O Traders...I'm not trading in F&O but as I get the trade...I feel like throw light on it.
Thanks
Thanks...
July 9, 2010 9:58 AM
716 was a stop suggested.
Manu,
It can go above 367 to 375 easily.
Yes but 367 has got a seller who can take it to 359
@sara
Yes, the dates are out for trading of nifty futures on CME. I guess NSE is waiting for SEBI clearance & guidelines.
Yes sir... Some suggestion also put for round the clock trade. Still SEBI not give any clearance. Hope this month end SEBI report will revels something
Guggu,
Hope you are comfortable with your trade.
An eventful day today.
I think the profile gives buyers the ammunition to take out 5367 next week.
Bye Shai & Viren, have a great weekend!
Sorry Guggu...as I was out.BPCL :SL:716 in Fut on closing basis as I mentioned it is for positional trade.
Again I'm saying I don't trade in F&O.
Bye Everybody....Thanks Shai & Viren of course.
5344 given up.
5367 maintained.
Next week it continues.
see you all later.
Have a great weekend.
Only traded in BPCL..still holding my put. yes seems to be comfortable.
thanx to both of you!
Regds,
Pratap
have a great weekend all.
5354 adjusted cl nf n bn 9686.6. Enjoi d final 2 matches of 2010 WC
BEST ANALYSIS OF MARKET FOR INTRADAY TRADE,AFTER GO THROUGH MANY WEBSITE & BLOOGS
THANKS
ROHIT
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