EOD Update FEb 28 2011

Trade with levels and not with hope.

Also Today we have formed a grave stone doji which is highly bearish.

What a day.The SL of 5288 NF never got hit and it was just profits and profits.Those who have played with levels have won the battle today.

For tomorrow 5345 NF is the immediate resistance above which again a revisit to 5420. 5288 NF is the level to be taken care of below which now carnage awaits till 5200 - 5197 where again buying can be initiated for short term bounce till 5370 -5420.

Atlast i can say that Only Lions Roar at Just Nifty Thanks to Ilango Sir
 

Budget Day Glimmers

It always happens that when opportunity knocks the door of  fortune  i close the doors .

This time too on budget day i will be busy at my Corporate office . Though would be involved passively but not actively.As it is budget day i have some levels in mind according to which i am going to trade . Just thought to put over.Remember to put Strict SL.

For Monday/Budget Day

Buy NF Above 5311 Target 5365 - 5399 SL 5288
Sell NF Below 5288  Target 5245 - 5195 SL 5311

Sell NF around 5399 - 5420 SL 5443 (Low Risk/High Reward)

Buy NF around 5195 - 5200 SL 5167 (Low Risk/High Reward)

Buy NF Above 5443 Target 5556 SL 5395 ( For this trade Wait for NF to sustain above 5443 with volumes)

Again telling Please Put Strict SL for Monday's Trade

Also Buy Tata Motors 1050 or 1100 March Put target 950 - 720.

Let Money Gods Rain on all of you. Best Wishes !!!!!

EOD Update Feb 25 2011

Capitulation and Volatile ...

The best days that a trader always awaits huge quantity and 30 point gain . Well that was the mantra for today. Comming to the point Monday is the most awaited event for Entire India and more important from the market point of view. As far as budget is concerned I don't think much is there for the corporates but it will be a cheer for the common man.Market too will be much volatile.So if you want to protect your capital and make profits then just manage the SL. On the budget day much will depend on SL. So be quick to place a SL and also be quick to book out. And the best Strategy not to trade. Well that's the think we cannot do.

For Monday too resistance lies at 5347 NF and above it a sharp run up till 5420 can bee seen. Later the market may decide.On the down side we have seen much capitulation today and that embarks that currently we are done with the lows.Any how a break below 5265 again may invite panic till 5175 - 5050.

The range for Monday is 5265 - 5556 . Be prepared for a roller coaster ride.

EOD Update Feb 24 2011

A dreadful expiry ..... Didnt expect so much hammering.

As such below 5370 -- 5258 was expected and NF manged to reach that level.Almost before budget every body is trying to exit. Is the budget going to give a break out. Monday will have the answers.

Well For tomorrow again 5167 is the level which may act as support for intraday bounce.But below 5167 we may visit 5050 levels. On the upper side the zone of 5358 - 5370 - 5427 NF will act as resistance where again selling can be done.

I would look for buying near 5167 - 5137 region for an immediate bounce.

Only one word --- Be ruthless with your SL

EOD Update Feb 24 2011

Procrastination is killing.

Again an Inside day . Or call it  balance day the OI data of 5400 puts and 5500 calls has made the range narrow.Expect any side ruthless hammering be it the 5400 put or 5500 call writers tomorrow. I am expecting again a spike tomorrow from 5410 or 5370 levels till 5505.

Much will happen tomorrow but i will be trying my luck in 5400 calls at 5410 and 5500 puts at 5510. We would get both moves tomorrow looking to the market movements of the last 3 days.

Still the Market is bullish and budget day would be a break out day for our march till 5620 - 5900.

EOD Update FEB 22 2011

History repeats again on the second Day ....

Not much to add as such as an inside day . But one thing to note that 5410 -5420 NF is a very strong support now and any move holding this level and moving above 5556 may work wonders now with 5620 in a single stretch.

For tomorrow too look for buying near 5410-5420 with SL of 5370 for targets of 5525 and much higher. Below 5370 chances are less but if happens then next stop is 5280.Just buy the lows as present.

EOD Update Feb 21 2011

The Heart Needs Reasons for .. That Reasons Dont Understand..May be the Pre-Budget Glitters

A well planned trading strategy would have given almost 200 points today . As expected NF bounced from the multiple support region after the morning sell off.What a Day.Today was a day when any body could have played blindly on the buy side. Though NF moved in the lower orbit in the morning the bearishness was not visible with the increased addition of 5400 puts. Even I Bought NF at 5436 and exited at cost. You can call it lack of patience. 5500 NF was a resistance but the last 30 min action makes us confused.At present 5556 will be a hurdle to cross above which again a swift move towards 5620.

For tomorrow 5470 is the immediate support where buying can be initiated and also above 5556 NF buying can be initiated for target of 5620.The range too has shifted from 5400-5500 to 5500-5600 in my opinion.

Raise the SL for positional longs to 5370 Now.

Weekly Update

Cigarette is Dangerous and that's the Reason i am burning it into Ashes .... so is the case with Trading.

Looking to the Fridays action after a small move above 5556 NF Just to trap the traders NF slipped in to negative territory just to take support at 5445 NF. Amazing symmetry This time too a bearish engulfing pattern (courtsey:www.icharts.in) and the last time also the same pattern happened at this level but this time NF just managed to move 30 point above the designated level.Multiple possibilities exist at this time. NF may retrace to 5370 then again move towards 5445 - 5525 level and then start falling. Or this time above 5556 NF may give a break out and rally till 5620 -5920.Or NF may move again from 5445 to 5525 and then move lower till 5370. Hola lot of confusions where will NF go and with expiry week a lot wild movements awaits. Tight SL is the need of this hour and the week as bulls and bears are going to fight for their supremacy.

www.icharts.in

For Monday too Multiple supports exists in the range of 5370 -5420 NF. So the strategy should be to buy around 5410-5390 with SL of 5356 for immediate bounce towards 5445 - 5525. Also if we open above 5445 then also we can buy with SL and Reverse mechanism with SL of 5420.

Positional Buy still holds true with SL of 5245.

NHPC has done the much awaited correction on Friday . It is a Buy for targets of 28 -30.

At last Dum Maro Dum ... Mit Jaye Gum ... Ya  Fir ... Mit Jaye Hum !!!

EOD Update Feb 16 2011

An Inside Day .....

Much to the frustration of traders today.One thing to note that NF is definitely facing resistance to move up and as such tomorrow we may break on the downside till 5410 -5370.It is at this level that the Daily overbought would neutralize and we would then approach 5620 and much higher by expiry.Also today was an inside day so any side break out would give wild moves.

For tomorrow too 5520 is the resistance and look for shorts with a SL of 5556 for immediate target of 5370. Remember the trend is up but this just a an intraday call for short term gains.Positional longs should raise the SL to 5245 now.

NHPC is good bet on the upside with targets of 28 - 30.

EOD Update Feb 15 2011

What Show of Strength Today Also.

Target of 5520 almost Done.Not much to add as the Rally continues.

For tomorrow 5520 is really a hurdle to cross and we would be retracing to 5460 -5410 -5370 -5350.Any how if NF sustains above 5520 then 5620 will be next stop. Still it buy on Dips near 5410 - 5370 region for the target of 5620.

Be cautiously optimistic till we close above 5620.

EOD Updated FEB 14 2011

After a Long time Glimmer of Hope on the Horizon ....

The bullish engulfing pattern has given nearly 160 points in return.What a Day or call it a Trending Day. Technically by today closing Again we are in the bull orbit and the bullish engulfing candle too has given a confirmation by closing above the channel resistance area of 5440 (JustNifty).Tomorrow just a little thrust by the bulls may take NF to 5550 again.Till now it was an expected rally and for tomorrow the Global cues have to be watched carefully.

For tomorrow above 5460 NF will face hurdle at 5520.I am expecting a retracement till 5370 - 5355 at the max from where again we would be targeting 5620+.The strategy should be to buy at 5355-5370 with a SL of 5245 on closing basis for the above mentioned targets.Below 5370-5355 Again buying may emerge at 5245.

What a surprise it would be if we expire around 5920 --- Fingers Crossed .

EOD Update Feb 11 2011

A Tequila in this Summer time with Lemon !!!!

As expected we have reversed now confirmation needed on Monday .

After a long time Hope make its way to the pavilion what we call the trading room. A bullish engulfing pattern ( courtesy : www.icharts.in ) has been made today . I don't remember when we had this pattern last.The best i remember is that last September 2010 (Chart at 5400 for reference) when nifty was at 5400 we had this pattern. Does the bell ring. We are approaching a new high of 6600-7200 in the near term. Dont know the time but definitely we are approaching it before June 2011.

As of now you may say that i have gone mad but the fact is that we are done with the lows today for 2011 and definitely we are going to scale a new high this time. There are some obstacles at 5560 and 5801 but definitely we are going to overcome it. Too early to say this but I thought i should share with you at this juncture so that we don't get trapped by the market.

For Monday the immediate resistance is at 5370 above which we would see 5444 NF.The obvious strategy at present is to buy the market with a SL of 5175 and have sweet dreams till June.

www.icharts.in

 

 

www.icharts.in

At Last 

Manzil Ho Na Ho ---- Mukaddar Apna Chalta Hai

Raah Baki Manzil Baki

Aur Safar Zinda Hai !!!!

Good Night ... Just Nifty Family

EOD Update Feb 10 2011

Let me take this opportunity to thanks All my JN mates for their wishes and blessings and their support through my journey  !!

Today We have observed some kind of consolidation with wild moves in a tight range.The trend is definitely on the verge of reversal.With today's action it has been proved.

For tomorrow too look for buying near 5220-5230 Nf with SL of 5190 for targets of  5310.

I will avoid any kind of shorts as of now as we are hovering in the oversold territory and VIX is giving and indiation of further downmove.

EOD Update Feb 9 2010

Volatility always increases when a trend is going to change ..

Today was such a case... After the morning low as expected NF rallied to 5347. After the high made NF stayed in a tight range and then collapsed to make a short term bottom. why a short term bottom because every time NF fell it didn't rally this time NF rallied from the low today with a power . So apt to say a short term bottom in place. A dead cat bounce is sure to occur from these lows and may be it culminates into a trend reversal . But too early to say that.

For tomorrow too expect a rally till 5380. So the strategy should be to buy the lows with strict SL of 5227. On the upside resistance at 5347 above which 5380 would be visited. On the downside not expecting too much as already oversold and a bounce is due . Any how if it breaks 5227 then 5169 is the stoppage for the carnage.

Polaris is still a good bet on the upside.

Intradsy Update Feb 9 2011

Aggressive longs gave a good profit .... Part booked and Rest Raise SL to 5310 NF

Polaris too target of 177 achieved ... Now buy Polaris with SL 168 Target of 214 - 228

EOD update Feb 8 2011

The Cup slips from the lips ........

Today action was such a one . With the break out of inside day of  yesterday low NF did a sell off with some hiccups. Where is the bottom ?? Difficult to define as all the supports are getting butchered down.

For tomorrow obviously we are touching the cursed level of 5270 NF.Aggressive buying at 5270 can be done with immediate target of 5345 MAX. Below 5270 Support lies way down at 5169 thats the reason i am expecting a bounce form 5270 level.

Lets hope Market obliges us.

Polaris too today made a high of 194 and slipped down. Still it is looking ripe for shorting with target of 177.

EOD Update Feb 7 2011

“There is many a slip between the cup and the lip, but only one slip between the cup and the ground.”

Watts

A Range Bound Day . Not much to add expect one thing that the intensity with which the fall started on friday nullified today with today action. The whole day sellers dominated the window but failed. On the contrary NF move higher today just to sell off at the end. Technically A doji formed on the charts which suggests indecision.

For tomorrow too 5370 - 5445 NF would be crucial trend deciders . On the upside break of 5445 would give immediate target of 5480 & On the downside break of 5370 would find support at 5350 and if it breaks then swift fall till 5270 NF.

Trade the above mentioned breakout.

Polaris too today made a gravestone doji look for shorting at the highs for target of 177 .

EOD Update 3 Feb 2011

The most beautiful thing thing about life is that it always comes with an element of surprise !!!

Today Was such a day. After the morning opening NF not even once looked back and marched ahead to close at the highs of the day. At 5530 I too shorted NF thinking that it may come down to check the supports at 5485 - 5444 But in vain.One thing to point is that today's rise was on average volumes. So a follow up move is required tomorrow to check the mendacity of bulls.As on closing basis NF has given a break out above 5530. Above all in the later part of the day a Massive call covering in 5500 call indicates an up move tomorrow. Global cues too would be watched keenly.

Shifting sideways from market Just got the news in that Crude is going to be traded in other currency and not in euro owing to Egypt problems. If  that's the case then at present i can only think that again it will get traded dollars. Implies that the demand for dollar will again move up. Also In Dow the companies producing crude have the highest weightage and the that's the reason that dow is performing great with the rise in crude prizes.So the scenario that i can visualize is that Dollar on Upmove --- Dow on Upmove --- A solid reason for FII to take money from emerging economies and again dump in their home markets.If this is the case then NF would touch 4700 or even much lower. Well this is just an assumption and prizes will tell what is in hold for future.

Coming back to Nifty  those who bought today may have raked good profits.Today the momentum was lacking after the break out. For tomorrow too 5545 is the resistance and break out in the morning would give a good buying opportunity for target of 5588 - 5620 . On the other hand break of 5410-5415 zone would again test 5485 - 5445 levels.
  

Intraday Update

NF is nearing resistance zone ..... Book fully at this levels and short NF with a SL of 5560
Targets 5480 - 5440.

EOD Update 2 Feb 2011

When the Going Gets Tough -- The tough gets going ...

All in all A balanced Day .... I will term it as consolidation only . Nifty along with good Global cues manged to Gap up and remain in the upper bracket the whole day .But the positive momentum too didn't help nifty to march ahead. Is this weakness ??? I would say no because as we look at the picture today there was no aggressive shorting in the market . Simple logic says that at the peak of 5510 today the buyer was not present and that's the reason that when the buyer is not present by virtue of the nature of the market it apparently falls.

Today was a case where no aggressive shorting nor buying was visible.An inside day.Thus any side break out would give a very powerful move of almost 100 points.

For tomorrow we can look for 5412-5410 region on the lower side and 5530-5540 on the upper side. Trade the break out .Between this range is a risky affair as it is a no mans land. Vice-versa aggressive players can take long with a SL of 5410 for target of 5485 .5485 NF is the level from which we broke today so it would play a major role tomorrow.

All in all in my opinion i expect a rally till 5620-5700-5750 . Later the movement of market will decide where we are heading. In simpler terms a bottom is in place with a 3 days of consolidation.

Don't Blindly short the market.