iCharts Discussions

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Shashangan please provide target for Bank Nifty. I have short sold at 11866 yesterday and still holding. As we are below 11853 (61.8% retracement of the rise from 10889 to 13414), I am expecting Bank Nifty spot to test 11394 (80% retracement of the rise from 10889 to 13414). Is this calculation worth of holding the short position.

Best regards,
channasri

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

[quote="shashangan"]I think overall the mkt should go to make one more new low (at least briefly).

Anyway for this position, I have mentioned 5772 could be next target, But let's see the opening tomorrow. Will try & update if I see any cues, If I am free & watching.

Thanks for your appreciation.

Regards,
Gautham Shashangan

new low meaning <5683 or <5770NS?

shashangan · Posted: Tue Jun 18, 2013 9:09 pm Post subject: Re: Target for Bank Nifty

Channasri, you are always welcome to ask your view. But if you dont mind, dont mention your entry when asking my view, so I can give a biased view with no emotional influence. I am giving free analysis, so dont want free tension.

You can tell me after you close your entry in profit if you wish.

Anyway 11777 / 11686 / 11643 / 11595 / 11555 could be immediate targets possible for Bank Nifty.

It can make a new low. But stay watchful from 11755 & below. There is a small possibility of mkt suddenly reversing for one strong run to min 12055-60 region from any of the above supports mentioned. As per the chart I am referring the closing is showing 11820.95.

I could be wrong.

Good luck
Gautham Shashangan

shashangan · Posted: Tue Jun 18, 2013 9:14 pm Post subject:

Yes Vinay, I think near 5700 or a brief new low once could be possible.

For tomorrow even in case NF opens higher & if it doesn't cross 5848 high, there is possibility of 5772 minimum.

Since mkt has fallen for 4 continuous weeks, there is possibilities of correction. So I will change my view if mkt deviates from my picture. Let's see what happens tomorrow till friday.

Thanks
Gautham Shashangan

[quote="vinay28"]

channasri · Green Belt Joined: 01 Aug 2012 Posts: 1029

Shashangan thanks for the advise. Henceforth, I will avoid posting my entry and then asking for advise.

Best regards,
channasri

reachchirag · White Belt Joined: 28 Nov 2012 Posts: 102

ANNA LEVELS FOR CRUDE PLEASE?

shashangan · Posted: Wed Jun 19, 2013 12:12 pm Post subject:

Could be slightly risky.

Place an order to Short NF @ 5810-12 region Stop 5826 or 5845

Target 5695

If mkt wants to go up it may take support around 5795 region, watch if it struggles here to get below. If Nf gets below 5783 the mkt will test 5760 immediately followed by 5695-77 region .

I can be wrong.

Regards,
Gautham Shashangan

shashangan · Posted: Wed Jun 19, 2013 12:49 pm Post subject:

You can pull down your stop to 5826 or to cost if you dont want to lose.

Good luck
Gautham Shashangan

shashangan · Posted: Wed Jun 19, 2013 2:47 pm Post subject:

People who booked profit in the 1st entry can try the same entry again.

Place an order to Short NF @ 5812-14 region Stop 5829

Target 5695

If Nf gets below 5783 the mkt will test 5760 immediately followed by 5695-77 region .

I can be wrong.

Regards,
Gautham Shashangan

shashangan · Posted: Thu Jun 20, 2013 10:01 am Post subject:

Since I have made a unexpected killing, I am taking a risk. If somebody did make huge profits can also enter with me.

Now that all the chaddi, pant of all longs have been ripped & since they wont have any strength or courage to fight, it's time for us shorts to start taking risks.

Can be little risky - Strictly Intra day

Place an order to Buy NF @ 5689-80 with stop 5661. Tgt open - 5715 possible

Buy BN 11460-450

Regards,
Gautham Shashangan

ritapandit25 · Black Belt Joined: 04 May 2013 Posts: 2926

rsnerella · White Belt Joined: 30 Jul 2008 Posts: 153

Excellent one. But missed it to trade.

shashangan · Posted: Thu Jun 20, 2013 5:34 pm Post subject:

Thanks Nerella.

You can always pick one in the coming days & make it.

Regards,
Gautham Shashangan

shashangan · Posted: Thu Jun 20, 2013 5:35 pm Post subject: Re: Nifty View

Thanks Rita.

Regards,
Gautham Shashangan

ritapandit25 · Black Belt Joined: 04 May 2013 Posts: 2926