Long or Short Opinion
- Thread starter rajputz
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Look at HDFCBANK weekly chart, 1800 was top twice, price has come out to 1800 after break out. Likely to take support here and make up swing.
FTSE and the dow World's 2 most powerful index need to close around 5050 and 10150-10200 levels and we will see 5000 tomorrow on close. However, FTSE needs to close above 5115 to give a swing buy with a stop at 5050. Nifty if closes above 5030 will be good to go long. I think before that we might have a week of sideways movement and more accumulation by big players. FIIs need to start buying soon otherwise they wont let the market move up. Anyways India is not their prime target they prefer Brazil and Russia more so that countries people will suffer a lot. FIIs are cautious on India due to High Inflation which is good for us. DIIs dont short hence market can move up leaps and bounds from here 
LOL no activity from FIIs or DIIs today. They are watching the other markets before a trend is set. This doesn't look good Rally without FIIs or DIIs is not good. Volumes today are huge though massive volumes. Anyways lets hope for the best. And Hope DIIs and FIIs jump in the buy Wagon. DIIs have been net buyers for quite sometime and we want FIIs to participate who would rather put money in Europe now due to the cheap valuations there. Anyways lets see how US pans out it rallied on low volumes yesterday and only a very few stocks closed in green. VIX for US was above march 2009 which means fear has been highest in past 2 years since oct 2008 and whenever VIX starts to retrace perfect time to go long. Usually a VIX high at 40 levels or above signals a peak and starts to come down equity have rallied in past 2 years. Average return can be anywhere between 7% to 30%
Hi,
Let's not go gung ho with one day's of upside movement. Eurozone problem is too big to be solved so easily. Every second day something new crops up to bring markets down. If the problem was so small then where was the need for world markets to tank so heavily for last few days. I still think until we sustain above 200 DMA consistently for few days , it is sell on rally rather than buy on dip. Someone seems to be buying June 4200 Put heavily. In May FIIs bought 4800 Put & market came down to 4800. Is it going to be similar in June. Charts won't tell you that. Let's keep our ears on the ground & try to find any tell-tale signs rather than start jumping with one day's up move.
Cheers !!!
Alok Tewari
Let's not go gung ho with one day's of upside movement. Eurozone problem is too big to be solved so easily. Every second day something new crops up to bring markets down. If the problem was so small then where was the need for world markets to tank so heavily for last few days. I still think until we sustain above 200 DMA consistently for few days , it is sell on rally rather than buy on dip. Someone seems to be buying June 4200 Put heavily. In May FIIs bought 4800 Put & market came down to 4800. Is it going to be similar in June. Charts won't tell you that. Let's keep our ears on the ground & try to find any tell-tale signs rather than start jumping with one day's up move.
Cheers !!!
Alok Tewari
These coming days might be a sideways movement or short covering, but dont go long blindly. I am my self just waiting for the market to settle down some where. Waiting for a trend continuation pattern, or some trend reversal. presently it is in no trade zone for me.
One thing i forgot to mentions is that it is not the short covering time either. No such signal has been recieved yet.
P.S. - Atleast according to my system
One thing i forgot to mentions is that it is not the short covering time either. No such signal has been recieved yet.
P.S. - Atleast according to my system
The way I see is over all USA market and our market weekly charts are flat. We may remain in the tight band still sometime. Dow bounced yesterday from weekly band low which was around 9850 around.
The same is our band low is around 4700-4750 around. We may not rule out testing those levels once. But there is not mandatory to test it.
We have to observe, if Dow does not show weakness, then may be correction is over. It does not mean that we have to buy everything or rally will over in one day. Slowly confidence building will happen and there will be lot of time to make money in long if this will be a rally to upper band.
Being short, does not make sense here. This is my personal thinking. Sure, we are below 200 DMA, but we may go above it, even though we remain in down trend.
If market finds resistance at high level, stance can be changed.
Many people, many views We have to make money even if we get our direction wrong!
Happy trading!
The same is our band low is around 4700-4750 around. We may not rule out testing those levels once. But there is not mandatory to test it.
We have to observe, if Dow does not show weakness, then may be correction is over. It does not mean that we have to buy everything or rally will over in one day. Slowly confidence building will happen and there will be lot of time to make money in long if this will be a rally to upper band.
Being short, does not make sense here. This is my personal thinking. Sure, we are below 200 DMA, but we may go above it, even though we remain in down trend.
If market finds resistance at high level, stance can be changed.
Many people, many views
We have to make money even if we get our direction wrong!Happy trading!
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