Road to 5400 again

[praveen taneja]

Hi PT,

nifty is unable to move up. When you say "Jai mata di" means, Is it only for today? OR Bull ralley is coming to end and we are now seeing U turn on Nifty for next few days.....

hi Hunk,

What are your findings on charts now?

Bro I just wrote what I saw and now support are 5240 and 5208 where I think its a good level to enter longs as FII were on a buying spree for past many days and I see no reason for them to book loss only bcoz nf lost 77 points today:thumb:

 

[singhboy]

YM is symbol for DOW Jones Futures and chart is realtime Dow Jones Futures intraday 5min chart live.

It is trading below 10000 level currently, which is not good sign. FTSE is also after opening gapdown, kissing around 5000 level.. another not so good sign.

In my view, take DOW futures movement with a pinch of salt, during non-US trading hours. The volume is really low when US is not trading...and we all know how significant is volume in interpreting price action. When Biggies wake up, the price range created at low volume collapse within seconds.

Happy Trading

Sir its not recommended to take overnite position in nifty watching pre market dow futures due to reasons u mentioned but during mkt hours they have huge impact on nifty movement. When dow futures make new high, nifty make new high. When they make new low, nifty makes new low. And once I seen sumwhere pre mkt dow future volume was 15000, I dont knw if this is low or average volume for dow but I guess it will be low. I have lost the link where volume was shown along with live price, will post if found again.

 

[HULK]

Today in morning session we can still see Nifty go down and possibly break 5200 mark ?

 

[rrmhatre72]

Today in morning session we can still see Nifty go down and possibly break 5200 mark ?

How does it look now?
It seems market has absorb Dow shock.......
Is it inidcate that 5200 will be strong support for long term??

 

[rajeabc]

How does it look now?
It seems market has absorb Dow shock.......
Is it inidcate that 5200 will be strong support for long term??

Europe will open in RED and then can Indian market be in green when other asian markets are already down.?

 

[praveen taneja]

Bro I just wrote what I saw and now support are 5240 and 5208 where I think its a good level to enter longs as FII were on a buying spree for past many days and I see no reason for them to book loss only bcoz nf lost 77 points today:thumb:

taken 5200 call on gap down and now covered that and now taken 5300 put god is gr88888:clap:
sl is 5305 or u can say 120 on 5300 put

 

[rrmhatre72]

Europe will open in RED and then can Indian market be in green when other asian markets are already down.?

I was expecting gap down for nifty & stay trading around 5200 level for whole of the day.....
But market is behaving differently.....
Can't predict what will happen after EU open....
But still I am holding my 5400CE with 50SL

 

[praveen taneja]

I was expecting gap down for nifty & stay trading around 5200 level for whole of the day.....
But market is behaving differently.....
Can't predict what will happen after EU open....
But still I am holding my 5400CE with 50SL

If i was at ur place must had booked call 5400 if spot struggle to cross 5290 zone and buy ..................Jai Mata Di:clap:

 

[saivenkat]

No signs of recovery.. currently nifty at 5250. My view is tomorrow there will be a narrow range of trading..

As i said yesterday, Nifty is oscillating in the 30 point range.. Currently at 5274.

 

[rrmhatre72]

If i was at ur place must had booked call 5400 if spot struggle to cross 5290 zone and buy ..................Jai Mata Di:clap:

Hi PT,

Your thoughts after EU open......