we feel it is just the rebound so do not hurry to buy the market and if zone 4940-4960 is base for the market also trendline support on weekly chart then for sure market will test levels near the same again

NOW CAN BUY HEDGE OPTION POSITION - 4700 PUTS AND 5400 CALLS - PREMIUM @ 77-79 EXPECTED PREMIUM BTW 125-145

NOW CAN BUY HEDGE OPTION POSITION

4700 PUTS AND 5400 CALLS

BOTH IN EQUAL QTY AND TRADE IN QTY

PREMIUM @ 77-79 EXPECTED PREMIUM BTW 125-145

MORNING BOOKED 5300 CALLS + 4800 PUTS AND 4900 PUTS + 5400 CALLS

LETS WAIT AND WATCH ... FIRST SIGN OF WEEKNESS WOULD BE WEEKLY CLOSE BELOW 5110-5090 .... AND ANOTHER BELOW 4940 AND LAST HOPE FOR MKT AS PER THE CHARTS

NIFTY SPOT WEEKLY CHART DT 8TH AUG '11 -- LAST HOPE AND TREND-LINE SUPPORT 4960-4940 CLOSE BELOW WILL MOVE FOR 4790 / 4680 / 4550-4530

NIFTY SPOT - AT CMP WE HAVE BROKEN THE WEEKLY SUPPORT TRENDLINE - SO THIS WEEK CLOSE WILL BE IMP

NIFTY SPOT - AT CMP WE HAVE BROKEN THE WEEKLY SUPPORT TRENDLINE

SO THIS WEEK CLOSE WILL BE IMP PLUS

the best trade is to buy and sit with hedge option  position and keep booking and shifting

BOOK AND MOVE OPTION HEDGE POSTION TO 4800 PUTS AND 5300 CALLS

IF BOUGHT 4900 PUTS AND 5300 CALLS

AND THOSE HOLDING 5000 PUTS AND 5400 CALLS

BOOK AND MOVE OPTION HEDGE POSTION TO

4800 PUTS AND 5300 CALLS

THOSE MISSED OPTION HEDGE BUY IN 5000 PUTS AND 5400 CALLS - CAN BUY 4900 PUTS AND 5300 CALLS

THOSE MISSED OPTION HEDGE (76-77) BUY IN 5000 PUTS AND 5400 CALLS

NOW ON OPENING BELL ON GAP-DOWN NEAR 5100

CAN BUY 4900 PUTS AND 5300 CALLS

THOSE HOLDING 5300 CALLS @54-56 HOLD WITH CLOSING SL GIVEN ON FRIDAY

ELSE CAN HOLD BUYING 4900 PUTS IN EQUAL QTY

ON NIFTY FUT INTRADAY CHART THERE HAS BEEN INV H&S PATTERN - LEVELS COMES @ 5220 BUT WILL CONSIDER 5240

ON NIFTY FUT INTRADAY CHART THERE HAS BEEN INV H&S PATTERN
LEVELS COMES @ 5220 BUT WILL CONSIDER 5240
IF BREAK 5240 ON NIFTY FUT WHICH IS UNLIKELY
AS THE TIME IS LESS ... BUT IF MANAGE TO THEN
NIFTY FUTURE CAN RALLY BTW 80-120 POINTS

ONE SHOULD BET ON LEVEL 5090 AS THE STOPLOSS - ON WEEKLY OR TWO DAYS CLOSING BELOW - TGT LATER

ONE SHOULD BET ON LEVEL 5090 AS THE STOPLOSS

ON WEEKLY OR TWO DAYS CLOSING BELOW

TGT LATER AND BETTER WAIT FOR MONDAY 4 BUYING IN HUGE

HOWOVER ONE CAN ACCUMULATE 5300 CALLS ON DIPS

Today is INTERNATIONAL BEER DAY !!... and markets understood as BEAR day....!! =)) <:-P