BraViSa TempleTree-India Market Calls

A New thread to have the calls of Indian Stock market, both cash and futures.

Nifty: For today short between 4985-5050 range with a stop of closing above 5050 and breach of the days high. Target for this trade is 4825.
L&T: Sell above 1488 with a stop of close above 1542 and a target of 1369.BPCL: Sell above 580 with a stop of close above 615 and a target of 513.

With Global market taking into very strong bearish momentum, we are likely to go in line with them. Nifty has already taken direction, taking resistance and 4950 levels. All chart patterns indicate further downward momentum. 4540 is likely on breach of 4750.
Hold shorts firm for futher sweet gains on Nifty.

Calls for the day:
ONGC:Short at 1140, stop at 1154 for a target of 1069.L&T: Short @ 1480, stop 1545 for a target of 1360.

Hello DSR, Thanks for starting this Thread!! Had a query... you seem to have a bit different approach than the normal Calls we get. :
I am talking about "Selling above"!!!
We are used to getting calls for "Selling Below"!!

Kindly do elaborate on this aspect whenever u find time!! It seems to be selling on a pullback or selling at strong resistance!!!
All the best!!

Dear D S Ramesh - you Nifty short call did not trigger since Nifty did not go above 4985 yesterday. I am guessing you are asking those traders to hold shorts who already had shorts....

It will be good if you could post which call actually got triggered and which one lapsed.

Cheers
SH

Well, Thanks for your query rkkarni.

Selling short above is a call to sell if the market goes beyond the called price. A place of resistance to be precise. Getting entries in this way gives us an opportunity to hold any position with lesser risk exposure. But, on the other side, pull back trades like this needs high strength on the charts, else you will meet with whipsaw trades and erode capital.

With any technique you use, assure safety to capital. Only then will you have the chance to trade the next opportunity.

Intraday Nifty short call which we gave was not triggered as the market did not reach our called price levels. While the Nifty is on the short from 5230 levels on the daily charts from 19th january.

With the market in a strong bearish mode, it is well known that most the traders will be short the market. The hold call we gave on the Nifty was for the daily trades. We started this thread well, long after this daily chart trade.

We traders have an urge to close positons while a small profit or even a fixed target is achieved. If the position we are holding gains strength, while close to the target and we exit. It will become a pre-mature exit and we would have lost much of the actual profits.

Trading is a probabilities game, where 70% of our trades have the chance to whipsaw, holding on to a winning trade till the trend gets to a close will add to our gains and go a long way in adding more strength to our equity curve.

Thank you, "Tradewithhunter" for giving me this opportunity to share my views.

Market Review for the Week ending 05 Feb 2010.

Whole market is weak, showing strong downward momentum. Nifty has given back the gains made from 10 long weeks of marginal up moves in a short span of 3 weeks. Exceptions are stocks in the Oil & Gas and Reality sectors. Nifty is likely to find support in the 4540-4320 range, but before that there is a likely pullback. Daily charts show minor exhaustion in the prevailing downtrend. A pull back to 4950-5000 levels is a good possibility.

At those levels we have another opportunity to short the market for a next big move to the support zone. FMCG and Healthcare stocks are likely rally candidates along with Oil & Gas and Reality stocks which are in the sideways market, which will enable Nifty to reach resistance zone.

With Union Budget; a big event just few weeks ahead, market will hold range at resistance levels, take directions from budget and resume the bearishness.
Trading on the long side of the market needs target exit. Take first signs of weakness to exit positions on the long side.

Bulls climb by the stairs while Bears jump out of window. Bear moves should be cashed at the right time.

Stock and futures calls for Monday

While the whole market is in bearish mood. Many front running metal stocks are yet to have any weakness, there is a further rally likely to breach previous high levels.

Hindalco: Buy above 143.00. Stop at 128.20 and a target of Rs. 167.00.

Sterlite: Short above 772.50. Stop of closing above 805 and breach of high for a target of 708.00

Nifty:
Daily position: Short above 4877.25 with a moving stop of 4992 and a target of 4593
Intraday Position: Long above 4758 with a stop of 4687 and a target of 4995. Target may vary as the market starts moving. We will update changes.

What's happenning to Nifty?

Our Intraday Nifty call was triggered long and promptly triggered stop too. Stop moved up a little to 4691 and the position lost 68.00 points in total plus commissions.
With pretty strong bullish divergence on 60 min charts, there was a next buy signal immediately at 4716, with a stop of 70 points. This position though open on today's closing, has lost most of it's gains.
Stop likely to move up in the coming sessions.
we shall keep positions updated.
Hindalco on the Daily long has got filled too. Even this position is trailing today. The strongest among the metals pack should see good moves and lead the nifty's rally to resistance zone.

Nifty Takes direction

After holding to range for a day & forming key support, market rises up giving good strength to our intra day long call. Hold longs for further gains. Likely resistance is at 4850 levels.
Short Nifty at resistance levels above 4857, moving stop of 4961 and a target of 4650.
Hindalco trails, but stop intact.