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Nifty View February |
manojkr78
Green Belt
Joined: 07 Mar 2011
Posts: 1014
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Post: #661  Posted: Wed Feb 20, 2013 1:31 pm Post subject: |
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Sam,
Can we also buy infy puts??
Manoj |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #662 Posted: Wed Feb 20, 2013 1:54 pm Post subject: |
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There can be a blast like yesterday if NF touches 5950-5947 range.
May be around 2.30
Lets wait |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #663 Posted: Wed Feb 20, 2013 2:04 pm Post subject: |
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saumya, where had you vanished? 
It may also fall sharply. |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #664 Posted: Wed Feb 20, 2013 2:10 pm Post subject: |
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| vinay28 wrote: | | saumya, where had you vanished? |
Vanished???? 
How can you think so.
I sm very much here, just went out of station and out of market in the mean time. |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #665 Posted: Wed Feb 20, 2013 2:12 pm Post subject: |
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| vinay28 wrote: |
It may also fall sharply. |
Yes it can but IMO it will go up. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #666 Posted: Wed Feb 20, 2013 2:43 pm Post subject: |
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| Today's candle can be like that on 13th Feb. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #667 Posted: Wed Feb 20, 2013 3:16 pm Post subject: |
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| manojkr78 wrote: | Sam,
Can we also buy infy puts??
Manoj |
Manoj, when I said that IT stocks are looking weak, I didn't mean that they'll start going down suddenly. I wont be surprised if they go up slightly higher levels. But initiating fresh longs will be very risky, cos the risk/reward is not that favourable. For example, Infy is trading just below 2820. I won't be surprised if it tests 2880-2890 area in a few days. But going long, hoping for a target of 2890 or so is pretty dangerous here, cos your stoploss will be below the recent lows. Also, if it starts going down, then much lower levels are possible. So, generally speaking, you can initiate a fresh short, if you have a much lower target or can afford slightly higher stoploss. My suggestion is to wait for any fresh weakness or else wait for levels around 2880 to short INFY. I had bought some PUTs of TCS, Tata Motors and a few other stock because I have lot of LONGs. These PUTs are for some kinda protection (hedging). |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #668 Posted: Wed Feb 20, 2013 3:21 pm Post subject: |
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| vinay28 wrote: | | Today's candle can be like that on 13th Feb. |
body will be longer cuz of 25 points gap up and closing near yesterdays close and upper wick will be next to none...
bank nifty will make a bigger red candle on the other hand. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #669 Posted: Wed Feb 20, 2013 3:25 pm Post subject: |
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| saumya is back and so is nifty fut premium back to 20-22 points. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #670 Posted: Wed Feb 20, 2013 3:28 pm Post subject: |
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| apka wrote: | | vinay28 wrote: | | Today's candle can be like that on 13th Feb. |
body will be longer cuz of 25 points gap up and closing near yesterdays close and upper wick will be next to none...
bank nifty will make a bigger red candle on the other hand. |
today's candle reminds me of 26th Nov 2012 candle...so another "bullish kicking" in the offing????....anyway, the stoploss for any SHORT position should be just above today's high....a break above today's high mean maintaining momentum....or may be higher momentum....anyway, let's wait and see what's gonna happen in the next few days.... |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #671 Posted: Wed Feb 20, 2013 3:37 pm Post subject: |
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| vinay28 wrote: | | where had you vanished? |
She was happy just following our brilliant posts, my dear Vinay!
Prakash Holla
Last edited by pkholla on Wed Feb 20, 2013 3:51 pm; edited 1 time in total |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #672 Posted: Wed Feb 20, 2013 3:42 pm Post subject: |
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We have consolidated today. If market wanted could have crossed 5980-6000 NF range in a minute as lot of SLs must be present in this range.
Let's see what happens tomorrow. |
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manojkr78
Green Belt
Joined: 07 Mar 2011
Posts: 1014
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| Post: #673 Posted: Wed Feb 20, 2013 3:46 pm Post subject: |
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Sam,
Your views on shorting CNXIT please.
Manoj |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #674 Posted: Wed Feb 20, 2013 6:26 pm Post subject: |
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| possible HnS in making if close remains here about and starts going down in next 4-5 days |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #675 Posted: Wed Feb 20, 2013 8:34 pm Post subject: |
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| apka wrote: | | possible HnS in making if close remains here about and starts going down in next 4-5 days |
On a larger time frame, you are right but look at the shorter time frame, just NF-feb month chart, you will find an IH&S in formation. Only right shoulder remains to form.
And the right half of IH&S is the left half of H&S. |
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