Long or Short Opinion

[rajputz]

Check CMC for further upmove. Giving a nice trend continuation signal. Volumes also slightly increasing from last two three days.

 

[rajputz]

ONGC is also giving a downside hook exactly from the upper resistance EMA. ZLR is good, but the only contradicting factor is that LSMA is green yet. If it turns Red we can short for further confirmed downside.

 

[simple_trader]

Not very sure if NIFTY has already taken swing support at 5050 around. It may be possible to show some more down side.

4900 PUT seems to have added good OI and would provide good support. Also before that 200 DMA comes around 4950 around.

I think today NIFTY will show range bound move (insider day is possible) between 5050-5125 future.

RIL seems to be very close to it's support around 990-1000 spot. However, it is better to avoid for trading as it may have news flow soon.

 

[AlokTewari]

Nifty has formed a Bullish gartley pattern. I am just testing it. Lets c if it is respected. After a major retracement to upside, the price formes an ABCD pattern in which Leg AB=Leg CD, after which the bullish move continues. Check it out. B and D are reaching the 38% retracement of XA leg.

Hi,

One day Nifty goes down, it gives sell signal in the evening. Next day Nifty goes up & it gives buy signal on charts. It is like dog chasing the tail.

Frankly speaking I don't think Nifty can go anywhere up beyond 5150 or 5170-5180 atmost during this month. There is a saying in Market about May month - Sell in first week, go on Holiday & come back end of May & buy back. This looks true for 5200 Put. Buy it , forget it & cover it before expiry.

Though intraday wild moves on many stocks give good intraday opportunity to make money.

Cheers !!!!

Alok Tewari

 

[simple_trader]

Dear rajputz,

Is DLF running a bearish Wolfe? Please confirm.

thanks!

It has showed effect in DLF chart. fell DLF from 340 to almost 290.

 

[SwingKing]

Not very sure if NIFTY has already taken swing support at 5050 around. It may be possible to show some more down side.

4900 PUT seems to have added good OI and would provide good support. Also before that 200 DMA comes around 4950 around.

I think today NIFTY will show range bound move (insider day is possible) between 5050-5125 future.

RIL seems to be very close to it's support around 990-1000 spot. However, it is better to avoid for trading as it may have news flow soon.

Instead of staying away from RIL, see if you can form a straddle strategy on it. News flow is expected and hence directional movement is expected. Why not benefit from it ?

Tc

 

[simple_trader]

Instead of staying away from RIL, see if you can form a straddle strategy on it. News flow is expected and hence directional movement is expected. Why not benefit from it ?

Tc

Before news, often option prices are inflated. Difficult to make money. I personally do not like straddle long though.

Also, my personal opinion, straddle may not work well in news. It may work fine, when band is narrow, and we expect some BO or break down chart wise.

happy trading!

regards

 

[aditya14]

Our Market will roll over today so think hard before you buy.

 

[simple_trader]

Not very sure if NIFTY has already taken swing support at 5050 around. It may be possible to show some more down side.

4900 PUT seems to have added good OI and would provide good support. Also before that 200 DMA comes around 4950 around.

I think today NIFTY will show range bound move (insider day is possible) between 5050-5125 future.

RIL seems to be very close to it's support around 990-1000 spot. However, it is better to avoid for trading as it may have news flow soon.

So far market is inline and trading in the range. Though one caution, in case we break below 5050 support zone, intraday fall can be good and fast. So one can trade selectively.

 

[simple_trader]

I guess NIFTY has made RSI divergence in 30mins or 60 mins chart? Can someone please upload the chart. It is supposed to be a bullish signal.