Nifty Trades for 06/02/2013

Feb 6, 2013 9:00 AM
134 Comments
06/02/2013 09:00  Trend: Negative, SL: 5974
06/02/2013 09:40  SL Triggered, Trend: Positve, SL: 5950
06/02/2013 09:50  SL Trailed: 5952
06/02/2013 10:25  SL Trailed: 5953
06/02/2013 11:10  SL Trailed: 5957
06/02/2013 15:15  SL Triggered, Trend: Negative, SL: 5981


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  1. Hamdan HarrisFebruary 6, 2013 at 9:01 AM

    hi sunilji GM..
    can we go short on Nifty if it opens higher? If so, kindly let me know the level to enter pls..

    ReplyDelete
  2. UnknownFebruary 6, 2013 at 9:06 AM

    Good Morning SR...

    ReplyDelete
  3. AdminFebruary 6, 2013 at 9:19 AM

    trend + & stop around 5957 ?? hmm ? is that rite?

    ReplyDelete
    Replies
    1. AdminFebruary 6, 2013 at 9:21 AM

      hmm.. again turns back.. oops. lets wait

      Delete
    2. UnknownFebruary 6, 2013 at 9:27 AM

      Good Morning Doc! Positive trend only after break above 5974.

      Delete
    3. AdminFebruary 6, 2013 at 9:36 AM

      hmm .. it just gave a flick.. lets watch out .. nice trend following set up .. bye sunil ji.. will mail u at eod

      Delete
    4. UnknownFebruary 6, 2013 at 9:38 AM

      bye. tc

      Delete
  4. sHasHiFebruary 6, 2013 at 9:20 AM

    Good Morning Sir,

    ReplyDelete
  5. AdminFebruary 6, 2013 at 9:26 AM

    Good Morning sunil ji.. forgot to say that.. closely watching ur indicator from past few days :)

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 9:36 AM

      Thanks Doc! Shortly coming up with its ultimate successor, AutoChannels (Code Name: Reverse Engineered). The new version not only identifies trend, but also retracements and consolidation within a trend.

      Delete
    2. Mahender Reddy PulakandlaFebruary 6, 2013 at 9:54 AM

      That's cool Sunil.
      Great going.
      Keep up the good work.

      Delete
    3. UnknownFebruary 6, 2013 at 9:58 AM

      Thanks Mahy.

      Delete
    4. UnknownFebruary 6, 2013 at 10:00 AM

      Welcome you for your new venture

      Delete
  6. UnknownFebruary 6, 2013 at 9:29 AM

    Good Morning Sir .

    ReplyDelete
  7. sHasHiFebruary 6, 2013 at 9:30 AM

    Sir,
    Can you please share your views on Tata steel for the day.
    Holding 400 CE of the same @ 13.

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 9:40 AM

      Hi Shashi, Strong Res near 401-403, Above which can see 407.

      Delete
    2. sHasHiFebruary 6, 2013 at 9:44 AM

      Booked the profit at 14.60
      Thanks for the kind support sir..

      Delete
    3. UnknownFebruary 6, 2013 at 9:45 AM

      Most Welcome. Nice to know. :)

      Delete
  8. UnknownFebruary 6, 2013 at 9:44 AM

    Hi SR, Good morning
    On the verge of breaking 5974, can we expect +trend?

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 9:48 AM

      Good Morning Krishna, 5974 has been broken but the very next bar takes out the low of the breakout bar. Lacks positive strength. Not a good sign. Avoid taking long positions as yet.

      Delete
    2. UnknownFebruary 6, 2013 at 9:50 AM

      Thanks, already entered 6100CE small qty for intraday, lets c

      Delete
  9. Mahender Reddy PulakandlaFebruary 6, 2013 at 9:48 AM

    Good morning Sunil.

    I'm Late today, Had an extra nap. :)
    Levels for NIFTY and SBI please.

    Thanks
    Mahy

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 9:53 AM

      Good Morning Mahy, hmmm nice. Nifty Major res: 6017, Major support: 5048. SBI in short covering mode above 2375, Res: 2419, Supp: 2325

      Delete
    2. Mahender Reddy PulakandlaFebruary 6, 2013 at 10:05 AM

      I think u mean 5948.

      Thanks for the update Sunil.

      Delete
    3. UnknownFebruary 6, 2013 at 10:07 AM

      Yes, Sorry 5948 :)

      Delete
    4. Mahender Reddy PulakandlaFebruary 6, 2013 at 10:12 AM

      Don't be sorry Sunil, such typos will keep ppl like me on track and focus.
      I look at it as a test for us. :)
      Be cool.


      Delete
  10. UnknownFebruary 6, 2013 at 9:52 AM

    Sir can I buy Maruti 1650 call @ around 30 .

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 9:54 AM

      Hi Sonu, Enter if it breaks above 1634, for target of 1659 with sl below 1620

      Delete
  11. UnknownFebruary 6, 2013 at 10:16 AM

    Major Resistance for Nifty at 5977. Refer to tech. view. Nifty will be weak below it as long as Nifty fails to close above 5977 on daily basis.

    ReplyDelete
    Replies
    1. Mahender Reddy PulakandlaFebruary 6, 2013 at 10:18 AM

      okay, Can we enter NIFY PE for Intraday basis?
      Is it advisable

      Delete
    2. UnknownFebruary 6, 2013 at 10:22 AM

      For intraday: Not yet. For Positional, Every rise till 6085 is a sell.

      Delete
    3. Mahender Reddy PulakandlaFebruary 6, 2013 at 10:23 AM

      okay. We'll wait then

      Delete
  12. Mahender Reddy PulakandlaFebruary 6, 2013 at 10:22 AM

    Hey Guys check this out : http://mysticfunds.blogspot.in/2012/10/money-management.html

    hope this helps improve your trading and money management skills.

    ReplyDelete
  13. UnknownFebruary 6, 2013 at 10:45 AM

    So far a sluggish movement of Nifty & continues till 1:30 p.m?

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 11:08 AM

      Yes, movement is sluggish. Positive momentum above 5992.

      Delete
  14. sbrjFebruary 6, 2013 at 10:45 AM

    Hi guruji
    can bhel be shorted at cmp?
    please advice good stock to short and hold for a week

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 10:57 AM

      Hi sbrj, Bhel is a good short below 220 with SL above 222. Can be shorted on any rise for target of 206-7

      Delete
  15. tarunFebruary 6, 2013 at 10:56 AM

    hi SR,
    GM
    11 am closing may tell something about the direction ??

    also, SR, i have Zerodha, i want to see the chart of nifty (currently seeing nifty fut chart), how may i see that ?
    thanks

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 11:04 AM

      Hi tarun, GM, I think, you are using ZT. I'm not sure of that as I'm still using NOW. And using my own software for charts. Pls confirm with zerodha team.

      Delete
    2. DebuFebruary 6, 2013 at 11:26 AM

      Hi Tarun, for same issue I asked Zerodha TM, but they don't have spot index chart for nifty, banknifty etc. You have ref. some other websites for index charts.

      Delete
    3. tarunFebruary 6, 2013 at 11:38 AM

      ohh ok, thanks Debu.

      Delete
  16. UnknownFebruary 6, 2013 at 11:01 AM

    Trade for Option Writers: Short 6000CE and 5900PE at cmp about 103. On the upside keep sl for break above 5992.

    ReplyDelete
  17. sbrjFebruary 6, 2013 at 11:09 AM

    many thanks sirji
    please advice one more very weak stock in f&o which is ready for big fall

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 11:16 AM

      Most Welcome. Not sure as yet. Will check out and let you know.

      Delete
  18. UnknownFebruary 6, 2013 at 11:10 AM

    Hello sir at cmp its about 113

    ReplyDelete
  19. UnknownFebruary 6, 2013 at 11:11 AM

    Sir I am holding 5900 PUT (bought @ 34) , shall I exit @ CMP now .

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 11:19 AM

      Hi sonu, Should have booked it yesterday at opening as advised earlier. No issues. Hold with a TSL of 5992 on Nifty

      Delete
  20. UnknownFebruary 6, 2013 at 11:20 AM

    Ok Sir , Thanks .

    ReplyDelete
  21. Mahender Reddy PulakandlaFebruary 6, 2013 at 11:31 AM

    Sunil,

    What happended to SBI, sudden drop in it.

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 11:41 AM

      Hmmm... Not much. Its within average volatility of SBI

      Delete
    2. Mahender Reddy PulakandlaFebruary 6, 2013 at 11:44 AM

      Okay, Such dips can be entry for Intraday on long side?

      Delete
    3. UnknownFebruary 6, 2013 at 11:50 AM

      Yes. If trend is strong, such dips tend to test the support levels. Ideal for entry.

      Delete
    4. Mahender Reddy PulakandlaFebruary 6, 2013 at 11:52 AM

      That's cool. Thank you Sunil.

      Delete
  22. sbrjFebruary 6, 2013 at 11:42 AM

    Hi guruji,
    how is l&t looking to short. target?
    best wishes for your new AutoChannels tool Reverse Engineer.
    keep helping us all with your brand new techniques.
    thank you so much sirji

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 11:54 AM

      Thanks for your kind comments.
      LT has very strong supports near 1521 and 1503 levels. Will be a good sell if it breaks below 1503 for target of 1441

      Delete
  23. MaheshFebruary 6, 2013 at 12:00 PM

    Hai Sunil Ji...
    ICICI breaked strong support of 1158... may i know the downside target please...

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 12:06 PM

      Hi Mahesh, Immediate targets: 1147, 1136. Res: 1166

      Delete
  24. rameshbFebruary 6, 2013 at 12:05 PM

    GOOD MORNING SIR,
    can Dr reddy be added in Call for a week? cmp 1900

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 12:43 PM

      Good Afternoon Ramesh, No. looks weak below 1907.

      Delete
  25. MaheshFebruary 6, 2013 at 12:09 PM

    Thank you Sunil Ji...

    ReplyDelete
  26. ParitoshFebruary 6, 2013 at 12:17 PM

    GA Sunil, I don't have enough capital to make the short strangle call. Can you suggest any other position for medium/short term?

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 12:49 PM

      Good Afternoon Paritosh, Overall looks weak. Can go short on Nifty once it breaks below 5957.

      Delete
  27. DAlertsFebruary 6, 2013 at 12:17 PM

    Hi Sunil,

    HDFC giving a decent up move today. What is the short term target before feb expiry?

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 12:52 PM

      Its a pull back. Has broken above 802, Can test 822, 833. Go long only after it breaks above 833.

      Delete
  28. Mahender Reddy PulakandlaFebruary 6, 2013 at 1:06 PM

    Booked Profits on JubiFood on short side (Intraday) (entry@1127 and closed@1109)

    ReplyDelete
  29. UnknownFebruary 6, 2013 at 1:13 PM

    Sir short strangle is @ 110 , still can we short 5900 Put & 6000 call .

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 1:19 PM

      Hi Sonu, don't enter this short strangle now. We will enter shorts after we sustain a break below 5957.

      Delete
  30. Mahender Reddy PulakandlaFebruary 6, 2013 at 1:20 PM

    Sunil,
    Can we expect bounce in the market once europe open in green and stays in green?

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 1:39 PM

      Hi Mahy, Nifty has good supports near 5957 and 5948. If sustained, may see a bounce.

      Delete
  31. UnknownFebruary 6, 2013 at 1:51 PM

    sunilji.

    Holding nifty put...shall i hold or exit?

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 2:06 PM

      Hi neelima, If in profits book for now, or else may keep a SL above 5978 and hold.

      Delete
    2. UnknownFebruary 6, 2013 at 2:12 PM

      i am not in profit...purchased @11.9(5700 PE).....8 lots

      Delete
    3. UnknownFebruary 6, 2013 at 2:56 PM

      In that case, we need to hold with a SL above 5977 on closing basis. Can give good returns once 5948 is broken.

      Delete
  32. UnknownFebruary 6, 2013 at 1:57 PM

    Sir can we buy 6200 calls with SL of 5957 .

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 2:11 PM

      Hi Sonu, For intraday, Avoid buying options when momentum is low.

      Delete
  33. UnknownFebruary 6, 2013 at 2:11 PM

    Sir I am planning for 1-2 weeks , as we are near trend line support .

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 2:31 PM

      Hi Sonu, Technically upside is limited to max 6085-6100 as of now. OI also suggests the same. 6200CE would decay to less than current value in 1-2 weeks even if Nifty gives a bounce. Not advisable.

      Delete
  34. UnknownFebruary 6, 2013 at 2:12 PM

    Hi SR, Can we go short on SBI ?

    ReplyDelete
  35. UnknownFebruary 6, 2013 at 2:19 PM

    Sir, for long on Nifty,the immd. SL 5957 would suffice?

    ReplyDelete
  36. sbrjFebruary 6, 2013 at 2:23 PM

    Sirji, bought bhel 200 pe. may i hold it till friday for 200 target.
    there is rumor of 195 in 1 week, any chance?
    many thanks

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 2:35 PM

      Hi sbrj, Technically 195-96 levels are quite possible as it has broken a major support at 220.5. Supports near: 207, 202, 196.

      Delete
  37. UnknownFebruary 6, 2013 at 2:45 PM

    Ok Sir , can we buy 6100 calls at around 20 .

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 2:53 PM

      Hi Sonu, Entering calls now would have higher risk, but can definitely give good rewards, if things turn favourable. However, you may still buy the same on intraday dips after Nifty gives a close above 5977 on daily closing.

      Delete
  38. UnknownFebruary 6, 2013 at 2:56 PM

    Sir, I think SBI is weak.. It can break its support.. because it is not giving the bounce from its lower level...

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 3:05 PM

      Overall it is weak, but will gain momentum below 2354 and as such sl could be smaller at 2375. If you wish to short now, you will need to keep a SL above 2419.

      Delete
    2. UnknownFebruary 6, 2013 at 3:08 PM

      ok SR.. I think 2354 is a support of 38.2% retracement..

      Delete
  39. UnknownFebruary 6, 2013 at 2:56 PM

    Ok sir , thanks .

    ReplyDelete
  40. UnknownFebruary 6, 2013 at 2:58 PM

    Hi SR, If nifty close below 5977, then what will be the next target for nifty?

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 3:07 PM

      Hi Vibhor, Downside below 5948 can head to 5914.

      Delete
  41. sbrjFebruary 6, 2013 at 2:59 PM

    many many thanks sirji
    then will hold for 10 days.
    bhel near day low, your prediction rocks as always

    ReplyDelete
  42. Mahender Reddy PulakandlaFebruary 6, 2013 at 3:05 PM

    Europe recovered and trading in GREEN.

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 3:08 PM

      yes. But our markets still have a bearish undertone. That was the reason not to go long in the morning.

      Delete
    2. UnknownFebruary 6, 2013 at 3:16 PM

      In the morning entered 6100CE (bought) & after 1:30 entered Nifty Fut( bought)and exited both at cost, confusing market.

      Delete
    3. Mahender Reddy PulakandlaFebruary 6, 2013 at 3:16 PM

      Yeah, I understand.

      Delete
    4. UnknownFebruary 6, 2013 at 4:43 PM

      Hi Krishna, Remember the saying "The Morning shows the day"

      The first 5/15/60 minute bar generally indicates the market move for the day. It is easier to understand when markets open with a gap.

      If on a gap-up, opening bar is positive, markets likely to go up, but confirmation only after market sustains above the high of the opening bar.

      If on a gap-up, opening bar is negative, markets likely to go down, but confirmation only after market sustains below the low of the opening bar

      Vice versa for gap-downs.

      Delete
    5. Mahender Reddy PulakandlaFebruary 6, 2013 at 6:38 PM

      Thanks for sharing that Sunil.

      Delete
    6. UnknownFebruary 6, 2013 at 6:46 PM

      Always Welcome Mahy. Was planning to write an article on it with the title "The Morning shows the day" :)

      Delete
    7. UnknownFebruary 6, 2013 at 8:28 PM

      Thanks for your analysis and discussing the possibilities of gap up/down openings --- the opening bar is of 5-mint duration?

      Delete
    8. UnknownFebruary 6, 2013 at 9:22 PM

      Hi Krishna, Most Welcome. Ideally Opening bar of 60 mins should be considered. But even 5 or 15 mins bar may be used if it is a long bar with long body and can be confirmed later with 60 mins bar.

      Delete
  43. subinFebruary 6, 2013 at 3:08 PM

    GA SR.. itc 320ce worth to hold?

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 4:15 PM

      GA subin, Hold it with SL of 300. Can do well if it breaks above 308

      Delete
  44. sbrjFebruary 6, 2013 at 3:16 PM

    sirji, see bhel what a fall.
    free fall in bhel,l&t,icici,sbi
    this indicates our market weakness,right?

    ReplyDelete
  45. UnknownFebruary 6, 2013 at 3:24 PM

    Hi SR, SBI breaked its support...

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 4:17 PM

      Hi Vibhor, yes, can go short on it near 2354 which it should likely retest with sl at 2375.

      Delete
  46. tarunFebruary 6, 2013 at 3:30 PM

    hi SR,

    nifty neither rising nor breaking the support,
    what looks more probable ??

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 4:20 PM

      Hi tarun, Nifty has broken support of 5957. Technically Nifty today just filled the gap created yesterday and likely to continue further down towards 5948, 5914.

      Delete
  47. UnknownFebruary 6, 2013 at 4:10 PM

    Sorry guys, power failure since morning and UPS gave up about 20 mins before close. Just came back online.

    Nifty short strangle in decent profits right now at about 107. Those holding the Nifty short strangle may continue to hold for more time with SL above 5981.

    ReplyDelete
  48. sbrjFebruary 6, 2013 at 6:30 PM

    vix index is 14.26 down -2.40% what it indicates? please tell downside target for positional nifty short

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 6:50 PM

      Hi sbrj, Movement of 2-3% in Vix is normal. Vix generally goes down during a flattish session, Below 5948, Nifty can see 5914. You may read my Technical View on Nifty.

      Delete
  49. sbrjFebruary 6, 2013 at 7:50 PM

    many thanks for clarifying
    good night sir

    ReplyDelete
  50. sbrjFebruary 6, 2013 at 7:56 PM

    Sirji,one last doubt is should i book profits in bhel 200 put immed by opening?sorry for bothering you with many questions

    ReplyDelete
    Replies
    1. UnknownFebruary 6, 2013 at 8:17 PM

      Hi sbrj, No issues. Bhel may likely open lower with the markets. Book part profits at opening and hold the rest with trailing SL at 210. If only 1 lot, book at opening. Profits better in pocket than on table.

      Delete

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