If you are asking for my personal opinion, then presently I will be exited as the projection oscillator is negative. 5EMA is below 8EMA, the crossover having taken place, with a strong move 2 days ago. Stoch(8,3) below 40. DI+/DI- (5) have crossed over to bear side. ST (5.8,13,21) MA’s have all turned downward. With many MA’s bunched at 5080, there is bound to be tremendous resistance there. But exit scrip’s as per individual charts.
But at least 3 closings below 5030 only will confirm the negative view. I guess the markets are waiting for Copenhagen summit to conclude. Be cautious of OBAMA. I feel he will favor the EARTH. Which will see all markets moving down to realign to new realities………… But this could throw up new business opportunities, hence down move will be limited as govts will be compelled to spend huge sums on containing emissions.
Take care
Abe
From: sharetrading@yahoogroups.com [mailto:sharetrading@yahoogroups.com] On Behalf Of Jagdeep
Sent: Thursday, December 17, 2009 3:12 PM
To: sharetrading@yahoogroups.com
Subject: [sharetrading] for you abe
If nifty closes below 5030, should we quit from our long positions.
--- On Tue, 15/12/09, A P Abraham <abrahamap@airtelmail.in> wrote:
From: A P Abraham <abrahamap@airtelmail.in>
Subject: [sharetrading] Nifty
To: sharetrading@yahoogroups.com
Date: Tuesday, 15 December, 2009, 8:55 AM
Most markets are showing signs of rebound as of y’days close. Expect Nifty to do good today. At worst sideways. Today there is a quiet report about HCL-INSYS in wimax deals and systems being operational by Jan2010. This is a regular div paying co, Minimum 2 times a year. CMP – 145, BV – 59, IV – Abt 420. I hold it for the past many years. Presently on day and week charts it is on a down move. But I expect the next reversal to be strong. One may buy as close as SL 137. This is very LT hold scrip as its IV is very high. ESOP done recently at 105. So down side is very limited. One may invest at ones own discretion. Abe |
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