Pakatil,
Just my view :
Holding of any positions should be till either of :
1. Level you are comfortable.
2. 2% of contract value.
3. 2% of capital.
4. Next/critical SR level.
As far as Nifty is concerned, technically :
1. Next resistance is 5,573 which is also 50% fibo no. on the weekly charts.
2. 5,622 is 61.80% resistance on weekly charts.
3. Max that I see this move playing out is 5,630
Fundamentally, we have reports that Govt. has pushed in token fuel price hike for now. However post monsoon session, higher fuel prices hike of 5 Rs. for diesel is in the offing. Can the govt. borrow the spine
to push in this hike.? If so, how will the market react.?
This month will have lot of external factors mostly which can impact the markets negatively.
1. US Budget talks.
2. Replacement of Fed. Chairman
3. Most important - tapering off the Fed. bond purchase.
Joker in the pack event : Obama taking approval of the congress for strike on Syria. UK has decided not to act. Germany is iffy. A timid response from the US, will take the sails away from the oil bulls.... and if oil drops, it can impact the market positively.
Second Joker : How the rupee moves. Reliance sold 400 Mil. $'s on Fri. which gave a fillip to the rupee. Does Reliance's (one of the best in market intelligence) move imply rupee will strengthen from here on.?
Lots of ifs and buts. Positional players will be short, as their view is of much longer term and can bear short term pain. As short term traders, we have to take a call based on our own reading and understanding of the market and appetite for risk, or RR setup.
So tomorrow, personally can be long or short based on intraday chart for day trade. Positionally, would like to short would look to short around 5,620 range or if the market capitulates.
My 2C.
Just my view :
Holding of any positions should be till either of :
1. Level you are comfortable.
2. 2% of contract value.
3. 2% of capital.
4. Next/critical SR level.
As far as Nifty is concerned, technically :
1. Next resistance is 5,573 which is also 50% fibo no. on the weekly charts.
2. 5,622 is 61.80% resistance on weekly charts.
3. Max that I see this move playing out is 5,630
Fundamentally, we have reports that Govt. has pushed in token fuel price hike for now. However post monsoon session, higher fuel prices hike of 5 Rs. for diesel is in the offing. Can the govt. borrow the spine
to push in this hike.? If so, how will the market react.? This month will have lot of external factors mostly which can impact the markets negatively.
1. US Budget talks.
2. Replacement of Fed. Chairman
3. Most important - tapering off the Fed. bond purchase.
Joker in the pack event : Obama taking approval of the congress for strike on Syria. UK has decided not to act. Germany is iffy. A timid response from the US, will take the sails away from the oil bulls.... and if oil drops, it can impact the market positively.
Second Joker : How the rupee moves. Reliance sold 400 Mil. $'s on Fri. which gave a fillip to the rupee. Does Reliance's (one of the best in market intelligence) move imply rupee will strengthen from here on.?
Lots of ifs and buts. Positional players will be short, as their view is of much longer term and can bear short term pain. As short term traders, we have to take a call based on our own reading and understanding of the market and appetite for risk, or RR setup.
So tomorrow, personally can be long or short based on intraday chart for day trade. Positionally, would like to short would look to short around 5,620 range or if the market capitulates.
My 2C.
It never matters from where you are Short or Till when you will hold it.
All I asked was till when Fresh Shorts should be hold. It is always your prerogative to tell or not.
Any way.....thanks for reply.
Cheers
All I asked was till when Fresh Shorts should be hold. It is always your prerogative to tell or not.
Any way.....thanks for reply.
Cheers
