Nifty Key levels for day traders

[linkon7]

Explanation for sell at 4907 tgt of 4890
and
Buy at 4889 tgt of 4920

http://yfrog.com/3m23321305p

on the hourly charts today, nifty has made a double top at 4929.70. Watch out, may be risky to stay long. I said go short last time, it did touch a low of 4890 and pulled back. and once fell to 4890 levels. If it breaks 4890 then further downside possible. then can stay short with a SL of 4931 revised.

the TBQ and TSQ ratio has changed dramatically...

bot 5000 call and 4800 put for a combined 58 points

 

[findvikas]

It will be fun to watch how Thursday and Friday going to pan out... after this perfect doji

Few data points...

1M Future - 5point discount
2M Future - 7point discount
3M Future - 10point discount

Sold current month, bought April with a locked 5points profit... the idea is not to arbitrage but hedge myself

 

[varun2504]

My targets hittttttttttttt

Can any one suggest closing pattern would beeeeeeeeee

 

[findvikas]

My targets hittttttttttttt

that calls for a party :eat::cheers:

 

[linkon7]

expecting a round of short covering... now... to retest the previous high of 4949... thats the supply zone...an if thats broken then will have to decide next course of action...

EOD charts shows CCI at 109... meaning momentum is broken the minor resistance and should go up... but established trend is down and a reversal from here can convert this pattern to a Gb100 and thats a trend continuation pattern on the down side...

Objective of buying the 4800-5000 straddle is to lock positions for tomorrow. Weekly close above 4950...will make next week very positive... a weekly close below 4870 makes it a continuation of the downward spiral...

 

[findvikas]

Tomorrow's Nifty Future should open around 4885-4880 to retrace back to where it started

last minute strategy... bought one 4900PE

 

[linkon7]

Closing strategy:

Buy NF
sell 4900 Call at 69...

 

[linkon7]

Weekly TF suggest a strong buy now...
so far weekly bar made a low of 4778 and a high of 4927 and is closed at 4902.

Only concern is the budget and thats a big uncertainty...

 

[AlokTewari]

Weekly TF suggest a strong buy now...
so far weekly bar made a low of 4778 and a high of 4927 and is closed at 4902.

Only concern is the budget and thats a big uncertainty...

Hi,

As I had said in some other forum here, Feb series will be up in anticipation of budget so shorting Feb series will be loss making. However I feel March series may see sharp fall just after budget as nothing worthwhile is going to come out of budget for industry while stimulus maybe withdrawn in phased manner. My guess is we may see close to 4500 in March series before pull back starts for new highs in next few months.

Cheers !!!!

Alok Tewari

 

[linkon7]

Hi,

As I had said in some other forum here, Feb series will be up in anticipation of budget so shorting Feb series will be loss making. However I feel March series may see sharp fall just after budget as nothing worthwhile is going to come out of budget for industry while stimulus maybe withdrawn in phased manner. My guess is we may see close to 4500 in March series before pull back starts for new highs in next few months.

Cheers !!!!

Alok Tewari

My view is, everything before a mega event, is built into the price... The fact that we didnt have a pre-election rally means nothing much is expected from the budget. Most probably we can expect it to be a non event.

Now despite the huge sell off from the FII, no major damage was done. The sell off can also be seen in the chart. Whether we close above 5000 or below 4500, only time can tell as price movement is always random.