iCharts Discussions

shashangan · Posted: Sun Mar 10, 2013 7:31 pm Post subject:

Just taking a wild guess, since futures can expire, I am giving my target for Spot Nifty. I have already said by April (or if extended by May) the approximate min target for Nifty would be 6165 - 6200 region.

Anyway I have been trying to analyse & picturise the exact top. I am not very sure but there is a possibility Nifty spot can extend a little more to 6315-30 region spot basis. Atleast I strongly feel, it will not cross this region. But where ever the top it will be a very big fall again.

Please play caution, It's very early call, I can sound a little over ambitious considering where the mkt is at present & can go totally wrong too. Just challenging myself to predict the top well in Advance like always.

Let's see. Kindly do your own analysis. I am not responsible for your losses.

I shall update my view if there is any turbulence & deviation in the trend movements.

Thanks & Good luck
Gautham Shashangan

shashangan · Posted: Sun Mar 10, 2013 11:06 pm Post subject:

I have training tomorrow & day after, so may not be there at market hours.

So see you on Wednesday. Good luck & Happy Trading.

Regards,
Gautham Shashangan

pkveenu · White Belt Joined: 21 Apr 2009 Posts: 106

hi sheshagan

ur nifty analysis simply great
i read regularly ur post
and eagerly wait for the same on daily basis
dear
can u post little about larsen one
i have some short position started at 1368 level and further 1475 level
averaging at 1420 around
can u tell the technical levels about larsen

regards

shashangan · Posted: Tue Mar 12, 2013 12:11 am Post subject:

Thanks for your appreciation Veenu.

Well I didn't get time to go through it properly. Stuck with lot of important paper work & preparation for my training programs.

Just had a brief glance & I feel you have taken a short at the bottom of the trend as it would have been a level to buy.

Chart Showing closing 1510.20.

So for now I feel mkt is still strong. Near 1478 on the lows & Min 1525 followed by 1573 on the highs could be the range for next 2 weeks. Mkt may touch 1610 if extended, considering, if my Nifty upside comes true.

I would consider you lucky if you get 1455 - cover all or partial shorts to minimize your position if you get it.

If you want to hold just dont average & forget it for 2-3 months & it will break the 1350 lows again at least once for sure I feel, but only after the upside, can't say exact where, just follow my Nifty top & consider the same time for Larsen top.

Good luck
Gautham Shashangan

pkveenu · White Belt Joined: 21 Apr 2009 Posts: 106

Thanks shashangan

views on LT given by u even in ur busy schedule.

i also feel the same but one thing i wish to share with u that if LT spot level breaks 1490 today then it may again visit 1475 where the next course will depend on nifty movement and ur level 1455 if breaches then i would really be lucky
on 11th morning in the pre market opening the LT ticker showing Rs 140 around down that was 1355 around, might be due to heavy short already in the counter this resulted closure of 1510 around at EOD.

shashangan dont u think that banknifty is little hesitant to support the upward movement of nifty and may become the culprit to bring down the nifty

shashangan i donot know much about technicals etc so pls do not mind if i share my views with u only on the basis of my judgments after reading the forums post as well as watching media.

regards

shashangan · Posted: Tue Mar 12, 2013 5:14 pm Post subject:

Had a hectic Monday & Tuesday. Just got back, trying to sit & see the proceedings.

Sharing view is not a crime. Only when you do your analysis & also analyse the overall outcome of the analysis you can work on it to correct it or better it.

So your effort is good sign to build your knowledge & analysis. I appreciate it.

My view on Larsen remains same for now. 1455 could be a possible target unless Nifty goes a little more lower than what I had mentioned. I am overall bullish & generally try & give only one side view, so dont want to give any contradicting view, unless it deviates from my picture.

Bank Nifty movements is just matching Nifty movements, As the level predicted on 21st Jan was achieved which was near the bottom & to Long.

For now I feel Longs may start entering from 12050. It should be the level to watch for Bank Nifty. You should be lucky if you get 11920 the next target but very remote chance. 12410+ is the possible minimum target by Friday on the upside.

If Dow/ Nasdaq falls tonight you may see 5910 correction target area for NF, but there is a possibility it can take off tomorrow as mentioned earlier. I would mostly replace all my buys tomorrow, possibly at the open.

Play caution. Play with discipline. I can be wrong though.

Good luck
Gautham Shashangan

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

"....If Dow/ Nasdaq falls tonight you may see 5910 correction target area for NF, but there is a possibility it can take off tomorrow as mentioned earlier. I would mostly replace all my buys tomorrow, possibly at the open....."

Gautham, NF made a low of 5914.10 today. So the correction target given above by you and your statement that you "will replace your buys tmrw" is confusing.

shashangan · Posted: Tue Mar 12, 2013 7:07 pm Post subject:

I have cleared all my positions on friday & am flat & I was so tied up yesterday & today, I could not watch the mkt nor take entries, since I didnt have net connection at my training venue.

I did notice NF has tried 5914 low today which is close enough to my target I mentioned. But though not necessary, I feel Nifty can make one more low just below 5914 possibly again.

Also considering a correction in Dow & Nasdaq if it happens tonight, it may influence Nifty's open, it can possibly try the low of 5910 again or may open directly below. Also I did feel they may wait till wednesday to start the new up move. So In case if I get 5910 or below NF, I would buy NF & 6000, 6100 or 6200 Calls. since I will be watching mkt & am not so busy tomorrow

Thanks
Gautham Shashangan

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

ok gautham, I thought you meant replace all your buys with sells! Smile

shashangan · Posted: Tue Mar 12, 2013 9:56 pm Post subject:

It's ok.

I am trying to trade one position for the main trend which according to me is bullish. So when I say i closed all my positions & I will replace it. It means I will replace the profit booked long position a little lower again. i.e., staying Long for the whole trend till the overall target is achieved.

So in bear trend if i say i will replace my position it will be covering my short & selling again on pull back a little higher.

Sorry for the confusion

Thanks
Gautham Shashangan

rksharma1091 · White Belt Joined: 20 Jan 2009 Posts: 49

Thanks for your views Gautam Shashangan.
I have booked Nifty 5600 puts today at 12 rupees on 12th Feb 2013 now i took 6200 nifty calls at 7 rupees. After the correction is over it appears we may see big upside this month or next till global cues are up. Inflation data on thursday....19th RBI rate cut possibility ....mkt may have upside more 6000 plus.....with some hiccoughs at times...... Razz

shashangan · Posted: Wed Mar 13, 2013 8:33 am Post subject:

It's my pleasure sharma. I don't know what will be the movement of Nifty during data. Anyway hoping mkt will go up. let's see.

Thanks
Gautham Shashangan

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

Gautham, I feel we could see a big fall today.

shashangan · Posted: Wed Mar 13, 2013 9:02 am Post subject:

Well it's possible. But why do you think so. Is there any news today. I am planning to buy 5903 around.

Gautham Shashangan

shashangan · Posted: Wed Mar 13, 2013 9:23 am Post subject:

Bought March 5897.10

Bought March 6100 Call @ 11.10

Bought April 6200 Call @ 19.10

I think possible Intra day target could be 5965 & above NF. I could be wrong.

Gautham Shashangan