Bulls, Bears & The Lion
- Thread starter findvikas
- Start date
Not asking anyone to bet on this, please dont do it... but just for sharing purpose why I am expecting below 4600 levels by this expiry and I am betting on it with 24lots of 4600PE @ 10.25 (betting half the profit of this month)
Both Elliott Wave and WolfeWave are suggesting similar targets... well below 4600 mark
If this WolfeWave complete on time, then we will see below 4550 by this expiry. Now if you look at the PCR 4500 is trading at 13.5
Even for January they have maximum puts added for 4500 and PCR is at 184.67
For Eliott Wave see this...
http://www.traderji.com/technical-analysis/34989-nifty-elliott-wave-analysis-4.html#post394298
Both Elliott Wave and WolfeWave are suggesting similar targets... well below 4600 mark
If this WolfeWave complete on time, then we will see below 4550 by this expiry. Now if you look at the PCR 4500 is trading at 13.5
Even for January they have maximum puts added for 4500 and PCR is at 184.67
For Eliott Wave see this...
http://www.traderji.com/technical-analysis/34989-nifty-elliott-wave-analysis-4.html#post394298
Today is going to be a fun day, US markets have closed down by 1.25% wherein S&P 500 has breached the critical support line coming from the March 2009s lows which could trigger a global sell off and further rally of dollar. My personal view is that Nifty is going to touch down 4500 in some time sooner than later and Big Boy Reliance will lead this correction and has a downside target of 985 ( mind you I suggested to sell at any price above 1080 )
I am very negative on Banking & Oil & Marketing companies.
Sector wise:
- SBI & ICICI will make the most denting to Banking sector
- BHARTI will drag entire telecom space
- RIL, ONGC will drag energy sector
- IT has some bit of strength for a short period and can outperform the broader market with USD value increase
The effect of US is visible on entire Asian markets, most of them trading below 1% and India should open around 4995-5000 level. Sustenance above 4994 mark is very crucial for further up move.. below 4994 bears will take charge of market and take you for a free ride to Kanyakumari or even Sri Lanka
If you are not a mid/long term player then I would advise to get aside and watch the fight between bulls & bears. Just be spectator and not try to trade in this choppy market unless we have a clear trend. If you are a long term investor then this is probably going to be your last chance when you will get to pick few best companies at the best bargain rate.
I am very bullish on RIL in long term and have a target price of above 1400 in a year or two, Maruti is going to lead the Auto pack and Bharti will once again outpace all others in Telecom space. I would prefer AXISBANK & DENABANK over other banks. Keep on accumulating these stocks on every fall and forget about daily market moves.
I am very negative on Banking & Oil & Marketing companies.
Sector wise:
- SBI & ICICI will make the most denting to Banking sector
- BHARTI will drag entire telecom space
- RIL, ONGC will drag energy sector
- IT has some bit of strength for a short period and can outperform the broader market with USD value increase
The effect of US is visible on entire Asian markets, most of them trading below 1% and India should open around 4995-5000 level. Sustenance above 4994 mark is very crucial for further up move.. below 4994 bears will take charge of market and take you for a free ride to Kanyakumari or even Sri Lanka
If you are not a mid/long term player then I would advise to get aside and watch the fight between bulls & bears. Just be spectator and not try to trade in this choppy market unless we have a clear trend. If you are a long term investor then this is probably going to be your last chance when you will get to pick few best companies at the best bargain rate.
I am very bullish on RIL in long term and have a target price of above 1400 in a year or two, Maruti is going to lead the Auto pack and Bharti will once again outpace all others in Telecom space. I would prefer AXISBANK & DENABANK over other banks. Keep on accumulating these stocks on every fall and forget about daily market moves.
Market move could be a bear trap today... be very careful... sell on any rally around 5060 and cover around 5000 if it trades in that range. I dont think although, so the range will move to 4942-5015 sell around 5000 with SL @ 5012-5015 and cover 50% around 4960 and rest around 4942.
If we trade below 4940 then buy 4800Put and close your eyes till expiry.
If we trade below 4940 then buy 4800Put and close your eyes till expiry.
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