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Dabangg
White Belt
Joined: 15 Sep 2010
Posts: 11
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Post: #4711  Posted: Wed Aug 22, 2012 11:18 pm Post subject: Nifty Trading in Channel |
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| Price rejected the Resistance of the Channel forming a Double Top. Expected to come down till the Support of the channel. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4712 Posted: Wed Aug 22, 2012 11:27 pm Post subject: Re: Nifty Trading in Channel |
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| Dabangg wrote: | | Price rejected the Resistance of the Channel forming a Double Top. Expected to come down till the Support of the channel. |
Yup...so, let's see if there is any breakout...either on the upside or on the downside....  |
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Dabangg
White Belt
Joined: 15 Sep 2010
Posts: 11
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| Post: #4713 Posted: Thu Aug 23, 2012 12:29 am Post subject: Re: Nifty Trading in Channel |
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| psalm wrote: | | Dabangg wrote: | | Price rejected the Resistance of the Channel forming a Double Top. Expected to come down till the Support of the channel. |
Yup...so, let's see if there is any breakout...either on the upside or on the downside.... |
Ohh yeah, that would be interesting to see. Well, the global market is down today so Nifty might Gap Down till the Support level of the channel or may be till 5350. Below that would be dangerous for longs. However, the up trend is still intact.  |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4714 Posted: Thu Aug 23, 2012 9:18 am Post subject: |
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| 5453 and 5468 are the levels, I'll be watching on the upside today....will be adding more PUTs on every upside to 5470 from here.......the options are pretty cheap at this point of time because of lower volatility such as VIX or Implied Volatility.....so, its a good time to trade with options I feel....anyway, let's see.. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4715 Posted: Thu Aug 23, 2012 10:36 am Post subject: |
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| Bought a bit more 5400 PUTs....just around 68........Sold two stocks as well... |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #4716 Posted: Thu Aug 23, 2012 10:40 am Post subject: |
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Samji by any chance r u selling Bharti ?  |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4717 Posted: Thu Aug 23, 2012 10:48 am Post subject: |
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| taxmann50 wrote: | | Samji by any chance r u selling Bharti ? |
I didn't...I have sold Tata Motors and MTNL....
Bharti has considerable support around 230 levels....that's why don't see much returns even if it goes down.....there are a lot of better opportunities......By the way, this is not out and out selling...i'm just initiating a few shorts where the risks are pretty less....if you're ready to take risks there are hell lot of opportunities....especially from the 51 stocks which will be removed from the derivative segment....I see crashes in september.....I wont be surprised to see stocks going down by 10 or 15 % regularly....in the next month.....So, if you're overall bullish, selling a few of those stocks will be a good hedge, I feel.... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4718 Posted: Thu Aug 23, 2012 11:40 am Post subject: |
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| BankNifty has made a high of 10551.85 as of now which almost around the high it made last thursday, 10551. |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #4719 Posted: Thu Aug 23, 2012 11:53 am Post subject: |
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| I want to see 5467/5485 today |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4720 Posted: Thu Aug 23, 2012 12:05 pm Post subject: |
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| vinay28 wrote: | | I want to see 5467/5485 today |
5485 looks difficult TODAY...but 5467 or 5468.... could be possible....though chances are less...anyway, let's see... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4721 Posted: Thu Aug 23, 2012 2:23 pm Post subject: |
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| The market is trading around the lows at this point of time....current rate is around 5402....it has immediate support in the range 5395-5388.....I believe that this range will be held for the day....If broken, then there is chance of it testing 5350..... |
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sachin79
White Belt
Joined: 07 May 2011
Posts: 55
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| Post: #4722 Posted: Thu Aug 23, 2012 2:26 pm Post subject: |
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| as expected nifty tgt was 5450-5470..made a high of 5448 n revered..stil mirror 2011 theory holds..v r heading for 400 pts cut..fast n crash.. |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4723 Posted: Thu Aug 23, 2012 2:32 pm Post subject: |
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| Capital Goods, Oil and Gas are dragging the markets down.....while IT is the one which is holding from further downside... |
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psalm
Black Belt
Joined: 12 Nov 2011
Posts: 5368
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| Post: #4724 Posted: Thu Aug 23, 2012 2:37 pm Post subject: |
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| Broken below yesterday's low....let's see if we'll be able to hold 5288-5287 levels or so...if not there is good chance of testing 5350 levels... |
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Dabangg
White Belt
Joined: 15 Sep 2010
Posts: 11
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| Post: #4725 Posted: Thu Aug 23, 2012 2:38 pm Post subject: Re: Nifty Trading in Channel |
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| Dabangg wrote: | | Price rejected the Resistance of the Channel forming a Double Top. Expected to come down till the Support of the channel. |
This is what i call move..... Move of SHAKIRA
this kind of move arouses something internally  am loving it |
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