iCharts Discussions

shashangan · Posted: Tue Dec 11, 2012 3:35 pm Post subject:

Again the closing pull back though not a total pull back is not impressive. But it's still fine, there will be close fights before the bulls will give up I feel.

Let's see what they do at open tomorrow. If it's a gap down it would be perfect.

Shall update later if i find any cues.

Good luck
Gautham Shashangan

shashangan · Posted: Tue Dec 11, 2012 3:53 pm Post subject:

Please dont ask any questions about the chart. It's only for reference.

No questions please.

Gautham Shashangan

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

Gautham, check same charts of nifty spot

shashangan · Posted: Tue Dec 11, 2012 10:47 pm Post subject:

Hello Vinay,

I dont have good Spot charts & it always look different. But anyway this is something I could manage. Hope it helps.

Gautham Shashangan

shashangan · Posted: Wed Dec 12, 2012 8:58 am Post subject:

Dec Nifty Likely to open around 5935-40.

Place order to Short Dec between 5948 - 5953.

Max may be 5960 if extended.

Intra day Stop 5987

Gautham Shashangan

shashangan · Posted: Wed Dec 12, 2012 9:29 am Post subject:

I feel the mkt may attempt one more high around 5954-58 before reversing.

I could be wrong. Play with stops. Play safe.

Gautham Shashangan

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

Gautham but you attached NS chart for a much longer period. I am attaching one for same period as that for NF which you attached but drawn through slightly points. Now pl compare vis-a-vis your comments on NF chart.

shashangan · Posted: Wed Dec 12, 2012 9:39 am Post subject:

If you want to take a small risk, You can place an order to

Buy one Dec 5600 put around 4.00

Buy one Jan 5500 put around 11.

This is to hedge with a buy in futures if markets get there. I could be wrong. It's an investment to avoid placing stops.

regards,
Gautham Shashangan

shashangan · Posted: Wed Dec 12, 2012 10:41 am Post subject:

Hey Vinay,

Cant figure out much from the chart. Stepping out for some time. Shall check in leisure & update.

Gautham Shashangan

shashangan · Posted: Wed Dec 12, 2012 10:45 am Post subject:

Move your stops to 5973 if you want to. Hope it breaks 5926 for now. Let's see. I am stepping out for a while, shall come back & update

Thanks
Gautham Shashangan

shashangan · Posted: Wed Dec 12, 2012 3:12 pm Post subject:

Intraday players can move your stop to 5948 or break even or exit before close, if you dont want to risk.

We need a strong break below 5928 to trigger some selling.

Gautham Shashangan

shashangan · Posted: Wed Dec 12, 2012 3:51 pm Post subject:

There has been literally a war between the punters & short term longs.

As per my psychology reading, The punters are also scared at the moment to push it down, because every time they are selling below the previous low to fish the stops, new buying is coming in more than intra day longs bailing out.

So they are playing cautiously, not risking to hammer it down, since if it doesn't work they will get washed out, coz they play with huge funds. But they have been able to hold mkt.s red & if you see the closing of previous days it's all been more or less same, but lower.

But let's see, it's also test of mental strength, somebody will give up & hoping the bears to win. Just need a few other punters to come in & join hands to add fuel to the fire.

The U.S markets has been quite erratic. We shall see what happens tonight.

Goodluck & shall update if i find some cues.
Gautham Shashangan

shashangan · Posted: Wed Dec 12, 2012 6:33 pm Post subject:

Spot Nifty Analysis. Check it if it helps.

Also futures attached. Dont ask me any questions, it's self explanatory. I am signing of for the day. See you tomorrow.

Good luck & Good night,
Gautham Shashangan

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

thanks gautham

shashangan · Posted: Thu Dec 13, 2012 9:04 am Post subject:

Dec Nifty likely to open between 5925 - 35

High - Low Range @ opening - 5950 - 5905

Stops above 5964 for shorts & below 5916 for longs

Regards,
Gautham Shashangan