Dec 162011
Nifty(4746): Markets came within striking distance of breaking the 52 week low of 4639 but has seen a small bounce from 4673. Â So far it does not look like down draft has ended. May be the policy decision today will be the trigger for a sell off. The extreme short term technicals is a bit fuzzy but as far as I can decipher, it does look like 4843 or 4910 is the maximum upside if this relief rally continues.
No new trading bets was taken yesterday.
22 Responses to “Technicals Dec 16th 2011”
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Hi Jai, Your view on Re $ pls. Thanks
could not book out yesterday of hero still holding with sl of 1995 should i increase the sl or go with it
Hold with same stop.
Dear Jai
Can we reload the dollars or wait a lil bit more..
I think we need to wait a bit.
Jai
Your view on cipla and Tata Power.
Oops did not read your comment on Tata Power..Had shorted it today @ 93.2.. Still below so ll cover up.
Hi Jai,
Herohonda is at 1906 shall we reenter
Ajay
Hi Jai,
Hats off to you for todays nifty call.What next after todays deep cut in the Nifty.Will it be deeper fall down or can we expect some support at todays close?
Thanks. I think the blow up phase for markets are setting up for March. Will see intermittent bounces on the way. 4530 immediate support and then 4340 after that. Remember when Euro falls below 1.2867 the bottom for the world will fall out.
Cheers,
Jai
So is 4530 likely to happen in the next few trading sessions? And that is where we are looking to liquidate our 4500 puts.
Yes next 1-3 sessions should see 4530. And that is where we are looking to liquidate our 4500 puts.
hi jai,
i had not closed the yesterday trade of indus ind & hero still holding, and on receiving your call to reload i have just double the shorts, i hope that is fine, also please guide on the remaining shorts of siemen’s, nifty put 4500, i am also holding one lot LT short as per your view it has already reached 1100, should i cover or hold it till three digits what is the target price?
regards
Well done! 🙂 Im little scared about the targets – I would have said this when LT was breaking 1530 but 1000 itself was not believable then but I did say it. 700’s looks likely. Nifty 4530 might offer some relief likewise 1100 on LT
thanks jai, but what about the balance quantity of siemens and nifty put 4500, will you send sms regarding the same?
yes, thats correct, we are looking at 620 quickly for Siemens.
thanks
Dear Jai,
In stead of closing the 4500 put around 4530-60 levels …. wont it be more profitable to go long in nifty futures as we have 4500 put to protect which is totally free at cost to us…..in case nifty make bit more dip to say 4460-70 level which i know is impossible to figure out. If nifty makes bottom around these levels somewhere and rebounds 300-400 points it will give us more profit than the put price say 80-100 rupees. It will help us ride the upwave in nifty without fear…..
What do u say ?
Regards,
Vipan
You could be right. But understand that:
Further dip is also possible.
Bounce back quantum is indecisive.
Jai tries and calls what he feels are sure shots.
How we read into the markets and trade, other than in his calls, is entirely upto us.
Cheers and Happy n profitable trading.
Dear Agile,
I fully agree with you…… i am novice in stock trading that is why i asked Jai if this could be good
strategy to use …… since he hasn’t confirmed so i will go with him 🙂
Regards
Hi Jai,
Have a lovely holiday…..Do consumptions stocks llke Jubilant, VIP and Titan look good for a short. They seem to be one of the most over-owned sector in the market.
Regards
Yes, we will be looking for a low risk entry in Jan.