iCharts Discussions

shashangan · Posted: Thu Nov 22, 2012 11:34 am Post subject:

Thanks Chetan.

True, Mkt is definitely masala of action, drama, tragedy & excitement.

Gautham Shashangan

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

I READ FROM YAHOO
"(NSE) on Wednesday said it will not issue mini derivative contracts on its key benchmark index, S&P CNX Nifty, from February as per market regulator's Sebi directives.

In a circular, NSE said it would not issue any fresh mini futures or options contracts from February 1, 2013.

However, the existing unexpired contracts till January 2013 would be traded till expiry and new strikes can also be introduced in the existing contract months.

Securities and Exchange Board of India (Sebi) had on Wednesday asked stock exchanges - BSE and NSE - to discontinue such contracts on their respective indices Sensex and Nifty with a minimum size of Rs 1 lakh.

The move was aimed to discourage small investors from getting attracted to these instruments.

Derivatives are contracts between two or more entities and their value depends on underlying assets such as stocks.

"Mini derivative (Futures & Options) contracts on S&P CNX Nifty Index (MINIFTY) for new expiry months shall not be available for trading on expiry of existing contract months ...no contracts shall be available for trading in MINIFTY with effect from February 1, 2013," the exchange said.

"However, the existing unexpired contracts of expiry months November 2012, December 2012 and January 2013 would continue to be available for trading till their respective expiry and new strikes would also be introduced in the existing contract months," it added.

The regulator had introduced mini derivatives in December 2007".

shashangan · Posted: Thu Nov 22, 2012 11:41 am Post subject:

Think break of 5632 in Nov will trigger the buys hopefully to the new highs.

If you wish you can trail your stops to 5614 from 5609-05 area.

Gautham Shashangan

shashangan · Posted: Thu Nov 22, 2012 11:52 am Post subject:

New high acharya. Exact point not sure yet. 5650-55 region Nov. Let it go up first. I want it to trigger past 5633.

Gautham Shashangan

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

shashangan, if it tries to make a double bottom around 5611/12 NS, your SL may be triggered. I think SL below 5612 is better. Assuming of course that it is going to go up again.

shashangan · Posted: Thu Nov 22, 2012 12:12 pm Post subject:

yes possible. I generally give tight stops, so the risk is minimum. The buyers have to decide the risk & place the stop accordingly.
I gave the stop based on the low of today as of now.

But yes you can keep it at same 5609 like before.

Thanks
Gautham Shashangan

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

makes sense since it can go down to 5590NF also

shashangan · Posted: Thu Nov 22, 2012 12:30 pm Post subject:

Yes, but mkt can reverse from around 5611 if there is a high pending. So 5609 below in Nov is better infact.

Just that intra days I am not able to focus properly, due to work at office.

Gautham Shashangan

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

shashangan · Posted: Thu Nov 22, 2012 12:46 pm Post subject:

Good one Vinay. I didn't see there is a reversal point @ 5611. Not getting time to check everything.

Looks good acharya as of now. Need to watch from here to 5645 levels. It may extend to 5660 also, let me try & keep a watch as of now. Not sure of the top yet

Gautham Shashangan

shashangan · Posted: Thu Nov 22, 2012 12:55 pm Post subject:

Right now a strong break of 5639 will take it to around 5655-60 i think. Shall confirm the top as I can feel it.

Gautham Shashangan

shashangan · Posted: Thu Nov 22, 2012 1:07 pm Post subject:

Acharya if your call buys of Nov are in profit, you can book it on next high, since weekend is nearing & next contract will become active from tomorrow till monday.

I wont be there tomorrow, since I have a training for full day tomorrow.
Take your call on your calls.

Good luck
Gautham Shashangan

acharyams · Yellow Belt Joined: 04 Jul 2010 Posts: 552

shashangan · Posted: Thu Nov 22, 2012 1:28 pm Post subject:

5641 or 5632 is the intra day break out levels as of now for this move in Nov. I will exit my intra day long at 5630 if it dips without breaking high.

Placed a Sell stop @ 5630.70 for my 5618.60 mini nov buy.

Gautham Shashangan