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Trade based on Price Action: Nifty Outlook for 15-Sep-11 |
TLS2010
White Belt
Joined: 30 Nov 2010
Posts: 37
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Post: #1  Posted: Thu Sep 15, 2011 5:47 am Post subject: Trade based on Price Action: Nifty Outlook for 15-Sep-11 |
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Hi,
Yesterday we got 2 trade opportunities to go short at 4945 within the 1st hr and it reached our target of 4920 - which was within the support zone (4900-4920). I had mentioned that if the bulls are taking the market above 5000 we will not short but wait to see if they are really strong in the 4975 area. Nifty came back to 4985 and took support to make intraday high of 5026 before closing at 5012.
What is likely to happen today?
Market Sentiments:
1. Short sellers are in a state of panic, they are going to cover their positions as soon as market opens and if Nifty trades above 5025.
2. Buyers who lost opportunity in yesterdays rally will look to get in at any cost. This will add to more buying pressure.
3. Bullish sentiments seem to be higher hence I m expecting Nifty to remain bullish today it may even give us a gap-up open.
What should we do?
Be a buyer today, best range to buy Nifty is at 4990-5015 levels for a target of 5050-5070-5095. However if you think Nifty is not going to come down within our buying range then buy at market price (provided it is below 5030) and sell at 5050-5070-5095.
Please note: Do not keep any open positions for tomorrow as we may witness volatile market due to RBI credit policy review
Good Luck!
- Lawrence Sequeira |
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pkveenu
White Belt
Joined: 21 Apr 2009
Posts: 106
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| Post: #2 Posted: Thu Sep 15, 2011 3:48 pm Post subject: great technicals |
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the move of the nifty at last honour your words
ended at 5075 and trying to touch 5085 and 5095
wonderful
keep it up and post regularly
regards |
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sv09
White Belt
Joined: 27 Aug 2009
Posts: 17
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| Post: #3 Posted: Thu Sep 15, 2011 5:27 pm Post subject: Re: Trade based on Price Action: Nifty Outlook for 15-Sep-11 |
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| TLS2010 wrote: | Hi,
Yesterday we got 2 trade opportunities to go short at 4945 within the 1st hr and it reached our target of 4920 - which was within the support zone (4900-4920). I had mentioned that if the bulls are taking the market above 5000 we will not short but wait to see if they are really strong in the 4975 area. Nifty came back to 4985 and took support to make intraday high of 5026 before closing at 5012.
What is likely to happen today?
Market Sentiments:
1. Short sellers are in a state of panic, they are going to cover their positions as soon as market opens and if Nifty trades above 5025.
2. Buyers who lost opportunity in yesterdays rally will look to get in at any cost. This will add to more buying pressure.
3. Bullish sentiments seem to be higher hence I m expecting Nifty to remain bullish today it may even give us a gap-up open.
What should we do?
Be a buyer today, best range to buy Nifty is at 4990-5015 levels for a target of 5050-5070-5095. However if you think Nifty is not going to come down within our buying range then buy at market price (provided it is below 5030) and sell at 5050-5070-5095.
Please note: Do not keep any open positions for tomorrow as we may witness volatile market due to RBI credit policy review
Good Luck!
- Lawrence Sequeira |
Dear TSL2010
Your analysis was spot on...... Unfortunately I saw your post rather late in the day...but nevertheless blundered my way through today and came out unscathed. Please do keep up with your posts and share some of your methods...it would be of immense help to novices like me. What is your thinking for 16th Sept? was today's hike in anticipation of some good news from RBI and sustain further or do you think some profit booking is in order....
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