Tuesday, May 12, 2009

TRADING DAIRY FOR 13/05/2009


12/05/2009
  • Today VIX close at 50.31 V/s 61.03 (-17.57%) High Volatility in coming days
  • Nifty May Future Close At 3689.95 With 08 Pts Prem.
·         Also OI Increase to 38.62 cr Vs. 380.00 in May fut.With Increase of  1.66 lacs  2.25 Vs 0.25 %
·         Active calls in May series are 3700-3800-3600 (most active)
·         Active puts in May series are 3500-3600-3400 (most active)
          SUMMARY FROM THE ABOVE DETAILS.
  • Maximum target for this rally is 2860 – 2890 – 2930-2958-3005-3082 -3166 – 3200 -324033123450 --3500-3590-3680-3700-3790
  • Targets Achieved On Closing Basis Pending Tgt Are Unhilighted. (+) Or (-) 20 Pts
·        Today Was A Perfect Day Of - Trust Your Eyes And Not Brain. Nifty Managed A Spectacular Rally From Lows Of 3534…All The Way To 3690+. It Was A Complete Disbelief Rally As It Came Against General Market Wisdom Of - Buying Before Uncertain Event. The Rally Was Also Shocking Because It Completely Disregarded The Sell Off We Saw Yesterday. There Is A Saying: Market Has A Habit Of Making A Violent Move In The Direction Of Surprise. If You Look At 3 Day How Much Did A Positional Trader Made????  While Intraday Traders Made Minimum Of 300 Pts In This 3 Trading Session As Adviced To Play Intraday Positions With The Help Of Intraday Band Still Market Is Uncertain But The Momentum Is Turning Positive Please Do Not Short The Market This Is A Wild Rally You Shall Be Squeezed Out If You Cannot Judge The Mkt Swing In Intraday Pls Sit On Sideline This Is Not Positional Mkt Now. Market As Per Hourly Chart Seems Overbought And Might Give Some Correction In First Session Or 1st Hour In Daily Charts Rsi And Ss Are Showing Positive Direction Which Indicates That We Shall Make New High In A Day Or Two. STILL THE TOP OF THE RALLY REMAINS 3790-3800 LEVELS BEFORE ELECTION AND CLOSE ABOVE 3800 CAN RALLY ABOVE 4000-4200 LEVELS CLOSE BELOW 3480 ONLY CAN SLIDE FURTHER DOWNSIDE UNLESS THIS HAPPENS IT IS BUY ON INTRADAY DIPS AND SELL ON RISE .
·        Note : Still Overnight Position Is Not Advisable.
  • LEVEL FOR THE DAY
  • TECHNICAL OUTLOOK :
  • Imp Support 3640, Imp Resistance 3725,
  • Likely Trading Range 3590 - 3770,
  • Trade on long Above 3595 and Vice versa
  • Note :- Please don’t use this levels when gap up or gap down. Also either side band is breached shall show breakout in either direction, and close above / below the intra band shall continue with the same trend for next day and can continue for for BTST OR STBT.

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