Daily market Views

[ritwijmahant]

31 AUg 2010

Morning all.. AS per expected on friday.. Nifty andBSe broke thru my support levels and crashed.. a recovery back to those levels of 5450 and 18160.. wasnt sustained and it crashed again yesterday. Now watch for 5360.. a crucial support for Nifty.. break of which will open dors for 5100 and 16800 in BSE..

JPY did gaive rise above 85.50 as per discussed in 26 Aug view and crashed from there.. Although bernanke talked up teh economy with hopes of 2011 on friday.. but Stocks ignored his plea next day.. cos as per market thinking.. 1.6% growth of economy is still lousy.. look out for break of 10000 and 1040 in Dow and SnP 500 index today.. that happens.. my views go strong..

carrying two strat positions now.. Euro short at 1.2720 average.. and INr long at 46.65.. will add to INR if breaks above 47.00.. and Will add to euro shorts if breaks below 1.2580.

happy hunting.. crash and burn coming up for all risky assets soon..

 

[ritwijmahant]

31 Aug

Intraday calls..
Sell euro 1.2695, t/p 1.2635, s/l 1.2735
Sell GBP 1.5505, s/l 1.5555.. T/p open
Sell JPY 84.65, s/l 85.15, t/p 83.75
INR range 46.90-47.10 for the day..
OTC spot levels

Cheers

 

[ritwijmahant]

possible INR triple top at 46.95 broken.. look for sustained break.. target is 47.15.. intraday long at 46.99 OTC level.. small position.. will add at 46.93/94... target 47.14.. s/l 46.85

 

[ritwijmahant]

for those of us who take happiness at others losses..most of the traders that i know... this one takes the cream..

pboc gov zhou xiaochuan has defected from china after losses in the central bank's US Treasury portfolio....clearly no comment out of beijing yet. Rumors have circulated in China that Peoples Bank of China (PBC) Gov. Zhou Xiaochuan may have left the country. The rumors appear to have started following reports on Aug. 28 which cited Ming Pao, a Hong Kong-based news agency, saying that because of an approximately $430 billion loss on U.S. Treasury bonds, the Chinese government may punish some individuals within PBC, including Zhou.


http://thefastertimes.com/world/201...china-rumors-of-the-central-bank-just-defect/

 

[ritwijmahant]

Nifty.. first target of 5360 almost achieved.. booked part profits here..

but still holding short positions.. will like to add shorts again.. will update on tardes..

For teh month of August.. booked 410 points in Nifty trading.

good day

 

[ritwijmahant]

Look for BSE close below 17860 in 2 houlr charts.. candle will end at 1 pm.. if closing below that.. betting teh farm and going wholeheartedly short and buying USD/INR