Long or Short Opinion

[nimish_rulz]

Going to a hedge fund conference in London.Will update here what their views are! Lets see what they say.

 

[simple_trader]

Insider day so far today. Best known for SL hitting. Good for jobbing!

Market opened with 100 points range of fake trades. Both are holding as of now.

Happy trading!

 

[rajputz]

On EOD basis TCS is looking good for shorting side. Short at closing basis near 733.50. Can prove to be a good btst.

 

[nimish_rulz]

Short Vijaya Bank Stop loss 63.35. First Target 58. Reason failed to maintain higher levels and closed at the bottom with high volumes. Clear indication of distribution. Stop can also be used at 62 by someone who is very risk averse and wants very low risk. If first target hit bring the trailing stop to 59.95.

 

[AlokTewari]

On EOD basis TCS is looking good for shorting side. Short at closing basis near 733.50. Can prove to be a good btst.

All IT biggies Infosys, TCS, Wipro are sell candidates

 

[rajputz]

Check Sail.

Looking for increase in volume today. If takes support here then bounce back can be good. otherwise can give more downside. Looking for a double bottom reversal here.

 

[rajputz]

Short Vijaya Bank Stop loss 63.35. First Target 58. Reason failed to maintain higher levels and closed at the bottom with high volumes. Clear indication of distribution. Stop can also be used at 62 by someone who is very risk averse and wants very low risk. If first target hit bring the trailing stop to 59.95.

Hi Nimish,

I agree to views to some extent. Here are some points i would like to mention.

Better keep the shorting view about vijaya bank below 61.75 only. Above that it is little risky, as the stock is in highly trending mode. Just check the angles of the supporting EMA's.

On market facilitation index Price range has decreased, and volume has increased. This is a squat movement, where price is squatting. It can either continue over it, or reverse below it. Increase in Volume over a Decreasing MFI is sign of reversal. And if i am not counting wrong, then it is the final wave 5 of elliot wave. And to support your view, squat is the end of wave and counter movement can occur. But below the closing price of previous day only. Above that risk is there as a squat can be failure.

 

[rajputz]

From last Few days nifty is trying to struggle for upward movement. But the global cues are ruining the move. Untill now the trend is up on CCI, ZLR to downside failed with a famir. Famir failed with GB100, and now GB100 again turned to famir. Lol. Ye kya ho raha hai. Will stay long above 5060, and short at 5030. Between that no trade zone for me.

 

[simple_trader]

One of the trick that I follow is I pick up stocks for shorting before TV guys speak about them. The moment TV guys speak about them, I do not dare to short them.

Bottom like is, TV guys are talking about IT as short today, hence time to be careful in short them for today at least.

 

[SwingKing]

Hi Nimish,

I agree to views to some extent. Here are some points i would like to mention.

Better keep the shorting view about vijaya bank below 61.75 only.

Dear Just by the look of your charts, it seems Vijaya bank is trending strongly. Well, I am not an expert in Volume analysis, hence cannot comment on that. But by the look of trend it is not advisable to do so. Along with Vijaya bank, I think many banks in the same genre are doing well as well. In a sticky market they seem to be holding up. Hence, even if they come down, it would be a mere pullback and not a correction to profit from. Also, on very short time frame, the entire BankIndex is in 3 rd Wave according to EW. That means, leg 5 could be expected. And if that's the case, then these stocks should consolidate and move higher.

Just my opinion.

Tc