Share Tips Free Trial On Your Mobile By SMS

WE HAVE BEEN ADVISING TO REMAIN SHORT SINCE NIFTY FUTURE BREACHED 6072, EVEN YESTERDAY IT WAS A VERY CLEAR SHORT FROM OUR SIDE. WE HAVE BEEN REQUESTING NOT TO ATTEMPT BOTTOM FISHING IF YOU ARE A SHORT TERM TRADER. WELL, FROM 6072 NIF FUT HAS HIT LOW 5746 YESTERDAY. NO ROOM FOR WISHFUL THINKING. JUST FOLLOW THE TREND.

YESTERDAY ALSO NIFTY COULD NOT GO NEAR 5950. AS EXPECTED RELIEF RALLY HAPPENED BUT IT COULD NOT SUSTAIN ABOVE 5925. BELOW 5885 VERY CLEAR CUT SHORT AGAIN YESTERDAY.

THOUGH NIFTY IS OVERSOLD, BUT IT IS STILL IN SHORT MODE. WE WILL NOT ADVISE LONG AT LEAST TILL WE WITNESS A SHORT TERM REVERSAL. WE REALLY DONT CARE ABOUT OVERBOUGHT OR OVERSOLD CONDITION AS FAR AS INTRADAY TRADING IS CONCERNED.

TODAY VERY WEAK BELOW 5795.

FIRST SIGN FOR WORRY FOR BULLS ..IF CROSSES AND SUSTAINS ABOVE 5822 FOR 10 MINUTES.

 IF CROSSES 5795 WATCH 5822 FIRST. IF UNABLE TO SUSTAIN ABOVE 5822 AND BREAKS 5813 ,EXPECT TROUBLE AGAIN FOR BULLS.

IF CROSSES 5822 AND SUSTAINS ABOVE IT FOR 10 MINUTES, EXIT SHORT FOR THE TIME BEING. NIF FUT CAN  THEN MOVE UP TO 5860/5865 BUT AVOID BUYING . 5865/5880 IS LAXMAN REKHA. I AM NOT SAYING THAT NF WILL GO THAT FAR, BUT YES, PROBABILITY CAN NOT BE RULED OUT.

ONE THING IS SURE THAT WE WILL NOT BUY TILL WE WITNESS REVERSAL SIGNALS.

SUPPOSE NF SUSTAINS ABOVE 5822 AND EVEN FURTHER UP, WE WILL STILL GO SHORT IF SUBSEQUENTLY DIPS BELOW 5810.

DOWNSIDE 5745 WILL BE RETESTED TODAY OR IN A FEW DAYS. IN CASE IT HAPPENS TODAY WHICH IS LIKELY THEN NEXT TARGET 5715,5670. 5700 MAY ACT AS SUPPORT FOR SOME TIME. CAUTION. IF BREAKS 5715 BUT QUICKLY REBOUNDS ABOVE 5727 EXPECT MEANINGFUL RALLY OF 70/80 POINTS. BUT AVOID BUYING AS STOP LOSS WILL BE VERY WIDE.

IF BREAKS 5700 ON CLOSING BASIS ,NEXT LEVEL MAY BE 5567 WHICH IS 50% FIB LEVEL. 

NIFTY 5800 PUT OPTION(132)BUY  NEAR 100, STOP IF SUSTAINS BELOW 80.

NIFTY 5700 PUT OPTION(87)BUY NEAR 63 STOP BELOW 50 IF SUSTAINS.

NIFTY 5600 PUT OPTION(58)BUY NEAR 40, STOP BELOW 30 IF SUSTAINS.

BANK NIFTY: (10706)

IN SHORT MODE.  WEAK BELOW 10790.

SHORTS MAY OPEN UP NEAR HURDLE @ 10875. IF REACHES IN THE VICINITY OF  10875 BUT FINDS RESISTANCE THEN SUBSEQUENT DIP BELOW 10830 MAY TRIGGER SHORTING ONCE AGAIN. IF MANAGES TO SUSTAIN ABOVE 10875 THEN SURGE TO 10950/10990 CAN HAPPEN. EXIT SHORTS IF SUSTAINS ABOVE 10875 FOR 5 MINUTES. 5 MINUTES ABOVE 10990 MAY INVITE SHORT COVERING AND HUGE SURGE UP CAN NOT BE RULED OUT.

IF UNABLE TO CROSS 10790 THEN DIP TO 10620 POSSIBLE. NEXT LEVELS ARE 10580, 10500.