iCharts Discussions

[daytrader007]

Date - 22/05/2008

NIFTY outlook for intra-day: range bound to Weak

Likely NIFTY future range for the day: 4970-5012 in lower side, 5130-5145 in upper side.

NIFTY spot is making a triangle pattern. As of today, the range as per triangle 4996-5133 Nifty spot levels. When it trades below 4996 or above 5133 consistently, we will see break out or break down for directional move.

Strategy for intra-day: If NF trades below 5075 NF will be weak. I will look for shorting opportunity around 5075-80 for those lower ranges. In case market sustains above 5105, i will try long.


Disc: NIFTY ranges are not for using as short or long targets. I am not responsible for any loss due to SL hitting.

[tangotaurian]

Hi swdas...thnx a lot for levels..i`ll look for these levels & will follow the trend

[daytrader007]

If anyone is short book 75% here.

[tangotaurian]

dada...shall i buy long here for some points...if yes wht will the levels..???

[daytrader007]

Tango, you missed the bus closest to the triangle bottom. 5000 around.

[tangotaurian]

now what should i do??? wait for next chance?? plz let me know

[daytrader007]

Tango, please do not force the thing. let market play out. I am concentrating on individual stocks. like BOI ran up 3% in last 1/2 hr.

[daytrader007]

BOI is rocking one way.

This is my current view:
NF probable resistance level at 5073 future. NF touched 5000 which is lower end of triangle. hope exit call helped you.

[daytrader007]

Nifty spot is getting around the level 4996. Let;s see if we break it and close below it.

[daytrader007]

looks like NS wants to keep triangle formation intact. and covering/buying again seen from 5000 around that level. we need to see what happens tomorrow.

[daytrader007]

this would happen logically, if NS does not close below 4996 today, we will pull back to higher end of the edge i.e. 5133. This may not be completed today. If NF wants to break the pattern in down side either it will close below 4996 NS and subsequently it has to trade below 4996 tomorrow.

hope this helps!!

[vishalpd]

Swads, good levels

4966 - 500 held on very strongly.. Was not broken through the day. Keep up the good work. I am carrying couple of 5100 calls at 35.

[kiran.jain]

hello swdas..... so 2day u r here.....

hope 4rm now onward u would post here......
b in touch
thnks......

regards

[kiran.jain]

hello dada....... would follow u here....
keep posting.....

keep smiling.......

[daytrader007]

Date - 23/08/2008

NIFTY outlook for intra-day: range bound to positive

Likely NIFTY future range for the day: 4990-5010 in lower side, 5090-5125 in upper side (Nifty future rates).

Today's NS triangle edges are 5003 and 5126

Strategy for intra-day: see if NF support work between 4990-5000. In that case, I will look for longs today. However In case NF trades below 4990, then I will change my view and try to short. In case NF opens higher, do not try to long at high levels as most likely it will test lower levels (5000 around) today.

Those who like hedged long may be NF long with 4900 PUT hedge will be better idea.

Also keep an eye on 5100 call.


Disc: NIFTY ranges are not for using as short or long targets. I am not responsible for any loss due to SL hitting.