iCharts Discussions

[amitagg]

What's the significance of 8433 number ( amongst the plethora of numbers that you usually post) ... If u would like to disclose!

[vinay28]

[vinay28]

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Tuesday (15/11/16) and beyond

Supports are at about 8262/29, 8167 and 8125 while resistances are at about 8350/59, 8415/72/80 and 8491. 200 dsma/dema are at about 8123/8327 resp. and 50 wsma/wema are at about 8065/8278. Unfilled gaps on higher/lower sides are at about 8526/7748. (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 8250 and 7865 (-WWs with lower targets are not mentioned as of now).

Nifty opened up with a big gap and tanked to close strongly -ve below 8300 and below 200 dema but above 50 wema. Daily candle is a bearish piercing Marubuzo with good -ve volume. Also, weekly candle is bearish with good -ve volume. Hence, lower levels are likely. Nifty must close above 8434 to begin with while a close below 8270 can cause further fall. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term.

[vinay28]

I will be away from 13/11 to 21/11. so no posts till then.

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Tuesday (22/11/16) and beyond

Supports are at about 7905, 7890/50 and 7790 while resistances are at about 7990, 8020/60 and 8140. Unfilled gap on lower sides is at about 7748. Two +WWs can give about 8160 (if above 7993) and 8255 (if above 8005) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7880 and 7170 (if below 8030) (-WWs with lower targets are not mentioned as of now).

Nifty opened gap up but tanked to close strongly -ve above 7900, lowest close after 24/5/15. Daily candle is a big, bearish Marubuzo but volume is not strong -ve. Nifty is highly oversold (RSI is at its lowest level since Aug '11) and hidden bearish div is very strong and intermediate bottom seems to be close. Nifty fell >11% from a high of 8969 and, based on historic data, I sense much more fall (21-28% of 8969) albeit after a vicious 250-550 recovery. A close below 7900 can cause more pain. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term.

See chart attached.

[ragarwal]

Is this a strong positive divergence Vinay?

[vinay28]

[ragarwal]

Thanks Vinay:)

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Wednesday (23/11/16) and beyond

Supports are at about 7980/56/29/16/00 and 7888 while resistances are at about 8040/52/75 and 8145. Unfilled gap on lower sides is at about 7929. Three +WWs can give about 8170 (if above 7986) and 8280/8396 (if above 8068) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7880 and 7170 (if below 8035) (-WWs with lower targets are not mentioned as of now).

Nifty opened up with a big gap, fell a bit but recovered sharply later to close +ve just above 8000. Daily candle is a hammer cum inside bar cum bullish Harami with strong +ve volume. This and the oversold nifty may give higher levels. However, the strong hidden bearish div can give much higher levels only if sustained buying resumes. Nifty fell >11% from a high of 8969 and, based on historic data, I sense much more fall (21-28% of 8969) albeit perhaps after a vicious 250-550 recovery. Nifty must close above 8109 to begin with while a close below 7929 can cause more pain. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term.

[vinay28]

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Thursday (24/11/16) and beyond

Supports are at about 8015/08, 7998/80/33/14, 7890 and 7880 while resistances are at about 8068/75, 8110 and 8140. Unfilled gap on lower sides is at about 7929. Three +WWs can give about 8193/8218/75 (if above 7960) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 7925 (if below 8071), 7885 and 7280 (-WWs with lower targets are not mentioned as of now). A HnS can give about 7450 if nifty sustains below 8000.

Nifty opened up with a big gap, fell again but recovered later to close -ve above 8000. Daily candle is again a hammer and is inside Monday's candle with good +ve volume. This and the oversold nifty may give higher levels. However, the strong hidden bearish div can give much higher levels only if sustained buying resumes. Nifty fell >11% from a high of 8969 and, based on historic data, I sense much more fall (21-28% of 8969) albeit perhaps after a vicious 250-550 recovery. Nifty must close above 8109 to begin with while a close below 7929 can cause more pain. Global and local eco-geo-political events and liquidity can have a bearing on how nifty moves in short term. Trade carefully being an expiry day.

[riteshucha]

Hii vinay,

a query, a friend sold a deep ITM stock option and now the prices are quoting way above the sell price
1. should that person now cover the option or let it expire
2. Sell the Future and lock your losses and let both expire
3. How is the stt calculated, meaning to ask is whether letting it expire and paying higher stt would be cheaper than actually covering the shorted puts

ritesh

[vinay28]

[apka]

you see ITM option closing at discounts after 3pm? Sometimes over 10-15 points.. that's because of the heavy STT charge.

I once saw at expiry ITM xxxxCE and xxxxPE totalling to 85 or so instead of 100 points... I thought why not earn the 15 points showing as discount, is this an opportunity. And then I was advised by someone the same thing which Vinay has said.

[apka]

Example from this Expiry:

7900CE LTP - 54.50
8000PE LTP - 26.00
-------------------------
Total = 80.50
-------------------------

Discount of 19.50 points!