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154 comments :
Wish you the same genius! :)
So, what's the plan for New Year's Eve? :)
uma,
on new year eve...we celebrate by burning santa(old man's effigy)and having merry party...HO HO HO..
lol!I didn't know of that custom!
Wishing you loads of fun!
Genius & Uma!
All the very best in the coming year, to you and your near & dear!
Tom
Tom, thank you for thinking of me and wish you the same :)
yes,uma,
its funnny custom here...
ppl welcome new year by burning Old worries...and they party(with local food thrown in!!!)till next mrng... :)
wish u the same to u, Joetom :)
good morning folks!
Shall we use this post for market chat or the technicals post below??
good mrng uma,
u most free to use this post for chat and anything under-the sun-talk..LOL
by the way...i will post pic of santa(new year) celebration of mlore if get one here on the blog..probably on 1 jan-09
bythe way uma and rmbhai u r also requested and invited to contribute some "forgone" year celebrations.. :)
wow! that will be lovely, to see your pics celebrating new years. over here we just have a terrace party at my sister's place, order some food, dance...burst some crackers. that's all :)
wow Unitech below 35, good for cheema
paaji,new year is on the house for us from u..be ready with ur piggy (land)bank profits..
genius, cheema is traveling home his leave got sanctioned :)
Unitech below 34!
o i c...then paaji..HAAAPPPYYY HOLIDAYS AND NEW YEAR...
Now 205 is the level to break with tata steel.
Good Morning folks!
Thank you for New year wishes, wishing you great partying on all 365 days in the coming year.
God have mercy on all those mackerel and shrimps :)
I normally celebrate new year by snoring gloriously (i am quite sure a pictorial representation of that would'nt be considered by many as and elegant addition to your blog!)
rofl...!! rm, I'm equally embarrassed of the kilos and kilos I've piled on since I started working from home many years ago
uma:
Good Morning! Does the self imposed trading emabrgo continue?
tata steel breaks 205! next support 199
rm: yessir! Will be lifted Jan 8th
Nifty might find support here. Each time they crack 34 for Unitech, Reliance starts moving up
uma,
8th jan any special day that day???
i heard abt pre-new year resolutions,not post-new year resolutions...LOL
looks bulls are desperately RIL hanging on there..
dont know till how much..they will hang on..
genius, by 8 Jan I will be completing 15 days of not trading! lol. That's very important. By the way, the 15 days also include the trading holidays lol.
uma:
Great resolve. Let us hope that we will be able to convert trading opportunity into greenbacks in the coming year.
If I could trade today, it would be tata steel long with SL 199
i dont see any chance of bounce back till "greenbacks with lots of green horns" come back to mkts...
till then scoop tiny profits...
yep rm!! Sniff-sniff! I really wana go long on tata steel now! too bad I burned up my money on bad trades las week.
genius! you are the same person who gave target of 3300+ and you were RIGHT! I'm telling ya!
uma,
i see this bear mkt to last atleast 1 and half years more.....
Jaggubhai:
Actually i wish (this is only a wish so far and needs much hard work to convert it into reality) to be able to earn from all phases of market. Because things always change out there in the real world and the same will be reflected in the market at times least expected by us.
genius: well it can last 2 years - there are plenty of signs that this time will be worse than 1930's. But right now, I see the bears having considerable difficulty with 2500 level. So upside to 3300 is a possibility
rmbhai,
if wishes were horses,even the beggars would have rode them...but right here problem is liquidity and confidence...
things change..so do situations.....
uma,
yes 2 years more is probability..
Jaggubhai:
Here is one optimistic beggar who is always willing to ride on wishes :)
abhi ye tata steel seedhe 260 jaane wala hai
rm: in 1930's depression, there were many bull phases which lasted several months. Human psychology eventually makes bears take profits off the table....and our eternal optimism makes us hope things will get better eventually!
Hang Seng is up today!
they say Japan is having the worst recession.
these days the stupid news channels are going on and on about the possibility of nuclear war between India and Pak
uma,
yaawwwwnnnn...i feelling bored abt newschannel..these days...
all they do is stale news....
yea genius...but they talk as if they are two steps ahead of CIA and Scotland Yard
uma and rmbhai,
chk GOLD..it has shot Rs.300!!!...whoopppppeeeeee
Oh! I'm no fan of the yellow metal. It's mainly mistrust for US economy that's fueling this rise...
2 steps ahead of scotland yard....
haa haa...newschannel think they are better than sherlock holmes...haa haaaaa
the best one was when some astrologer said he was going to die that day, they followed his a$$ all day and eventually he didn't die ROFL!
uma:
Media guys (most of them) are very mediocre people who know nothing and pretend to be expert on everything under the sun. None of them knows what a war is like and what kind of hardships it brings on to the nation.
I don't blame them though, it is the promoters of these news channels who have forgotten all sense of proportion and are running madly after TRPs.
wow, bears broke Reliance 1200 level! I think target was 1167
is it????ho boy,...he wud had a wonderfull time of his life...sorrounded by reporters...asking...
"swamiji,aap abhi zinda ho" every 30 sec....HAAA HAAA
rm: actually media people are too young they're straight out of college and they're taught to really hype things up. These days even the AUDIENCE in tv shows behaves as if they're stars.
tv journalists would have done the world a lot of good by shooting the a...... and making his prediction come true :)
genius: He was a virtually unknown astrologer! They aired him non-stop for hours and I think it was one of the top Hindi news channels...eventually he said, because of all your viewer's blessings I didnt die
yea rm, if they were smart they would have added a non-performance clause in the contract ;D
uma:
ROFL..the non-performance clause, that is really funny :)
Only the Internet has saved the day...otherwise we would be rotting in front of the tv
uma,
all bcoz viewer's blessings he didnt die...
if i was covering the event i wud have shot him dead there itself...to make his prediction come true..heee heeee
one watch such crap things in karnataka news channel everyday....
ndtv profit used to be good in the initial days when vikram chandra and nikunj dalmia were the anchors in the market hours. Now they have blokes who are talking about everything except the market.
day low 2813.75
rm: I think the tv channels take an IQ test before hiring and anyone over 35 is screened out
rmbhai,
i agree with u...dalmia is good at mkts than chandra..who is more in to political field..in my opinion...
even sarcastic remarks by Prannoy in primetime...make good sometime for mkt..haa haa
If they're hiring such STUPID anchors, atleast they should be handsome hunks - but somehow they manage to get people that are both stupid and average-looking
bears are just hell bent on cracking Reliance lol
See ya at 1167 Mr reliance
haa haaa ..yes uma...bulls are giving up on RIL....god save the mkts now.....
Reliance keeps making new day lows....even tho Nifty is stable.
Jaggubhai:
I like vikram chandra because he does not take his job too seriously and is not trying to hog the limelight. Now a days he is enjoying life, just anchors the gadget guru. Nikunj dalmia has disappeared, looks like he left NDTV.
uma:
if your observations are right, God must be taking an IQ test up there before injecting the chromosomes for good looks :)
rm: God is one entity I have mixed thoughts about....I believe in goodness, but not sure if I believe in God. Same goes for patriotism...I don't feel anything for India.
RPL and Satyam the only gainers so far
rmbhai,
"Nikunj dalmia has disappeared"-he has gone/taken underground..by the NDTV profit...since others are poaching ppl from every channel except their own channel....
chandra...yes...he is good looking...but sometimes...he looks verrrry dumb than paris hilton..while hosting GADGET GURU with rajeev makhni..(rajeev is good at all gadget and technology stuff,atleast rajeev shud be given responsiblity for tat progrem)
genius...each time I watch tv I feel they're somehow recession proof. So many ads even now!
Uma:
I think that the concept of God or some super power was created by philosophers to provide a support system to fall back upon during hard times.
Patriotism is just rooting for your country because it provided you means for sustenance and security, it is just like loyalty for your immediate family but in a broader perspective. It makes sense if you don't read too deep a meaning in it. That is my view for sure (to borrow DU's style.)
jaggubhai:
rajeev usually anchors the show alone, it is only when vikram is not feeling too lazy that he joins for a talk!
uma:
probably the ad rates have gone down. Look at it this way, if they don't reduce the ad rates they will have to make more programs to fill the time which may cost money!
rm: according to George Bernard Shaw, "Patriotism is your conviction that your country is greatest, because you were born in it" lol. that said...atleast I don't feel that watching a cricket match is my national duty...plenty of retards think it is.
uma,
yes,media is a recession proof field...since i come from media background...
during great depression media tats film(hollywood thrived)to extent tat many millionaires were created in media in recession period than manufacturing boom..
rm: the kind of shows they make, we should be paid to watch them!
genius: good observation! Maybe all the jobless people pass their time watching films!
Jaggubhai:
Hey that is interesting. Any vacancies for this retiree in graphic designing ?!
even a lot of Ultimate flop films recover their costs by selling TV rights
reason being...when ppl do not have any work..they watch tv and movies for entertainment....so more demand for charlie chaplins,Marx bros,laural and hardy types during recession
rmbhai,
i used to watch tat show only rajeev makhni..but somehow i lost interest once chandra came aboard....
same goes...vinayak pathankar for car and bike show..presently...he is preoccupied with current affairs than auto mag...
uma:
I am patriotic only to the extent that I pay taxes and obey laws!
Satyam up almost 5%, tata steel putting up a good fight at 205. methinks we will see an upmove
rmbhai,
i am starting my new entertainment venture...in mlore ,u can also join (no relocation expense will ebe paid)
perks:oppurtunity to meet "beautiful ppl and go different place free of cost"
jaggubhai:
I'd love to do that, just wanted to ask one question though. Would not knowing anything about graphic designing be considered a disqualification?
no rmbhai,
graphic designing is one of my specialisation..
i do Adfilms,telefilms,Even movies(if there is a producer who can lend his black money to me)...
Only Individual Talent and creativity is required to succeed in Media field... :)
lol!
ok who wants to bet on closing level??
me thinks we close over 2900
uma:
If i agree with you than how we will place the bet!
Gurudev:
Teacher is trying to circumvent her self-imposed trading ban by placing bets on the side. Please help her :)
rmbhai,
haa haaa...i m seeing tat....but wat to do??
lol!
I'm allowed to make paper trades.
that is right uma, and what is the harm in stretching the definition of paper-trade ;)
nifty seems to be making a break-out
top loser tata motors, 6% down
rm: nah...I know that in long-term, I can only gain by keeping the ban. In short term of course, there will be many temptations...some will turn out riht and some will turn out wrong.
genius: we're forming the same chart pattern as Dow, right??
uma,
in a min willl chk both charts,tell u
yes uma,u right...
but dow has solid support at 8000..
whereas nifty does not support :(
else its same pattern rise and fall...identical...
yea, Nifty broke yesterday's close. that's the difference
I mean Friday's close
Aaj bulls ko josh aa gaya!
uma:
ICICI Bank has once again crossed 420 :)
yea rm! ekdum 420 bank hai ;D
now bears trying to knock out tata steel
brb...after lunch
ok...i m back after my lunch ;)
I'm back
uma,...so sooon???wats menu for lunch????
its looks like shortcovering ahead of new year... :)
Uma:
Bears are spending a longer time on their lunch :)
bhindi sabji, daal chawal, rotis :)
rm: bears have some problem with indigestion ;)
arre bhai,
Winters are here (what if you guys don't feel it), Kuchh gaajar ka halwa to khaya karo!
gaajat ka halwa for lunch....sure bears will need go diet soon enough....
Jaggubhai:
They are gorging since Jan. Let them also learn to starve else they will forget how to hibernate :)
uma:
Nifty futures are closing on 2900, periliously close to your prediction-cum-bet. Good i did'nt take an opposite position!
I said close over 2900 :D
uma,
bang on tgt prediction,...
guruma,kya aap teach me...ROFLLLLL
mera bhi din aayega! bas Jan 8th ke baad aayega!
genius: thanks, but nifty hasn't yet closed ;D it can close anywhere
nice jump in volumes!
i wonder what Paaji is upto. Unitech is jumping on trampoline!
he's in jhook jhook gaadi, traveling home
let me check out Bollinger ka band baaja
Bullish target is 3062 guys
ok, as long as Nifty remains over 2848, we are in uptrend
SL 2848, Spot 2915, Target 3062!
Good risk reward ratio!
rm: no, not a good trade now. Wait for 2848 - we can retrace till there.
or try 3200 CE.
3041 is the target 1, sorry. I was in 3-month chart, I needed 5-day chart.
uma:
I was just day dreaming (after all what is a life without dreams), I dare not trade with SL greater than Rs 10. :)
rm: you can keep that SL by trading far out calls
ok for now just wait till 2866
yes uma,
tat wud be sensible strategy...
uma:
Not much fun doing that. Even if nifty is in a strong uptrend, by the time it starts having an impact on the premium of the far-out-of-the-money-call the time decay brings down the premium so much that you have to pay the brokerage from your pocket. Only time such trades are profitable is when nifty goes into a wild swing. But to get that once a year profit one has to invest in far out of money calls and puts throughout the year!
rm, u remember I had said, trading opportunity is near 2800 (long) and over 3300 (short)
If I hadn't been jumping in and out of silly trades, today woulda been a good day for me. Maybe I'll get my chance around 3300 next
rm: yea I know...from 57 bucks your call came down to zero. darnnn!!! This market kicks everybody around
uma:
Not that call, I goofed on that because i was too lazy to trade intraday.
rm: these days 10-Day SMA is the one to follow for Nifty
rm: best way to use out of money options is for hedging. fr instance, if you buy CE 3300 now, then use it to hedge your short - that would be a low risk bet!
but the risk is that we might not see 3300 in this FnO. In that case u have to be quick to exit.
Teacher:
Thanx!
most welcome
kaya piya kuch nahi,tension liya 12 aana :)
hope dow falls 10%..LOL...
Reliance is just rocking!
genius: yea I think Dow is due for correction
no no uma,
but i feel left out of todays rally...tats y if dows falls,then i can enter mkt tats y :)
I see...
there's always an opportunity around the corner
Day low 2912.9
Day high so far 2931.05
oops! sorry day low 2812.9
ok..uma..and rmbhai...goodnite...byeee
bye folks! good night
Goodnight folks!
Uma, you won the bet :)
thank you rm :D
Dow cracking genius! ;)
Looking forward to technicals
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