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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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Post: #451  Posted: Thu Feb 14, 2013 2:41 pm Post subject: |
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| psalm wrote: | Don't dare to SELL and HOLD unless you've a huge target on the downside, I feel.....if you're target is just 60 or 70 points on the downside, then better be on the sidelines....cos, the market is around its previous lows (on a closing basis, the low made recently is around 5898)....yea, I can understand if you're not comfortable buying here...but if you're not comfortable buying, better be on the sidelines, I feel....that's what I feel....that's my gut feeling....  |
Below 5900 close opens up the door further, |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #452 Posted: Thu Feb 14, 2013 2:44 pm Post subject: |
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NF makes a new low...and the down trend continues... 
As suspected we broke 5900 NF. |
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Vikas91
White Belt
Joined: 28 Nov 2012
Posts: 140
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| Post: #453 Posted: Thu Feb 14, 2013 3:01 pm Post subject: |
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| NF looks took support at 5890 for the day.Lets wait and watch |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #454 Posted: Thu Feb 14, 2013 3:36 pm Post subject: |
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Market is looking very fragile. But tomorrow could be the day which could decide where we'll be heading to. We could test 5860 tomorrow. But the internals are not displaying a rosy picture at this point of time. I have bought a lot (both futures and options) hoping for a bounceback. Will wait tomorrow to decide what to do on my positions. Has bought a few PUTs as a hedging. Let's wait and see where we'll by the close of tomorrow. I'll still be looking to BUY tomorrow. But if the selling doesn't stop towards the close, then I will be forced to exit my positions....Fingers crossed...  |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #455 Posted: Thu Feb 14, 2013 3:46 pm Post subject: |
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| sw_das wrote: | Look at tatasteel and SAIL, it appears to me they will give bounce today max by tomorrow. Just a bounce!!
True Tax, in hourly chart I see icicibank and hdfcbank both are sell mode. |
Both tatasteel and SAIL bounced!! |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #456 Posted: Thu Feb 14, 2013 4:10 pm Post subject: |
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| sam, unless it makes a double bottom around 5880, 5815 is possible, which is also the high on 6/10. |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #457 Posted: Thu Feb 14, 2013 4:14 pm Post subject: |
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| sw_das wrote: | | sw_das wrote: | Look at tatasteel and SAIL, it appears to me they will give bounce today max by tomorrow. Just a bounce!!
True Tax, in hourly chart I see icicibank and hdfcbank both are sell mode. |
Both tatasteel and SAIL bounced!! |
One apology I got HDFCBANK data wrong (till yesterday), I gave it wrongly. Only ICICIBANK was in sell mode. Sorry about that. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #458 Posted: Thu Feb 14, 2013 5:08 pm Post subject: |
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| vinay28 wrote: | | sam, unless it makes a double bottom around 5880, 5815 is possible, which is also the high on 6/10. |
Had a look at the charts again, after the closing value adjustments....the picture still look rosy (had a different opinon at the time of market closing, but not now)..... ....Having said that, we shouldn't close below 5880 from here....A close above 5900 will be perfect for tomorrow...In that case, your prediction of 200 points could be very much on the cards.... ...anyway, let's hope for the best while expecting the worst... |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #459 Posted: Thu Feb 14, 2013 5:31 pm Post subject: |
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| LT broke its 200DMA, SBIN just about bounced from its 200DMA. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #460 Posted: Thu Feb 14, 2013 6:05 pm Post subject: |
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| Looks like "hidden bullish" divergence is more powerful than a bearish -ve div. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #461 Posted: Thu Feb 14, 2013 7:10 pm Post subject: |
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| vinay28 wrote: | | Looks like "hidden bullish" divergence is more powerful than a bearish -ve div. |
yes, because of the uptrend. had it been downtrend then pos div takes time to act also. |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #462 Posted: Thu Feb 14, 2013 8:16 pm Post subject: |
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What I feel even if it tries to bounce once close to 6000, it would not be s bullish scenario. On the other hand it can try to hit 5800 in next a few days I think. 5900 put has highest OI, so one must use some hedged technique, in case want to be short. Over all range bound situaion, but chartically down trend is on.
Over all 200 dma correction would not be bad. We rallied for long time. So healthy correction can not be ruled out over months. Crash will be difficult i feel. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #463 Posted: Fri Feb 15, 2013 9:26 am Post subject: |
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| bought 5900 CALLs a while back...around 55....will be adding again, if goes down further.... |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #464 Posted: Fri Feb 15, 2013 9:35 am Post subject: |
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We can see a bounce? provided 5880 NF holds on.
We must have clear understanding of trend. We have made new low, so it confirms we are in down trend still. |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #465 Posted: Fri Feb 15, 2013 9:46 am Post subject: |
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| psalm wrote: | | bought 5900 CALLs a while back...around 55....will be adding again, if goes down further.... |
Samji what should be the stoploss for this? |
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