iCharts Discussions

shashangan · Posted: Wed Nov 28, 2012 8:36 pm Post subject:

I think it will be good exit on Nifty shorts at this rate of Dow.

I was expecting a top tomorrow night for Dow.

It looks like going further down. Just pray it closes low. Dow is in a short term bear trend for now.

Expect Dec Nifty to open min around 5740-35 or lower If Dow continues.

So again I will be right, you should be able to come out with a small profit if not big.

Good luck
Gautham Shashangan

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

shashangan · Posted: Wed Nov 28, 2012 9:10 pm Post subject:

Hold on to celebrate. Dow has to close lower.

There should not be total recovery in Dow. Then it will be back to square one.

The trend was looking bearish, with such sharp fall, lot of stops would have got taken out. Only big players can take it up. So let's wait & watch. There is some buying happening in Dow for the moment.

Gautham Shashangan

sonshu101 · White Belt Joined: 24 Nov 2011 Posts: 79

I thought u were long on Nifty. and secondly now a days Nifty is not following DOW......

shashangan · Posted: Wed Nov 28, 2012 9:29 pm Post subject:

Hello Sonshu,

Yes I was long in Nifty for a few days, I exited @ 5717.40 (Nov).

I took a intraday short @ 5754.80 in Dec mini yesterday & recommended others we can carry the position, because it closed higher @ 5671 & our stops of 5776 didn't trigger.

I am expecting min around 5740 in Dec & possibly 5720 region before bottoming somewhere to resume the next trend.

Check the old post. Today's holiday has put us on speculating the Dow for a lower open to get a reasonable exit.

Let's see

Thanks
Gautham Shashangan

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

gm, sir

shashangan · Posted: Thu Nov 29, 2012 9:34 am Post subject:

Good morning,

Sorry was stuck with some work at office. It was really bad the Dow & Nasdaq recovered to close so strongly. The Dow had broken all the lows for the week & was at a weekly low & it went to break the week's high & close there.

The mkt is supposed to stop here around 5805-10 region for a small correction. But the mkt is still strong. Need to wait for a while before it consolidates to correct. 5770 in Nov achieved.

Gautham Shashangan

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

shashangan · Posted: Thu Nov 29, 2012 9:46 am Post subject:

We have to wait for a pull back, which should happen, but right now the mkt is still strong. There is a correction which has to happen from here, but top is not in place as of now for intra day.

Gautham Shashangan

shashangan · Posted: Thu Nov 29, 2012 9:52 am Post subject:

I think it should correct from here 5822-24 . Dont short. Just watch.

Gautham Shashangan

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

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

acharya it's dec fut

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

holding the short still

shashangan · Posted: Thu Nov 29, 2012 12:12 pm Post subject:

Looks like Nifty has topped for the moment on intra day basis..

It's just unfortunate, the dow closed so strong. Anyway Dow has to top out late today evening or tomorrow according to me.

The movement upside for the day will be slow in Nifty. Shall update what to do when I get clear picture.

Gautham Shashangan

shashangan · Posted: Thu Nov 29, 2012 12:31 pm Post subject:

Dont enter any position to average. Tell me your risk capability & we will see.

Gautham Shashangan