Intraday calls for 20-12-12

Quotes with Resistance & Support

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Intraday calls for 20-12-12

Posted on: December 20th, 2012 at 8:07 am

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Markets likely to open lower, support for Nifty at 5820 and resistance at 5960

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400 Responses

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kb trader Says:
December 20th, 2012
Posted at: 3:36 pm
Hi Indu, sm is good in explaining .. he will help u ..sure ..
1. 5 min /15 min is good for day trading
2. not following ma
3. i use all these, default settings.
as i said earlier, chart patterns are more imp..
feel free to ask... i learned basics like this :)
cerulean Says:
December 20th, 2012
Posted at: 3:41 pm
Hi kb trader, I Guess I missed SM... :{
Can you kindly tell.. how crude looks to you... for now will place sl at 4944[days high]
SM Says:
December 20th, 2012
Posted at: 3:46 pm
Hi cerulean, GA. 4944 can be easily taken out. Keep SL at 4960, which is just above yesterday's high of 4958...
kb trader Says:
December 20th, 2012
Posted at: 3:50 pm
Hi cerulean, its not weak yet.. guess risky
Abhishek Says:
December 20th, 2012
Posted at: 3:53 pm
hai sir nhpc target tommorow
cerulean Says:
December 20th, 2012
Posted at: 3:54 pm
Hi SM, Hi SM,THANKS A LOT ...Shall do that ..GOD BLESS YOU.Hope all is well with you..Hi kb trader, THANKS A LOT ..
SM Says:
December 20th, 2012
Posted at: 3:55 pm
Hi Indu, GA. I agree with KB.
1) Can go for a combination of 5 and 15 min
2) No hard and fast rule for MA. When playing volatility, like you intend to do with options, can keep EMA. SMA will be more suited for longer time-frame charts. Also try to consider intraday charts (5/15min) of at least 3 consecutive trading days if possible
3) Default settings should work just fine. Later on after gaining some experience, you can look forward to tweak some settings and see what works best for a particular scrip
And yes, like Kb said, feel free to ask. Somebody will always be here to assist you...
SM Says:
December 20th, 2012
Posted at: 3:58 pm
Hi cerulean, You are welcome. Though it is near res levels, but like Kb said, its not weak yet. Since you have already shorted, maintain the SL on a trigger basis and hope for the best :)
cerulean Says:
December 20th, 2012
Posted at: 3:58 pm
Hi SM, It is really nice expalnation... thx
Indu Says:
December 20th, 2012
Posted at: 3:59 pm
Hi Kb Trader, SM,
Thank you very much for the information. I will keep these settings and observe for the next couple of days and will get back to you, if I have any further questions.
Thanks very much for helping us newbies.
Bye and take care.
cerulean Says:
December 20th, 2012
Posted at: 4:01 pm
Hi SM, OK... Or I will cover slightly lower ... For now it may rally up to yesterdays high... The problem is , that whwn there are many sell calls and when it goes there are higher targets ..
I wuldn't be surprised if it goes up to 5200 again ..by and by..
THANKS A GAIN ..
cerulean Says:
December 20th, 2012
Posted at: 4:04 pm
Hi SM, whenever low -many sell calls and vice versa ... Wish I knew to shut off'..and learn tech better...
Hope your tradeWish you all the VERY BEST IN your work and life ..TC
cerulean Says:
December 20th, 2012
Posted at: 4:06 pm
Hi SM,Covered just now at 4946... happy to be over with...
SM Says:
December 20th, 2012
Posted at: 4:08 pm
Hi Indu, You are most welcome. TC :)
Hi cerulean, See, considering volume on 5 min charts, yesterday's high was 4958 made around 11:15 pm. That candle/bar has a volume of more than 5000 contracts. From that candle till now, no candle on a 5 min chart has that much volume. If we consider and try to predict that some shorts were generated at that high levels, we are assuming those are not yet sill covered. So, 4960 becomes an imp level. Keep fingers crossed and hope for the best...
SM Says:
December 20th, 2012
Posted at: 4:11 pm
Hi cerulean, Ok... we will recover those 14 points
cerulean Says:
December 20th, 2012
Posted at: 4:12 pm
Hi SM, Hi SM, How well you explain:} how did you make out , that candle bar had 5000 contarcts ...? And i do wonder where to get the right chart..