iCharts Discussions

[veerappan]

hi,
markets r holded by [buy] only bulls... this was the image created by operators and fiis.... retailors r every day sellers... now its a turn of DII boys... so market is ready for the correction ... for this week as per my view 4731-4712 will be the biggest support... this is the for the week... for monday it shd take the support 4918-4914 range... if it closes below means we may c further 200-250 pts correction nifty further levels...intra week its possibe to come 4676-4646 range also... let us c....


regards
chennai boy
veeru [each smile is -130 pts in nifty for this week]

[sethu45]

Hi,

Let us hope to c a correction in the market as mentioned by you. Atleast a minimum 200 points on Monday will pave way for good and healthy market.

[sandew]

Derivative option chain is not suggesting break below 4800 as of now. On upside call writing is at 5200 range. Top does seem to be capped and so does the bottom bottled.
Also there is nothing on the TA charts which suggest a big sell off.
The expected sell off is an extension is what is happening with DOW - which itself is oversold on daily charts (but overbought on weekly still) ; so DOW can have a pop up.
BOth FII and DII are putting in real money.
Be cautious.
Want to play short - sell 5000 calls (aggressive ) ot 5200 calls (defensive) or 4800 Puts (aggressive) or 4700 puts(defensive).
There are other combo strategies too.
I would like to be corrected for which request Veeru to indicate what are his chart readings to suggest a masive slide or is it just a gut-feel?
regards
SanDew