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Reiki999
White Belt
Joined: 08 Feb 2012
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Post: #76  Posted: Mon Feb 04, 2013 3:36 pm Post subject: Hi hello |
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| will u suggest me about tata steel itook long at 405 |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #77 Posted: Mon Feb 04, 2013 3:52 pm Post subject: |
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| psalm wrote: | | taxmann50 wrote: | | psalm wrote: | | If you're a short term trader and are bullish about the market's prospects, then the next 10 or 15 points on the downside could be a buying opportunity with a tight stoploss. If there is some bouncebacks, one might get 80 or 100 points on the upside, I feel.....Having said that one should be careful as well, cos catching a falling knife is always dangerous.... |
Buying with tight stop looks good.  |
If one is looking to initiate some position for tomorrow, that is the only suggestion for me, Taxamann....but again, its risk as well....anyway, initiating shorts doesn't look like a good idea...but if you're already short positionally, then its definitely a HOLD...but wont suggest initiate fresh shorts here...especially today....  |
More down side may be there. I feel if you are buying for holding a few days then better to see weekly candle of this week. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #78 Posted: Mon Feb 04, 2013 3:57 pm Post subject: Re: Hi hello |
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| Reiki999 wrote: | | will u suggest me about tata steel itook long at 405 |
Reiki999,
I have replied to your post in my other thread for the stocks "Individual stocks". Please check it...
Regards |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #79 Posted: Mon Feb 04, 2013 10:52 pm Post subject: |
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Europe deep red
US started with red and turning deep red
What about Indian markets tomorrow. |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #80 Posted: Mon Feb 04, 2013 11:10 pm Post subject: |
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| saumya12 wrote: | Europe deep red
US started with red and turning deep red
What about Indian markets tomorrow. |
about time, all of them were near weekly, monthly, all time high resistences...... Wouldnt make sense for all to cross and go up and no fund house deciding to exit or book profit.
I am expecting 5880-85 this week. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #81 Posted: Mon Feb 04, 2013 11:25 pm Post subject: |
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| apka wrote: | | saumya12 wrote: | Europe deep red
US started with red and turning deep red
What about Indian markets tomorrow. |
about time, all of them were near weekly, monthly, all time high resistences...... Wouldnt make sense for all to cross and go up and no fund house deciding to exit or book profit.
I am expecting 5880-85 this week. |
Both CAC and DAX have given SELL signal in dailies....FTSE might give if there is further selling.....For dow, levels around 13840 is key. If it closes below that today, then expect significant selling pressure tomorrow. Else we might find some support somewhere around 5935-5915 range.....A break below this range could push the market to 5888 or even closer to 5850 in the next day or two....I might cover a few short positions if there is any significant gap down opening....Let's wait and see how asia opens tomorrow... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #82 Posted: Tue Feb 05, 2013 9:53 am Post subject: |
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| There were huge selling in the European and U.S. markets yesterday. European markets are looking pretty vulnerable after yesterday's selling. Another 3 or 4 % selling can be expected from there, if there is another trigger on the downside. To change the situation technically, these markets should witness heavy buying in the next 2 or 3 days. Else, these markets should see reasonable correction. I had mentioned 2 weeks back itself that these markets have completed some kinda SELL setups and could start correcting anytime. May be it has already started. If so, another 10-12 % correction look very much possible there. Talking about our markets, if the uptrend has to continue in our markets, it should sustain above 5950 on a closing basis. If we starts trading below 5950 on a closing basis, then there will be no respite from the selling pressure. Similarly, levels around 5915-5905 could offer support on an intraday basis. A break below this range could accelerate the selling pressure, I feel. The best case scenario for a bull at this point of time is to hold 5915-5905 range on a intraday basis or holding 5950 levels on a closing basis (especially on a weekly closing basis). If these levels are not held, then one might see sub 5700 levels or even sub 5600 levels soon. If we witness any corrections like that, many stocks will see huge cuts. Anyway, its too early to talk about 10-15% cuts. I'm just talking about the possibilities. Anyway, let's wait and see where we'll be at the end of this week. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #83 Posted: Tue Feb 05, 2013 10:04 am Post subject: |
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| Unless witnessed some huge buying, IT stocks are about to crack, I feel...if so, that could add huge pressure on the index....Infy is in the green now...but it can be sold on every rise from here to 2790 or 2800 with a tight stop....the risk-reward is really good....in fact very very good for a SELL.... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #84 Posted: Tue Feb 05, 2013 10:42 am Post subject: |
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| Market may find some resistance in the range 5974-5984....current rate is just below 5970... |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #85 Posted: Tue Feb 05, 2013 11:45 am Post subject: |
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| I guess it will be range bound moves for time being ......we will have to see how it reacts in afternoon...looks weak to me ...but it it hard to fresh short after gap down...over night shorts can be held I think. |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #86 Posted: Tue Feb 05, 2013 1:22 pm Post subject: |
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| What's up now...short covering or whack?? |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #87 Posted: Tue Feb 05, 2013 1:29 pm Post subject: |
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| sw_das wrote: | | What's up now...short covering or whack?? |
I have a feeling that there could a sudden dip towards 5935-5915 area after the Europe opening and then there could be some minor recovery towards the close.....anyway, that's what I feel.... |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #88 Posted: Tue Feb 05, 2013 1:38 pm Post subject: |
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| psalm wrote: | | sw_das wrote: | | What's up now...short covering or whack?? |
I have a feeling that there could a sudden dip towards 5935-5915 area after the Europe opening and then there could be some minor recovery towards the close.....anyway, that's what I feel.... |
Could be. But, as of now Nifty is reluctantly crawling while going down, willingly jumping while going up.
Means while no fresh shorts are added, some short covering happening ....as of now
Last edited by rk_a2003 on Tue Feb 05, 2013 1:42 pm; edited 1 time in total |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #89 Posted: Tue Feb 05, 2013 1:39 pm Post subject: |
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| sw_das wrote: | | What's up now...short covering or whack?? |
6112 -> 5948 our 2-3% down done and world markets down 2-3%... so those not expecting selling pressure today are covering their positons i guess. rest show will continue tomorrow.
thursday is european meet. |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #90 Posted: Tue Feb 05, 2013 1:49 pm Post subject: |
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| Unless some news flow comes in it seems to be short covering more. |
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