December 3, 2013

Breakout or reversal expected in NIFTY

NIFTY closes at upper end of range.. depending on your bias, you will be bullish or look at this as an excellent shorting area as you are close to a stoploss.





Option writing is giving some clues here... good support at 6000 and resistance at 6500.

VIX increased by another 6% today (possible reversal). Now if you buy an option today and markets rally tomorrow (instead of reversing from here), there will be a huge drop in  VIX and also option prices.

Intraday charts points to rangebound trading (5 min, futures)


15 min charts point to even more rangebound trading over past 3 days....

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9 comments:

  1. UnknownDecember 3, 2013 at 7:40 PM

    Sir plz view in Hdfc hdfc bk & educomp

    ReplyDelete
  2. Mehul NakarDecember 3, 2013 at 8:41 PM

    VIX increase due to State Election Factor & again it rising tomorrow & will DROP on THURSDAY or on 9th of December after release of election Result on MONDAY ..............................

    co relation with NIFTY suggest that we might seen BIG Movement on MONDAY & still OTM option LOOSE its Value due to drop in VIX from 25 to 20 (or wht ever it may)

    so all LONG Position in NIFTY OPTION should close on FRIDAY or MONDAY Opening time .........

    this is purely my view i may be wrong .


    ReplyDelete
  3. UnknownDecember 3, 2013 at 9:47 PM

    Sir
    looks like a bearish bat pattern is developing.
    only caveat nifty retraced nearly 100% of AB to 5973
    More upside must be till 6285 which could be short entry with small SL

    ReplyDelete
  4. Srinivas Krishnan BDecember 3, 2013 at 11:08 PM

    Expecting Nifty to touch 6180

    ReplyDelete
  5. damuDecember 4, 2013 at 7:41 AM

    sir please guide for my hedging stretegy i asked you thanks

    ReplyDelete
  6. UnknownDecember 4, 2013 at 3:45 PM

    Dear KPL Sir,
    Nifty Spot Closed at 6160.95 any view about nifty spot.

    ReplyDelete
    Replies
    1. Kamalesh P LangoteDecember 4, 2013 at 5:52 PM

      Posted at http://www.vfmdirect.in/2013/12/nifty-correction-market-still-buy-on.html

      Delete

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