iCharts Discussions

[Dkaur]

[shashangan]

Thanks Kaur, you are right.

I regret the mess. I feel so stupid now, I predicted the entire move so well in advance & I entered against towards the closing.

Anyway, I take the responsibilty to bail you out without a scratch. Just tell me your maximum risk & tell me what you are doing, so I know if you are doing the right move.

But one thing never average when you are stuck unless you know it will definitely reverse. You will be exposing yourself for bigger tension.

Gautham Shashangan

[vinay28]

just have patience till after 1.30 pm when real fun begins

[dharmeshtr]

Booked all my Longs:-
1 @ 5752
2 @ 5782

Shorts have been built up in Dec Series.
NF could correct to 5750 - 5725 (Dec series) roughly.

Pls have a safe trade and check the chart before deciding any trade. I may be wrong also.

Rgds.,
Dharmesh

[shashangan]

Thanks Dharmesh

Yes hoping for a good intra day correction atleast. But The trend is still strong. Though there is a possibility of a top soon, it is not confirmed any top for a big correction yet.

The Dow is also strong for the moment & indicating Dec Nifty will open around 5885 tomorrow. I made a mistake, I read the intra day correction wrong & recommended short. Entering was ok I should not have recommended to carry it, Knowing the main trend so clearly bullish. The holiday in between also spoilt the show.

Anyway I cant blame anybody, just feeling so stupid, when I was the 1st guy who said this big move & kept reminding everybody, I should not have held the short.

Let's hope for the better for all.

Gautham Shashangan

[rajmuthusamy]

Dear Mr Shashangan,

Seeing your detailed analysis on Nifty - i had exited my 5500 put few days back at small loss.. However, that was a good and timely decision and all credit goes to you and your detailed note on Nifty...

sure, you and yr post readers will benefit immensely on your analysis in the coming days...

Thanks and regards

M Rajaguru

[acharyams]

[SP50]

Gautam if you are looking at some top out in next few days it looks like may be beginning of Jan 2013,

[shashangan]

Hello Raj

I am happy if somebody benefits from my analysis. It is satisfying that my time I put in is worth it.

Thank you I appreciate your compliment.

Gautham Shashangan

[shashangan]

Hello Acharya

I am waiting for some good correction to happen to ask you to exit. Do you have any call buys as a hedge in Dec.

Gautham Shashangan

[vinay28]

gautham, what's your level from where reaction can happen and how much?

[shashangan]

Though mkt is strong, It will take a few days to top out. 5980 for Dec contract could be a possiblity.

There is a possiblity if mkt tops out by 2nd week & begins to see selling it can again come back to 5500. But it's little early to say. I can do guesses which could be right, but it can go wrong too, then I have to find an explanation to justify, so want to confirm everything before I say, Yes Now mkt will reverse. Because If bull run extends continuously then the whole calculations will change. It may go to 6500 also on a long term basis. But as of now 6100-6200 would be the overall top, which again will take months probably by Feb end to March.

Immediately I am waiting for a near term top. Once I see the sentiment change I can start projecting where the correction would be & from where it can again reverse up with the duration & time. The challenge is to read the top then read the correction till where they can take it. Right now only very small intra day corrections are happening. I need to watch the short term moves first & confirm a top for short term, then medium & long term. As of now mkt is strong & not topped out.

Gautham Shashangan

[vinay28]

right. the way liquidity is flowing in, it can go one way to 6150 also

[shashangan]

The only difference in my trading style is I play lot of options, along with futures.

So my risks are there, but it's a calculated risk, because to an extent I am able to predict mkt.s. I have a few call buys of 5900 & 6000 taken long back.

I will be buying puts probably 5600 & 5500, as I confirm a medium term top, like I had asked to buy 5900 & 6000 calls when mkt was at bottom. I am scared to recommend to buy options because, if the trend doesn't work then the entire investment in the options can go worthless, but that's the risk I am willing to take.

One big problem I am facing is to dedicate time for intra day. I am trying hard to do all the calculations & sentiment reading right. It's too short time to get it right, because the mkt is fast moving while active. Anyway all the mistakes are learning, I shall try & be careful in future.

Gautham Shashangan

[acharyams]