iCharts Discussions

shashangan · Posted: Mon Jan 20, 2014 10:41 am Post subject:

Thanks Krishna,

If you have multiple longs, Book partial profit 6319-21 & replace lower.

Above 6332 & 6348 there should be panic covering. Wont be surprised if there is a wild & mad up move.

Thanks
Gautham Shashangan

musicaldelhi · White Belt Joined: 17 Nov 2011 Posts: 186

ca.krishna · White Belt Joined: 17 Sep 2013 Posts: 158

Thanks...I have booked 50% and holding balance 50%

shashangan · Posted: Mon Jan 20, 2014 11:29 am Post subject:

Thanks MD,

Place an order to buy NF @ 6301-98 with tight stop 6280. Feel above 6338 lot of stops would trigger. Play minimum.

Regards,
Gautham Shashangan

shashangan · Posted: Mon Jan 20, 2014 1:03 pm Post subject:

If not bought Place an order to buy NF @ 6287-85 with tight stop 6277. Play minimum.

Hopefully should start moving up just after 13.20 hrs.

Intra day - Tata steel buy @ 370-69 stop 360. Low showing now 371.06

Regards,
Gautham Shashangan

shashangan · Posted: Mon Jan 20, 2014 1:17 pm Post subject:

Buy

Rel Ind - 864
Rel comm - 128
Tata Motors - 372-70
Tata Power - 76.40
Tata Steel - 371-70
Bharti Airtel - 307-305

Regards,
Gautham Shashangan

shashangan · Posted: Mon Jan 20, 2014 1:26 pm Post subject:

If you have Higher buys exit @ 6305 & hold the lower ones with stop 6275.

regards,
Gautham Shashangan

shashangan · Posted: Mon Jan 20, 2014 1:49 pm Post subject:

Immediately NF 6305 above should trigger some buying. If the move gets stronger it's good for breaking highs.

Let's see what. A move below low will slow down the intra bull

Regards
Gautham Shashangan

shashangan · Posted: Mon Jan 20, 2014 2:39 pm Post subject:

Since mkt not gaining momentum, If you want to do some punting, Exit @ 6310-11 & Replace lower. Thinking closing should go up.

Shall update the buy again if it corrects. Medium term players can hold.

Regards,
Gautham Shashangan

shashangan · Posted: Mon Jan 20, 2014 2:44 pm Post subject:

Place an order to Buy NF again @ 6293-91 with stop 6277. Min immediate Tgt 6359-62.

Regards,
Gautham Shashanan

shashangan · Posted: Mon Jan 20, 2014 3:39 pm Post subject:

After a long time was free to update today.

Shorts should just pray it doesn't open very far higher. If above 6338 may not fill gap & can try 6385 for intra day followed by 6530 hopefully by Thursday.

There is a T/L resistance near 6360, but may take it out sharply, since many traders would possibly exit & short that level.

But still the mkt has not been fully convincing to me, as I am expecting a bloody sharp up move for long now & it has not come yet.

Below 6285 immediate stops & below 6245 more stops. Let's see tomorrow.

Regards,
Gautham Shashangan

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

shashangan · Posted: Mon Jan 20, 2014 3:51 pm Post subject:

Yes Vinay, it will be too big a move if you picturise the candle for 6530.

But I am expecting one gap & such a move based on pshcology, since a move like that will be a total trap of shorts, as they would hold their position, since the gap up & loss would already be big & emotions will take over. So that will give the punters the merry to keep pushing Nifty higher & higher till this bears are dragged bleeding to their defeat & bailing out.

The other thing is 6360 onwards they will average & every small move up will keep triggering the panic bail outs, eventually resulting in 6530. It can happen since nobody would be expecting such a big move so fast, even the longs who are bullish.

It's been playing on my mind. Dont get carried away, Not necessary, I will be right. Just posting my feeling. Also I will have to re-look my analysis if mkt fools me & dips below 6245. As of now I am positive. It needs to strongly break break 6339 & 6348 levels for the next action to watch. let's see tomorrow.

Regards,
Gautham Shashangan

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

shashangan · Posted: Tue Jan 21, 2014 12:25 am Post subject:

Vinay, to be honest the moves for some time has be quite irritating to me. If you look at the weekly charts, last 8 weeks it has been around these levels.

Yesterday I was also having confusion & doubts as It came close to NF 6244 & 6235, but I was just holding on to my nerve than changing my stand & it didn't test or break, just as my gut feeling.

The recovery of yesterday from low was pure mental psychology which I guessed. So same I feel now about the higher break out. A down move again will be another testing of my nerves & patience. Looking at weekly congestion a break out both sides is possible, but if you look at the break out levels the nearest & closest is the upper levels.

Considering 6339 & *6348* the immediate break out levels, which is a hop away from where the NF closed (6318) followed by the next barrier, which is the sloping T/L around 6365. Taking out 6365, the next level 6410 I feel should not be difficult to break. If trap psychology has to work, what I feel should happen since this is the right time for exploiting the Shorts weakness & a continuous sharp up move will help the punters reap the harvest.

The lower break out levels 6244 being far & the next total reversal level being 6150 which is even farther now, my sixth sense is just saying, dont rule out the possibility of a wild up move, just because nobody would expect such a strong up move normally, I have this feeling.

Anyway we will know by noon hopefully. Let's see what the mkt has in store. My views just to caution shorts not to take big risks & also for longs to play minimum.

Regards,
Gautham Shashangan