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Nifty View - December |
psalm
Black Belt
Joined: 12 Nov 2011
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Post: #121  Posted: Tue Dec 04, 2012 2:49 pm Post subject: |
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| vinay28 wrote: | | then it is channel break out target and not CnH |
Fine... |
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vinay28
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| Post: #122 Posted: Tue Dec 04, 2012 2:50 pm Post subject: |
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SP50
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Joined: 26 Nov 2010
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| Post: #123 Posted: Tue Dec 04, 2012 2:55 pm Post subject: |
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5886 and above for spot now seems some problem,  |
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psalm
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| Post: #124 Posted: Tue Dec 04, 2012 2:58 pm Post subject: |
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| taxmann50 wrote: | | 5886 and above for spot now seems some problem, |
When I said 5885-5886 levels, I didn't realize that today's high is at 5887....  ..so, if there is any pattern, breakout could happen above today's high only... |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #125 Posted: Tue Dec 04, 2012 3:01 pm Post subject: |
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| till Thursday, VIX ki goli khao (buy puts) aur khich khich dur karo! |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #126 Posted: Tue Dec 04, 2012 3:01 pm Post subject: |
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| psalm wrote: | | taxmann50 wrote: | | 5886 and above for spot now seems some problem, |
When I said 5885-5886 levels, I didn't realize that today's high is at 5887.... ..so, if there is any pattern, breakout could happen above today's high only... |
Yes this is, |
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psalm
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| Post: #127 Posted: Tue Dec 04, 2012 3:04 pm Post subject: |
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| psalm wrote: |
If you look at the Retail stocks, nothing much is happening there either.....just 2 or 3 rupee move..that too here and there... ....by the way, one biggie which has done reasonably well in the last 2 sessions is Reliance. I believe that Reliance has a lot to say about future direction of the market. The stock is trading just below 820 now. It has significant resistance in the range 825-835....especially around 825-828 range. If the stock can break above this range and sustains there, then there is very good chance of the market to give further breakout. However, if Reliance goes down after testing around 825 or 830, then it will be making a "Head & Shoulder pattern" which if completed, will give levels around 650 or even lower levels....So, it'll be good to watch Reliance as well....  |
Reliance is entering its first resistance range 825-828.....having said that up to 835, it has significant resistance....watch out.. |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #128 Posted: Tue Dec 04, 2012 3:06 pm Post subject: |
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| In my opinion, its very very difficult to play for 20 or 30 points around 5900 levels....initiating positions (LONG or SHORT) around these levels could be risky.....so, be cautious....there could be whipsaws and high volatile moves which could take lot of stops.... |
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psalm
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| Post: #129 Posted: Tue Dec 04, 2012 3:13 pm Post subject: |
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| Another biggie around its resistance is SBI....its around its key resistance range of 2245-2260.....a breakout will give Nifty a lot of support on the upside...but a breakdown to lower levels could put pressure on the index as well.... |
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psalm
Black Belt
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Posts: 5368
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| Post: #130 Posted: Tue Dec 04, 2012 3:20 pm Post subject: |
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| What does this grinding mean??..Accumulation or Distribution???? |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #131 Posted: Tue Dec 04, 2012 3:22 pm Post subject: |
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| psalm wrote: | | What does this grinding mean??..Accumulation or Distribution???? |
We have grinded all of sep and oct, thereafter that ....... |
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psalm
Black Belt
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| Post: #132 Posted: Tue Dec 04, 2012 3:23 pm Post subject: |
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| Bought some 11800 BankNifty PUTs around 81.... |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #133 Posted: Tue Dec 04, 2012 3:24 pm Post subject: |
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| accumulation. |
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psalm
Black Belt
Joined: 12 Nov 2011
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| Post: #134 Posted: Tue Dec 04, 2012 3:24 pm Post subject: |
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| taxmann50 wrote: | | psalm wrote: | | What does this grinding mean??..Accumulation or Distribution???? |
We have grinded all of sep and oct, thereafter that ....... |
Then we'll be grounded.... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #135 Posted: Tue Dec 04, 2012 3:25 pm Post subject: |
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| vinay28 wrote: | | accumulation. |
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