iCharts Discussions

shashangan · Posted: Fri Jan 18, 2013 9:53 am Post subject:

Strictly Intra day

Place an order to short Jan @ 6094-96 Stop 6116. Target open. Min possibility 6064.

Gautham Shashangan

SP50 · Brown Belt Joined: 26 Nov 2010 Posts: 1615

shashangan · Posted: Fri Jan 18, 2013 3:52 pm Post subject:

Hello

Am sorry was stuck with some client meeting. Could not watch the closing.

Though Jan has closed below 6076-78 region, the closing is not very convincing.

The only consolation is it has held the previous top. The mkt is not giving clear direction, at least I am not clear. But the weekly close is strong, so there is possibility of a very strong move up.

Just one last chance for bears is on Monday. It can turn a bear if mkt opens lower & closes down without filling gap or if there is a big bear candle testing 6010 or below.

I am again rushing out for a meeting, shall check & update later.

Gautham Shashangan

shashangan · Posted: Sat Jan 19, 2013 8:42 am Post subject:

I would be away for some time since I am traveling out. I should be back by Feb.

I shall try & update if I get time, but not sure.

Regarding mkt, The U.S mkt has closed strongly yesterday, so not sure if mkt will again open higher, but may possibly try 6057-53 near the open.

A min break of 6045 followed by 6033 will give some intra day hopes for bears.

The mkt needs to close below or make a sharp break below min 6000 to turn short term bearish.

The mkt starting to give some strong bullish indications to me with yesterday's close.

If mkt goes through 6095 & holds or makes a sharp move above or consecutive closes above, the mkt is heading to min 6185 & if that also doesn't see reversal then it may continue to top out around either 6275 or 6300.

The mkt can still trick you. So just wait for conformations to confirm the trend. Let it break 6095 & hold then buy on dips for the upper target, if not like I said before, it could be a trap. If I was there I could probably pick up the sentiment & guide, but as of now even my bearish feeling is almost in big doubt & I have become neutral to watchful.

I dont know if i will be able to update, shall try, until then, take care

Good luck & Happy trading.

Regards,
Gautham Shashangan

vinst · Black Belt Joined: 09 Jan 2007 Posts: 3303

Gautham,

thanks for your views and have a good time while travelling (for whatever purpose).

Keep posting at your convenience.

shashangan · Posted: Sat Jan 19, 2013 11:51 pm Post subject:

Thanks Vinst,

Well I am on a business cum personal trip. I shall definitely try & update if it's possible.

Take care of yourself. I hope to come back soon.

Regards,
Gautham Shashangan

shashangan · Posted: Thu Jan 24, 2013 1:19 pm Post subject:

Hello friends,

Just got time to have a glance of mkt.s. Not tracked mkt closely, anyway I feel Jan may try 6005 before closing if I am not wrong. 6045-50 region should see selling.

Good luck
Gautham Shashangan

shashangan · Posted: Sun Feb 17, 2013 12:23 pm Post subject:

Hello friends,

Just got back to Bangalore on Friday. Was away for almost a month. Could not track mkt closely, but was noticing the developments in between.

But anyway at last the correction down I have been expecting from 2 months has finally come.

Did a quick analysis.

I think the mkt can pull up a bit to correct the present down trend to 5965 region which could give some stiff resistance. If upside extends, Mkt may try around 6000 region max. Be prepared to short from around 5965 NF. When mkt gets there, I shall update the top in case I am watching the mkt. Once selling resumes mkt can target around 5745 region & 5720 if it extends a bit.

There can be intermediate pauses around 5820 & 5775.

Cautioning in Advance - Though little early to say, Be careful as mkt nears 5750 with any Short positions. People will turn bearish & give all justifications with budget for a big bear trend. The mkt will again resume uptrend to go on to break the previous highs. Min target would be 6165 by April from 5745 or a little below.

Just settling down from my trip. will take a few days. I will study the trend little more in detail slowly. Kindly do your analysis as well.
Play cautiously.

Thanks & Regards,
Gautham Shashangan

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

".....The mkt will again resume uptrend to go on to break the previous highs to target 5165 around min., by April....."

Uptrend to 5165?

shashangan · Posted: Sun Feb 17, 2013 2:04 pm Post subject:

Sorry corrected - 6165.

Thanks
Gautham Shashangan

shashangan · Posted: Tue Feb 19, 2013 3:22 pm Post subject:

I think the mkt has made the top for the day. Should hold 5960 for now

Thanks
Gautham Shashangan

shashangan · Posted: Wed Feb 20, 2013 11:17 am Post subject:

I think NF 5945 on the downside & possibly up to 5975 could be the trend for now.

Regards,
Gautham Shashangan

manojkr78 · Green Belt Joined: 07 Mar 2011 Posts: 1014

Gautham,

Can we buy nifty for tommrrow.

Manoj

shashangan · Posted: Wed Feb 20, 2013 3:12 pm Post subject:

I would short if i get NF 5980 & above. The mkt may fall tomorrow i think, I could be wrong though. If you short you should get 5945 min. tomorrow. Could be a down turn but little early to tell for now.

thanks
Gautham Shashangan

manojkr78 · Green Belt Joined: 07 Mar 2011 Posts: 1014

thanks