TT:Both of You Welcome to Technicaltrendz,What a day of Trading? i want to ask first to BULL about this.
BULL:First of all,don't give credit to us for this late Rally,we done normal buying in some stocks and nifty.
TT:So you saying this a short covering Rally.really bear ?
BEAR:yeah,our target was to take it to 4500-4520 levels today,but fail to conquer even 4580,But we tried even after european market opened also,but when there also bull got upper hand ,we taught its time to cover our short postions.
TT:What your next target 4750 ?can we see 4800 in next week (to bull)
BULL:We will try to take market out of this trading range of 4300-4750.
TT :What you say BEAR ?
BEAR:let see,Two big boys RELIANCE,ICICI are trading in our patterns.More will follow in next week.
TT: So can we take 4500 as base for this month ?(to BULL)Because heavy put writing in 4500,4600,4700 PUTs
BULL:Yes
TT: What you thinking BEAR ?
BEAR : We don't cover our postions IN THE MONEY calls (4500),yeah there is covering in 4700 and 4600 ,because we don't like to take night risk of 3 days.
OK THANK YOU VERY MUCH FOR JOINING
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