iCharts Discussions

[SP50]

[pkholla]

[psalm]

[skd2012]

[psalm]

[Vikas91]

Yes you are not wrong das

[SP50]

[apka]

whats up with DAX 7840.80 +178.89 +2.33%

[SP50]

[skd2012]

Once Dow corrects a bit more, markets will be synchronous. Other wise it has always been a risk for longs. Let's see how far western market corrects. Our market will play more for budget in next 2-3 days I feel.

We can see bounce from 5800-5820 around level? Some upmove is possible for budget play 5880 NF is resistance, but if we are close to this on budget day, then it can cross for 100 points upmove

expiry at lowest point?

[apka]

[satishkadam]

[quote="satishkadam"]

[vinay28]

I would buy now with 5810SL

[psalm]

Have exited most of my high beta longs this morning, holding only a few defencives ones now. Now the situation is such that my hedging has almost become half of my portfolio when exited most of the longs. By the way, I feel that this is not the time to buy anticipating any budget rally. Yes, I do feel now, that trading against the major trend expecting a budget rally for some quick bucks was a bad ploy. Though the market hasn't gone anywhere from 5880 or so. Has been goning up 60 points up or down. But if one look at the individual stocks, hell lot of action was happening there. Many have gone down by more than 25 or 30 % in this 50 or 100 point move which shows the undercurrent of the market. But there could still be some rally, if there is a good budget. But its better to avoid buying as the global markets are looking extremely vulnerable. Europe has already been in a down trend for the last few weeks. It did try to counter that move yesterday only to be sold into. The move in the U.S market could be another signal that some kinda correction is around the corner there as well. Only some miracles can save the markets from some short to medium term correction. 5600-5590 area in the short term and then 5250 or so in the medium term are the ones to look for. On the upside, levels around 6040-6060 could still be possible by next week. But its better to wait for higher levels to sell, rather than buy expecting higher levels. This is what I feel at this point of time.

NOTE: Will initiate Shorts or buy PUTs if we go below 19180-19150 area. Below this range, I wont be surprised to see any sell off. For Nifty the area 5803-5790 is the last line of defence as per my analysis. Below that, I don't see too much support coming in the next 200 points. IT stocks will be my preferred shorting candidates if there is any pullbacks in the next few days. I don't expect too much upside from here. Anyway, let's wait and See.

[apka]