Dear Viewers
Pl. Cover your Nifty Shorts around 5020 or 5050 level . As we said earlier every rise was a selling opportunity around 5250 & 5270-80. Shorts are getting profit 250 points in Nifty (refer in detail posting of last Saturday "Nifty & Tata Steel 18’Th Jan - 22’Th Jan 2010").
Link - 18'th Jan to 22'nd Jan We posted daily charts for a week looking downside for market. Just imagine....
Tata Steel ADVANCE SCIENTIFIC Chart 21’st Jan 2010:-
(Forecasting to happen during Trading Hours)
Selling in Global markets set a lower tone for Indian markets with the Nifty opening 25 points lower. Tight band was in early morning trades, Nifty fell sharply once it broke the crucial level of 5180 in noon trades. Bears smashed and shattered every rise with aggressive selling in heavy weights. Bears celebrated the second anniversary of the selling circuit by hitting a century and finally ended the session breaking down the consolidation range at 5094 with a loss of 128 points. Volumes in Nifty futures were significantly higher than the previous trading volumes. Around 30 lakh shares were added in open interest with decrease in the cost of carry, indicating that every rise was taken as an opportunity for going short. On the option front, implied volatility has increased by around 350-450 basis points, indicating that volatility will continue to remain very high till the expiry of the January F&O contract. Nifty future discount has increased from 7 points to 10 points and 30 lakh shares were added in open interest. Total open interest in the market was Rs 112,840 crore and Rs 3,393 crore were added in open interest. Nifty call option added 63 lakh shares in open interest, whereas put option added 16 lakh shares in open interest.
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1 comment:
Nice Research.. Keep it up....
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