My Future Calls

RELINFRA (fut) could not rise against the onslaught in the market. On Friday, it dipped below 900. PCR OI is now 0.18 vs. .05 before - which is a 300% jump signifying a buildup of short positions on Friday. That's the logic. Now the levels...

RELINFRA(881.55) SL 930, TGT 830, 790

Medium Term support is at 669(spot) (yep, no misprint here). So further slide below 790 is also possible. So you can short every time it rallies, and keep booking profits. A close > 1000 indicates positiveness. And don't forget the stoploss, of course.
Paresh

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Paresh
If people put you on the SPOT, ask about FUTURE, and give you no OPTION;
just tell'em "the LONG & SHORT of it is How to Make Money!"
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Well, RELINFRA followed the script and dipped as far down as 747!!!!!!! I didn't expect that today, but who's complaining?? When Nifty dips below 3950, further bloodbath is in store giving you more opportunity to short. LTP was 782(fut). The next stop down is 720. Hopefully the market obliges tomorrow also.

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Paresh
If people put you on the SPOT, ask about FUTURE, and give you no OPTION;
just tell'em "the LONG & SHORT of it is How to Make Money!"
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RELINFRA (along with all ADAG's securities) seems to be in a free fall. It touched a low of 685(fut) yesterday, close to its medium-term support of 669(spot). All the support levels were taken out easily. CMP is 697.55(fut). After three days of battering, the markets are unpredictable. While US closed marginally up on GM's better than expected car sales numbers, Asia, BRIC countries are mostly down with some showing flat results this morning.

I have no words of wisdom except to say just watch that level of 669. If that also gets taken out, then what? Its 52-wk low is 562(spot). So far shorting it on every rise has given us good profits. I'd be willing to continue the 'winning' trend for us, albeit with strict stoplosses. Promises to be an interesting day again. A word of caution: I did observe the tendency for this stock to rise quickly with Nifty yesterday, so be ready to spot the reverse trend if it so happens.

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Paresh
If people put you on the SPOT, ask about FUTURE, and give you no OPTION;
just tell'em "the LONG & SHORT of it is How to Make Money!"
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On 2nd July, RELINFRA did go below our target of 669 to touch 657. And then as the market rallied 700 pts. the rising tide lifted it up to 800 levels giving opportunities to make money both ways. Today, 3rd July, Thursday, mkt opened up gap down as DJIA is in bear territory and oil was over $144. But RELINFRA mostly remained above 700 levels (touched 692 low). As I had noticed earlier, the stock has become very sensitive to nifty and tends to rise and ebb just as fast as the nifty. I made money by going long.

Tomorrow, Friday, 4th July, I expect DJIA to go further down (they are closed on Friday). With Reuters poll putting expected inflation at 11.44% (13-yr high), it's a reasonable assumption that our market will open gap down. Since Nifty has once again closed below 3950, the downward speed will be high.

Short RIL and SBIN futures at opening tomorrow.
RIL (2073) SL 2100 TGT 2050, 2000 (below this, 1950, 1800 possible)
SBIN (1071.50) SL 1090, TGT 1030, 1000

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Paresh
If people put you on the SPOT, ask about FUTURE, and give you no OPTION;
just tell'em "the LONG & SHORT of it is How to Make Money!"
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Sorry folks, I've a correction to make in my prev. call. I took the LTPs of prev. day in SBIN but the closing price was already 1090.85 (and RIL was 2070.60). So SL would be at 1130. Even though market has opened slightly positive, I personally am short.

In fact, as I am writing this Sensex is 110 pts. up, RIL at 2091 and SBIN at 1087. Even so, it seems worth creating a short position IMHO

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Paresh
If people put you on the SPOT, ask about FUTURE, and give you no OPTION;
just tell'em "the LONG & SHORT of it is How to Make Money!"
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