Nifty Strategy for Week (18 Feb - 22 Feb)

[ankurdhamija83]

Short Nifty futures around 5380-5390 range..i believe u wnt get these levels back so easily to short again...
Stop Loss - 5482 on closing basis..
Target 5050-4800-4500....

And plz dont go long in this market....Prefer shorting the market on every rise...
If u go long..book intraday profits...

 

[ankurdhamija83]

Hope the attachments will be of good help

 

[chintan786]

add oscillators also.... they will back ur target more.. because near 5400 mkt looking "OverSOLD"( on daily charts).. further the recent pullback abt to touch the lower line of the bearish flag.. lets us see..

lamha ye jayega kahan... we can buy puts.. of 5200

chintan

 

[ankurdhamija83]

Market looking oversold????...near 5400...i didnt get ur point...

 

[neo1599]

What is your outlook for monday? My analysis says there is a hefty downside maximum by tuesday. If till tuesday we dont see the market break then the targets of 4500 will go on to the next week which has a built-in event risk.

Neo

 

[ankurdhamija83]

My analysis is that market will be toppish and volatile for Monday....it Can touch 5380-5390 on Monday...and tht will be an excellent opportunity to short the markets....
The Options data suggest a lot of call writing of 5300-5400 call and also of 5200 call..and alot of other indicators are also pointing a near term top...
Most of the stocks have reached their Resistance levels....
There are many factors....

I personally feel..tht its most likely a top...and we are gonna fall from here...
Markets have made a lower top and lower high pattern....So lets c...

 

[gvgs98]

Ankur
Thats an excellent observation but if you could add William %R, Slow Stochastic or RSI indicators to your analysis, i suppose it would bring more clarity. I reckon thats what chintan is saying!!!

Cheers
VG

 

[ankurdhamija83]

Dow Jones breaking 12200 would be a confirmation that the Indian and GLobal markets are gonna extend their fall....

 

[ankurdhamija83]

Guyz have a look at the Call Put OI positions in the market..which shows tht now we are resistance zone....

 

[chintan786]

Market looking oversold????...near 5400...i didnt get ur point...

sorry it is OverBought...