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Posts Tagged ‘ NIFTY Technical Analysis ’

Dec 11
Friday

Conquering India’s Nifty

Filed under Stocks

We pulled another short at India’s NIFTY at 5165 (the resistance was at 5180) $2/point. Support is at 5090 (currently there). This beast is extremely difficult to tame - we have been trying with little success since NIFTY’s 19% rally post elections. Whilst we believe in the BRIC story and are generally bullish on India long term (since ~18% of its GDP is agriculture based) , we feel that India is due for a short term pull back. Danger is if the Dow decides to make a dash for 11300 - fueling every market to higher highs. I dare not imagine where the NIFTY could go if resistance is broken.

For now, India is the strongest market and it is at the highest level since the lows (5181). Every other market is below their highs by varying degrees. This, plus the fact that India rallied the most (thanks to the ridiculous post election 19% rally) puts it far ahead of the rest.

We will open a long ASX at 4608 $5/point and short India’s NIFTY at 5124 $5/point.

We have closed our ASX long $5/point at 4655 and NIFTY’s short at 5100. Profit of 71 x $5 = $355 (net spread)


All entries filed under this archive


Shorted India’s NIFTY
no responses - Posted 12.09.09
We shorted India's NIFTY in our personal portfolio after taking some profits in China (closed at 12880) and Hang Seng (closed at 21800) shorts (This is off the record of our public portfolio). Percentage-wise, NIFTY has outperformed China (and the rest of the world) over a 6 month period - ...continue
NIKKEI and NIFTY: Protecting Our Profits
no responses - Posted 10.12.09
We have closed $1/point (out of $5/point) of our long NIKKEI from 9580 at 10098, booking a profit of 518 points x 1 = $518. Judging by our track record of picking turning points (ie not very good), we will only unload 1/5.  We will unload another $1/point at every 50 point intervals.  Stops for ...continue
Protected: Long Term Capital Management
no responses - Posted 09.30.09
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What Technical Traders Are Saying About India’s NIFTY
no responses - Posted 09.25.09
Regardless of what the technical traders say (and yes we have scoured the internet to get a feel of what the "majority" are doing with India's NIFTY) - we believe the NIFTY's surprising strength is a God-sent for bears. If you are bearish, why short anything else? What the Techs are ...continue
Nikkei on a Launch Pad vs NIFTY on a Diving Board
no responses - Posted 09.25.09
Our long Nikkei position got stopped out at our entry point. We have an order to long at 10250 for $5/point. Whilst the 1% rally in the Nikkei is tempting us to take partial profits, we expect the Nikkei to power up quite significantly higher (or for the rest of the ...continue
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