iCharts Discussions

shashangan · Posted: Thu May 09, 2013 12:30 pm Post subject:

Hold on to your long. Dont book it yet. Scale up your stop to 6056

Thanks
Gautham Shashangan

RAJDESAI1967 · Yellow Belt Joined: 19 Mar 2013 Posts: 518

ok- shashan-have TSL

shashangan · Posted: Thu May 09, 2013 12:33 pm Post subject:

Place an order to exit longs @ 6074-76. You can partially book if you want to take a chance & if you have multiple entries. There can be a consolidation before it makes a fresh move.

If limit doesn't trigger. Exit if it breaks 6063 or scale your stop to 6061.

Thanks
Gautham Shashangan

shashangan · Posted: Thu May 09, 2013 1:11 pm Post subject:

Probably it will break high again & go cross 6100 & close there, but am skeptic to enter. Just watch. You can enter if you want to.

Just below 6060 could be buying area. Upside 6121-26 area could be target. Minimum 6093 possible

I could be wrong

Thanks
Gautham Shashangan

shashangan · Posted: Thu May 09, 2013 1:57 pm Post subject:

Mkt may go up. I am not fully sure. So I have given a tight stop. Only take if you are willing to risk.

Place an order to Buy NF around 6065 with stop 6056. Target open.

Regard,s
Gautham Shashangan

vinay28 · Black Belt Joined: 24 Dec 2010 Posts: 11748

shashangan · Posted: Thu May 09, 2013 2:04 pm Post subject:

As I was posting, it tested 6065 once. But I have given the view of what I think. If you get the price good, if not choice to enter around is the trader's since the range of stop is quite close.

Let's see.

Regards,
Gautham Shashangan

shashangan · Posted: Thu May 09, 2013 3:16 pm Post subject:

Positional Entry NF.

Place an order to buy NF @ 6039-37.

According to me, Mkt should try minimum 6096 & probably 6120 by tomorrow. Also tomorrow being Friday most probably they would want to close it strong.

Regards,
Gautham Shashangan

shashangan · Posted: Fri May 10, 2013 11:48 am Post subject:

Place an order to buy NF @ 6046-44 with stop 6020. Target open. Possible Min Target 6096

Regards,
Gautham Shashangan

shashangan · Posted: Fri May 10, 2013 12:26 pm Post subject:

Though I feel it should go up, the trend is not clear for now.

Kindly Cancel the buy limit for now. Dont want to risk.

Thanks
Gautham Shashangan

dharmeshtr · White Belt Joined: 10 Feb 2011 Posts: 205

Good, Shashangan.

Timely advice to exit.

Thanx,
dtr

shashangan · Posted: Fri May 10, 2013 12:41 pm Post subject:

Thanks Dharmesh,

Well I mentioned to cancel the limit, since it didn't come after I posted my call. If somebody bought they could probably hold with a tight stop, since I am bullish, but the mkt was holding so thought not to keep the limit if not bought.

Regards,
Gautham Shashangan

shashangan · Posted: Sat May 11, 2013 10:55 am Post subject:

Just a caution. Keep very thin Long positions. There is a small possibility for Monday to be the overall top for this trend.

The first level to watch is around 6140 region (NF).

On the lower side, Keep your eyes wide open at 6035 & 6012 level, If both breaks then again it could be signs of danger.

Only if it makes a strong close again on Mon & Tuesday, it will continue further to 6200/6300.

Start clearing your stock portfolio little by little. Lighten your Portfolio. If mkt falls like I had mentioned in my previous charts, most stocks would have fallen 40-50% lower.

Well do your own analysis. I should not be misleading you. My view is based on how I read the mkts. So I can be wrong.

Good luck & Enjoy your weekend
Gautham Shashangan

satishkadam · Yellow Belt Joined: 01 Apr 2010 Posts: 805

shashangan · Posted: Sat May 11, 2013 12:44 pm Post subject:

Thanks for your appreciation Satish.

Regarding Bank Nifty, it has to obviously follow suit, when the whole mkt takes a bearish turn, since it would be the top for the Nifty Index. So when Nifty & Sensex starts falling, all Bank stocks will automatically see selling.

Watch the top for Nifty & sell Bank Nifty as well. If NF extends, the upside possibility for Nifty is another 150-180 points approx whereas the lower side could be 700-800 points approx according to me.

Dont have good free charts to analyze Bank Nifty. Just attaching a chart. See if it helps.

Thanks
Gautham Shashangan