iCharts Discussions

shashangan · Posted: Fri Dec 21, 2012 1:00 pm Post subject:

It's 1 pm now. So they tried a dip they could not fish many stops.

So we are entering the drama time. Being Friday I think we probably could expect some movements till 2.45 pm. Because many would have now cut their longs & booked losses or reversed their positions to short.

Let's see.

Gautham Shashangan

humble · White Belt Joined: 12 Nov 2012 Posts: 29

shashangan · Posted: Fri Dec 21, 2012 2:55 pm Post subject:

Good luck,

for now there is a war going on below 5866. As of now punters are winning in the hammering.

holding my breath & watching

Gautham Shashangan

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

Gautham, I feel till NF doesn't close below 5851 or worst case 5835, uptrend is intact.

shashangan · Posted: Fri Dec 21, 2012 3:01 pm Post subject:

Let's see, it's another half an hour, There could be buy back around 5850 NF

Gautham Shashangan

shashangan · Posted: Fri Dec 21, 2012 3:01 pm Post subject:

Intra day players cover Dec shorts at 5848 just to be safe. The punters guns are getting empty there could be a pull back.

Gautham Shashangan

shashangan · Posted: Fri Dec 21, 2012 3:32 pm Post subject:

Bingo!

Another action packed day.

God bless my Annadata Nifty. So far so good. We shall see tomorrow.

Shall update if i get any cues.

Regards,
Gautham Shashangan

humble · White Belt Joined: 12 Nov 2012 Posts: 29

Placed Tight SL 5877.05 For a Target 5838 Laughing

[/quote]

Covered @ 5850

bugs3003 · White Belt Joined: 22 May 2012 Posts: 109

Wonderful day and thank you Gautam sir for the guidance today during each of the phases.
By just following your threads and understanding the situation presented by you, I am able to follow much better risk mgmt than i was a few weeks back Smile

shashangan · Posted: Fri Dec 21, 2012 4:24 pm Post subject:

Good going Humble. Am happy for you.

Thanks
Gautham Shashangan

shashangan · Posted: Fri Dec 21, 2012 4:27 pm Post subject:

The mkt is broken & closed below a Major TL which it had tried several times. Check the daily chart TL drawn around 5866. It broke that TL on Monday when it tried around 5840, but pulled back totally confusing many people.

So today it has closed below 5866, which has weakened the trend & also making the weekly a bear close. There is no major support if you look back between TL 5866 & 5817. So fall can be big with only small intra day corrections possibly heading to 5782 & 5750 area subsequently after probably a small recovery from 5817.

Before turning up for the target around 6200, though little early to guage an extension to 5680-55 area cannot be ruled out on the lower side. It will unfold in due course based on the strength of the selling sentiment as mkt dips down.

The week's weak close indicates a bear close possibility on December monthly charts, which I have been telling for some time now

The first resistance area is 5866 -72 area. There can be a pull back possibly between 5885-93 area. Selling should start from around this area. If there is an extension, it may try 5900. According to me, a move above 5918 is most unlikely.

Only a sharp rally through 5930 or close a above 5925 is trend reversal.

Check the weekly projection chart I have attached. It's a rough picture of the movements. It need not be accurate nor correct. It's a estimate. I can go totally wrong though. So do your own analysis as well.

The charts are self explanatory. I have given all the explanation, which many analysts wont disclose. Anyway I hope it helps.

My best wishes for the festive season.
Gautham Shashangan

shashangan · Posted: Fri Dec 21, 2012 5:30 pm Post subject:

Great Bugs & thank you.

That's nice of you.

Hope you do well in future as well

Have a wonderful weekend.
Gautham Shashangan

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

shashangan · Posted: Fri Dec 21, 2012 6:56 pm Post subject:

Go through the chart below. I have updated it.

Thanks
Gautham Shashangan

shashangan · Posted: Mon Dec 24, 2012 8:59 am Post subject:

I am extremely sorry. I apologise.

That was for Jan futures not Dec. Got confused with the U.S curb mkt.s

But anyway the entries I mentioned will apply for Jan. So it's fine.

Thanks

Gautham Shashangan

Merry Christmas to all.

Christmas is probably bringing some good luck for longs.

Can anybody tell me, which days are mkt closed.

I cant figure out what's wrong. But NF may open right above all the Levels I mentioned on Friday.

Dec likely to open between 5920-30.

I was expecting a possibility of a higher open max 5880, but not so much.

5851 close & 5920+ open is 70 points, that's manipulation. Opens are not in our control.

Anyway let's see how it will go.

High Risk Opening trade - Place an order to short Dec @ 5939-47 stop 5973

Min Targets - 5912/5900. I shall update the other possibilities later.

Regards,
Gautham Shashangan