iCharts Discussions

[apka]

what does this news mean:

----(Reuters) - The Reserve Bank of India will take measures to address liquidity deficit if the shortage persists, said H.R. Khan, the central bank's deputy governor.

Khan was speaking on the sidelines of the Asian Financial Cooperation Conference on Tuesday. He added the central bank can go for open market purchases of bonds if needed.

Liquidity has tightened in the banking system and is beyond the RBI's stated comfort zone, mainly due to the slow pace of government spending.

Banks have been borrowing more than one trillion rupees daily through the RBI's repo window since the last nine sessions.---

[SP50]

[apka]

i did not understand deficit in liqduity due to slow pace spending by govt ?

[vinay28]

because of low spending, money is remaining in govt. hands and not going to market.

[vinay28]

[vinay28]

Bow Tie Pattern

Whenever 3 different SMAs converge (they look like a bow tie), price gives a big move. See nifty daily chart attached. This time they are converging again BUT, for a change, 10 sma has crossed below 20, which in turn has crossed below 50 sma. So unless nifty moves up sharply very soon, we may see a major downmove.

[skd2012]

I guess steep fall or strong breakout is on the way. However 5800 call 5700 put has total premium of 115 odd today. It is very tempting to buy them and sit tightly. At the same time it suggests we have next a few days range bound. 5700 nov put at 1-2 rs can be interesting bet on expiry day?

Nifty weekly suggests sell off after some days!

[psalm]

I have exited the LONGs I were holding as the market has reached my target of 5750 levels....I'm still holding my SHORTs....didn't exit them as planned....Now, I'm thinking about going SHORT from higher levels as I feel there wont be much upside from here....and above all, my long term stoploss is just 50 or 60 points away from current levels....so, holding my SHORTs...while exiting LONGs...Let's wait and see....

[psalm]

Sold BankNifty again now...around 11725...

[psalm]

Bought Nifty 5700 DEC PUTs again...around 42 now... ...have enough PUTs now, I guess...anyway, will be buying again on every rise up to 5815.... ...let's wait and see...

[apka]

2 days back 5700ce had a low of below 7, now its 77.. what a turn around. vinay u had mentioned quick upmove needed and it has come.

earlier when 5630 break, it went down 47 points and recovered, then 5730 broke and we went above 47 points and retreated.

after that it it went down by 34 points more and recovered, so if we add 34 points to 5777 comes to 5811, if maths works.

[psalm]

Sold BankNifty again around 11760....now the cost of my position is around 11690....The market has broken above the recent high of 5777...but still below 5815....Tomorrow is the weekly, monthly closing day.....so, expect some swings....don't know which way it is gonna be....on the UP or DOWN... ....let's wait and see...

[SP50]

Buying 5700 Dec puts looks safe, I am accumulating it along with select longs,
Very smart move and this is where you need to keep ur head.

[vinay28]

apka, vatsa, your number will come!

[psalm]