Trading with PT style

[praveen taneja]

Nikkei, Hang seng and other asian markets all up by more than 1.25%.........

Dow yesterday closed upwardly by 0.53%.........

Indian market today.........anybody's guess......

Regards
Chachi

Mkt is up n still we are losing OI mkt losing strength and upmove is purely short covering i would suggest avoid put writing w/o hedge this upmove is pure short covering bulls r lacking conviction to take it higher and bears r lacking conviciton to drag it lower so niether side is interested in taking a directional call... from 68-78 we r here for 30 min now wierd reaction to gap up..that too to a all time high levels...:thumb:.

 

[chachi]

Mkt is up n still we are losing OI mkt losing strength and upmove is purely short covering i would suggest avoid put writing w/o hedge this upmove is pure short covering bulls r lacking conviction to take it higher and bears r lacking conviciton to drag it lower so niether side is interested in taking a directional call... from 68-78 we r here for 30 min now wierd reaction to gap up..that too to a all time high levels...:thumb:.

Hi Praveen,

Thanks for your concern. Writing options is not for me........

You cannot expect a continuous rally after high point as both bulls and bears will be fiercely fighting to take control. At present bulls have the back up of world markets.

Nifty will be dragging for some time may be upto 12.30 or so then will take a direction. Possibly upward

Of course tension will be high at high point.....

 

[praveen taneja]

Hi Praveen,

Thanks for your concern. Writing options is not for me........

You cannot expect a continuous rally after high point as both bulls and bears will be fiercely fighting to take control. At present bulls have the back up of world markets.

Nifty will be dragging for some time may be upto 12.30 or so then will take a direction. Possibly upward

Of course tension will be high at high point.....

every signal is there... for this up move to terminate but its not its marching forward...
so I am staying on the sidelines...till this short covering ends...in between can play for few thousand Rs:rofl::rofl:

 

[Sunny1]

mkt is up n still we are losing oi mkt losing strength and upmove is purely short covering i would suggest avoid put writing w/o hedge this upmove is pure short covering bulls r lacking conviction to take it higher and bears r lacking conviciton to drag it lower so niether side is interested in taking a directional call... From 68-78 we r here for 30 min now wierd reaction to gap up..that too to a all time high levels...:thumb:.

and one more thing. In spite of this all time high we are lacking volume.

 

[praveen taneja]

Volume in market is drained out & big cornered positions have been sqr off in these bull run Short covering in Nifty Reliance GF SBIN and Hindalco
Fresh Buying interest in DLF HDIL Tata Steel & JSW Steel
People are so bullish that not hesitating to write next mnth even 4900 puts God pls save them below 4848 mkt is highly negative now

 

[Sunny1]

Will it cross 4900 today?? What are views your views?

 

[praveen taneja]

yday according to me nifty was down 80 point if u leave alone gain of RIL today RIL not crossing 2200 which is good res for it above that only nifty can make 4900+

 

[praveen taneja]

Taken 4800 PA AT 70.25 ME EXPECTING A FALL.. I M TRYING HARD BUT CANT SEE ANY UPMOVE..!! I MAY BE WRONG.. BUT I CANT SEE ANY POSITIVE STOCK !!! STUBBORN !!BUT ITS A REALLY REALLY SCARY MKT

 

[Sunny1]

Mere man ki baat chinlee . Really its scary. M also thinking to buy put.

 

[chachi]

Even though nifty is dropping CE is not coming down much and PEs are not increasing .... What does it indicate?