iCharts Discussions

shashangan · Posted: Thu Jan 03, 2013 1:48 pm Post subject:

I hope the selling starts from here now around 6036+.

Let's see.

Gautham Shashangan

shashangan · Posted: Thu Jan 03, 2013 1:57 pm Post subject:

High Risk -

Place an order to Short Jan again @ 6041-44. Decide the stop. Tight stop 6055. Dont play without stop.

If I am not wrong, below 6028 should attract some selling via intra day stops.

Target 5998.

Gautham Shashangan

shashangan · Posted: Thu Jan 03, 2013 2:48 pm Post subject:

Below 6034 relief, below 6028 small confirmation for shorts.

Good luck

Gautham Shashangan

shashangan · Posted: Thu Jan 03, 2013 2:51 pm Post subject:

Mkt playing mind game, testing your nerve.

Gautham Shashangan

shashangan · Posted: Thu Jan 03, 2013 2:56 pm Post subject:

There will be selling here from around 6045/46, let's see how is the strength.

Final attempt to sell off, hope they come with their Guns blazing.

Gautham Shashangan

shashangan · Posted: Thu Jan 03, 2013 9:12 pm Post subject:

My older long & medium term view got slightly affected due to the unfortunate bull close for the Dec month.

I had to re-do all the extensions & adjustments. To begin with the mkt has been struggling to reverse to bear so far. Only small intra day tops I am able to pick, but no sharp reversal or fall has happened yet.

Anyway I feel mkt is possibly reaching a short term top if not medium term. It can be anytime from tomorrow through to next week. I definitely see one more high for sure. NF should see a top anywhere near 6065-70. If there is an extension it may go to 6080-85 max, not beyond as of now.

You will see min 6020 for sure on the lows if anybody is holding positional shorts, but you should also be prepared for the new high.

NF Range for mkt till Tuesday 6080-5990. (NS- 6035-5965)

The mkt may again go into my old targets which I mentioned last month on the lower side. It may not go so deep like I mentioned, probably 5845-40 area for sure, but it's still early for that, so shall wait to confirm that outlook for now.

People who have 100-200 points risking capability can short from around 6065. It could be good catch for a handful. I shall update in the day of the exact top unless if I am not there.

I need to re-look my view only if there is a sharp rally & if mkt closes right at the high like 6100 or above, which I feel unlikely as of now.

It's an approximate guess, based on my analysis. So kindly do your analysis, I can go totally wrong on my readings.

Regards,
Gautham Shashangan

shashangan · Posted: Fri Jan 04, 2013 9:03 am Post subject:

Jan to open between 6030-35.

Possible Range - NF 6045-5998 / NS 6030-5985.

Regards,
Gautham Shashangan

shashangan · Posted: Fri Jan 04, 2013 9:29 am Post subject:

People who are holding & asked me what to do with their positional shorts.

If you dont want to risk, place an order to partially or fully exit @ 6020-18 based on your exposure.

The mkt can possibly be sideways to down for the early part of the day. Will update on possibilities later.

Regards,
Gautham Shashangan

shashangan · Posted: Fri Jan 04, 2013 12:07 pm Post subject:

Strictly Intra day

High Risk Trade - Place an order to Short Jan @ 6031-33 stop 6047

Target open (Possible 6000-5998)

Regards,
Gautham Shashangan

shashangan · Posted: Fri Jan 04, 2013 12:37 pm Post subject:

Cancel unfilled pending orders of short for now. I shall update later If I see an opportunity again.

Thanks
Gautham Shashangan

shashangan · Posted: Fri Jan 04, 2013 1:06 pm Post subject:

Place an order to cover all your shorts for now @ 6016-13

We shall see later.

Gautham Shashangan

shashangan · Posted: Fri Jan 04, 2013 2:08 pm Post subject:

Strictly Intra day

High Risk Trade - Place an order to Short Jan @ 6039-43 stop 6055

Target open - This is only for risk takers. Play mini or stay out if you dont want to risk.

Regards,
Gautham Shashangan

shashangan · Posted: Fri Jan 04, 2013 2:46 pm Post subject:

Sorry not very comfortable

Since there is one more high pending. I think it would be wise to wait for the top to short,

So I recommend to exit shorts around 6037-35. We will get 6065-70 by Mon or tuesday.

Gautham Shashangan

shashangan · Posted: Fri Jan 04, 2013 3:30 pm Post subject:

I may not be there possibly on Mon. So good luck with your trades. Going to be probably busy from next week.

In case I am not there I recommend to Sell all your calls & longs. Preferably Buy 5900 & 5800 puts on Mon, so you will get a hedge to long when it gets there.

Positional traders can start going short from 6065-75 area. Monday can possibly be a Bull close according to me. But dont be caught off guard with sudden fall. The selling reversal may mostly be from Tuesday, but the chances of reversal could start anytime from Monday afternoon. There is a possibility of an Inverted bearish hammer (shooting star) on Monday or Engulfing pattern. If I am there I can possibly try & pick the approximate top.

In any case, Just cautioning you in advance.

Jan Range till Wednesday - (6085 - 5985)
Spot Range till Wednesday - (6055 - 5964)

And well I need not be right, please do your analysis.

Good luck & Enjoy your weekend.
Gautham Shashangan

shashangan · Posted: Mon Jan 07, 2013 1:53 pm Post subject:

Sorry having a busy day not able to see mkt. Just on Lunch break.

Had a glance, missed my 6065, but was almost there. Anyway if I am not wrong there could possibly be one more attempt near 6050 before 15:00 hrs.

Shall update If I finish off my work & get chance to watch mkt. As of now I have put an order to short Jan @ 6050.70, let's see.

Also got one 5800 Jan put @ 12.60 & one 5700 put @ 5.85 filled. Didnt pick 5900 since it's a little expensive.

Later
Gautham Shashangan