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NIFTY VIEW - November
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NIFTY VIEW - November

apka
Black Belt

Joined: 13 Dec 2011
Posts: 6137

Post: #316

Posted: Fri Nov 16, 2012 9:23 am Post subject:

vinay28 wrote:

whichever way I drew the chart, I wasn't getting it.

what level are you getting for today closing basis?

vinay28
Black Belt

Joined: 24 Dec 2010
Posts: 11748

Post: #317 Posted: Fri Nov 16, 2012 9:33 am Post subject:

much higher at about 5686

apka
Black Belt

Joined: 13 Dec 2011
Posts: 6137

Post: #318

Posted: Fri Nov 16, 2012 9:41 am Post subject:

vinay28 wrote:

much higher at about 5686

o wow, can anybody else also check what they are getting?

rk_a2003
Black Belt

Joined: 21 Jan 2010
Posts: 2734

Post: #319

Posted: Fri Nov 16, 2012 9:51 am Post subject:

apka wrote:

vinay28 wrote:

much higher at about 5686

o wow, can anybody else also check what they are getting?

5620

SP50
Brown Belt

Joined: 26 Nov 2010
Posts: 1615

Post: #320 Posted: Fri Nov 16, 2012 10:13 am Post subject:

Open is the low today for the market as of now,

apka
Black Belt

Joined: 13 Dec 2011
Posts: 6137

Post: #321

Posted: Fri Nov 16, 2012 10:38 am Post subject:

rk_a2003 wrote:

apka wrote:

vinay28 wrote:

much higher at about 5686

o wow, can anybody else also check what they are getting?

5620

man 3 different charts, 3 different levels.

satishkadam
Yellow Belt

Joined: 01 Apr 2010
Posts: 805

Post: #322

Posted: Fri Nov 16, 2012 10:47 am Post subject:

apka wrote:

As per below chart, require friday's closing above 5608. A close below it breaks the closing basis rising weekly trendline. A break below it would mean nifty will need to consolidate and find a new channel.

Confusion in trend continues because:

[2] FNO suggests bearish build up, more writing in calls, and shedding of OI in puts. Even nifty fut shedded OI today after adding +12 lakh shares intraday, EOD it was -13 lakh shares. Total nifty OI dropped to a very low 1.69 cr shares.

[3] But, on the other hand DOW, DAX, EURO are having positive divergence built since last 10 days or so and have somewhat corrected 7-10%. Plus INR appreciated in the end today from 55 levels to 54.70-80. So, there is good chance world market starts recovering from tomorrow / next week.

[4] However, VIX after making weekly inverted hammers, has risen to 16-17 levels as expected and mostly calls are seeing premium in both stocks and nifty with good build up in calls. So, it would make sense to utilize the premium by creating a fall and eating it.

Looks like.. market will go down................its not able to sustain... FII have also slowed down... money pumping............

Thanks
Satish

psalm
Black Belt

Joined: 12 Nov 2011
Posts: 5368

Post: #323

Posted: Fri Nov 16, 2012 10:47 am Post subject:

taxmann50 wrote:

Open is the low today for the market as of now,

The market is trading around 5643 now after making a high around 5646. For the day, as long as the market remains below yesterday's high, there wont any momentum on the upside. One can even take this hour's high or yesterday's high as stoploss and then sell it, I feel. If the high is broken, then there is good chance of it testing 5675-5680 or even 5700 levels. On the downside, levels around 5626 is the immediate support below that the lows or even 5590 could be tested. A break below yesterday's low could add fuel to the selling. So, my suggestion will be to exit any existing LONGs if yesterday's low (5603) is taken out.

SP50
Brown Belt

Joined: 26 Nov 2010
Posts: 1615

Post: #324

Posted: Fri Nov 16, 2012 10:53 am Post subject:

psalm wrote:

taxmann50 wrote:

Open is the low today for the market as of now,

Samji how is the Bank Nifty shaping up? the expectation of rate cut has slowed down for now as it seems or is it waiting for another upward move soon.

psalm
Black Belt

Joined: 12 Nov 2011
Posts: 5368

Post: #325

Posted: Fri Nov 16, 2012 11:07 am Post subject:

taxmann50 wrote:

Samji how is the Bank Nifty shaping up? the expectation of rate cut has slowed down for now as it seems or is it waiting for another upward move soon.

BankNifty is one of the few indices which could do well in the near term. The index hasn't given any short term sell signal yet. So, I wont be surprised if there is another burst on the upside before any serious selling. The index was under pressure after the result of SBI, but hasn't broken down completely yet. In the very short term the index may be under pressure if it breaks below 11400 levels and trades below there on a sustainable basis. In that case, the recent lows of 11100 could be tested. However, major support for the index is around 10700 levels. On the upside, the index has reasonable resistance in the range 11550-650 range....only a break above that will indicate further buying pressure. Considering the overall bearishness I have for the market, I'll suggest to sell the index below 11400. However, if somebody is bullish about the index and wants to buy it, my suggestion will be to have a stoploss below 11400 or at least around 11300.

NOTE: The chance for a rate cut now is very high considering the low growth numbers and lower inflation figures. Will these factors be enough for a rate cut??...only time will tell... Rolling Eyes

pkholla
Black Belt

Joined: 04 Nov 2010
Posts: 2890

Post: #326 Posted: Fri Nov 16, 2012 11:18 am Post subject:

Sam: in addition, chiddu has promised all support to banks including more oxygen, vitamin tablets and energy drinks to re- capitalize. Also looks like 'Bevda- Casanova' is being arm twisted to contribute some more and save KFA from becoming NPA in bank books( at least till March 2013). So I, for one, am bullish on BNF. Cheers, Prakash Holla

psalm
Black Belt

Joined: 12 Nov 2011
Posts: 5368

Post: #327

Posted: Fri Nov 16, 2012 11:23 am Post subject:

pkholla wrote:

Sam: in addition, chiddu has promised all support to banks including more oxygen, vitamin tablets and energy drinks to re- capitalize. Also looks like 'Bevda- Casanova' is being arm twisted to contribute some more and save KFA from becoming NPA in bank books( at least till March 2013). So I, for one, am bullish on BNF. Cheers, Prakash Holla

Can't blame anyone if somebody is bullish or bearish about BNF...cos, its a mixed bag.....For the optimist Bull, its a BUY as the rate cut is around the corner....but a bear might argue that a rate cut is already factored in by the market....anyway, let's wait and see how the market reacts if there is a rate cut in the coming days.... Smile

vinay28
Black Belt

Joined: 24 Dec 2010
Posts: 11748

Post: #328 Posted: Fri Nov 16, 2012 11:24 am Post subject:

I won't be surprised if rate cut comes sooner than jan also

SP50
Brown Belt

Joined: 26 Nov 2010
Posts: 1615

Post: #329

Posted: Fri Nov 16, 2012 11:25 am Post subject:

pkholla wrote:

I think this Mcdowell and Diago deal will help to bring in some cash into KFA just to start off operation as many people r saying now., I dont know how this is possible but be Mar13 or Mar 14 its difficult for KFA to get airborne again unless KFA is bought out outright as I feel.
New Banking liscences to be issued so that these bad loans can be transferred to these new ones against capital raised from public... how about it the new liscence with a clause to lend more to KFA and take over the bad KFA loans from SBI ect?

vinay28
Black Belt

Joined: 24 Dec 2010
Posts: 11748

Post: #330 Posted: Fri Nov 16, 2012 11:29 am Post subject:

I wonder who will take over casanova's harem!

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