Sunday, January 24, 2010

CALLS E-MAIL- JAN 25


Dear Viewers,

My E-mail service is now one year old.

The service was started on 29th Jan.2009.

On completion of one year all my E-mails will be shared here for next few days.

with regards.

-Dr.Jignesh Shah.


-----NIFTYDOCTOR’S TRADE PRESCRIPTION-----


CALLS---

• File of today’s calls attached.
• In calls, book 50% at target and close 100% when trailing stop loss hits.
• Initiate position in new calls as per ORB strategy.
• All calls are given full follow up even if not initiated as per ORB strategy.
• It is advisable to monitor positions in open and other calls as per ORB strategy.
• To view ORB strategy visit at http://niftydoctor.blogspot.com/2009/04/opening-range-breakout.html
• In all calls average of last three days low is stop loss for longs and average of highs is stop loss for shorts.




TECHNICAL CUES-------

• Nifty made high and low of 5094 and 4955 on last trading day.
• Trading above 5050, up move will be seen up to 5070, 5080, 5090.
• Below 5020, correction will be seen up to 4990, 4970, 4950.
• Last swing top is at 5292.
• In the medium term,
--- Nifty is in corrective down move (from 21st Jan.) with targets of 5010 (achieved), 4950 (achieved), 4890.
--- The down move will ‘terminate’ above 5311.
• In the short term,
--- Nifty is now in downtrend (from 21st Jan.) with targets of 5090 (already achieved), 5020 (achieved).
----The down trend will ‘terminate’ above 5292.

DERIVATIVE CUES----

• Nifty January future discount increased to 16 points so cost of carry decreased. (Bearish)
• Nifty open interest increased by 23 lacs suggests short addition. (Total OI now at 3.27cr which is very dangerous suggest high volatility in next three days)
• Nifty calls added 61 lacs and puts added 12 lacs in open interest. (Bearish)
• Nifty open interest put-call ratio is at 1.04.
• 5000 puts had open interest of 58 lacs (-10%) and 5100 calls had open interest of 41 lacs (+23%), so 5000 and 5100 will be important levels to watch for.
• India VIX closed at 24.85, increased by 5.7% suggests instability. (Bearish)
• In Nifty stocks, advance-decline ratio is 8/41. (Bearish)

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