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NIFTY VIEW - November |
apka
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Joined: 13 Dec 2011
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Post: #556  Posted: Thu Nov 22, 2012 9:02 am Post subject: |
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yes sam. although China PMI shows increase in oct as well.. still chinese market is trading subdued.
It was on news somewhere that today TMC will move no trust motion. |
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vinay28
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| Post: #557 Posted: Thu Nov 22, 2012 9:12 am Post subject: |
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| Nifty may not follow global markets in view of start of policy session today in parliament. |
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psalm
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| Post: #558 Posted: Thu Nov 22, 2012 9:14 am Post subject: |
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| apka wrote: | yes sam. although China PMI shows increase in oct as well.. still chinese market is trading subdued.
It was on news somewhere that today TMC will move no trust motion. |
Yesterday, the U.S markets and the Europe almost closed around their resistances. For DAX levels around 7220 could give significant resistance at the same time, for S&P500 1492 will be a key level on a closing basis...so, we're near some key levels. I dont know which way the market is gonna turn....that's why I'm not comfortable holding longs as we approaches resistances of our markets....Anyway, if the above mentioned resistances are broken, those markets could do well...in that case, one might see another test of 5800 levels in our markets as well, I feel....
I dont think people are really worried about the No-confidence motion, as the government will defeat that motion without much probs....but it will be a talking point in the channels today....  |
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pkholla
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| Post: #559 Posted: Thu Nov 22, 2012 9:26 am Post subject: |
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Sam: u must have read that BJP will not support no conf motion. looks like didi will get fantastic collection of 25-30 votes in favor! No body wants early election except this i$i^t. Communists must be laughing all the way to to the voting booths as didi is giving them best wengal back on a platter. a prize must be instituted for stupidity (like ignoble award). Prakash Holla
PS Talking of stupidity, Kasab totally cost India Rs 30 cr when a Rs 100 bullet could have done the job in VT! |
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vinay28
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| Post: #560 Posted: Thu Nov 22, 2012 9:32 am Post subject: |
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| >50 cr prakash |
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psalm
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| Post: #561 Posted: Thu Nov 22, 2012 9:38 am Post subject: |
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| pkholla wrote: | Sam: u must have read that BJP will not support no conf motion. looks like didi will get fantastic collection of 25-30 votes in favor! No body wants early election except this i$i^t. Communists must be laughing all the way to to the voting booths as didi is giving them best wengal back on a platter. a prize must be instituted for stupidity (like ignoble award). Prakash Holla
PS Talking of stupidity, Kasab totally cost India Rs 30 cr when a Rs 100 bullet could have done the job in VT! |
I believe that SP is another one which may not be averse to a short term poll....but even they wont be supporting TMC this time, I feel....
NOTE: This time, Motion will have the other meaning.....(feces) |
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apka
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| Post: #562 Posted: Thu Nov 22, 2012 9:42 am Post subject: |
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right vinay.
surprisingly even yesterday EOD nifty fut shed 1.6 lakh shares and OI reduced to near 139 lakhs... its getting so tiny. |
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pkholla
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| Post: #563 Posted: Thu Nov 22, 2012 9:44 am Post subject: |
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| Sam: You mean she is "loose" and is desperately trying to pass "motion". Very appropriate! Prakash Holla |
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psalm
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| Post: #564 Posted: Thu Nov 22, 2012 9:48 am Post subject: |
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| apka wrote: | right vinay.
surprisingly even yesterday EOD nifty fut shed 1.6 lakh shares and OI reduced to near 139 lakhs... its getting so tiny. |
isn't it so alarming???....cos, it shows people are not ready to have a position(LONG or SHORT) in the market....right??..  |
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SP50
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Joined: 26 Nov 2010
Posts: 1615
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| Post: #565 Posted: Thu Nov 22, 2012 9:56 am Post subject: |
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| psalm wrote: | | apka wrote: | | on my chart we took support again from the earlier trendline from 4800 and have breached the daily falling channel and also closed above it. So we should test 5660-5665 again. |
5650-5665 area look crucial to me as well....the market will face reasonable resistance around 5662-63 I feel...I'll be exiting my Nifty CALLs around those levels if we reach there today......then I'm planning to BUY 5600 DEC PUTs....and 5500 NOV PUTs.....
Similarly, I'll be modifying the stoploss of my BankNifty position to just below 11350...However, if the index breaks above 11515, I'll be modifying again to just below 11425....and if the BankNifty is able to break above 11600 levels, I'll modify it to just below 11500 levels....Having said that, if the index breaks below 11300 (looks really unlikely today), I'll even start Shorting the index...
NOTE: I'm just being cautious here...that's why thinking about exiting my LONGs or initiating SHORTs....I wont be surprised if the market continues this upmove for a few more days....but I'll suggest you to be a bit cautious (BULLs or BEARs).....Let's wait and see how the market goes from here....  |
This is a very nice strategy Samji, I was thinking of similar lines last night and this fort you have thought of building is very perfect,
On the upside as long bank nifty remains positive Nifty will go up.
Last edited by SP50 on Thu Nov 22, 2012 10:02 am; edited 1 time in total |
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apka
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| Post: #566 Posted: Thu Nov 22, 2012 10:01 am Post subject: |
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| apka wrote: | right vinay.
surprisingly even yesterday EOD nifty fut shed 1.6 lakh shares and OI reduced to near 139 lakhs... its getting so tiny. |
for trading yeh, but as such good that it is consolidating since oct beginning. 2-3 months consolidation will be good for setting an upmove if the TLs keep holding. |
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psalm
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| Post: #567 Posted: Thu Nov 22, 2012 10:18 am Post subject: |
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| taxmann50 wrote: |
This is a very nice strategy Samji, I was thinking of similar lines last night and this fort you have thought of building is very perfect,
On the upside as long bank nifty remains positive Nifty will go up. |
I don't know which way the market is gonna go from here,Taxmann...but I don't want this trade to become a loss...that's why thought about modifying the stoploss....by the way, I'm slightly bearish as well.... |
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SP50
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Joined: 26 Nov 2010
Posts: 1615
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| Post: #568 Posted: Thu Nov 22, 2012 10:22 am Post subject: |
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| psalm wrote: | | taxmann50 wrote: |
This is a very nice strategy Samji, I was thinking of similar lines last night and this fort you have thought of building is very perfect,
On the upside as long bank nifty remains positive Nifty will go up. |
I don't know which way the market is gonna go from here,Taxmann...but I don't want this trade to become a loss...that's why thought about modifying the stoploss....by the way, I'm slightly bearish as well.... |
In this situations its always best to go mix and match, be long on strong counters and short on weak counters because we really dont know which way market is going and as we love or hate no one book profits on the counters as and when they come and at the end those add up to handsome profits, one must have a strategy and stick to it to do well. I like your ideas as they match mines and honestly I feel this upmove is a pullback max 5700.
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psalm
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| Post: #569 Posted: Thu Nov 22, 2012 10:29 am Post subject: |
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| taxmann50 wrote: | | psalm wrote: | | taxmann50 wrote: |
This is a very nice strategy Samji, I was thinking of similar lines last night and this fort you have thought of building is very perfect,
On the upside as long bank nifty remains positive Nifty will go up. |
I don't know which way the market is gonna go from here,Taxmann...but I don't want this trade to become a loss...that's why thought about modifying the stoploss....by the way, I'm slightly bearish as well.... |
In this situations its always best to go mix and match, be long on strong counters and short on weak counters because we really dont know which way market is going and as we love or hate no one book profits on the counters as and when they come and at the end those add up to handsome profits, one must have a strategy and stick to it to do well. I like your ideas as they match mines and honestly I feel this upmove is a pullback max 5700.
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 ....cant agree more...its always good to have some kinda hedge....mixing up will do the purpose I feel.... |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #570 Posted: Thu Nov 22, 2012 10:30 am Post subject: |
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| psalm wrote: | | taxmann50 wrote: | | psalm wrote: | | taxmann50 wrote: |
This is a very nice strategy Samji, I was thinking of similar lines last night and this fort you have thought of building is very perfect,
On the upside as long bank nifty remains positive Nifty will go up. |
I don't know which way the market is gonna go from here,Taxmann...but I don't want this trade to become a loss...that's why thought about modifying the stoploss....by the way, I'm slightly bearish as well.... |
In this situations its always best to go mix and match, be long on strong counters and short on weak counters because we really dont know which way market is going and as we love or hate no one book profits on the counters as and when they come and at the end those add up to handsome profits, one must have a strategy and stick to it to do well. I like your ideas as they match mines and honestly I feel this upmove is a pullback max 5700.
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....cant agree more...its always good to have some kinda hedge....mixing up will do the purpose I feel.... |
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