Incisive Nifty Trend Analysis

[timepass]

The only asset class I will be long and picking on every dip is USD/INR.

Can you expand a bit on this ? Where do you see the USD heading and the time frame.

 

[a1b1trader]

Any rise sell, Nifty target is intact 5235.10 for sure. The fall will be vertical straight cut from 5618 to 5480.......5235.10. Just watch ! ! ! ! !

Hi Nirahjan
Though I do not doubt your study.
But will you please elaborate the basis of your study/thinking.
And the time frame.
Thanks

 

[Option.Trader]

@OT, I had posted this message few weeks ago. It was no surprise to me to see the rally from the oversold levels. I was personally long in some of the high quality stocks which I had suggested in one of my earlier messages to the members. It is time for me to book profit and stay in the sidelines until I spot the next opportunity. The only asset class I will be long and picking on every dip is USD/INR.

28th February
@DSM, In this leg of the move , I don't see Nifty falling below 5590. Close to 5590-5600 I see a sharp pull back in our markets to the extent of at least 4-5%. Both Bank nifty and Midcap index are extremely oversold and this will lead the rally from the front. Going long close to 5600 will be extremely fruitful. Will analyse the next leg of the fall and post it here once the relief rally gets over.

Agree with your view... need to take points in a false rally, true rally whatever the situation... like they say in cricket... runs on the board matter not how it comes... Not quite sure on the top being reached yet.. .options data dont indicate exhaustion being reached yet... though FII have booked profits on both the days... unless we see a build up on a call, i wouldnt bet on imminent downside

 

[prada]

Strong support exists at 53 and I see it heading above its life time highs and beyond by the end of this year. I am extremely bullish on this pair from the long term perspective irrespective of the short/medium term movement. I'm an aggressive buyer on every dip.

Can you expand a bit on this ? Where do you see the USD heading and the time frame.

 

[anup]

@prada: Your view on nifty for , next week

 

[SEVEN STAR]

well as the saying goes... When the even the milkman says that a correction is on the cards, you are sure to get a rocket ride up... This bull rally has taken everyone by surprise and though prada may say its a false rally... It still gave close to 300 points from the low... I think we need to take the points and go home...no use predicting the high and low when it isnt giving you points... We should ride the horse and dismount taking home the profits... Everyone wins

tf......changes according to convenient.........
If you look at any trading component has to come down or go up but at what time frame is the main criteria.......hope next posting may define tf.......

 

[prada]

Initiated fresh shorts in NF and BNF. Stop at recent highs(spot levels). Not much of a risk especially since the extent of downside is considerable. As I've already discussed in one of my earlier posts 5970 seems to be the top for Nifty for the rest of the year. Infy short trade posted by my earlier is panning out quite well. Recent spike by it to 3000 was an excellent opportunity to add further shorts.

 

[Option.Trader]

Initiated fresh shorts in NF and BNF. Stop at recent highs(spot levels). Not much of a risk especially since the extent of downside is considerable. As I've already discussed in one of my earlier posts 5970 seems to be the top for Nifty for the rest of the year. Infy short trade posted by my earlier is panning out quite well. Recent spike by it to 3000 was an excellent opportunity to add further shorts.

What levels of SL do you use.. if you had entered a short as you said yesterday, it would be in deep red... though the overall trend is down, these swings could easily result in a 100 points loss and unless you are playing 1 lot, these would tend to clean you out in no time unless you are super duper rich ... which makes me use the oft repeated quote... Only way to be a millionaire in stocks is by being a billionaire in the first place .. pun intended

 

[prada]

My SL is clearly mentioned in my post. Recent high of 5971 (spot) on a closing basis. I wouldn't bother about day to day movement. Above 5971 I would hedge the position with call option and ride the brief up move.

What levels of SL do you use.. if you had entered a short as you said yesterday, it would be in deep red... though the overall trend is down, these swings could easily result in a 100 points loss and unless you are playing 1 lot, these would tend to clean you out in no time unless you are super duper rich ... which makes me use the oft repeated quote... Only way to be a millionaire in stocks is by being a billionaire in the first place .. pun intended

 

[Option.Trader]

My SL is clearly mentioned in my post. Recent high of 5971 (spot) on a closing basis. I wouldn't bother about day to day movement. Above 5971 I would hedge the position with call option and ride the brief up move.

That's almost a 150 pts diff before you enter a call to hedge your position... why not come out before that and enter at higher levels... 200 pts swing will usually take out the invested amount in no time in case of a bad draw.. interested in knowing the philosophy behind the trade..