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WHY IS EVERYONE IN A HURRY TO SHORT??---By Syam Nair
| From : Syam Nair at 09:10 PM - Mar 10, 2010 (23 months ago) |
WE SEE MORE THAN 80% OF MEMBERS SHORTING NIFTY OR BUYING PUTS IN A HURRY THESE DAYS...BUT MARKET JUST REMAINED RANGEBOUND...
OFCOURSE THERE ARE NEGATIVE FACTORS LIKE OVERSOLD RSI TO BACKUP SHORTING...
BUT FOR THOSE WHO THINK,MARKET WILL CRASH....I AM PRESENTING HERE...
WE HAVE MORE POSITIVE DATA HERE THAN NEGATIVES
...AS PER GLOBAL CUES...NASDAQ IS AT IT'S 52 WEEK HIGH...DOWJONES ABOVE 10500...FTSE ABOVE 5600....
I HAVE RARELY SEEN A OPTION WITH OVER 1 CRORE OI AND THAT IS 5000PE...THUS,OPTION DATA ALSO REALLY POSITIVE...EVEN IF A TECHNICAL CORRECTION HAPPENS,WE WILL SEE A HUGE BOUNCEBACK AROUND 5066...
I AM NOT SAYING DO NOT SHORT....BUT WHY DO WE NEED TO HURRY AND SHORT IN THIS RANGEBOUND MARKET??
LET MARKET SHOW US THE DIRECTION...WAIT A LITTLE...STOCKMARKET IS ALWAYS THERE...
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Dear Bhikka I just saw Nifty chart at your thread I have a physical record Sensex and Nifty since 2002 to current date at closing base>The chart is good to see the previous up and down movement of Nifty which you send in your thread.At present Nifty is moving in a limited circle which is good for day trader and if we get a chance to buy at 5000 it will not bad for take it for April because I think Nifty will take some up movement in the next month Downside is not expected until it break 5000 level so it will be a good opportunity to buy at lower level either stocks or Future index.
I hear ya My Friend .... reason why i agreed with you to NOT SHORT right away & i did notice you were'nt asking people to BUY either..... but i was making a point that people should be careful before trying to buy at these levels...... as for Options Data...we know they change pretty fast ..like it was 4800 PE last month having OI of 77 lakhs but Nifty did break & go to 4675..... ^_^
Thanks to all friends for their views..
To Bhikka ji:I am not telling anyone to buy at this level but nor to short...What i intend to say is wait for market direction instead of going blindly for shorts...Since,overall world market is positive,a single positive news is enough for NIFTY to explode trapping all those shorts...See the dangerous 5000Put OI over 1 crore supporting bulls...You rarely see that....a OI of over 1 crore....
Mr. Syam...... take a look at this thread & leave your views on it.
http://www.mudraa.com/singlepost.php?messid=44144
I Agree with you on that Mr.Syam ...but do want to add why people want to BUY at these level when they were'nt willing to buy when Nifty fell to 4700 levels ...... Since Sep 2009 to 10 March'2010 Nifty has been in a range of 4540 to 5310..... why try to buy closer to the Topper End of the Range that too when Technical Indicators are'nt supportive either...
KINDLY CORRECT OVERSOLD RSI TO OVERBOUGHT RSI...TYPING MISTAKE
well said syam. Daily more shorting is happening with anticipation of market crash [like crash after budget] and I also feel that NIFTY may reach higher and will be range bound of 100 points.
sham ji i think that there is no large correction in nifty from 4850,
market is continiously in upside movement, so i think every one expecting a large correction,
it's personaly my view
Good Evening Syam Nair JI .........Many Many thanks you always give Nice views.......live in the present....let the future come ...forget the past what ever it was on 09 Mar 2009....enjoy the present data....keep it up....God Bless You
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