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For this week of nifty fut: oct 5 2009 to 9th oct 2009

 
This forum is locked: you cannot post, reply to, or edit topics.   This topic is locked: you cannot edit posts or make replies.    iCharts Discussions Forum Index -> Muthu Veerappan (iCharts User: veerappan)
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Author For this week of nifty fut: oct 5 2009 to 9th oct 2009
veerappan
Expert
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Joined: 19 Dec 2007
Posts: 3436

Post: #1   PostPosted: Sun Oct 04, 2009 7:53 pm    Post subject: For this week of nifty fut: oct 5 2009 to 9th oct 2009 Reply with quote

hi,
markets r holded by [buy] only bulls... this was the image created by operators and fiis.... retailors r every day sellers... now its a turn of DII boys... so market is ready for the correction ... for this week as per my view 4731-4712 will be the biggest support... this is the for the week... for monday it shd take the support 4918-4914 range... if it closes below means we may c further 200-250 pts correction nifty further levels...intra week its possibe to come 4676-4646 range also... let us c....


regards
chennai boy
veeru Very Happy Very Happy Very Happy [each smile is -130 pts in nifty for this week]
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sethu45
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Joined: 06 Aug 2009
Posts: 166

Post: #2   PostPosted: Sun Oct 04, 2009 8:37 pm    Post subject: nifty from 5th Oct to 9th oct Reply with quote

Hi,

Let us hope to c a correction in the market as mentioned by you. Atleast a minimum 200 points on Monday will pave way for good and healthy market.
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sandew
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Joined: 02 Feb 2009
Posts: 174

Post: #3   PostPosted: Mon Oct 05, 2009 12:14 pm    Post subject: Reply with quote

Derivative option chain is not suggesting break below 4800 as of now. On upside call writing is at 5200 range. Top does seem to be capped and so does the bottom bottled.
Also there is nothing on the TA charts which suggest a big sell off.
The expected sell off is an extension is what is happening with DOW - which itself is oversold on daily charts (but overbought on weekly still) ; so DOW can have a pop up.
BOth FII and DII are putting in real money.
Be cautious.
Want to play short - sell 5000 calls (aggressive ) ot 5200 calls (defensive) or 4800 Puts (aggressive) or 4700 puts(defensive).
There are other combo strategies too.
I would like to be corrected for which request Veeru to indicate what are his chart readings to suggest a masive slide or is it just a gut-feel?
regards
SanDew
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