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where am i now |
kreshnan99
White Belt
Joined: 08 Sep 2007
Posts: 14
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Post: #1  Posted: Sat Sep 07, 2013 2:41 pm Post subject: where am i now |
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Dear wise folks
I short nifty at 5525.  
can anyone suggest me what should be my next action.
EK |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #2 Posted: Sat Sep 07, 2013 2:46 pm Post subject: Re: where am i now |
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| kreshnan99 wrote: | Dear wise folks
I short nifty at 5525.
can anyone suggest me what should be my next action.
EK |
Hello, you have awakened after 6 years from your Lair. What did we do to budge your attention? Was the noise too loud! |
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kreshnan99
White Belt
Joined: 08 Sep 2007
Posts: 14
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| Post: #3 Posted: Sat Sep 07, 2013 2:55 pm Post subject: Re: where am i now |
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pls guide me properly
| apka wrote: | | kreshnan99 wrote: | Dear wise folks
I short nifty at 5525.
can anyone suggest me what should be my next action.
EK |
Hello, you have awakened after 6 years from your Lair. What did we do to budge your attention? Was the noise too loud! |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #4 Posted: Sat Sep 07, 2013 2:58 pm Post subject: Re: where am i now |
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| kreshnan99 wrote: | pls guide me properly
| apka wrote: | | kreshnan99 wrote: | Dear wise folks
I short nifty at 5525.
can anyone suggest me what should be my next action.
EK |
Hello, you have awakened after 6 years from your Lair. What did we do to budge your attention? Was the noise too loud! |
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I was making casual talk! But I am no expert, 100% sure, guidance is expected from vinay28, amitagg and others. |
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neemtree
White Belt
Joined: 20 Feb 2009
Posts: 43
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| Post: #5 Posted: Sat Sep 07, 2013 4:18 pm Post subject: |
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Right now mkt is in buy. You should not have shorted there.
What is your system ? did it tell you to short at 5525 and hold ?
My system saying mkt is in buy and I am not sure of the tgt but probably it could go to 5800 levels.
But there is a pending gap-fill and it may come to retest the high of 4th sep, but no guarantee if it comes or not. This is just a view and not to trade.
Thanks,
Sri |
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vinay28
Black Belt
Joined: 24 Dec 2010
Posts: 11748
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| Post: #6 Posted: Sat Sep 07, 2013 5:15 pm Post subject: |
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you may be just lucky to be near a resistance zone. You SL should be daily close above 5760 or 5850 but that means >200/300 loss.
Even if nifty does react, about 5550/5450 are good supports. After that 5250/5150 is possible, if you are lucky. |
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ragwendra
White Belt
Joined: 12 Oct 2011
Posts: 36
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| Post: #7 Posted: Sat Sep 07, 2013 7:58 pm Post subject: Re: where am i now |
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| kreshnan99 wrote: | Dear wise folks
I short nifty at 5525.
can anyone suggest me what should be my next action.
EK |
market is at 5700 and ur still holding it so u seems to be very very brave trader so now u can exit or wait till 23 sep , will get 3 days hope u be profitable |
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apka
Black Belt
Joined: 13 Dec 2011
Posts: 6137
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| Post: #8 Posted: Sat Sep 07, 2013 8:53 pm Post subject: Re: where am i now |
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| ragwendra wrote: | | kreshnan99 wrote: | Dear wise folks
I short nifty at 5525.
can anyone suggest me what should be my next action.
EK |
market is at 5700 and ur still holding it so u seems to be very very brave trader so now u can exit or wait till 23 sep , will get 3 days hope u be profitable |
I can tell you without mentioning 100% surity that I feel 5850 will be the max (although crossing 5770 will be a task in itself) in spot this series and we are due for a fall till 5500 atleast in this serious. |
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ritapandit25
Black Belt
Joined: 04 May 2013
Posts: 2926
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| Post: #9 Posted: Sat Sep 07, 2013 9:03 pm Post subject: Re: where am i now |
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| kreshnan99 wrote: | Dear wise folks
I short nifty at 5525.
can anyone suggest me what should be my next action.
EK |
Hold ur short u will get below 5490 to covered it in coming week soon.
Good luck. |
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rk_a2003
Black Belt
Joined: 21 Jan 2010
Posts: 2734
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| Post: #10 Posted: Sat Sep 07, 2013 9:14 pm Post subject: |
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Kreshnan,
I should tell that at least you are theoretically right being short. But, the problem here is being theoretically right doesn’t serve any purpose. What I mean is market has to go down in future but not necessarily in this month.
The best way could be shorting again around 5765 NF and keeping a SL at 5835 once you enter in to profit squaring it off.
Incase market is not crossing 5764 then still you can wait for a possible down ward move. Incase market follows the recent trend of going up for 4 days and tanking you will be lucky. But market makers don’t repeat such patterns quite often. |
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sonshu101
White Belt
Joined: 24 Nov 2011
Posts: 79
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| Post: #11 Posted: Sat Sep 07, 2013 9:37 pm Post subject: |
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Yes there are cluster of resistances for Nifty now. but I think nifty should consolidate near this range for some time being. Difficult to say when Nifty will fall in near future  |
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kreshnan99
White Belt
Joined: 08 Sep 2007
Posts: 14
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| Post: #12 Posted: Sat Sep 07, 2013 10:16 pm Post subject: |
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| Now, I feel nifty will have resistance at 5705 and re-visit 5463 levels in shortly. I may be wrong. if it does not happen I have to book loss for time being. if any alternate solutions available, please guide / share with me. |
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svkum
White Belt
Joined: 14 Feb 2007
Posts: 321
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| Post: #13 Posted: Sat Sep 07, 2013 10:24 pm Post subject: |
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kreshnan
Is this any other stock , which you think , buy and hold , and keep quite?
what was the sl , assumed while entering ?
is it wise to hold the position even after 150 pts loss?
by not exiting lossy position you are just satisfying your ego.
you shd be cautiously ruthless if you are wrong, and be wiser yourself , instead of asking help from wise ppl |
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pkholla
Black Belt
Joined: 04 Nov 2010
Posts: 2890
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| Post: #14 Posted: Sun Sep 08, 2013 11:06 am Post subject: Re: where am i now |
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| kreshnan99 wrote: | | I short nifty at 5525.can anyone suggest me what should be my next action. EK |
1 Next time keep strict stop loss at suitable point
2 On trig SL see if you want to reverse ie go long
3 If any consolation, happens / happened to us all.
In end June 2011 everyone saying market will collapse from NF 5200?, bearish, so I bought NF 5100 July puts and waited. Market zoomed 600-700 pts before collapsing to around 5100-5200 in August 2011. I waited and got zero return from OTM put at July NF close!
So? Learn a lesson, keep SL, be on alert all the time.
Read Al Brooks and invest as per what you see on the screen real time and not what experts say on TV and in papers!
Jai Hind, Prakash Holla |
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aahoo
White Belt
Joined: 14 Jan 2012
Posts: 20
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| Post: #15 Posted: Sun Sep 08, 2013 11:40 am Post subject: Re: where am i now |
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| kreshnan99 wrote: | Dear wise folks
I short nifty at 5525.
can anyone suggest me what should be my next action.
EK |
After touching 5813 nifty may retest 5555. Not lower in this series. Keep SL around 5820 if you are adamant to book loss now. May be you will have an opportunity to book loss at 5623 in two days. |
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