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

24-08-2010 - intraday report

US mkt charts are looking very dangerous....Dow jones seems to be going back to 9800 support levels ...if some kind of buying s not happening Dow will slip to 9800 support levels...enjoy your put positions along with the cash market positions....
Hope you booked your 75% profits in Hero honda and JSW steel
Dow seems to give a gap down opening and may slip to below 10k levels ...
cautious!!!!!dont have any fresh buy calls in equity market ....
Option traders can book partial profits in your put or call writing postions