The markets have opened flat and around the 5435 levels.
Value area rule may come into play today.
5429-5419-5411 are the value areas. Watch to see if market stays above 5429-5435.
The values for the BN are 10343-10292-10240.
Shorts are right only below 10343.
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Tuesday, August 3, 2010
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33 comments:
Good Morning Shai, Viren & friends.
Good Morning Shai & All!
gm everyone.
short below 5419 ?
Gm Shai,
Nf below 5435,
can shorts be initiated or wait?
Musti,
Aggressive shorts here at 5432 will have 5444 for a Sl or day high.
You can also wait for a break of value high at 5429 and short below 5426 for 5411.
Shai,
thnx for my post y'day - covered short for BOI, taken another short for BN at 10431 :-)
Shai,
market undertone doesn't look bullish at all - people are cautious.....what do u say?
Janak,
Nifty is in no man's land--above value high but below high value node of 5435. The struggle and the dilemma it faces is obvious.
BN is still strong with good leadership rotation.Yesterday it was SBI, today it is ICICI.
The banks are holding the index together.
Buy reliance short term positional at 1022, Sl 1005, tgt 1043/ 1074.
"weeklies" are gaining popularity in the US option markets. These are options which will expire in a week.
The presumption being that most option traders hold an option call for less than a week and basically as a directional play.
How cool is that? NSE are you listening?
I general, options are very risky. One month is too little to make any serious money unless u know what u r doing or get lucky. Now WEEKLIES. Next everyone is a day trader. Day traders become second traders. Well, HFTs took the leap directly to millisec traders.
Is anybody here ? Calm before the siesta...
5425-5442 are ref levels.
BN seems to be tiring down.
5424.
Sell for a target of 5411 & 5397.
Sl 5442.
When is vtrender 2 starting ??
RamSreeram,
There are still some glitches in the platform for "live audio".Hope to get it sorted in the next two days.
Dear Shai,
I am holding shorts@5431.50.. what would be correct SL at this level.. seems to be NIFTY taking support at DAY LEMA@ 5429..
Thanks,
Ramesh
Ramsfm,
Don't know about DLEMA, but I saw a bounce from POC.
My Sl is 5442 NF.
Dear Shai, hope we are carrying reliance position for tommorow?
Thanks
Yes Bizagra,
Reliance we are keeping.
Shai, can NF be shorted towards the end?
Exit nifty shorts.
Janak,
The sellers have been kept at bay in the past two sessions.
yesterday, we stayed above value and today bounced off POC.
I do not suggest shorts at this stage.
Shai,
can you confirm value area for today ? I got this -
VAH= 5443.75
POC= 5439.25
VAL= 5434.75
Looks suspicious.
Thanks
thnx for the opinion Shai.....i was thinking of shorting as US market might just sell of today and we may have a gap down tom. with Asia...
Bye Shai & friends!
Dear Shai,
Can you pl. recommend a good broker who can offer good rates? I am from Pondicherry. Just received papers from R K Global - but they don't have an office here so I am little hesitant. At present, using KARVY - EXHORBITANT brokerage....
janak
Try Angel Broking
Golfdude,
5437-5430-5423.
We never really auctioned above 5443, so your suspicions are right.
Janak,
1110 in the futures will be good supports.Don't think it will break that level today.
1123-1110-1117 are the value areas if you are watching.
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Sunil is right about Angel being a good broker. Try Religare also.If you are day trading then you automatically become a national asset for these guys. :) .
Negotiate hard for 1-1.5 paise intra brokerage.
Shai,
I've noticed the size of the value area reduce again today.Does it have any meaning?
Rajeev,
Good obs.
It signifies the absence of the other time frame...or a market driven by the day traders today.
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