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My Nifty View and Trades |
Sun08
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Joined: 21 Aug 2017
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Post: #31  Posted: Thu May 17, 2018 9:46 am Post subject: |
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Nifty is now at a dicey stage. If it's going to be bullish for rest of May, it must sustain above about 10600 spot. Not that it has to go there. If not, a slide may begin which can accelerate fast over next few months. First hint may be a close below 10614 spot.
Last edited by Sun08 on Fri May 18, 2018 2:57 pm; edited 1 time in total |
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Sun08
White Belt
Joined: 21 Aug 2017
Posts: 478
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| Post: #32 Posted: Fri May 18, 2018 2:56 pm Post subject: |
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| Sun08 wrote: | | Nifty is now at a dicey stage. If it's going to be bullish for rest of May, it must sustain above about 10600 spot. Not that it has to go there. If not, a slide may begin which can accelerate fast over next few months. First hint may be a close below 10614 spot. |
low of 10601.85. close below 10614 can be worrisome. |
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Sun08
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| Post: #33 Posted: Sat May 19, 2018 7:38 pm Post subject: |
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Caution msg for those who are bearish.
Though it closed below 10614, The zone of 10470-10520 is crucial. The lower level can be an impulsive, momentum play only. If it goes there and reverses sharply then there is hope for bulls. First hint will be a close above 10619 and then 10694. If it sustains thereafter and goes up, even as much as 11300 is likely earliest by June. If it fails to do so, then 10390/10200/ 9825/9600 can come. Better to trade as individual level get broken.
Personally, I would go long if in morning first hour on Monday it tanks and then will decide by EOD.
Standard disclaimer applies. |
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Sun08
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| Post: #34 Posted: Mon May 21, 2018 11:23 am Post subject: |
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| Sun08 wrote: | | …...Personally, I would go long if in morning first hour on Monday it tanks and then will decide by EOD. |
I didn't go long as it didn't tank as I expected and didn't go short either as it hasn't gone up for a good short. Holding on to my earlier longs, in loss, as about 10550 is a good support. |
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Sun08
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| Post: #35 Posted: Mon May 21, 2018 8:55 pm Post subject: |
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| Attaching nifty daily and monthly charts. Nifty has never retraced to the lower TL since 2008. Will it do this time? |
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Sun08
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Joined: 21 Aug 2017
Posts: 478
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| Post: #36 Posted: Tue May 22, 2018 8:23 am Post subject: |
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| Sun08 wrote: | | …….The zone of 10470-10520 is crucial. The lower level can be an impulsive, momentum play only. If it goes there and reverses sharply then there is hope for bulls. First hint will be a close above 10619 and then 10694. If it sustains thereafter and goes up, even as much as 11300 is likely earliest by June. If it fails to do so, then 10390/10200/ 9825/9600 can come. Better to trade as individual level get broken.….... |
yesterday it came within the zone of 10470-10520. Now fingers crossed. |
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Sun08
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| Post: #37 Posted: Thu May 24, 2018 7:53 pm Post subject: |
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| Sun08 wrote: | | Sun08 wrote: | | …….The zone of 10470-10520 is crucial. The lower level can be an impulsive, momentum play only. If it goes there and reverses sharply then there is hope for bulls. First hint will be a close above 10619 and then 10694. If it sustains thereafter and goes up, even as much as 11300 is likely earliest by June. If it fails to do so, then 10390/10200/ 9825/9600 can come. Better to trade as individual level get broken.….... |
yesterday it came within the zone of 10470-10520. Now fingers crossed. |
it reversed from much lower level (below 50 dma) than expected. But unless it closes above 10619, bulls have no hope for higher levels. |
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Sun08
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| Post: #38 Posted: Mon May 28, 2018 6:59 pm Post subject: |
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| crossed 10700 but didn't close above 10694. so I bought small qty of puts. not bearish though and hence I may go long on dip, if I get it with SL close below 10614. |
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Sun08
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Joined: 21 Aug 2017
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| Post: #39 Posted: Thu May 31, 2018 8:34 pm Post subject: |
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| Sun08 wrote: | | crossed 10700 but didn't close above 10694. so I bought small qty of puts. not bearish though and hence I may go long on dip, if I get it with SL close below 10614. |
went long and made some money, not much. It closed above 10694 but I am not convinced as it went up due massive rise in banknifty which in turn went up only because of SEBI deadline on FII investment in HDFC bank of 31/5. At least that's what I believe.
So, either continuation of rally next week, if I am wrong OR a big bloody bull trap. One thing I noticed today was even though nifty went up by 100 in afternoon, OTM puts didn't make lower low. I am having june and july puts. Will decide SL most probably tmrw. |
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Sun08
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| Post: #40 Posted: Wed Jun 06, 2018 11:01 am Post subject: |
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| Sun08 wrote: | | …….So, either continuation of rally next week, if I am wrong OR a big bloody bull trap. One thing I noticed today was even though nifty went up by 100 in afternoon, OTM puts didn't make lower low. I am having june and july puts. Will decide SL most probably tmrw. |
so it WAS a bull trap. sold my puts early in morning today and bought again at lower level near nifty high today. will buy more between 10660-690 if it goes there. |
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Sun08
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| Post: #41 Posted: Sat Jun 09, 2018 11:33 am Post subject: |
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| Nifty looks bullish tks to RIL but BN is bearish. So I don't trust this rally. Let it close above 10818 then I will decide. Till then puts, though limited, continue. |
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Niftyman
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Joined: 22 Mar 2015
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| Post: #42 Posted: Sat Jun 09, 2018 8:15 pm Post subject: |
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| Sun08 wrote: | | Nifty looks bullish tks to RIL but BN is bearish. So I don't trust this rally. Let it close above 10818 then I will decide. Till then puts, though limited, continue. |
Though I dont want to comment on your post. Lekin kya karoon, cant control it. As far as 10818 is concerned, you can see it in next 1-2 days, in my IMO.
and not only 10818 but.... got my point.  |
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Niftyman
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| Post: #43 Posted: Mon Jun 11, 2018 10:20 am Post subject: |
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| Niftyman wrote: | | Sun08 wrote: | | Nifty looks bullish tks to RIL but BN is bearish. So I don't trust this rally. Let it close above 10818 then I will decide. Till then puts, though limited, continue. |
Though I dont want to comment on your post. Lekin kya karoon, cant control it. As far as 10818 is concerned, you can see it in next 1-2 days, in my IMO.
and not only 10818 but.... got my point. |
and Nifty crosses 10818, within 1st hour of trading 
Sun bro, now what next you are planning |
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Sun08
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Joined: 21 Aug 2017
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| Post: #44 Posted: Mon Jun 11, 2018 1:36 pm Post subject: |
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| Niftyman wrote: | ……..and Nifty crosses 10818, within 1st hour of trading
Sun bro, now what next you are planning |
I will decide near EOD after checking how it's closing. There is another level for close i.e. 10835. |
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Sun08
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Joined: 21 Aug 2017
Posts: 478
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| Post: #45 Posted: Mon Jun 11, 2018 6:46 pm Post subject: |
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| Sun08 wrote: | | Niftyman wrote: | ……..and Nifty crosses 10818, within 1st hour of trading
Sun bro, now what next you are planning |
I will decide near EOD after checking how it's closing. There is another level for close i.e. 10835. |
bought a few more puts. |
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