Long or Short Opinion
- Thread starter rajputz
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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!
Happy trading!
Nifty today closed above 200 DMA. the long awaited.
Short positions are closed for me now as CCi has crossed above the -100 line. Although i havent got any buy signal on nifty, but then also i would like to go long. If the Trend Continuation to downward signal occurs, i will exit with a loss of stoploss triggered.
It is not necessary that a trend reversal signs will be given by the system. The price may hike up smoothly, widout giving any signal. So rather then losing the opportunity, i would like to take a risk buying. 5040 is the first point, where resistance might come in, after that 5090, so these are the levels to keep a close watch on. If we buy near the current levels, the fall may occur these areas, so stoploss will be either small, or a little profit trade. Then will reverse the trade to sell side.
Another technical concern i am worried about the upmove is from Stochastic and RSI. Stochastic has just crossed in the oversold zone, and it is a 50:50 chance that it can rise smoothly to upside, or give a steep fell first and then rise.
Other thing that most concerns me at this time is gapup or gapdown that are occuring these days due to news basis either indian or global. Closing above 5030 or 5040 in the coming days is a positive sign for our markets. Note that this is on daily time frame i am discussing. There are many discussion about the bigger picture like aw and raunak sir, that we are in big correction, aur market are bearish. Mine views are particularly about the daily price charts.
Check the charts: -
Short positions are closed for me now as CCi has crossed above the -100 line. Although i havent got any buy signal on nifty, but then also i would like to go long. If the Trend Continuation to downward signal occurs, i will exit with a loss of stoploss triggered.
It is not necessary that a trend reversal signs will be given by the system. The price may hike up smoothly, widout giving any signal. So rather then losing the opportunity, i would like to take a risk buying. 5040 is the first point, where resistance might come in, after that 5090, so these are the levels to keep a close watch on. If we buy near the current levels, the fall may occur these areas, so stoploss will be either small, or a little profit trade. Then will reverse the trade to sell side.
Another technical concern i am worried about the upmove is from Stochastic and RSI. Stochastic has just crossed in the oversold zone, and it is a 50:50 chance that it can rise smoothly to upside, or give a steep fell first and then rise.
Other thing that most concerns me at this time is gapup or gapdown that are occuring these days due to news basis either indian or global. Closing above 5030 or 5040 in the coming days is a positive sign for our markets. Note that this is on daily time frame i am discussing. There are many discussion about the bigger picture like aw and raunak sir, that we are in big correction, aur market are bearish. Mine views are particularly about the daily price charts.
Check the charts: -
Hi,
Well Nifty is above 200 DMA & that should be a bit reassuring to enter the market with longs. Some may say we told you 2 days back & you missed 100 points. Well so be it. In gambling sometime you are right does not mean, you will be always right & one should gamble.
Markets are up on China's assurance that it will not sell European debt it holds. Now that is scary because a life size monster has been created. China has big stake in Dollar & now it controls European debt. Chinese economy after growing at rapid pace is close to bubble. By shrewd manouvering China has insured that "don't let me fall or everyone falls". Earlier this position was held by USA. Welcome to the new world order & start following Chinese stock index closely & very soon that will decide how other stock markets of the world will open or close.
Cheers !!!
Alok Tewari
Well Nifty is above 200 DMA & that should be a bit reassuring to enter the market with longs. Some may say we told you 2 days back & you missed 100 points. Well so be it. In gambling sometime you are right does not mean, you will be always right & one should gamble.
Markets are up on China's assurance that it will not sell European debt it holds. Now that is scary because a life size monster has been created. China has big stake in Dollar & now it controls European debt. Chinese economy after growing at rapid pace is close to bubble. By shrewd manouvering China has insured that "don't let me fall or everyone falls". Earlier this position was held by USA. Welcome to the new world order & start following Chinese stock index closely & very soon that will decide how other stock markets of the world will open or close.
Cheers !!!
Alok Tewari
What was gambling shorting or longing? We can Justify our bearishness and bullishness with many reasons, but market has to do what it has to do. Every hour reason will change. Let's make money with the flow of market and be happy
Lots of volatility on the way, it means money can be made in quick changes with the market.
I was attending a seminar last weekend. Almost all were bearish, and other point I could take back was market would be difficult for option writers for sometime.
Happy trading!
Lots of volatility on the way, it means money can be made in quick changes with the market.
I was attending a seminar last weekend. Almost all were bearish, and other point I could take back was market would be difficult for option writers for sometime.
Happy trading!
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