Time to Book Profit In Nifty

Right since middle of April I have been harping on the fact that we should be on sell side. In fact I have advised against investing in stock market at present and instead only trade in stock futures. You can see it in this post here Execute Your Trading Plan Now

Also since May I have been asking traders to go short in the market. Last time I recommended selling Nifty June Futures was at 6230 in this post here Indian Markets Chug Along - But Bulls Beware of Trap

As you can see I had warned bulls in the market to be cautious. Today Nifty June Futures slipped and closed at 6127. Those who have shorted Nifty at 6230 level can think of booking profit as market opens tomorrow and Nifty is around today's closing price. This should give them a neat profit of Rs 5000/- per lot in two days of trading.

Those who still haven't executed any trade can do so tomorrow. If market opens positive look to execute trade recommendations that I had posted today before market opening. You can look them up here Short Positions For 21st May : Stock Futures

Keep trading since you will get umpteen opportunities this May to trade on the short side. All the best!

Short Positions For 21st May : Stock Futures

Short Sell the following stock futures of May series to make profit:-

1. Sell CESC at  330/335 for target of 316
2. Sell Maruti at 1780/1790 for target of 1725
3. Sell Indusindbank at  520/525 for target of 490
4. Sell Kotakbank at 790/795 for target of 760 

There are others which may or may not reach their sell levels today. But in case they do, then you can also sell the following at levels indicated below:-

• Sell LICHSGFIN at 284/287 for target of  270
• Sell Yesbank at 537/540 for target of  519
• Sell Lupin at 800/805 for target of 750

ALL THE VERY BEST!

Markets Sell Off In Second Half - You Were Forewarned

Today markets opened with a gap up. Nifty June Futures opened at 6215, gap up of 14 points. It went to a high of 6247 and closed at 6174. In my last blog-post of 17th May titled Indian Markets Chug Along - But Bulls Beware of Trap I had forewarned that selling will be witnessed in second half of trading session. And that is why I had recommended selling Nifty at 6230. Some of you have heeded my advice and are short in Nifty. But those who are still debating, this post is for them. Tomorrow initially Nifty should move up and so you can short Nifty June Futures at 6190/6200. Reason is simple. You can see Bearish Engulfing candlestick pattern in Nifty formed after today's trade.

 

Hence those who missed selling today can go right ahead and sell tomorrow at levels indicated above. In case you send me feedback on what your opinion is or what your queries are, then I can be of more help. There are times when I also feel  the need to update you when the market is in progress. There are times when I can tell you to exit or enter market as per the prevailing conditions of the market so as to maximize profit. 

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Indian Markets Chug Along - But Bulls Beware of Trap

Nifty closed today up 17 odd points. It seems that bulls are having a field day and there is relentless buying with no topping over in sight. But stop!. Before we conclude any such thing, I have a different take of the situation. Its a set-up for a Bull Trap. Not in the classical sense but the final effect is going to be the same. The newly converted Bulls are going to be trapped thinking that there is plenty of steam still left in the market to make profit on the upside. But just the opposite is going to happen latest by coming Tuesday i.e. 21st May. By the way, selling in Nifty could also begin on Monday in the later half of the trading session. If we look closely at daily chart of Nifty, we find 'Hanging Man' candlestick created in today's trading.

 

So on Monday (20 May 2013) as  markets open, we should sell Nifty June Futures. I am recommending June Futures because we should get better momentum on the downside with June series. On Monday I expect a gap to be created on opening. Whether it is gap down or gap up, we should sell Nifty June Futures. This means that your sell could be anywhere in the range of 6180 and 6230. First Target for your sell will be 6000 and 2nd Target will be 5900.

If you have any queries then do ask through the comments section.You can also write your thoughts and suggestions for improvements. Share your thoughts and we will all be that much more informed. All the best for trading on Monday!

Short Selling - Get Ready To Take Another Shot

Markets are cruising along in overbought territory and we need to ready ourselves for another try at short selling. The last try was when I had given a call for shorting Nifty on 10th May. Check Here. And on 13th May Nifty had fallen 132 points intraday. But on 14th May I had warned of bizarre market movements with wild illogical swings and volatility in this post here. The very next day on 15th May Nifty rose 138 points intraday. Hope you can sense the true meaning of bizarre market movement. Lets look at the daily chart of Nifty.

What you see on a particular day in market is just some weird and calculated posturing by big players and not the true direction or trend of the market. So do not get carried away by these bizarre market movements. Selling is round the corner and if I am not mistaken it will start within next couple of trading sessions. I feel tomorrow's trading session will give us the final signal for selling. From that angle tomorrow is a very important trading day, which will define the market's direction in short term. Keep vigil!