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ajayhkaul
Yellow Belt
Joined: 18 Jun 2009
Posts: 866
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Post: #31  Posted: Wed Dec 21, 2011 3:48 pm Post subject: |
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| Good one psalm... keep posting |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #32 Posted: Wed Dec 21, 2011 7:39 pm Post subject: |
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Ajay, I too dream! 
But yes, you are right. No wild dreams. |
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ajayhkaul
Yellow Belt
Joined: 18 Jun 2009
Posts: 866
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| Post: #33 Posted: Wed Dec 21, 2011 7:59 pm Post subject: |
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| News driven markets ....21.12.2011....U.S. stocks are modestly lower ahead of the bell, despite data showing record lending by the European Central Bank (ECB). Earlier, futures were pointed higher on news that the ECB loaned 489 billion euros to 523 banks for an average of three years, marking the central bank's heftiest infusion of credit in the history of the euro zone. However, a lackluster earnings showing from tech titan Oracle (ORCL) is helping to rain on the bulls' parade, with the major market indexes set to pare a portion of yesterday's advance. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #34 Posted: Wed Dec 21, 2011 8:16 pm Post subject: Existing Home Sales Data |
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| U.S. Existing Home Sales Data will be coming at 8.30....That also will influence the trading floor. Investors will be hoping that they show similar growth to the Starts and Permits figures announced yesterday. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #35 Posted: Thu Dec 22, 2011 8:42 am Post subject: Nifty Outlook |
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U.S. indices ended just flat. Asian Markets are flat to negative following a similar trend overnight in US. SGX Nifty futures are down 40 points at 4,681, indicating a negative opening in the domestic market. The levels, 4635-4625 area will provide the support for the market. At the same time, 4713 and 4770 will offer resistance for the day.
Even after the Pullback rally yesterday, I feel that the safest way to trade in this market is it to go SHORT as the overall trend is still DOWN. Lots and Lots of Shorting opportunities are out there. At the same time, one cant rule out any short term trend reversal. However, I couldn't find enough things to validate that view. That's the reason why I still want to be a seller, rather than a buyer. You people, might not agree with me...Let's see how the market pans out today. I expect volatile moves.
Happy Trades!!!!!!! |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #36 Posted: Thu Dec 22, 2011 8:49 am Post subject: |
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| At least for today, be careful about your SL on your shorts, psalm if you are worried that a reversal may be on but are not sure about it. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #37 Posted: Thu Dec 22, 2011 9:01 am Post subject: |
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| Yes, Vinay....I'll cut my Shorts if i feel that there is a trend reversal happening. I have a 4715 stop-loss (Spot level). Though there is another resistance around 4760/70, i wont be waiting for that....I'll cut my shorts if 4715 (spot) is broken today. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #38 Posted: Thu Dec 22, 2011 3:29 pm Post subject: |
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| SL got triggered with my Nifty SHORTs. Hope you LONG guys had a good day.....It was a wonderful bounce back from the support... |
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ktpillai
White Belt
Joined: 23 Nov 2007
Posts: 95
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| Post: #39 Posted: Thu Dec 22, 2011 3:41 pm Post subject: |
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| psalm wrote: | | SL got triggered with my Nifty SHORTs. Hope you LONG guys had a good day.....It was a wonderful bounce back from the support... |
I think the reflex point is 4677The sl should be arond this point and you should have reversed the trade. to avoid loss |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #40 Posted: Thu Dec 22, 2011 3:51 pm Post subject: |
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My SL was modified to 4680 once the market touched my support levels. So, i didn't have any loss from the trade. By the way, I was not interested in opening a LONG. I'll be thinking about shorting the market next week. If i'm shorting the market tomorrow, I'll have to carry it for the next week. Thats y i'm eyeing next week.
" I'm still very much a BEAR....."  |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #41 Posted: Fri Dec 23, 2011 1:55 pm Post subject: |
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| psalm wrote: | | Yes, Vinay....I'll cut my Shorts if i feel that there is a trend reversal happening. I have a 4715 stop-loss (Spot level). Though there is another resistance around 4760/70, i wont be waiting for that....I'll cut my shorts if 4715 (spot) is broken today. |
Now, I feel like... i should have waited for 4760-70 levels to exit the shorts!!!  ...The market came down twice while trying to clear this area. However, the overall mood in the market is not DOWN yet. Unless that changes, one shouldn't sell NIFTY, i guess. For positional traders, these pullbacks are opportunities to add more SHORT positions. If 4760/70 is broken, one can expect the Nifty at around 4830 levels. However, if it goes down, more and more people will start taking profits. This will push the market down again. It's a Wait and Watch game as of now. Let's see...
Last edited by psalm on Fri Dec 23, 2011 2:27 pm; edited 1 time in total |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #42 Posted: Fri Dec 23, 2011 2:12 pm Post subject: |
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| may be you will get the chance to short today |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #43 Posted: Fri Dec 23, 2011 2:26 pm Post subject: |
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| I wont be shorting NIFTY today cos I don't want to hold the SHORTs during this weekend. However, I have a few positional PUTs with me. Also, I have shorted a few stocks. That's enough for the day, I guess..... |
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ajayhkaul
Yellow Belt
Joined: 18 Jun 2009
Posts: 866
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| Post: #44 Posted: Fri Dec 23, 2011 2:35 pm Post subject: |
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| psalm wrote: | | I wont be shorting NIFTY today cos I don't want to hold the SHORTs during this weekend. However, I have a few positional PUTs with me. Also, I have shorted a few stocks. That's enough for the day, I guess..... |
yeah good position... why ruin your weekend ? |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #45 Posted: Fri Dec 23, 2011 2:45 pm Post subject: |
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Ajay,
I'm SHORT of ideas today, regarding Nifty....That's the reason why i have decided against having any positions.....By the way, its always good not to have any positions.....LOL...
The days of Bears might be numbered. But, at least for another month from here, BULLS BETTER HIDE....  |
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