iCharts Discussions

[psalm]

We all should smile at the end, I feel. I mean we should all make profits out of our investments or trades. Looking at the Overall market, I feel that the market is more prone to another sell off, rather than buying. At the same, i'm a bit confused too....i mean thinkin abt the year end NAVs and Fund managers....

[vinay28]

You know psalm, good traders will make money either way. But a good market is an indicatorof a healthy economy. So in the long run, if the market goes up, it will indicate that we doing well.

For that matter, I have also calculated a worst case value of nifty of 2894. That's horrible.

[psalm]

I agree with you. In my view, 2950 should hold.

[vinay28]

Hopefully, we don't go much below 4690 today

[psalm]

4680-4660 (spot levels) is the area i'm watching today, for the support. If the market goes below 4660, I'll change my stop-loss to 4710.

[psalm]

I'm modifying the Stop-Loss of my Short positions to 4760(spot) now. I thought of placing it around 4731 levels at first, but decided against it. However, I will be changing it to 4715 if nifty makes a new Low today. The market will get weaker and weaker as long as it trades below 4710. At the same time, if it closes above 4740, then an up-move cannot be ruled out in the next 2 days. But I strongly believe that this market is going to see lower levels in the days to come.

[vinay28]

Careful. There is an accumulation going on in 4700 call option

[psalm]

Yes, I'll be careful. I have my Stop-Loss at 4761 now. . Also, I'm watching 4731. It will offer some resistance now, I believe.

[vinay28]

within 10 min, change in 4700 call increased from -38% to -23%

[satishkadam]

[psalm]

4731 was held as expected. So, I'm changing my Stop-loss to 4731 now. The last move was just a trap, I guess. By the way, I am seeing a lot of unwinding in the Nifty PUTs than in the CALLs.

[vinay28]

true. There is a short unwind in 4400, 4700 and 4800 puts and long unwind in 4500 and 4600 puts. But now 4600 to 4800 calls are having short buildup. Very volatile, also could be because of expiry tmrw

[psalm]

Looks like it will be an interesting Expiry tomorrow. I'm expecting the volatile moves on Friday too. Let's see how the market pans out tomorrow.

[psalm]

I'm maintaining my negative View about nifty. I expect the market to go down to 4600 levels today. I'm having a Stop-loss of 4731 for the positions I'm carrying from yesterday. I expect the levels 4665 and 4625 to provide some supports to the market. I'll change the Stop-loss to 4711, if the market goes below 4665 (all the levels mentioned are spot prices). Most of the market people are expecting a close around 4700 for this expiry. But my personal view is that the levels for this expiry could be lower. Let's see how the market pans out today. Happy Trades!!!!!

[vinay28]

You can even keep SL slightly below 4700 now