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apka
Black Belt
Joined: 13 Dec 2011
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Post: #226  Posted: Fri Feb 08, 2013 9:35 am Post subject: |
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| vinay28 wrote: | | apka, time to keep watch on 5900PE/6000 and higher CEs |
atm, 6100ce is having a free OI build up as 6000ce was in december and 6200ce in january. |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #227 Posted: Fri Feb 08, 2013 10:28 am Post subject: |
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| sw_das wrote: | small candle NF IB today ?
IT index seems to be at resistance. |
One of the possibilities is that we may remain in 5975-5945 NF range today (inside bar). Mainly two reasons 50 EMA support and Friday (just to eat some premium, nothing much left though). No complain though if it breaks out, chance seems to be less. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #228 Posted: Fri Feb 08, 2013 10:33 am Post subject: |
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Market is trading around 5949 at this poing of time after opening around 5929. The high made as of now is around 5953. For the day, the range 5968-5974 will give significant resistance, I believe. Nifty future is finding resitstance around 5995 levels consistently for the last 3 days or so. On the downside, key support is still around the range 5935-5915, but a dip towards 5897-5888 range during the day cant be ruled out. So, I'll be a bit hesitant to open fresh shorts around 5920-5900 area. Having said that those with positional shorts can continue holding them. They can hold it with a stoploss above 6000 (Nifty Future level) or so on a Closing basis. Today is the end of this week and hence the closing of weekly candle. I'll be looking for a CLOSE below 5950 levels for the continuation of the downtrend which started almost 2 weeks ago. If you're very cautious, then a weekly CLOSE (that means today's close) above 5950 can be your stoploss. If we close below 5950 today, even a bounceback towards 6065-6080 area wont change the trend next week. In that case, a bear wont have to worry too much even if the market tests 6080 or so next week. Anyway, let's wait and see where we'll end up today.  |
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pkholla
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Joined: 04 Nov 2010
Posts: 2890
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| Post: #229 Posted: Fri Feb 08, 2013 10:36 am Post subject: |
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No sign of "apro" Sam?!? Is he gnashing his teeth, made powerless to log on by the KEB?
BTW, this communist paradise, AKA God's own country, officially allows state employees to work just 161 days a year. On their holiday if forced to work they get 2 times pay, on national holiday/ Sunday 3 times pay. Apparently even with this incentive KEB doesnt work! Losses more than equity of Government
Jharkhand has not paid a paisa to Damodar Valley Corp. So Centre will not pay State's share of Central Taxes and divert to DVC! Now we know from where Dhoni learnt to act "shaana" with people who pay him to model!
There is no taker for Planning Commission offer to get banks to fund 50% of SEB losses if state agrees to raise rates and stop free/ stealing.
Jai Hind, Prakash Holla |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #230 Posted: Fri Feb 08, 2013 10:39 am Post subject: |
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| pkholla wrote: | No sign of "apro" Sam?!? Is he gnashing his teeth, made powerless to log on by the KEB?
BTW, this communist paradise, AKA God's own country, officially allows state employees to work just 161 days a year. On their holiday if forced to work they get 2 times pay, on national holiday/ Sunday 3 times pay. Apparently even with this incentive KEB doesnt work! Losses more than equity of Government
Jharkhand has not paid a paisa to Damodar Valley Corp. So Centre will not pay State's share of Central Taxes and divert to DVC! Now we know from where Dhoni learnt to act "shaana" with people who pay him to model!
There is no taker for Planning Commission offer to get banks to fund 50% of SEB losses if state agrees to raise rates and stop free/ stealing.
Jai Hind, Prakash Holla |
Yea....only God knows what's gonna happen in the next few years.....or in the next decade....  |
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vinay28
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Joined: 24 Dec 2010
Posts: 11748
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| Post: #231 Posted: Fri Feb 08, 2013 10:43 am Post subject: |
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| sam, we may also see a weekly close above 5960 |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #232 Posted: Fri Feb 08, 2013 10:47 am Post subject: |
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| vinay28 wrote: | | sam, we may also see a weekly close above 5960 |
5960 or 6000...they wont make any difference to me, if the closing is above 5952, Vinay... |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #233 Posted: Fri Feb 08, 2013 11:03 am Post subject: |
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| Any of you into pair trading? |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #234 Posted: Fri Feb 08, 2013 11:13 am Post subject: |
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| sw_das wrote: | | Any of you into pair trading? |
I don't always opt for pair trades. But in a way, I do that. I do hedge with counter trades. For example, if i have 10 short position, I might opt for 2 or 3 longs. I know its not pair trade. At times, it becomes pair trade. Especially the trades from the same sector. I don't go for pair trade, because its pretty difficult to find the correlation among a pair. Sometimes, I go for LONG in one stock and then another one for SHORT (from the same sector) only because they may be showing different trends not because they're correlated in any way. |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #235 Posted: Fri Feb 08, 2013 12:34 pm Post subject: |
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Banks holding up.  |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #236 Posted: Fri Feb 08, 2013 12:39 pm Post subject: |
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| sw_das wrote: | | sw_das wrote: | small candle NF IB today ?
IT index seems to be at resistance. |
One of the possibilities is that we may remain in 5975-5945 NF range today (inside bar). Mainly two reasons 50 EMA support and Friday (just to eat some premium, nothing much left though). No complain though if it breaks out, chance seems to be less. |
So far so good..It has held up nicely in the range. 2nd half and news flow are two enemies of longs. One must mind it.  Likely to be range bound I feel as of now. |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #237 Posted: Fri Feb 08, 2013 12:40 pm Post subject: |
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| psalm wrote: | | sw_das wrote: | | Any of you into pair trading? |
I don't always opt for pair trades. But in a way, I do that. I do hedge with counter trades. For example, if i have 10 short position, I might opt for 2 or 3 longs. I know its not pair trade. At times, it becomes pair trade. Especially the trades from the same sector. I don't go for pair trade, because its pretty difficult to find the correlation among a pair. Sometimes, I go for LONG in one stock and then another one for SHORT (from the same sector) only because they may be showing different trends not because they're correlated in any way. |
Oh that's nice. I am asking about pair between two stocks or one stock one index or two indices. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #238 Posted: Fri Feb 08, 2013 12:50 pm Post subject: |
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| taxmann50 wrote: | | Banks holding up. |
BankNifty's next major support is not far away from here....its around 12200...that means just a percent or so from here.....may be that's why not much selling happening at this point of time...may be a few traders are trying to do some bargain hunting after the significant correction seen on certain counters.... |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #239 Posted: Fri Feb 08, 2013 12:50 pm Post subject: |
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| taxmann50 wrote: | | Banks holding up. |
sbin icici bank nifty new low everyday, including today. except sbi has corrected 9% and touched 2302 which is good support, if breaches pressure till 2225 will be there. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #240 Posted: Fri Feb 08, 2013 12:53 pm Post subject: |
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| apka wrote: | | taxmann50 wrote: | | Banks holding up. |
sbin icici bank nifty new low everyday, including today. except sbi has corrected 9% and touched 2302 which is good support, if breaches pressure till 2225 will be there. |
yea....I feel the same...if gone down further there is every chance of it testnig 2225 or so.....while 2260-50 area could offer some minor support.... |
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