Bulls, Bears & The Lion

[findvikas]

Didnt came below 5012
Order not activated yet...

 

[trade4putuval]

Wipro 680CA looks good around 9.5 for target of 11-12 intraday.. SL @ 8

See order book, not much trade happening.

Rajiv

 

[findvikas]

Don't go by what's happening in Option space, specially when dealing with Stock Options. See what is your target in SPOT and Options will move accordingly

I have target of 672-675 in SPOT , LTP = 665.20

 

[trade4putuval]

30 min is for long term traders
Thats not perfect morning star, it should have been a perfect doji... which is not.. then the current bar should have been opened higher than the close of previous (if red) otherwise higher than the open (if green)

See 30 min chart now.
After morning start, the next green bar opened higher and closed higher.

Rajiv

 

[trade4putuval]

Don't go by what's happening in Option space, specially when dealing with Stock Options. See what is your target in SPOT and Options will move accordingly

I have target of 672-675 in SPOT , LTP = 665.20

That's right. But nobody is trading much on this option and when our target is achieved and nobody is there to buy our option, we will be stuck. That's what I meant by my previous message.

Rajiv

 

[findvikas]

Sell now @ 5030.

 

[findvikas]

That's right. But nobody is trading much on this option and when our target is achieved and nobody is there to buy our option, we will be stuck. That's what I meant by my previous message.

Rajiv

Thats the problem with stock options...
there are two situations when you dont find a buyer.. when the position is ITM and when its far OTM

At present 680CA is OTM and will be near money once SPOT reaches 675.. just my way of looking at it.. lets avoid it and get back to NIFTY.

Went all the way to 5030 and fading now..

 

[findvikas]

Purely intraday... Chart is showing some strength and can breach 5050 once for a target of 5070-5080 max where bears will take over

Cover Shorts/Go Long @ 5010-5005 for target of 5040-5050-5075
Positional I am bearish only.

 

[findvikas]

most likely this is distribution going on.. small small red candles with volume picking up..

 

[findvikas]

A research report from Kotak. These guys have one of the best research team that I came across among all the brokers.

Short term trend: Down (Down below 5110); Medium term trend: Up (Up above 5140); Long term trend: Up


On Tuesday the market has broken an important support at 5080/17025 level that has triggered weakness in the
market and forced to close below the major support 5030/16920 level. This may lead one more round of weakness in
coming few days because it's a break down out of distribution zone, which was between 5080 and 5180 levels. The
next major support for the market exists at 4925/4935 (16580/16530) levels.
As per overall formation it seems that it will be tough for the market to recapture the levels of 5080/90 (17025/17060)
in the near term at least on the closing basis. If it happens then only we can say that the market has absorbed the
bearishness. Any pull back towards the level 5090/17060 will be an opportunity to sell short with a tight stop loss
above it. However, any steep sell off at the beginning to the levels 4935/4925 may offer short term traders an
opportunity to trade long with a tight stop loss below the level 4900 with a short term prospect