Friday, May 09, 2008

>Trading day 9th may

Nifty opened gap down but recovered smartly to come back to positive today being friday inflation nos were awaited ,Well numbers turned out to be higher than previous week .

Which set the stage for shorting nifty trading below 5050 was negative which paved way for 5000-4980 ,I expected nifty to show some strength near 5000 and bounce back but ultimately breached 5000 today it was mostly because of heavy selling in Mukesh Ambani led RELIANCE IND and RPL both fell in excess of 5% Selling in these counters were mostly attributed to the Rumor that "govt is considering to ban export of RELIANCE and RPL products"Lets wait and what really is happening and whether this remains a rumor or turns out to be true.

Today morning did one long trade in TVS MOTORS it was a good setup would explain that with a chart.

Did some jobbing in ifci long

In the later half of the day tried to long TVS MOTORS again but sl was hit!!!
Bombay dyeing was shorted below 970 this trade would have fetched great return provide done in futures since i traded it in ICICI i was not able to capitalize fully on the fall as they usually cove all intra day positions by 3o'clock well my short was covered neat 925 whereas it touched a low of 890:( Never mind i did make money in that.


Horseman said...

beloved friend
that is very
smart of u
to using all the available inputs to capture the market according to your wish, fabulous, keep it up, and thanks for your educating me personally.thanks

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