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Nifty View February
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Author Nifty View February
psalm
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Post: #91   PostPosted: Tue Feb 05, 2013 1:53 pm    Post subject: Reply with quote
apka wrote:
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.


Till wednesday, there wont be much sensitive data from the U.S or Europe....but on thursday and friday lots and lots of data will be coming out....very sensitive ones....so, till wednesday, there could be some consolidation.....at the same time one should be cautious as well (both on the UP or DOWN).... Smile
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psalm
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Post: #92   PostPosted: Tue Feb 05, 2013 1:58 pm    Post subject: Reply with quote
rk_a2003 wrote:
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


Looking at the way the premium is going up, it looks like some kinda short covering....anyway, we have almost covered the gap created by today's opening....how much more from here? is the question.... Smile
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vinay28
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Post: #93   PostPosted: Tue Feb 05, 2013 2:21 pm    Post subject: Reply with quote
today PMI data from most european countries
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skd2012
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Post: #94   PostPosted: Tue Feb 05, 2013 2:21 pm    Post subject: Reply with quote
More scope is present for premium expansion I feel. but one should trade with usual caution as news flow can disturb things in closing hour.
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SP50
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Post: #95   PostPosted: Tue Feb 05, 2013 2:37 pm    Post subject: Reply with quote
Realty stocks recovered smartly and looking good for another upside.
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psalm
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Post: #96   PostPosted: Tue Feb 05, 2013 2:56 pm    Post subject: Reply with quote
taxmann50 wrote:
Realty stocks recovered smartly and looking good for another upside.


yea, trading realty stocks has been like really frustrating...but now, the thing is clear for DLF; keep an intraday stoploss above last month high (around 279.5)....that's it...if it is taken out, exit...else hold them....that's what my strategy for DLF now.... Laughing
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SP50
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Post: #97   PostPosted: Tue Feb 05, 2013 3:00 pm    Post subject: Reply with quote
psalm wrote:
taxmann50 wrote:
Realty stocks recovered smartly and looking good for another upside.


yea, trading realty stocks has been like really frustrating...but now, the thing is clear for DLF; keep an intraday stoploss above last month high (around 279.5)....that's it...if it is taken out, exit...else hold them....that's what my strategy for DLF now.... Laughing


I got trapped in Unitech in the morning, I had to square off in loss;
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psalm
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Post: #98   PostPosted: Tue Feb 05, 2013 3:07 pm    Post subject: Reply with quote
taxmann50 wrote:
psalm wrote:
taxmann50 wrote:
Realty stocks recovered smartly and looking good for another upside.


yea, trading realty stocks has been like really frustrating...but now, the thing is clear for DLF; keep an intraday stoploss above last month high (around 279.5)....that's it...if it is taken out, exit...else hold them....that's what my strategy for DLF now.... Laughing


I got trapped in Unitech in the morning, I had to square off in loss;


they look really stretched....so, its only a matter of time before we see some corrections in them.....For example, just see how DLF reacts once it starts trading below 260.... Smile ...I very much feel that DLF will test 210-200 range within 2 months...that means more than 20% from current levels... Smile
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vinay28
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Post: #99   PostPosted: Tue Feb 05, 2013 3:15 pm    Post subject: Reply with quote
sam, what if nifty closes above 5950?
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SP50
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Post: #100   PostPosted: Tue Feb 05, 2013 3:15 pm    Post subject: Reply with quote
psalm wrote:
taxmann50 wrote:
psalm wrote:
taxmann50 wrote:
Realty stocks recovered smartly and looking good for another upside.


yea, trading realty stocks has been like really frustrating...but now, the thing is clear for DLF; keep an intraday stoploss above last month high (around 279.5)....that's it...if it is taken out, exit...else hold them....that's what my strategy for DLF now.... Laughing


I got trapped in Unitech in the morning, I had to square off in loss;


they look really stretched....so, its only a matter of time before we see some corrections in them.....For example, just see how DLF reacts once it starts trading below 260.... Smile ...I very much feel that DLF will test 210-200 range within 2 months...that means more than 20% from current levels... Smile


Timing is very important Samji, they are frustrating the shorters psychologically,
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psalm
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Post: #101   PostPosted: Tue Feb 05, 2013 3:25 pm    Post subject: Reply with quote
vinay28 wrote:
sam, what if nifty closes above 5950?


then there is still chance for some recovery, even though the trend is still in danger.....but the bulls can still hang on to that, I feel.....if we hold onto 5915-35 range, there is CHANCE of market testing 6020-6040 again...but again these upmoves could be good opportunities to sell, I feel...if you look at the candles formed in the last 2 weeks, its difficult to be bullish, Vinay...the market is pausing now.....for how long, is another question.... Smile
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psalm
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Post: #102   PostPosted: Tue Feb 05, 2013 3:28 pm    Post subject: Reply with quote
taxmann50 wrote:

Timing is very important Samji, they are frustrating the shorters psychologically,


yea...frustrating the bears has been the main theme for the last few months....but yesterday's move in Europe shows something different....anyway, one will have to be patient though.... Smile
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skd2012
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Post: #103   PostPosted: Tue Feb 05, 2013 3:32 pm    Post subject: Reply with quote
today's candle more like doji?
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saumya12
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Post: #104   PostPosted: Tue Feb 05, 2013 3:33 pm    Post subject: Reply with quote
Today an NR7 day (on daily basis).
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vinay28
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Post: #105   PostPosted: Tue Feb 05, 2013 3:36 pm    Post subject: Reply with quote
I think NS candle is more like a morning star while NF candle is also an inverted hammer.
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