Daniel Mankani "DynamicTrader – Trend Trading Dynamics" Trading for a living, systematically profiting from longer term trends.

22Jun/12Off

TRADE-BLOG: Nifty M12, 5137 is Pivotal

REFRESH

5124/5 to hold. And we will see 5101-5097. 5102 seen, 5090 is next in focus. 5104 keeps on struggling, whoever told them, holding on cheaper INRS and markets go up, is fooling them once again. We may dangle here upto 5120 and see what europe has in store for us.

5098-5100 attempts to make it hold. Note its friday, you don't want to go home, with a long. Europe could still implode over the weekend, Monti says a week before disaster. Below 5092, 5090 offers hold and a skip towards 5081.30 and 5076 region...stuck in a range till then.

5124/5 topside exhaust. Testing, and back off now, lets play in between.

Follow the EUROZONE. crisis live here

5131 zoomed up. could be the exhaust. view remain bearish or closing here at best. If the key pivotal level holds, then we are indeed going to attempt 5178 once agian.

Lets give it another 5 minutes to mark its mark. I can'T see a higher unchanged closing on a friday.

If this is leg 2 of the downmove 5340-4840 ?, then the max upside potential should remain at 5178-5195 region and not breach 5217 region, in any case, or else the short trade is questioned. We will see 4840 for a minimum once again in the coming month. This upmove could be attributed from some good talk from the eurozone, which will fade away like the rest.

Markets have yet to retrace back a certain portion from the recent peak highs. Goldman sachs calls for SP 1285, a 5% move downwards, puts a contrarian into thought. Do they have whiff of a QE3 before the rest of us and finding another way, to sucker their clients.

We need to close below 5110 region. a gap up still remains or to be filled on monday. Short agianst 5217 region as a stop. We will see 4840 region as a target, putting risk/reward ratio for a min of 1:3.

INR now at 57.21/22 with highs of 57.33 netdania reports.

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5137 is acting pivotal.

5149, bounce.. a 50 point move can deliver a 50K,100K, 1M INR delta..This upmove could provide some understanding of your option trade. Just understood our size exposures.

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5137 held up, 5178 gap now in focus. Nifty Cash needs that to be filled as well. A turn down has to begin somewhere around here, an hour closing is coming up on the horizon.

Bank nifty is recovering similar to European Banks, who are also covering their gaps.  EUROzone is drivng prices, EURO sees 1.2518 earlier.

 

REFRESH

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