Thursday, August 4, 2011
Thursday, July 21, 2011
Monday, June 20, 2011
NIFTY has been trading in a range of 5300 to 5650 for quite some time.
On 20th June, it has breached an important support @ 5300 hundred. It touched a LOW of 5196 today, before closing @ 5258. Another important support is around 5180, however, I am confident that it will get breached too!
Next target for NIFTY is 4969, and I won't be surprised if we see it achieved by 22nd June 2011. Two days to go!
Thereafter, next support levels are 4765 and 4300. Watch out for a 20% run down on NIFTY.
Happy Trading Shorts!
On 20th June, it has breached an important support @ 5300 hundred. It touched a LOW of 5196 today, before closing @ 5258. Another important support is around 5180, however, I am confident that it will get breached too!
Next target for NIFTY is 4969, and I won't be surprised if we see it achieved by 22nd June 2011. Two days to go!
Thereafter, next support levels are 4765 and 4300. Watch out for a 20% run down on NIFTY.
Happy Trading Shorts!
Tuesday, June 7, 2011
Monday, June 6, 2011
Thursday, May 26, 2011
NIFTY – June Series
by SUMIT GUPTA on May 26, 2011
Today was the expiry date for the May 2011 derivatives series. This month has been quite eventful. While at the begining of this month, I was a little bullish, it turned out finally to be a bearish month.
Excerpt from my March 28 2011 post:
“While some experts might say that this is sign of strength, I have my own doubts. Volumes are lower than the average 200 day moving average volume. Normally, when a resistance is broken, it is on HIGH VOLUMES showing confidence of people buying. Volumes comes from institutions / FIIs / Professional investors buying. Low volumes indicate involvement of retail investors, which mostly are buying because they ‘hope’ the market to go up.
In my view, NIFTY is likely to open with a gap up on Tuesday/Wednesday, 29th/30th March, touch 5800 making a Double TOP with 25th Jan HIGH during the day and then close near the LOW of the day, and perhaps below the close of previous day, with HIGH volumes. If that happens, then it is expected to retrace back to Target 1 – 5200 and Target 2- 4600 by 6th May 2011.”
While I must admit that I was wrong in calculating the date i.e. by 6th May, NIFTY has already retraced to 5328 today’s (26th May) LOW. If it wasn’t an expiry date and short covering didn’t happen, we would have seen market closing either flat or negative. It is exactly 60 days from my last post that we are approaching another pressure date. If you see 28 May 2010 LOW, we are approaching the anniversary in next 1 or 2 sessions. Would we see a black Friday or Monday, time will tell. My guess is, it will be Monday that we see a sharp decline. So, target 1 will be achieved, soon.
Time to go short, target is 5125-5150. NIFTY needs to touch this level, atleast, to complete it’s 3rd Section. I won’t be surprised, if NIFTY sheds 150+ points in next 2 sessions. Some Technical and professional analysts might tell you that the market is oversold. But I am sure, it’s not time to go LONG and definitely, not for investors. They should wait for a week or 2 and I am sure, they would not repent it.
Short Trade NIFTY. 300 points can give you Rs. 15000 per lot
by SUMIT GUPTA on May 26, 2011
Today was the expiry date for the May 2011 derivatives series. This month has been quite eventful. While at the begining of this month, I was a little bullish, it turned out finally to be a bearish month.
Excerpt from my March 28 2011 post:
“While some experts might say that this is sign of strength, I have my own doubts. Volumes are lower than the average 200 day moving average volume. Normally, when a resistance is broken, it is on HIGH VOLUMES showing confidence of people buying. Volumes comes from institutions / FIIs / Professional investors buying. Low volumes indicate involvement of retail investors, which mostly are buying because they ‘hope’ the market to go up.
In my view, NIFTY is likely to open with a gap up on Tuesday/Wednesday, 29th/30th March, touch 5800 making a Double TOP with 25th Jan HIGH during the day and then close near the LOW of the day, and perhaps below the close of previous day, with HIGH volumes. If that happens, then it is expected to retrace back to Target 1 – 5200 and Target 2- 4600 by 6th May 2011.”
While I must admit that I was wrong in calculating the date i.e. by 6th May, NIFTY has already retraced to 5328 today’s (26th May) LOW. If it wasn’t an expiry date and short covering didn’t happen, we would have seen market closing either flat or negative. It is exactly 60 days from my last post that we are approaching another pressure date. If you see 28 May 2010 LOW, we are approaching the anniversary in next 1 or 2 sessions. Would we see a black Friday or Monday, time will tell. My guess is, it will be Monday that we see a sharp decline. So, target 1 will be achieved, soon.
Time to go short, target is 5125-5150. NIFTY needs to touch this level, atleast, to complete it’s 3rd Section. I won’t be surprised, if NIFTY sheds 150+ points in next 2 sessions. Some Technical and professional analysts might tell you that the market is oversold. But I am sure, it’s not time to go LONG and definitely, not for investors. They should wait for a week or 2 and I am sure, they would not repent it.
Short Trade NIFTY. 300 points can give you Rs. 15000 per lot
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