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Nifty View - Jan 2013 |
vinay28
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Joined: 24 Dec 2010
Posts: 11748
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Post: #136  Posted: Wed Jan 02, 2013 1:34 pm Post subject: |
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| yes, but we have already gone up yesterday thus leading others |
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apka
Black Belt
Joined: 13 Dec 2011
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| Post: #137 Posted: Wed Jan 02, 2013 1:36 pm Post subject: |
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| vinay28 wrote: | | apka, pl check OI of 6000/6200 ce |
6000ce and other in the money calls are shedding OI. but not much qty.
6100ce has added only 50k shares and 6200ce as added about 15 lakh shares intraday total OI above 70 lakhs. 6300ce also added near 10 lakh shares total OI above 50 lakh shares. |
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vinay28
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| Post: #138 Posted: Wed Jan 02, 2013 1:41 pm Post subject: |
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| thanks apka |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #139 Posted: Wed Jan 02, 2013 1:52 pm Post subject: |
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| At least 6000 NF today ? I know it is dangerous to think counter trend!! One can be with TSL in case it decides something else!! |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #140 Posted: Wed Jan 02, 2013 2:53 pm Post subject: |
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it is refusing to go down....so let not force it. 
Only INFY was good trade/ |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #141 Posted: Wed Jan 02, 2013 3:18 pm Post subject: |
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| Exited my BankNifty PUTs....though I have bought the PUTs around these levels in the morning....lot of call writing has taken some premium out of it...so sold at some loss....but holding the 5900 PUTs... |
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rakeshliving
White Belt
Joined: 03 Jan 2011
Posts: 88
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| Post: #142 Posted: Wed Jan 02, 2013 3:29 pm Post subject: |
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6100PE OI 130.45%....
nifty next to 6100 |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #143 Posted: Wed Jan 02, 2013 3:39 pm Post subject: |
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| rakeshliving wrote: | 6100PE OI 130.45%....
nifty next to 6100 |
Unless something dramatic happens...the market looks poised for higher levels, I feel.....that means if someone holding LONGs, its definitely a HOLD.....Having said that one should be careful as well, as some indicators are indicating extreme over-bought levels....anyway, as long as we hold 5870 levels, there is nothing much to worry, I feel....that means the market is some 120 point away from danger...which is good for a bull.... |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #144 Posted: Wed Jan 02, 2013 5:17 pm Post subject: |
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| EOD 6000ce shedded -6.5 Lakh shares... total OI 50 lakh or so... thats a good number being start of the month. |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #145 Posted: Thu Jan 03, 2013 8:23 am Post subject: |
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As long as it keep stretching upside, we have to go along with it. Other wise it is bad for our account. Who knows it might be real breakout ...usually it comes with disbelieve among traders....we need to walk with nimble foot however...shark can attack anytime... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #146 Posted: Thu Jan 03, 2013 10:57 am Post subject: My View |
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Market is trading around 6003 levels after testing a high of 6017 earlier this morning. For the next few days, I expect the market to find resistance in the range 6027-6040. One can look for selling Nifty around that range with a stoploss above 6050 or so. The market is giving gap-up openings and then continues grinding all the way up. Is it bullish? Theoretically, it is a very bullish sign. But if you look at historical data or charts, similar moves (creating gaps continuously without covering them) normally lead the market to some kinda top. So, one must be careful here. Yesterday, Apka was mentioning about all the analysts and traders becoming uber-bullish. This signal also is considered slightly bearish by the investment or trading community. As per another saying, when the Midcaps and Small Caps are outperforming the largecaps, it's time to bookout longs. I have resisted being Bullish for the most part of this rally and I must confess that I have suffered many times because of that. But in the last few days, even I have felt that the market is about to give a huge push on the upside from here. So, I haven't been really aggressive in selling stocks or indices. Was just playing with some PUTs and CALLs. I know that I'm not alone having similar feelings towards the market. But my gut feeling says that we're about to make a top on or before Monday. Though I am expecting the market to make a top in the next 3 days, I'm not expecting the Midcaps and Small caps to stop going up. They could still continue to moves for another 5 or 7 trading days. So, I'll be watching the indices and stocks carefully from here and will be selling a few stocks I'm comfortable selling around current levels. For other stocks or indices, I'll be waiting for further pops or rallies to my comfortable levels to sell. That means I'm expecting some stocks to go up further. But I'm not comfortable buying them. I feel more comfortable selling them at higher levels. Its like waiting for dips to buy the stock. I just wait for pops to sell them. I still expect my targets to be met on the downside for Nifty. Having said that since we've moved above 5965, I don't expect to achieve my target of 5330-5250 range in January easily ( most probably in Feb if there is any fall). But I very much expect the market to test 5600-5550 range to be tested at the least in January.
NOTE: I just wanted to post what I feel about the current market condition. If you were reading this thread continuously, you must be knowing that I have gone horribly wrong many times. That didn't stop me from posting my opinions. Hahaha...Consider this as just another one. But please spend a few seconds to think about what I have mentioned and then follow your own analysis or the gut feeling comes from it.
Regards,
SAM |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #147 Posted: Thu Jan 03, 2013 11:07 am Post subject: |
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the more you go wrong the more money we make! 
J/K
don't fight liquidity. I feel one can buy 6100ce at 6007NF and below. Remember NF closed at 6007.50 on Tuesday and opened at that level yesterday. |
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skd2012
Yellow Belt
Joined: 03 Oct 2012
Posts: 948
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| Post: #148 Posted: Thu Jan 03, 2013 11:13 am Post subject: |
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| hedge with put as well. We can see fall in this month. No confirmation yet though! We have made new high today as well. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #149 Posted: Thu Jan 03, 2013 11:15 am Post subject: |
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| vinay28 wrote: | the more you go wrong the more money we make!
J/K
don't fight liquidity. I feel one can buy 6100ce at 6007NF and below. Remember NF closed at 6007.50 on Tuesday and opened at that level yesterday. |
There are lot of question marks over the above mentioned "LIQUIDITY" now, Vinay......by the way, you have expressed your opinion now....me too expressed mine....you have mentioned (me also) that I had gone wrong many times and that you have made more money because of that.....I'm glad that you've made money.
NOTE: Sometimes back Brazil Coach Scholari mentioned about Pele's comments....it was like this "If you want to win a title, you have to listen to Pele and then do the opposite".....so, similarly, you can read my post....and then do just the opposite....so that you can make money....  |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #150 Posted: Thu Jan 03, 2013 11:23 am Post subject: |
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| like one expert on icharts? |
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