-please note that Nifty is at strong resistance of around 2830.-present uptrend is now 6 days old and since jan 2008, all upmoves had lasted for 6-7 days.
-today will be 7th day, so keep your exposure minimum.(trade light)
-all above is not an indication to go short also because shorting at top or buying at bottom is a job of expert or speculator and we are none of them.
CUES-
--Nifty March future discount increased to 15 points so cost of carry decreased.
--Nifty open interest increased by 7 lacs suggests short addition.
--Nifty call option added 15 lacs and put option added 37 lacs.
--Put-Call Ratio increased to 1.58.
--2700 puts had open interest of 78 lacs, so 2700 will be imp level to watch for.
--implied volatility increased by 50 basis points suggests instability.
--India VIX closed at 38.19, decreased by 1% suggests stability.
--US markets closed in green.
--Asian markets trading mixed.
--Sgx nifty trading at 2800. (UP 22)
--Positional strategy for nifty—Hold Long with closing stop loss at 2731. (Initiated at 2794)
Visit http://niftydoctor.blogspot.com/2009/01/trading-strategy-for-positional-calls.html
Trading diary for 18th march.
-Nifty was closed at-2757.
-Strategy for day was- neutral. (Long above 2794 close)
-Closing stop loss was at- 2686.
-Opening range (15 minutes) - 2797-2757.
-Break out- up
-10.10AM-3.00PM trading—long initiated.
-After 3.00 PM trading- no trade. (Trading above 2790)
-Carry forward- long.
--Nifty March future discount increased to 15 points so cost of carry decreased.
--Nifty open interest increased by 7 lacs suggests short addition.
--Nifty call option added 15 lacs and put option added 37 lacs.
--Put-Call Ratio increased to 1.58.
--2700 puts had open interest of 78 lacs, so 2700 will be imp level to watch for.
--implied volatility increased by 50 basis points suggests instability.
--India VIX closed at 38.19, decreased by 1% suggests stability.
--US markets closed in green.
--Asian markets trading mixed.
--Sgx nifty trading at 2800. (UP 22)
--Positional strategy for nifty—Hold Long with closing stop loss at 2731. (Initiated at 2794)
Visit http://niftydoctor.blogspot.com/2009/01/trading-strategy-for-positional-calls.html
Trading diary for 18th march.
-Nifty was closed at-2757.
-Strategy for day was- neutral. (Long above 2794 close)
-Closing stop loss was at- 2686.
-Opening range (15 minutes) - 2797-2757.
-Break out- up
-10.10AM-3.00PM trading—long initiated.
-After 3.00 PM trading- no trade. (Trading above 2790)
-Carry forward- long.
