Tuesday, August 24, 2010
24-08-2010 Daily update
It was a good day for options traders especially for 5600 call writers and 5300 put holders...as we have discussed earlier .....always have one put position to trade in equity markets(at this stage)....if u r trading only in equity market wait for a decent correction to happen...Dow is making lower lows every day and if it slips below 10 k levels..it can move towards 9800 levels where some fresh buying will happen..if that situation happens FII's would pull out money from Indian markets and invest in some cheaper markets ...Hope all of you are earning good profits with your JSW steel and Hero honda postions that you had till date and with the options calls (both 5600 call, and 5300 put)Reliance needs some more time to move up...Reliance is the major one which should lead the up move...If NIFTY creates new highs without Reliance it wont be sustainable
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From 10th august Dow has made every day lower lows (few days as exception) but when at the same time you see nifty it has grown and has even touched the level 5450 (near by, as i am very forgetful person) but yesterday it showed a correction of 30+ points. do u think will ur statement of FII's pulling out money would be if indian market keep on rising (even by a minor trend) or the situation of FII's pulling out money is completely dependent on dow jones?
ReplyDeletewhy should FII's keep the money in Indian markets at a higher level..they will sell it off and run away to other cheaper markets
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