Nifty technicals

[findvikas]

I am out .. no positions overnite ....

I decided to stay in.. current position is 1 MINIFTY short along with 2 lots 4900PE.

UK is down after their bank failure and US futures changed their colors to RED just after we closed out. Other Asian markets which closed early was not able to react to UK's action and should help us tomorrow morning to open RED. Lets hope everyone make money

 

[ranj_2k]

I have short Mininifty @ 4950 and long @ 5025 in Dec and Jan series. What is your advise.

 

[findvikas]

Short Dec and long Jan ? Why? What is the strategy?

 

[findvikas]

Technical for 01/12/2009

LTP: 5032
Trend: Down
Stop Loss / Reversal (Close Above): 5108.15

Previous trend: Down (Started on 26/11/2009 below 5103.55)
Total points in the trend: 71

It should close below 5005 to keep in the trend... the SL for tomorrow will be 5005 and if I have to predict the today's close then it will be below 5005 level.. lets see

 

[MurAtt]

Bot 2x5100PE@150/-. Extremely strict SL ... Mkts may just blast in either direction .....

 

[findvikas]

So far no professional money visible on the volume chart but OI increased to 4% & 9% on NIFTY & MINIFTY respectively. Second half will be interesting when FIIs come awake from sleep and dump it all

I am holding my position as I might not get much time to trade but put a SL order @ 5108

 

[findvikas]

Bot 2x5100PE@150/-. Extremely strict SL ... Mkts may just blast in either direction .....

upside is capped with stiff resistance but downside may be not.
Dubai fears have taken a hide behind the good sentiments all around..

Dubai is not over yet..

http://economictimes.indiatimes.com...ikely-for-Dubai-World/articleshow/5285604.cms

http://economictimes.indiatimes.com...ranteed-by-government/articleshow/5286235.cms


EDIT: Let Dubai World go bankrupt and I will buy a villa at Palm Beach

 

[findvikas]

whatever happens.. I will see in the evening.. see ya guys... got some work to do

 

[ranj_2k]

I have covered short position and now one minifty long @ 5135. What is outlook for tomorrow.

 

[findvikas]

Just came back home to know that I lose my money on MN short from 5040, I got SL triggered and push me out at 5108, at the moment I have MF long taken at SL level 5108

I continue to hold 2x4900PE and had a limit order executed for 5100PE at 120 (ltp 116)

Today markets were quite volatile and volume chart had big spread bars... it could be end of rally as even with all those sentiments outside.. RIL taking charge we could not cross 5138 which was last week's high.