Murrey Math and Options data based position - EOD 15th Jan, 2014

F&O Cues

F&O Cues Updated.

EOD Update - Nifty Spot Hourly Chart

Nifty has passed two tests. 
1. It has recovered above a significant trendline
2. It has kissed the falling trendline connecting previous 2 tops recent tops i.e 6415.25 and 6358.3.

Now next two vital tests would be to retrace 
1. 6358.3 in faster time 
2. Cross 6415.25 

Let the market tell where it wants to go.

Update of Positional Calls for the Week

6200 CE (S/L 95) and 6300 PE (S/L 39) have survived for today. Where as 6300 PE triggered buy today, we have 6200 CE running since Monday.  

Now crossing 171 crucial for 6200 CE for higher Targets as 184/ 190 / 229 / 254 / 290

6300 PE, if survives stop Loss has 85 / 97 /150 / 166  as Target

Update

Two Main hurdles for Nifty 6358 and 6415.  Close above 6350 and sustaining can only change the sentiment from bearish to bullish. 

Calls for the Day and the remaining days of the Week - Reposting the morning post

Nifty Spot strength above 6249 Target 6323 / 6346
Nifty Spot Weak below     6238 Target 6175 / 6130
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Banknifty Spot strength above 11184 Target 11218 / ?
Banknifty Spot Weak below     10942 Target 10667 / ?
Posted by Sandip Pal at 7:14 AM  


The First Target 6323 Nifty Spot Achieved today

3 P.M

Murrey Math and Options data based position

2 P.M

Update

Exit Nifty Future Sell Call for now @cmp6305.  Please consider the sell call after 2.30 P.M if it doesn't hit the S/L.

Update

Short Nifty Future once Again between 6295-6305  S/L 6317  Target 6252-6264

1 P.M

Update

Now Nifty 6300 PE is active and has raised to a high of 80 from 60 already.

Update

Further weakness for Nifty Future below 6282 and it may go to 6250 straight. Otherwise holding 6282 it may attempt some pullback upside.

Update

Nifty Future Short Call  @6316 - worked well, yielded 30 points straightaway.

Nifty Spot has reached crucial resistance level

Update on Nifty Future

Below 6316 Nifty Future will start weakening. Short Nifty Future if it keeps below it. Above 6316 longs are safe.

Update

6300 PE is now in buying range S/L 39. 
Please see the earlier call for the week.

12 Noon

Update

Nifty Spot has now hit 80% retracement level at 6315. Exiting 50% long postions for the will be better here.

Update

6200 CE has now broken 149.

6300 CE Reference Table for Trading

6300 CE

Below 134 6300CE will become weak and below 128 is may be sold.

11 A.M

Update

Nifty Spot has trendline resistance from 6300-6330 and 6314 is the 80% retracement resistance. Anywhere in between profit booking is needed.

6200CE now targeting the crucial 149 Mark. Another crucial mark for it is 171. 

Update

Nifty and Banknifty Key Values updated.

10 A.M

Update

below 6272 Weakness will come in once again for Nifty Spot and holding the same should be good. Caution required closer to last hour with long positions.

High Risk Option Calls for the Week - Reposting

6200 CE - Call for the Week
If unable to cross 149, one may write this call Option for the Week closer to 149 only.
Buy above 117 S/L - 95 Target 130 / 149 / 184 / 254  (This Call Active)

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6300 PE - Call for the Week
If unable to cross 166, one may Write this Put option for the Week Closer to 166 only.
Buy Holding above 97 S/L - 85 Target 150 / 166 / 199 / 264  (Stop Loss Hit - Not Active)
Or

Buy between 55-65 S/L - 39 Target 85 / 97 /150 / 166 /199 / 264 (This Call Active)

Update

Retracement Chart suggesting 6274-6294-6314 Nifty Spot will face strong resistance and 6248-6255-6261 will support.

Update

Nifty Spot has hit the Bear Stop Loss 6272.  Bullish holding above 6272. 6260-6270 stiff resistance zone. 2nd half or last hour important as usual.

Follow the trendlines

Update

Pre-Market open price 6265.95 close to bear Stop Loss for the Day at 6272.  Bullish opening.

Calls for the Day and the remaining days of the Week

Nifty Spot strength above 6249 Target 6323 / 6346
Nifty Spot Weak below     6238 Target 6175 / 6130
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Banknifty Spot strength above 11184 Target 11218 / ?
Banknifty Spot Weak below     10942 Target 10667 / ?

Pre-Market Levels For 15th January , 2014 Working

Nifty Spot [6184  -  6212]
6273                     Day Bear Stop Loss 
6181                      Week Trend Decider Level
6210                      Day Bull Stop Loss

Nifty Future (6084 / 6116 / 6250 / 6346 as Par FnO cues)
6315                      Sell All
6268-6277             Sell Zone
6247-6251             Key Support / Weak Below
6229-6239             Support
6214-6220             Weak Below
6203-6214             Strong Support
6173-6186             Big Support

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Banknifty Spot [10839 - 10888]
11126                     Week Trend Decider Level
11042                     Day Bear Stop Loss 
10856                     Day Bull Stop Loss

Banknifty Future (10372 / 10720 / 10956 / 11123  as Par FnO cues)
11211-11229         Sell All
11109-11184         Stiff Resistance
10915-10984         Support
10862-10879         Good Support
10810-11820         Strong Support / Very Weak below
10765                    Big Support
10661                    Buy All