Morning Update at 0800hrs for Intraday Market Level
- Thread starter pranayk
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markets for 29 oct
as was expected, ruthless shorting continued unabated and nifty was made to test sub 4800 levels from where bulls who had already been converted into half bullocks managed to prevent nifty from further slide and kept nifty above 4800 levels with a lot of difficulty. However if on thursday, nifty falls below 4800 levels again, then one can be rest assured of seeing the bulls getting fully converted into bullocks to work in the fields of dow & sgx operators as after the breach of 4800 levels again , nifty can straight dive for 4744 or lower levels with another small break around 4786 to 4783 nifty spot level.
For intraday trading on thursday, one can confidently remain short in nifty futures and boldly short further on every intraday rise of markets as long as nifty spot remains below 4868 to 4878 levels. Further shorting can even be done in case nifty spot fails to hold on to 4800 levels. Although nifty looks highly oversold in daily eod charts and has already touched 13 week moving average around which on earlier corrections during the present bull run nifty had bounce back on breaching this critical 13 week ma, still one can short nifty futures for good gains. Being expiry day & the way nifty has been brought down during last couple of days, there is every possibility of nifty spot closing around or below 4800 levels and a possibility of closing nearer to 4750 or lower levels can not be ruled out.
Long and medium term investors may note the companies which have shown good quarterly results and quietly buy the stocks of these companies gradually on every decline for long and medium term benefits as these company shares will show the sharpest rise on completion of this correction
as was expected, ruthless shorting continued unabated and nifty was made to test sub 4800 levels from where bulls who had already been converted into half bullocks managed to prevent nifty from further slide and kept nifty above 4800 levels with a lot of difficulty. However if on thursday, nifty falls below 4800 levels again, then one can be rest assured of seeing the bulls getting fully converted into bullocks to work in the fields of dow & sgx operators as after the breach of 4800 levels again , nifty can straight dive for 4744 or lower levels with another small break around 4786 to 4783 nifty spot level.
For intraday trading on thursday, one can confidently remain short in nifty futures and boldly short further on every intraday rise of markets as long as nifty spot remains below 4868 to 4878 levels. Further shorting can even be done in case nifty spot fails to hold on to 4800 levels. Although nifty looks highly oversold in daily eod charts and has already touched 13 week moving average around which on earlier corrections during the present bull run nifty had bounce back on breaching this critical 13 week ma, still one can short nifty futures for good gains. Being expiry day & the way nifty has been brought down during last couple of days, there is every possibility of nifty spot closing around or below 4800 levels and a possibility of closing nearer to 4750 or lower levels can not be ruled out.
Long and medium term investors may note the companies which have shown good quarterly results and quietly buy the stocks of these companies gradually on every decline for long and medium term benefits as these company shares will show the sharpest rise on completion of this correction
Dear All,
For the last couple of days I had a net problem (and out of this forum) which affected badly on my business(shame to bsnl)...... Last night I dreamt 'm in america , enjoing superfast T1 connection ..... the volume of my wounded Portfolio rose like skyscrapper in NY.... black days has gone.....but........
Still I've faith on myself ....I'll check this massage one day.when ....... if TJ bear this one till then.....
---- aid
For the last couple of days I had a net problem (and out of this forum) which affected badly on my business(shame to bsnl)...... Last night I dreamt 'm in america , enjoing superfast T1 connection ..... the volume of my wounded Portfolio rose like skyscrapper in NY.... black days has gone.....but........
Still I've faith on myself ....I'll check this massage one day.when ....... if TJ bear this one till then.....
---- aid
morning update at 8 am 29 oct 09
as expected after the deceptive rise of 14 points on tuesday, dow fell by 119 points on wednesday night, again on account of a well manipulated & mafia driven economic data which is announced every 2nd day to influence & fool other world markets. European markets which were up on tuesday night on account of dows deceptive rise that night fell by nearly 2.5% last night with uk ftse falling by 2.3%. Brazil which had the maximum gain during last couple of weeks when others were falling, finally gave up & fell by 4.45%.asian markets most of which are entirely directed & influenced by dow operators have opened in deep red & may continue to remain weak for rest of the day most likely to be fooled again tomorrow morning. Highly operator infected sgx nifty whose main thrust is to influence the opening of indian markets has also opened in red with low volume.
For indian markets, expect a panic driven initial fall to breach the critical level of 4800 nifty . However it is to be seen whether after the initial fall below 4800 nifty manages to come above it or not. Today being expiry day the trading pattern of nifty & important stock futures will be ruled by big operators in a unpredictable way although the move will be downwards only. Another thing to be kept in mind is that friday tomorrow being the end of the week is also the month end & more important being coming monday is a holiday. So traders taking short or long positions for next week must keep this long week end in mind.
For intraday trading on the expiry day, no fresh trade is best trade. However hard core day traders may only trade by shorting nifty futures on every intraday rise or on every flat formation or a pause as long as nse index remains below 4868 levels and add more shorts below the critical level of 4800.traders are advised to be a bit cautious as sudden & sharp operator driven unpredictable reverse move may put traders out of gear.
as expected after the deceptive rise of 14 points on tuesday, dow fell by 119 points on wednesday night, again on account of a well manipulated & mafia driven economic data which is announced every 2nd day to influence & fool other world markets. European markets which were up on tuesday night on account of dows deceptive rise that night fell by nearly 2.5% last night with uk ftse falling by 2.3%. Brazil which had the maximum gain during last couple of weeks when others were falling, finally gave up & fell by 4.45%.asian markets most of which are entirely directed & influenced by dow operators have opened in deep red & may continue to remain weak for rest of the day most likely to be fooled again tomorrow morning. Highly operator infected sgx nifty whose main thrust is to influence the opening of indian markets has also opened in red with low volume.
For indian markets, expect a panic driven initial fall to breach the critical level of 4800 nifty . However it is to be seen whether after the initial fall below 4800 nifty manages to come above it or not. Today being expiry day the trading pattern of nifty & important stock futures will be ruled by big operators in a unpredictable way although the move will be downwards only. Another thing to be kept in mind is that friday tomorrow being the end of the week is also the month end & more important being coming monday is a holiday. So traders taking short or long positions for next week must keep this long week end in mind.
For intraday trading on the expiry day, no fresh trade is best trade. However hard core day traders may only trade by shorting nifty futures on every intraday rise or on every flat formation or a pause as long as nse index remains below 4868 levels and add more shorts below the critical level of 4800.traders are advised to be a bit cautious as sudden & sharp operator driven unpredictable reverse move may put traders out of gear.
markets for 30 oct
as was expected, nifty breached 4800 levels and went down to our given level of 4740 to surprisingly close only at our given level of 4750.being expiry day the volume continued to be high as big fund house kept on quietly buying on every intraday fall for long term benefits. As per the daily eod chart above, the abc zigzag correction is very much at its end and you all will see a sharp up move to a new high in november 09 far exceeding the october high of 5181.
If one goes back in history, one can clearly notice that except for the most bearish year of 2008, in every year since the start of the earlier bull market since 2003, november month has always gone on to exceed october highs by a substantial amount. Even during bearish years of 2001 & 2002 november month made a higher high than october high. Even during the most bearish year of 2008, october low was not breached in nov. So bears indulged in & enjoying ruthless sorting may convert themselves to bulls, as early as possible to take the full advantage of history to see a super bullish month of nov 09.
As per daily eod chart above, one can notice that the nifty looks highly oversold and the 2nd down sub wave of 3rd up wave is likely to terminate soon to start the next up wave. From the 19th aug low of 4353, nifty went on to make a high of 5181. It has already retraced down by more than 50% of this rise and at the worst case may retrace till 61.8% which comes around 4677 levels, even one should not be surprised to see next up move taking off quietly after a gap down opening only.
Last week nifty has closed around 4997 and last month nifty had closed around 5084 and interestingly for the first time after the onset of the present bull market since march 09, nifty will be closing lower for two consecutive weeks in a row. Index heavy reliance too has come out with unsatisfactory results. When all the negatives combine together, it is the right time for turn of events and one should not be surprised to see a bounce after the reliance induced opening fall. Although dow looks highly bullish now, be absolutely sure to see dow operators playing their trick to bring it down after closure of european markets to negatively influence asian markets again on friday
FOR INTRADAY TRADING ON FRIDAY, TRADERS MAY BENEFIT BY SHORTING NIFTY FUTURE, EVEN IF CUES FROM ASIAN MARKETS ARE NOT BAD. INDEX HEAVY RELIANCE MAY INDUCE AN OPENING FALL ON FRIDAY TO COMPENSATE FOR DOWS DECEPTIVE +VE INFLUENCE. INTRADAY TRADERS MAY SHORT NIFTY FUTURE ON EVERY INTRADAY RISE TILL SUCH TIME NIFTY REMAINS BELOW 4820 LEVELS & IN CASE NIFTY FALLS BELOW 4737 FURTHER SHORTS MAY BE ADDED FOR GOOD GAINS. HOWEVER AFTER MAKING INITIAL LOW IF NIFTY DOES NOT BREACH IT THEN ONE CAN GO LONG WITH QUIT POINT BELOW THE OPENING LOW.
IN THIS VOLATILE MARKET, IT IS WISER TO BOOK TIMELY PROFITS IN NIFTY FUTURES OR ELSE THE GAIN CAN QUICKLY GET CONVERTED INTO LOSS. A DECISIVE CROSS OVER OF 4820 AND SUSTAINING ABOVE IT WITHOUT AGAIN FALLING BELOW IT MAY BE THE FIRST FEEBLE INDICATION OF SOME SORT OF END OR PAUSE TO THE ON GOING CORRECTION. OPTION TRADERS MAY BUY 2 CALLS OF 4900 TO 1 PUT OF 4700 FOR NEXT WEEK WITH HOLIDAY ON MONDAY.
as was expected, nifty breached 4800 levels and went down to our given level of 4740 to surprisingly close only at our given level of 4750.being expiry day the volume continued to be high as big fund house kept on quietly buying on every intraday fall for long term benefits. As per the daily eod chart above, the abc zigzag correction is very much at its end and you all will see a sharp up move to a new high in november 09 far exceeding the october high of 5181.
If one goes back in history, one can clearly notice that except for the most bearish year of 2008, in every year since the start of the earlier bull market since 2003, november month has always gone on to exceed october highs by a substantial amount. Even during bearish years of 2001 & 2002 november month made a higher high than october high. Even during the most bearish year of 2008, october low was not breached in nov. So bears indulged in & enjoying ruthless sorting may convert themselves to bulls, as early as possible to take the full advantage of history to see a super bullish month of nov 09.
As per daily eod chart above, one can notice that the nifty looks highly oversold and the 2nd down sub wave of 3rd up wave is likely to terminate soon to start the next up wave. From the 19th aug low of 4353, nifty went on to make a high of 5181. It has already retraced down by more than 50% of this rise and at the worst case may retrace till 61.8% which comes around 4677 levels, even one should not be surprised to see next up move taking off quietly after a gap down opening only.
Last week nifty has closed around 4997 and last month nifty had closed around 5084 and interestingly for the first time after the onset of the present bull market since march 09, nifty will be closing lower for two consecutive weeks in a row. Index heavy reliance too has come out with unsatisfactory results. When all the negatives combine together, it is the right time for turn of events and one should not be surprised to see a bounce after the reliance induced opening fall. Although dow looks highly bullish now, be absolutely sure to see dow operators playing their trick to bring it down after closure of european markets to negatively influence asian markets again on friday
FOR INTRADAY TRADING ON FRIDAY, TRADERS MAY BENEFIT BY SHORTING NIFTY FUTURE, EVEN IF CUES FROM ASIAN MARKETS ARE NOT BAD. INDEX HEAVY RELIANCE MAY INDUCE AN OPENING FALL ON FRIDAY TO COMPENSATE FOR DOWS DECEPTIVE +VE INFLUENCE. INTRADAY TRADERS MAY SHORT NIFTY FUTURE ON EVERY INTRADAY RISE TILL SUCH TIME NIFTY REMAINS BELOW 4820 LEVELS & IN CASE NIFTY FALLS BELOW 4737 FURTHER SHORTS MAY BE ADDED FOR GOOD GAINS. HOWEVER AFTER MAKING INITIAL LOW IF NIFTY DOES NOT BREACH IT THEN ONE CAN GO LONG WITH QUIT POINT BELOW THE OPENING LOW.
IN THIS VOLATILE MARKET, IT IS WISER TO BOOK TIMELY PROFITS IN NIFTY FUTURES OR ELSE THE GAIN CAN QUICKLY GET CONVERTED INTO LOSS. A DECISIVE CROSS OVER OF 4820 AND SUSTAINING ABOVE IT WITHOUT AGAIN FALLING BELOW IT MAY BE THE FIRST FEEBLE INDICATION OF SOME SORT OF END OR PAUSE TO THE ON GOING CORRECTION. OPTION TRADERS MAY BUY 2 CALLS OF 4900 TO 1 PUT OF 4700 FOR NEXT WEEK WITH HOLIDAY ON MONDAY.
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