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Nifty View |
chetan83
Brown Belt
Joined: 19 Feb 2010
Posts: 2036
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Post: #4621  Posted: Wed Aug 15, 2012 12:42 pm Post subject: |
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| ukaushal wrote: | I have accumulated 5300 put @ average rate of 45 & bit confused what to do because in past whenever I squared off my position market rversed from there  :Can anybody advise  |
Buy equal no. of 5400 call as well....I guess if nifty closes abv 5400 or below 5300 will give u profit. |
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ahnikhil
White Belt
Joined: 25 Jul 2011
Posts: 6
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| Post: #4622 Posted: Wed Aug 15, 2012 7:07 pm Post subject: |
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| psalm wrote: | | rohit44 wrote: | | psalm wrote: | | rohit44 wrote: | | 5345.35 was previous high on closing basis ( some 20 25 sessions ago ) ...yest we close abv at 5347.9... so will it indicate strength in mkt dear sam?? |
With each passing day...the strength and sentiments of BEARs (including me) are getting weakened. yesterday's closing was another blow....but we're in for a Make or Break few days....if the market doesn't fall from here for a day or two, I'll have to close ALL my shorts....cos, its like waste of time and money....  ....but again, I'm still hopeful that the market will TANK....  |
k thks sam..i feel 2 3 days false upside now and will break then... fater all olympic bhi over..  .. said once na whenever any big sport event mkt rally or strong but hardly fall.. history repetas again.. now upside all gaps filled..remaining the down ones  ..lets see |
Yup....lets see....looks like the market will go up....17780 in Sensex is the last hope for me now....if its broken, then will cut my SHORTs....and planning to take a break from trading for a few days....have spent a lot of time on this SHORT Trade.... ...u knw... ...now the body and mind need some recharge.... |
Hi Psalm,
I always keep a close eye on this thread because your levels and views are just great.. So have respect for that.
But about your shorts. i dont get it... I was long the whole time and made money.. and your bias is still short even now... Not only your bias but your also shorting!
A quote from jesse livermore, you take position only when markets confirm your direction and not untill then. Like let it take out 5293 on downside and prove us the weakness. No point in shorting until then, however good R:R ]
It doesnt matter if markets start coming down from thrusday , because you were right with direction... But not the timing..
To make money both direction and timing is very important.
Hope you take what i said in right spirit.
Regards |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4623 Posted: Wed Aug 15, 2012 8:19 pm Post subject: |
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| ahnikhil wrote: | | psalm wrote: | | rohit44 wrote: | | psalm wrote: | | rohit44 wrote: | | 5345.35 was previous high on closing basis ( some 20 25 sessions ago ) ...yest we close abv at 5347.9... so will it indicate strength in mkt dear sam?? |
With each passing day...the strength and sentiments of BEARs (including me) are getting weakened. yesterday's closing was another blow....but we're in for a Make or Break few days....if the market doesn't fall from here for a day or two, I'll have to close ALL my shorts....cos, its like waste of time and money.... ....but again, I'm still hopeful that the market will TANK.... |
k thks sam..i feel 2 3 days false upside now and will break then... fater all olympic bhi over.. .. said once na whenever any big sport event mkt rally or strong but hardly fall.. history repetas again.. now upside all gaps filled..remaining the down ones ..lets see |
Yup....lets see....looks like the market will go up....17780 in Sensex is the last hope for me now....if its broken, then will cut my SHORTs....and planning to take a break from trading for a few days....have spent a lot of time on this SHORT Trade.... ...u knw... ...now the body and mind need some recharge.... |
Hi Psalm,
I always keep a close eye on this thread because your levels and views are just great.. So have respect for that.
But about your shorts. i dont get it... I was long the whole time and made money.. and your bias is still short even now... Not only your bias but your also shorting!
A quote from jesse livermore, you take position only when markets confirm your direction and not untill then. Like let it take out 5293 on downside and prove us the weakness. No point in shorting until then, however good R:R ]
It doesnt matter if markets start coming down from thrusday , because you were right with direction... But not the timing..
To make money both direction and timing is very important.
Hope you take what i said in right spirit.
Regards |
Yes, I have taken that advise in the right spirit.....thanks.... |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #4624 Posted: Wed Aug 15, 2012 8:35 pm Post subject: |
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| ahnikhil wrote: | | psalm wrote: | | rohit44 wrote: | | psalm wrote: | | rohit44 wrote: | | 5345.35 was previous high on closing basis ( some 20 25 sessions ago ) ...yest we close abv at 5347.9... so will it indicate strength in mkt dear sam?? |
With each passing day...the strength and sentiments of BEARs (including me) are getting weakened. yesterday's closing was another blow....but we're in for a Make or Break few days....if the market doesn't fall from here for a day or two, I'll have to close ALL my shorts....cos, its like waste of time and money.... ....but again, I'm still hopeful that the market will TANK.... |
k thks sam..i feel 2 3 days false upside now and will break then... fater all olympic bhi over.. .. said once na whenever any big sport event mkt rally or strong but hardly fall.. history repetas again.. now upside all gaps filled..remaining the down ones ..lets see |
Yup....lets see....looks like the market will go up....17780 in Sensex is the last hope for me now....if its broken, then will cut my SHORTs....and planning to take a break from trading for a few days....have spent a lot of time on this SHORT Trade.... ...u knw... ...now the body and mind need some recharge.... |
Hi Psalm,
I always keep a close eye on this thread because your levels and views are just great.. So have respect for that.
But about your shorts. i dont get it... I was long the whole time and made money.. and your bias is still short even now... Not only your bias but your also shorting!
A quote from jesse livermore, you take position only when markets confirm your direction and not untill then. Like let it take out 5293 on downside and prove us the weakness. No point in shorting until then, however good R:R ]
It doesnt matter if markets start coming down from thrusday , because you were right with direction... But not the timing..
To make money both direction and timing is very important.
Hope you take what i said in right spirit.
Regards |
As per my understanding the market is hovering around Sams SL region.Once it crosses that area convincingly, sure he will get out of his shorts .Taking few more shorts near your SL area is common practice among traders for averaging and to get good profits in case market respects resistance and turn around(which happens quite often).In such cases the RR is highly favorable and averaging out exists.loss addition is very small incase SL triggers.
Every one will have there own trading method and if they feel it's flawed they will rectify for them selves.Preaching or advising in such matters is not good and can not be taken in right spirit.
I don't think that there is any need for asking such questions .I feel the questioning it self is not right.
I am sorry to say this ahnikhil |
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ahnikhil
White Belt
Joined: 25 Jul 2011
Posts: 6
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| Post: #4625 Posted: Wed Aug 15, 2012 9:02 pm Post subject: |
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| rk_a2003 wrote: |
As per my understanding the market is hovering around Sams SL region.Once it crosses that area convincingly, sure he will get out of his shorts .Taking few more shorts near your SL area is common practice among traders for averaging and to get good profits in case market respects resistance and turn around(which happens quite often).In such cases the RR is highly favorable and averaging out exists.loss addition is very small incase SL triggers.
Every one will have there own trading method and if they feel it's flawed they will rectify for them selves.Preaching or advising in such matters is not good and can not be taken in right spirit.
I don't think that there is any need for asking such questions .I feel the questioning it self is not right.
I am sorry to say this ahnikhil |
Hi rk_a2003,
have seen some of your posts and have respect to you too..
Yes i agree that market is near a very high resistance area of 5400..
R:R is very good to the downside NOW ..
But i was talking about the time when Psalm was bearish from the time NF was near 5200+ Area. ie after 30th july.
I accept that i have no right in commenting about psalm's system or his current position in market.
Thats the reason i said , take it in the right spirit.
That being said there are others who are following psalm . They may not be following psalms system. Ofcourse Psalms is giving his views and nothing other than that.
Anyways, if Psalm is offended by my posts. Then i apologize to him.
Regards |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #4626 Posted: Wed Aug 15, 2012 9:02 pm Post subject: |
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Hi Sam
I don't know whether I should post this here or not and I spent two days but then decided to post it here for your views/opinion.
Following is the excerpts on nifty analysis from a different source. I am putting the date and time when these views were published
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11.8.12 (12.22 PM)
Now coming to the short to medium term. This minor correction , we are witnessing within this bear market rally has a decent resistance placed close to 5380 area since the falling trendline between 6336 and 5630 comes in close to this area. If this is tackled successfully then the next resistance is placed at 5446 and 5505 and nifty is expected to top out somewhere in this range. In case there is some liquidity gush and if nifty is pushed through the barrier at 5630 then the market will eventually top out close to 5850-5950 before the deep correction begins. The more the market goes up from here, much deeper will be the correction ahead. Picking the top from here on and having a short position in place at the right time will definitely be a delight for the bears. That's it for now. Have a wonderful weekend.
13.8.12 (11.18 AM)
Weekly spot levels to watch for this truncated week:
Support: 5276-5245-5207
Resistance: 5347-5360-5382
P.S: Watch out for Hangseng Index. This will be the first market to crack, which will then indicate weakness globally. Timing it is difficult but for now the top seems to be in place.
14.8.12 (3.50 PM)
Since Nifty has taken out the upper most weekly resistance level, it is now targeting 5505 as mentioned in my weekly market update post. On the way up resistances are placed at 5427- 5446- 5465. 5446 is a very important level to watch for and could pose quite a bit of resistance. Immediate support- 5375-5347.
15.8.12 (12.04 AM)
I feel it is time to start booking profits in nifty on a rally from here. If one is long, then we can have a trailing stoploss at 5347 and close the positions around 5430-5450. If one is having a close watch on the volumes in SP 500, it is moving higher on pitiable volumes which indicates we are losing steam. Markets cannot move higher on hopes alone. Trend reversal is on the cards and it is better to stay on the sidelines with sufficient cash and margin. It is a matter of time before we plunge into the market decisively. Market updates will be posted regularly to help you'll take suitable positions.
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And today Hangseng was down by 240 points (1.19%)
Thanks |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4627 Posted: Wed Aug 15, 2012 9:24 pm Post subject: |
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| ahnikhil wrote: | | rk_a2003 wrote: |
As per my understanding the market is hovering around Sams SL region.Once it crosses that area convincingly, sure he will get out of his shorts .Taking few more shorts near your SL area is common practice among traders for averaging and to get good profits in case market respects resistance and turn around(which happens quite often).In such cases the RR is highly favorable and averaging out exists.loss addition is very small incase SL triggers.
Every one will have there own trading method and if they feel it's flawed they will rectify for them selves.Preaching or advising in such matters is not good and can not be taken in right spirit.
I don't think that there is any need for asking such questions .I feel the questioning it self is not right.
I am sorry to say this ahnikhil |
Hi rk_a2003,
have seen some of your posts and have respect to you too..
Yes i agree that market is near a very high resistance area of 5400..
R:R is very good to the downside NOW ..
But i was talking about the time when Psalm was bearish from the time NF was near 5200+ Area. ie after 30th july.
I accept that i have no right in commenting about psalm's system or his current position in market.
Thats the reason i said , take it in the right spirit.
That being said there are others who are following psalm . They may not be following psalms system. Ofcourse Psalms is giving his views and nothing other than that.
Anyways, if Psalm is offended by my posts. Then i apologize to him.
Regards |
AHNIKHIL,
Each and every person has a method of his own....the risk one can afford will be different...the time-frame one uses will be different....the targets will be different....the trading philosophy will be different.....there is no point in arguing with how they trade.....there will be people who risks 10 points to earn 10....there will also be traders who risks 200 points to earn 500 or 600 points....but i have not objected to the points you have raised as they're valid.....
By the way, here in this thread we a few people come and post what they feel about the market.....you can see that almost all the people except me are bullish about the market......that means they dont care what I do as a trader......I dont give any CALLs here....."TIPs ARE FOR THE WAITERS".....you know that fact better than me, I guess.... ....When you're saying that people here are suffering because of my posts, you're insulting them...insulting their decision making....that means you should stop keeping a close eye on my posts...
NOTE: 5 or 10 members are active in this thread....they contribute this thrad by posting their ideas like me......if THEY or the admin object to what I do here in this thread, I'm ready to stop posting. I mean it.
Regards,
SAM |
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ahnikhil
White Belt
Joined: 25 Jul 2011
Posts: 6
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| Post: #4628 Posted: Wed Aug 15, 2012 9:29 pm Post subject: |
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| psalm wrote: | | ahnikhil wrote: | | rk_a2003 wrote: |
As per my understanding the market is hovering around Sams SL region.Once it crosses that area convincingly, sure he will get out of his shorts .Taking few more shorts near your SL area is common practice among traders for averaging and to get good profits in case market respects resistance and turn around(which happens quite often).In such cases the RR is highly favorable and averaging out exists.loss addition is very small incase SL triggers.
Every one will have there own trading method and if they feel it's flawed they will rectify for them selves.Preaching or advising in such matters is not good and can not be taken in right spirit.
I don't think that there is any need for asking such questions .I feel the questioning it self is not right.
I am sorry to say this ahnikhil |
Hi rk_a2003,
have seen some of your posts and have respect to you too..
Yes i agree that market is near a very high resistance area of 5400..
R:R is very good to the downside NOW ..
But i was talking about the time when Psalm was bearish from the time NF was near 5200+ Area. ie after 30th july.
I accept that i have no right in commenting about psalm's system or his current position in market.
Thats the reason i said , take it in the right spirit.
That being said there are others who are following psalm . They may not be following psalms system. Ofcourse Psalms is giving his views and nothing other than that.
Anyways, if Psalm is offended by my posts. Then i apologize to him.
Regards |
AHNIKHIL,
Each and every person has a method of his own....the risk one can afford will be different...the time-frame one uses will be different....the targets will be different....the trading philosophy will be different.....there is no point in arguing with how they trade.....there will be people who risks 10 points to earn 10....there will also be traders who risks 200 points to earn 500 or 600 points....but i have not objected to the points you have raised as they're valid.....
By the way, here in this thread we a few people come and post what they feel about the market.....you can see that almost all the people except me are bullish about the market......that means they dont care what I do as a trader......I dont give any CALLs here....."TIPs ARE FOR THE WAITERS".....you know that fact better than me, I guess.... ....When you're saying that people here are suffering because of my posts, you're insulting them...insulting their decision making....that means you should stop keeping a close eye on my posts...
NOTE: 5 or 10 members are active in this thread....they contribute this thrad by posting their ideas like me......if THEY or the admin object to what I do here in this thread, I'm ready to stop posting. I mean it.
Regards,
SAM |
Well Sam, Looks like i have been wrong. Sorry for my comments . |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4629 Posted: Wed Aug 15, 2012 9:35 pm Post subject: |
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| saumya12 wrote: | Hi Sam
I don't know whether I should post this here or not and I spent two days but then decided to post it here for your views/opinion.
Following is the excerpts on nifty analysis from a different source. I am putting the date and time when these views were published
-------------------------------------------------------------------------------------
11.8.12 (12.22 PM)
Now coming to the short to medium term. This minor correction , we are witnessing within this bear market rally has a decent resistance placed close to 5380 area since the falling trendline between 6336 and 5630 comes in close to this area. If this is tackled successfully then the next resistance is placed at 5446 and 5505 and nifty is expected to top out somewhere in this range. In case there is some liquidity gush and if nifty is pushed through the barrier at 5630 then the market will eventually top out close to 5850-5950 before the deep correction begins. The more the market goes up from here, much deeper will be the correction ahead. Picking the top from here on and having a short position in place at the right time will definitely be a delight for the bears. That's it for now. Have a wonderful weekend.
13.8.12 (11.18 AM)
Weekly spot levels to watch for this truncated week:
Support: 5276-5245-5207
Resistance: 5347-5360-5382
P.S: Watch out for Hangseng Index. This will be the first market to crack, which will then indicate weakness globally. Timing it is difficult but for now the top seems to be in place.
14.8.12 (3.50 PM)
Since Nifty has taken out the upper most weekly resistance level, it is now targeting 5505 as mentioned in my weekly market update post. On the way up resistances are placed at 5427- 5446- 5465. 5446 is a very important level to watch for and could pose quite a bit of resistance. Immediate support- 5375-5347.
15.8.12 (12.04 AM)
I feel it is time to start booking profits in nifty on a rally from here. If one is long, then we can have a trailing stoploss at 5347 and close the positions around 5430-5450. If one is having a close watch on the volumes in SP 500, it is moving higher on pitiable volumes which indicates we are losing steam. Markets cannot move higher on hopes alone. Trend reversal is on the cards and it is better to stay on the sidelines with sufficient cash and margin. It is a matter of time before we plunge into the market decisively. Market updates will be posted regularly to help you'll take suitable positions.
--------------------------------------------------------------------------------------
And today Hangseng was down by 240 points (1.19%)
Thanks |
Its not fair for me to comment on someone else's opinion.....Saumya.....I have been holding a bearish view from around 5200 levels...I didn't change it even when the market was going down and then now when the markets are going up.....I dont see any reason to be bullish.....the market may still go up because of the liquidity.... but again, that's beyond my understanding... |
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saumya12
Brown Belt
Joined: 21 Dec 2011
Posts: 1509
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| Post: #4630 Posted: Wed Aug 15, 2012 9:39 pm Post subject: |
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| psalm wrote: |
Its not fair for me to comment on someone else's opinion.....Saumya.....I have been holding a bearish view from around 5200 levels...I didn't change it even when the market was going down and then now when the markets are going up.....I dont see any reason to be bullish.....the market may still go up because of the liquidity.... but again, that's beyond my understanding... |
Thanks Sam |
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pkveenu
White Belt
Joined: 21 Apr 2009
Posts: 106
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| Post: #4631 Posted: Thu Aug 16, 2012 9:12 am Post subject: nifty view |
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hi
good morning
psalm
waiting for you with the views
regards |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4632 Posted: Thu Aug 16, 2012 9:26 am Post subject: Re: nifty view |
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| pkveenu wrote: | hi
good morning
psalm
waiting for you with the views
regards |
PKVEENU,
5387, that is yesterday's high is broken. Now, the next resistance is in the range 5402-5405....above that 5425 and 5449 could be tested. I'm planning to exit all of my SHORT position if 17780, Sensex is taken out....the high made as of now is around 17760...but there is every chance that that level will be taken out today itself......Even if it happens, I'm not comfortable going LONG.....cos, I still feel that the market is not going to go up....So, I'm in a dilemma now..the market may just go up and then go down...that's my problem...As per my plan, I should have exited once last week's high(5378) was broken on monday...but I didn't do that because of the uncertainty I have mentioned.....but could exit those shorts soon..if 17780 is taken....that's my last hope.........anyway, I'm not really hopeful now.....This is the view, I have...that means if somebody is holding LONGs, they can hold them with stops...as the market is breaking all the resistances one by one....there is no point complaining now.....anyway, let's wait and see... |
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pkveenu
White Belt
Joined: 21 Apr 2009
Posts: 106
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| Post: #4633 Posted: Thu Aug 16, 2012 9:35 am Post subject: nifty view |
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thanks sam
i still hold my shorts and wait till 5440 ns take out
regards |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #4634 Posted: Thu Aug 16, 2012 9:43 am Post subject: |
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| I won't be surprised to see RIL at 940 corresponding to nifty of 5485/5550 in next few days or at least by august end. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4635 Posted: Thu Aug 16, 2012 9:58 am Post subject: |
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| vinay28 wrote: | | I won't be surprised to see RIL at 940 corresponding to nifty of 5485/5550 in next few days or at least by august end. |
814-817 range is the immediate resistance for the stock...2 or 3 closing above that range....then the stock could head much higher levels....828 will offer some minor resistance. Other than that the stock could find it easy to go up...but again, just a bit more time is needed for confirmation.....there is significant reward to be taken....so, waiting for a confirmation wont be a bad idea....having said that, buying with some tight stop wont be a bad idea either... |
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