Charts for the Day

[Bewinner]

Anil..

Nifty closed below 5575..do u still hold the same view...and will it go up from here? Waiting for your hourly view.

 

[anil_s_trivedi]

Dear Friends,

Aggressive plays recommended for last week were quite a successful, and many hitted the targets and reversed from there itself.

Some are still good to hold, some need to get rid of, if not exited.

 

[anil_s_trivedi]

Anil..

Nifty closed below 5575..do u still hold the same view...and will it go up from here? Waiting for your hourly view.

Dear Bewinner,

As expected yesterday we acknowledged short term fixed at 5535 and it may move higher and aggressive player may go long. It did hold 5550 and resisted at 5575 levels.

As of now, Hourly short term trend is still up, and is supported by 5min +ve divergences.

Weekly closing is no good, and i already warned on monday itself, the possibility of higher timeframe interfering to show its weakness. It asserted the same from 5750. Mark these levels these are real levels.
So in gist weekly trend is still down, with daily too down.

On monday,

A intraday strength first sign of strength will be sustaining above 5545 levels.
A move above 5570 will confirm it for positional too, but till 5595 zone cleared and hold off, it will be sell on rallies only.

Remember our long term support zone at 5605-10 is a crucial one, and market rallied first time testing it, but failed to hold off second time. I will for my positional longs will mark these level for this month. Unless it moves above and holds it, it will be always susceptible to fall.

So, watch 5570 / 5545 on monday. It will give clues.
Any longs now need to have stoploss of 5540.

So hourly short term uptrend, might resist at 5570, and if cleared again at 5595 zone. So understand there are slew of resistance zone in these region of 5595-5610.

Spotting a bottom is fun, but when real money is involved its a serious business. We never attempted to find a bottom when price fell from 5750, we only did it yesterday, that too when there is a momentum fall slowing down. Infact when nifty was near to 5610, we warned that hourly weakness not going to hold this time. And it did obliged.

 

[anil_s_trivedi]

Infosys showing weakness and failed to hold of 2820-35 will invite 2730 minimum on cards. I should have warned earlier, i got weakness smelling at 2915 itself.
2945 is a resistance zone, until it gets of with these its a weak case.
Watch out for lower levels.

ITC again a serious weakness this time if i am not wrong. Again i got weakness at 306 level itself, missed good trades. The trend is shifting to weak side, if i am not wrong 275-278 levels on cards.Failure to hold of that zone will be a suicidal for ITC holders.Bounce till 306 will be seen by me as corrective bounce only. Lets see if it happens or goes down from here itself.
As Cigarette smoking is injurious to health, and it burns life slowly, it seems now is the time!

Really i should have tracked stock like these when nifty broken 5610 zone, these stocks given almost 10-15 % returns. May be next time, we will surely look into this.

 

[Bewinner]

Thanks Anil...
Now I think it got cleared to me that long only be taken at 5605-5610 level..and not only that if this level holds then only....

 

[Esse]

Hi Anil,

As I had already mentioned I was tracking these two scripts minutely but the only difference is was bullish on both of them. I was over bullish in ITC but since you were not, I settled for a 320 call at spot price 308. Else would have taken a future long contract without a SL. Got saved. I have requested you for your opinion on the infosys option trade strategy with the result in view next week. Do you think it will work?

Thanks and regards

Infosys showing weakness and failed to hold of 2820-35 will invite 2730 minimum on cards. I should have warned earlier, i got weakness smelling at 2915 itself.
2945 is a resistance zone, until it gets of with these its a weak case.
Watch out for lower levels.

ITC again a serious weakness this time if i am not wrong. Again i got weakness at 306 level itself, missed good trades. The trend is shifting to weak side, if i am not wrong 275-278 levels on cards.Failure to hold of that zone will be a suicidal for ITC holders.Bounce till 306 will be seen by me as corrective bounce only. Lets see if it happens or goes down from here itself.
As Cigarette smoking is injurious to health, and it burns life slowly, it seems now is the time!

Really i should have tracked stock like these when nifty broken 5610 zone, these stocks given almost 10-15 % returns. May be next time, we will surely look into this.

 

[anil_s_trivedi]

Hi Anil,

As I had already mentioned I was tracking these two scripts minutely but the only difference is was bullish on both of them. I was over bullish in ITC but since you were not, I settled for a 320 call at spot price 308. Else would have taken a future long contract without a SL. Got saved. I have requested you for your opinion on the infosys option trade strategy with the result in view next week. Do you think it will work?

Thanks and regards

Dear Esse,

I had till date never played results with options / futures. And playing infy needs good idea, what you are trying to do is ascertaining infy direction post results, and many believe it gives 7-10% swing on either side. So ppl buy both calls/puts.

Telling you frankly, i dont know how to play the same. Will ask some trader friends, if they have any idea. Its more of quantitative analysis, and less of technical. Will look into it, surely.

 

[Esse]

Hi Anil,

Thats what I had mentioned in the PM. 12th is the Infy results. This coming week the premium of both the calls and the puts would be on the higher side. So considering that cmp is 2850 we take equal no of 2600 puts and 3200 calls. Assuming that the price movement on the 12th or 15th(12th being a Friday) would be approx 10%, one of the options would become 0 and the other would give a windfall. As you have correctly mentioned there is no technical in it, just quantitative analysis. So overall there seems to be a chance of making decent money. Now I am not sure of this theory myself so wanted to discuss it with you. In case you feel that these should not be posted in your thread (it being technical) pl ignore. Thats the reason I had sent you a PM

Thanks and regards

Dear Esse,

I had till date never played results with options / futures. And playing infy needs good idea, what you are trying to do is ascertaining infy direction post results, and many believe it gives 7-10% swing on either side. So ppl buy both calls/puts.

Telling you frankly, i dont know how to play the same. Will ask some trader friends, if they have any idea. Its more of quantitative analysis, and less of technical. Will look into it, surely.

 

[anil_s_trivedi]

Nifty alert:

If all goes well, nifty is in making of bottom on intermediate timeframe, and in the process of moving upside.
Moving above 5560 is first sign of it.
Else failure will invite lower levels.

 

[prabhsingh]

Nifty alert:

If all goes well, nifty is in making of bottom on intermediate timeframe, and in the process of moving upside.
Moving above 5560 is first sign of it.
Else failure will invite lower levels.

Is it advisable to initate Short positions if Nifty fails to move above 5560 and closes below 5550?