iCharts Discussions

[rameshraja]

With Repo rate hike by RBI and Global Markets are in deep Red along with India's top Corporate Reliance Industries Limited AGM today, many traders are keeping their fingers crossed about the direction of Nifty for 12.06.2008.

I as a trader has been hit by short SLs for the last couple of days in both Nifty and a few stocks , which makes me feel Bears are loosing out control. My sense is Nifty will gap down in the early trades of 12.06.2008 and will come up with vengence . Probably it may test the lower side around 4345 but may not breach the earlier low of 4332.

I am neckingout to go long if there is going to be a sharp downside and my SL for Nifty futures is 4400 on closing basis. Nifty may have a powerful pullback to 4680 to 4720 level and once when it starts happening there will be a hectic short covering in market.

Nifty Range for the Day will be 4600 - 4345.


I have a few stocks which I would like to Swing trade both Long and Short :

Long:

ACC / Bombay Dyeing / Century Textiles / HDIL / Reliance / Sail and SLs for these will be 611 / 686 / 543 / 2184 / 151 on closing basis.

Shorts:

DLF / ICICI / PNB / capital and SLs for these will be 532 / 767 / 477 / 1147 on Closing Basis.


My above view is from Technical analysis and it is very subjective. You please do the analysis at your end and take trades acordingly instead of following my words with faith.


Best Wishes


C T RAMESH RAJA

[mansukh]

thanks a lot for the update sir.. we miss your updates.. today is a critical day for traders... I hope all have a profitable day (Including me ).

Plz continue ur postings, now that sbox is a safer place... i think

[rameshraja]

Dear guys

I had earlier made a typing error in Nifty SL as 4000 on closing basis instead of 4400 and I have edited and corrected that.


C T R

[Arul Zen]

RR sir
thanks for your views as its always guiding us in the dark. once again thankyou.

arul kumar

[hdobhal]

Dear RR sir,

Its so nice to see your post after such a long time. I had sent you a mail, perhaps you did not receive it. Anyway, your very presence is encouraging.

Sir, I request you to read my post and comment. Going by my opinion, I don't think Nifty is going to cross 4700 in a hurry. 4700 is a big resistance and mere short covering can't break it.

Well, views are views sir, may be I am too excited a bear

Harish

[stockscasino]

Time has still not come to ask for 3500 nifty levels. it can surprise just like it did previously at many occassions . nifty once closes below 4448.50 spot for 3 consecutive days then only we can go to 4100/ 3800 / 3500 . intraday jerk has no meaning , check what happened on 10.06.2008. preferred view as of now is to remain long and hedge when intraday support breaks for few nifty points . nifty has a very good chance to create a bottom anytime soon which might be negated also but one has to watch if it really does. GO LONG IN PANIC NOW FOR GOOD GAINS.

[rameshraja]

Dear Stock Casino

Where have I said Nifty will go to 3500 now ? Kindly clarify me. I only said I will go long.


Regards


C T RAMESH RAJA

[vjarora]

Dear RR sir

Nice to see ur post and valuable insights about market.

Cheers and God bless u.

Vikram

[stockscasino]

respected rr sir my msg was not for u . it was in reply to last msg . that boarder is very much bearish on mkts so it was intended to him. sorry for not mentioning his name particularly. regards , stockscasino. ( Anchal Mishra )

[hdobhal]

Dear RR sir,

Hat's off to you sir. Looks like Nifty followed you sir.

Pls keep on writing here...

Thanks
Harish

[sanmen]

RR Sir,

Its really nice to have you back posting your views in the forum..I wish i had read this before the day had started and would had gained handsomely as the mkts performed the way you had predicted..

Please keep writing on regular basis..

rgds

Sandeep

[shanki99]

As Market has come back with a vengeance, its our humble expectation that u also come back and give us ur valuable insights on a daily basis

Happy to see u back here sir

Rgds
Shankar