Nifty: Daily Price Analysis

[scplindia]

Linkonji,

Try trading BPCL, HPCL, IOC, they are giving the best moves these days, You can be a millionaire one day and the next day a pauper, so severe is the moves on these stocks the last one month.

Cheers,
Prem Kumar

 

[saifisahab]

NCFM Certificate of Financial Beginners and BCFM certif. corporate governance

If somebody wants to take on rent the said certificates please contact me at 9716714606.

Thanks
Shammi

 

[PGDIMES]

Hi Linkon,

At the beginning of the month you had correctly pointed out that this month would be a news-heavy one. So I have kept my TV open (only for this month) while trading. My performance is comparatively good this month. RPower, TCS, Infy, CG, etc have helped me to a great extent.

My positions from yesterday- Long Nifty July @ 5401
Short Nifty August @ 5410
Long Tata Motors 820 CA @ 14.5
What's your opinion?

Happy trading.

 

[blackberry]

sudden SPURT in NIFTY seen. 5400 could become short term base

 

[AlokTewari]

Boss I am nowhere as techno savy as you are but I think tomorrow we should see Breakout one way or other. 50-60 points one should get intraday tomorrow if on the right side. So get your cannons oiled & ready to fire.

Cheers !!!!

Alok Tewari

Hi,

Next worst thing of being dead wrong, is being dead right:clap:
If one was on right side of trade today, can't complain about narrow range of Nifty.

Cheers !!!!

Alok Tewari

 

[linkon7]

Boss I am nowhere as techno savy as you are but I think tomorrow we should see Breakout one way or other. 50-60 points one should get intraday tomorrow if on the right side. So get your cannons oiled & ready to fire.

Cheers !!!!

Alok Tewari

only for you....

 

[simple_trader]

A couple of index perspective for next week and this expiry -

1. Last week NF found support around 5350-60. Below this weakness.

2. In my opinion real support is around 5300 NF. Two reasons for this - 5300 PUT has OI and market held on NF gap.

3. Closing above 5400 would be positive for market and can show some rally to 5500-5550 range.

4. Last swing support is around 5230 NF.

5. Some of the key stocks are over bought and RIL is range bound or has weakness. RIL all higher levels calls has OI. It is not able to get passed 1100 due to the same reason so far.

6. NF has snapped back from weekly BB.

Happy trading!

I always thought this swing would hit price range of 5500-5550 NF. I guess we are getting closer to it. Following are my views and expectation with NF in coming days.

- it is strongly advisable to book all longs around 5500 odd level.

- We will see good volatility around 5500, hence be careful in trading

- If you like, accumulate some August PUT at around 5500 NF, if market follow my understanding then, we can get a down swing upto 5100 in August Series. Key is, keep position size low. Or if you want to be more safe strategy, then go for PUT spread. Also please understand this will not be free money and it has risk like any other trades.

- We should see increase in volatility in coming days

- I think expiry will be below 5550, even possibly below 5500. Still this is not clear, we need to judge it as it unfolds. Basically, do not get stuck with long at higher level. Market will reverse all of a sudden.

- Over all i think we will see a extended period of correction in our market soon.

Happy trading!

 

[AW10]

Hi AW10,

Do you mean naked Put in this case?

not just naked put, but any other option strategy where number of shorts are more then number of longs..
ofcourse, my stmt is true for naked shorts too.

happy trading.

 

[AW10]

I'm having the worst time of my life this month... performance has nose dived... and as a dedicated nifty trader, i am now utterly frustrated...

We have a strong close and the very next day we sell off, only to regain the whole lost points with a minor gap the very next day... and Intraday, price freezes for 2-3 hours, punctuated by a sudden 1 bar out burst by a bored FII or DII and then everything becomes quiet... tossing a coin works better than TA with at least win probability is at least 50%


From 12th of this month, we have been stuck in a 50 point band... 5360 to 5410... Global cues, internal news , micro, macro... nothing seems to have any effect on nifty...

If these keeps up, then soon we will have to add nifty to the periodic table under the sub class, inert element...

Even poor old Udayan Mukherjee is tired of saying the same thing again and again for the past one month...

I am frustrated as hell... I even tried trading stocks for a few days, but they too have grown roots and are just swaying with the winds....

I wonder how everyone else is doing this month... please do share your experience...

linkon, more than usual number of my trades have also gone clean-bold in last 5 days. Divergence, mkt in 5th wave of EWave from low of 4800 (in my view), global mkts in bear territory, dropping economic indicators, etc were making me bearish, but those positions got stopped out 60/90min bullish waves, And Longs were closed last week.
I am building the position on one day, to reduce it on next day to manage the risk. Still not bullish on the mkt.. but got to do some more homework to play narrow range, high volatility, wave 5 scenarios..

Though not very surprised by such false breakout, cause they are easy to create in dull rangebound market and that's what we are seeing. Started shifting options to August series to give more time to the trades to work.

Anyway, this is also a phase of market.. but luckily it doesn't last long.. more extended it is, closer we are to the real trend.. just ensure that account is safe enough to ride the trend.

happy trading and cheer-up dear. Take a break and just watch the mkt for a day or two with no trades.

 

[SwingKing]

I wonder how everyone else is doing this month... please do share your experience...

Linkon,

Picture speaks louder than words. Hence, here's a shot of the mighty Niagra Falls taken by me from Skylon Tower. Notice anything ??

Water seems to be so calm (barring the few ripples you see) before approaching the drop . But look at what happens when water starts to roll down the fall. Niagara falls taught me a very important lesson. Just before things get worst, things seem merry. I knew this before, but when nature re-iterates it, it certainly feels good. This dull environment will pass by.

Tc