Quotes with Resistance & Support
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Intraday calls for 01-11-2012
Posted on: November 1st, 2012 at 8:32 am
Markets likely to open flat, Resistance for Nifty at 5640.
Buy Rushil Decor around 287, Target: 293.50, SL 283 – (Continue to hold Rushil. Looks good technically)
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CB Says:
November 1st, 2012
Posted at: 6:43 pm
Hi Priyanka, if manages to trade above 5650 for some time, could test 5700 again
Hi SR, Good evening.
Priyanka Says:
November 1st, 2012
Posted at: 6:44 pm
Hi SR, Goodevening Sunil.Where do you see nifty during Diwali?
SR Says:
November 1st, 2012
Posted at: 6:45 pm
Nifty though strongly bullish today failed to break the major resistance and closed below it. This level was also the breakdown level from where the fall started. I expect a Gap-Down opening tomorrow, but would recommend to go short on Nifty only below 5618 for targets of 5569, 5545, 5522
SR Says:
November 1st, 2012
Posted at: 6:48 pm
Hi Priyanka, 5545, 5522 should be the likely region for the positive trendline to converge. If Nifty holds onto this, we may likely see a strong bounce possibly leading it to 5890 on Diwali. Lets see. :)
Priyanka Says:
November 1st, 2012
Posted at: 6:51 pm
Hi SR, Exactly! we are still in the breakdown range only (about 5640).But, as of now global cues seems to be positive.In that case, a positive opening of +20 possible (ie,nifty may open around 5665). Even then, you see a down trend ?
H A M Says:
November 1st, 2012
Posted at: 6:55 pm
Hi Priyanka, GE :) First of all thanx alot for that tip.
One can initiate long positions/calls above 5700 but not below it IMO.
Nifty has very strong support @ 5550 and if this upcoming rally started, it will not stop or turn back till 6000/6100, hence, before that, am expecting it to re-test 5550, there is gap in between 5526-5450, who knows, even this gap may get filled during this fall and it's just my view.... Till now upto 5600 level, i think am right abt this correction and shall need to wait and see, how it will be this time. Me too bought puts today and I will hold them with strict SL of 5700 personally and recommended here to keep 5660 as SL for 5500 PE. Plz share ur opinion too..
Hi CB, Good evening:) Plz share ur opinion on nifty in coming days. Thank u!!
Hi SR, Good evening :) Hope u r doing great!!
SR Says:
November 1st, 2012
Posted at: 6:59 pm
Hi Priyanka, I doubt a positive opening in Nifty for tomorrow. But as I said, I will only go short on Nifty after it breaks below 5618. Till then, I'm positive on Nifty :)
Priyanka Says:
November 1st, 2012
Posted at: 7:00 pm
Hi H A M, Most welcome.
Predicting the market is the toughest thing in this world
FII mood has changed.They need to sell at higher prices.
So, I feel we can see strong FII buying from tomorrow or Monday.
But, who knows..................?
Priyanka Says:
November 1st, 2012
Posted at: 7:04 pm
Hi SR, Thanks.I exited all positions today @5645.
Will wait till 5618 for shorting....
But, please guide me from where I can again go long on nifty...
5660 ?
Thanks
SR Says:
November 1st, 2012
Posted at: 7:05 pm
Hi H A M, I'm doing fine. Hope the same with you. As of now, only trading on Nifty futures using AutoChannels on 5-min charts. No major breakout seen on hourly charts for any positional trades on Nifty Options.
H A M Says:
November 1st, 2012
Posted at: 7:10 pm
Hi Priyanka, Yes, that's right. Need to wait and watch in practical... but I stick on to my opinion will buy above 5700 or below 5570/50, not in between this zone.... Thanks once again. Good luck :)
Hi SR, Yes, Thank u for sharing ur views. Good luck :)
H A M Says:
November 1st, 2012
Posted at: 7:16 pm
Hi CB, My reply to Priyanka and SR at 7:10pm in spam, Kindly approve it. Thank u!!
Bye for now....!! Good night :)
SR Says:
November 1st, 2012
Posted at: 7:18 pm
Hi Priyanka, To go long on Nifty, we need to wait and watch for some consolidation pattern. Will update about the next long entry. This is how I trade in Nifty using AutoChannels. I enter 3 lots (or multiples of 3) at the time of a Channel Break. Book profits in 2 when the first swing target is achieved and hold the third till the Channel Reverses. I always keep a protective stop of about 10 points below/above the SL. Sometimes the third lot gives amazing profits.
SR Says:
November 1st, 2012
Posted at: 7:22 pm
Hi H A M, Bye. Good Night and Take Care.
Prams Says:
November 1st, 2012
Posted at: 7:22 pm
Hi Priyanka, They need to sell at higher prices???pls elaborate.u mean to say they will first move market upwards and then sell.
Abhishek Says:
November 1st, 2012
Posted at: 7:25 pm
hai cb your target for wipro tomorrow.