The market has opened below value and bear the outer end of the range from yesterday.
5463-5471-5476 are the values for the Nifty.
10448-10465-10483 are the values for the BN.
The 80 % rule says that if we open below value, then 80% of the time we will go to hit value high, if we enter value low and auction above it for a minimum of 31 mins.
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Friday, August 6, 2010
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62 comments:
GM all.
Exit reliance long call.
We will make an entry closer to 980 levels again.
Good Morning Shai & friends.
GM Shai ,Viren & Friends
GM, seniors,
Gm Shai,
I still holds my Shorts
Hope I will come out in profits today
Good Morning Shai and Friends
sir
I am still holding RIL fut bought @ 1027 can be hedge by selling 1020/1000 CE......or should i exit.....?
Shai, pl. have a look at TATA MOTORS future - lot of buying has been done....considering that Friday and still market not feeling exactly bullish....can a short be taken?
Janak,
In tata motors, the activity from yesterday seems to be news oriented.If you short now, you are up against price and momentum which is dangerous.
See if it gets below 864 F, where you can initate some shorts with day high as SL.
By shorting now, you will be up against a moving train.
Can I sell BNF below 10421 ? for a 50 Rs target price of 10365
Sunil,
I'll suggest a hedge at this stage of 1020 call.
Once it gets above 1113, you can close it and average or buy a call.
Alternatively, if it gets to 982, you can try longs again.
Thanx sir
Nifty,
below 10420, 10392 should support.
BN also has a small range of 30 points today.We will get action only after 12.00. I suggest wait, for a clearer trend to emerge.
thnx Shai....how does it look for the market? i somehow feel that in the afternoon...there will be a sell-off....
POWERTRADE...Hopefully RNRL should move up now as it is broke up from falling wedge which is bullish.I bought @ 41.9 last friday...still holding.It ahs to move above 41 to gather little momentum.Shai...any comments on RNRL...whenever ur free.How do read its auctioning.
Janak,
For the sellers to get active today, we need to see 5460 break with volumes. Even then I see only 5444, maybe 5433.
Amrishali,
RNRL has got selling prints near 38.7. It is important that the levels holds and the profile balances.Only then you can get back to 45.
Somebody thinks every 0.05 paisa dip in the front line IT stocks is a huge dip....whereas I think they are on steroids now. The US & EU+Japanese economies are down the tubes, yet these stocks which basically depend on their livelihood is going up like crazy every day.
Since a few days after election results (27/05/2009), TCS has gained from 315 to 883 (180% gain), while Nifty has rallied from 4250 to 5475 (29% gain) and Reliance has gone from 1100 to 1000 (down 10%). oh well....
I am going to Short Wipro at 450 (near 52 week high) with a small SL on a 2 day closing basis.
Amrishali I am just waiting for news in RNRL possibly the ratio of rnrl and rpower would be reworked again..... waiting for the news to come any time on sat and sunday...
Remember RNRL is totally oversold and any bounce would be supported by a news ... thats sure...
A touch of 5476 completes the 80% rule in the Nifty.
Powertrade,
Anil Ambani reserves Sunday for all his major announcements.
So expect it on Sunday, if it has to come.
I had mentioned 5486 yesterday and today also we have to see if we get above it.
Mp wise, VAH and an auction above it re-establishes the fact that buyers are back.
But momentum is seriously missing from the markets.
BN has surprisingly also displayed lethargic tendencies.
Just 40 points of action all morning.
Very unlike the BN.
hi all..
what after 80 % rule
Manu what now?
Let's short below 5465, add below 5459, and get 5444 or 5433. Sl 5477.
Grind and bump higher..that's what it has been all week.
No sellers at all.
Just had a look at AUD/ JPY,it is moving up from 6.00 this morning our time and very slowly, So how can equities diverge? :) .
True shai ..... Lets be hopeful that this sunday turns out to be an eventful day ....Also in BN ... Still some steam left for 10600 levels... The dull movement is preparing for a huge move by next week....
Hello to all
What a day it has been in the markets?
10 point range from 9.20.
How come you guys are not tearing your hair off?? :) .
@Viren
You never know, most of us could be already bald. :)
Rm,
I hope the baldness is not thorugh looking at the markets through 10 point days. :)).
Hii Viren , plz give yr positional view for nifty.
Thanks
At this rate some broking houses will shut shop :).
Time to short broker-dealers then :) .
BN is a short below 10414
BN has been weak all day, below value.
10415-10390-10365.
Bizagra,
Try to add longs near 5444-5433, with sl 5390.
Shai,
I rebought ACC fut this morning at 810, with a stop at 806.Can it see 827.
Yes Rajeev.
But next week only.
I will go to hair dresser on monday eve myself if RNRL will not move up by then...ha haa haaa.
Bn has to close above 10395 for it's uptrend to remain intact.
Dear Shai,
What is the calculation of 10395 in BN- can you pls explain.
regards,
Veer
hello shai good afternoon... how u decided that nifty if below 5465 can touch 5444 and 5434?
Veer, Creation :
It's order flow and classic market profile theory in action.
Nifty stayed up all morning to hit the 80 % rule target. Once it hit, we had to look at the next msg it was conveying.
When we have audio at Vtrender2, I will be able to communicate it better.
Hi Shai,
BN 10415-10390-10365. What these levels? Is it VA levels?
Bose
Chandra,
Those were the targets below 10415.
BN is a short below 10414
August 6, 2010 1:30 PM
Shai,
Classic stuff.
I just know that I have to put more money on your analysis. :) .
I'm fuuly convinced that in these markets we can make serious money with your levels.
i am waiting for vtrender2.:)i feel u should org anise short term workshop in weekend :)i have seen person with least knowledge of tech ansys. are charging whooping 1000 rs.even icici charges 5000 for teaching old tricks
shai pai..whr s d subsriber link...
Creation,
We have been delayed by 2 days. I will put up a note tonight. Launch on Wednesday-11th Aug now.
Yes there are plenty of tricks in this market..good ones to make us good money.
I am sure most of you would be having happier day trading experiences within the month.
Shai,
I picked longs for next week at 5435.
Please start Vtrender2 ASAP. Cannot wait now.
thanx shai..i gained lot of confidence because of you...i personally feel there must be some fees in some form .... is it not possible for u to organise one day workshop ?.then we can interact face to face...
Shai,
Great calls in Nifty and BN.
I made average 22- 25 points in both.
Looking forward to vtrender2.
Creation,
Workshops and interaction will happen.
In vtrender2.
BN is back up, just about.
Will be definitely an interesting week in that index next week.
thanx shai happy weekend :)
Thanks Shai.
Happy weekend to everyone. :)
Shai,
is there any procedure/fees for joining ur new blog?
I enjoy being here - by the way.
Your tips are really useful.
Janak,
This link should explain : http://vtrender.blogspot.com/2010/07/vtrender-2.html.
Shai will make another post tomorrow.
Dear surrogate advertsisers,
We have said "No" to google adsense, we are saying "No" to you too.
Please do not post links to your blogs here.
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