I think the basic call i gave at close of pre muhurat session was we will gap up touch 5780-5800 and we will most likely not sustain.
Above 5710 , 5780 was justified however the level was only hit in spot and not futures. Entry advised was 5690 nf and then a possible pyramid above 5710.
During the muhurat session nifty spot moved perfectly and touched 5780, however
it seems futures players were already aware of res at 5780 and spot couldn't hold the level for even 1 min with nf not even going above 5710.
So now looks like more damage coming.
Be wary of the 5 year bull market cycles which are being completed.
Bias shifts to short side below 5650 , 60:40 once again.
The hedge given was ster.
initial call short at 1040 or below 1020 sl 1060/1049 target 1000/980/930.
Closed at 988.
Might weaken till 930 if bears keep pushing.
Friday, November 09, 2007
Thursday, November 08, 2007
Happy Diwali
Happy diwali to everyone.
I am hoping bulls who had the guts to form support for nifty will get a
target of 5780-5800 with a gap up. Anything beyond that is a bonus.
critical level to regain uptrend+momentum = 5860-5885.
View on trend neutral.
Trading long and short daily.
I am hoping bulls who had the guts to form support for nifty will get a
target of 5780-5800 with a gap up. Anything beyond that is a bonus.
critical level to regain uptrend+momentum = 5860-5885.
View on trend neutral.
Trading long and short daily.
Wednesday, November 07, 2007
Looking to buy, pure timing no levels
Look to buy,
optimal day for btst is always session prior to muhurat trading.
volumes on muhurat trading are usually tiny but we always gap up.
almost a free 1-2%.
Res at 6000 nifty and 20k sensex were pointed out earlier. At 6000 I suggested shorting/hedging for most people. I myself have been shorting something almost every session for the past 5 sessions.
But today i'll look to play with a mildly bullish bias.
Keep in mind the buying is to be done with a goal of btst.
So buy towards the end of the session.
These days my bias is only 60:40 never 100:0.
The previous hedge IT sector/exporters were reccomended on the 31st of october.
CNXIT opened at 4800 on 31st and on 7th it closed at 4500
loss of around 6%
31st oct nifty opened at 5870 and on 7th nov it closed at 5773
which is a loss of around 3%.
So would a proper hedge have worked?
I think so.
optimal day for btst is always session prior to muhurat trading.
volumes on muhurat trading are usually tiny but we always gap up.
almost a free 1-2%.
Res at 6000 nifty and 20k sensex were pointed out earlier. At 6000 I suggested shorting/hedging for most people. I myself have been shorting something almost every session for the past 5 sessions.
But today i'll look to play with a mildly bullish bias.
Keep in mind the buying is to be done with a goal of btst.
So buy towards the end of the session.
These days my bias is only 60:40 never 100:0.
The previous hedge IT sector/exporters were reccomended on the 31st of october.
CNXIT opened at 4800 on 31st and on 7th it closed at 4500
loss of around 6%
31st oct nifty opened at 5870 and on 7th nov it closed at 5773
which is a loss of around 3%.
So would a proper hedge have worked?
I think so.
Subscribe to:
Posts (Atom)