Live Market

Wednesday, May 5, 2010

Gap Down

The market opened in a deep gap down which is unexpected by many including the professional traders.The market closed yesterday at 9620.00 and opened today in 9520.00(100points down)We were holding short and informed all our clients the Banknifty future will touch 9460.00 today and it took support at 9461.00 in the opening and went upto 9540 level and came down to 9445 levels. may break this level anytime as the Global scenario is still negative and seems to be lot of -ive inflows are coming in from the world corner.

In the afternoon time the market gained some strength and i was instructing all our clients there is a gap formed today from 9619 t0 9449 This has to be filled than only the market may seattle down or it will behave aggresive up and down moves..we had many intraday trades around 6 chances..But back of the mind we also felt "The market any time move high to the 9620 Level to fill the Gap and exactly it happened during the end what a high jump to attain this level and filled the gap.Infact it rose beyond that level and gone to 9628 level.
What will be the coming sessions? Up or Down?
As i see the MACD today which is unusual and hence the market was in oversold state it bounced upto 9628 levels and that will not change the trend..When i saw the ATP it was only @9511.00 level when market was in 9620.00level.So,The correction is not yet complete.i also got some information about nifty,put it here for your view's:-
4800 put oi increase 29%,4900 put 88% .players thinking
Markets not going below 4800-4900
5100 call oi increase 92% .5000 call increase 93%.
will we fall below it again?

.Anyway,i would like to share one of my clients feedback here:-

hi sir,
Second time in 1 month gap down we are holding short excellent performance.i am excited i will book profit in bank nifty.

He also attached a quote>
"People are afraid, very much afraid of those who know themselves. They have a certain power, a certain aura and a certain magnetism, a charisma that can take out alive, young people from the traditional imprisonment.... The enlightened man cannot be enslaved - that is the difficulty - and he cannot be imprisoned.... Every genius who has known something of the inner is bound to be a little difficult to be absorbed; he is going to be an upsetting force. The masses dont want to be disturbed, even though they may be in misery; they are in misery, but they are accustomed to the misery. And anybody who is not miserable looks like a stranger. The enlightened man is the greatest stranger in the world; he does not seem to belong to anybody. No organization confines him, no community, no society, no nation ". - Osho

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