BollingerBands

[timepass]

Bollingerbands for 12-06-2012.

A solid trending day, also the 4th day to breach the upper BB, ending nearly at the top of the bar.

Today's candle took support around 7EMA and bounced up..up.. and up, till the CEs were nearly the double of their intraday lows. The candlestick guys may call today's candle as "The Engulfing Bull".

Both the averages are green and pointing upwards; the "open mouth" has opened wider and the difference between the two is now 90 points.

The BB are widening (Range : 5103-4771, Width : 332)

1) At the time of this writing, Europe is trading in the green (upto 1%) and DOW futures are green too.
2) The rupee has weakened against the dollar by about 11 paisa, and the dollar index is at 82.33

Generally a weak rupee and a strong nifty do not go together, but apparently today the market had to digest the 12000cr stimulus package

India Vix = 24.20, NF ATP = 5081.05, LTP = 5120

 

[sid2012]

Thanks TP
I would say as expected

 

[timepass]

Bollingerbands for Wednesday - June 13, 2012.

A doji today, and the bar hit the upper BB for 6th session in a row. On the way down from 4th May, it hit the lower BB 9 sessions in a row. A small upmove of 5.55 points for Nifty, but the discount has shrunk, I think (will know for sure when the adjusted figures come in). The futures switched back and forth between premium and discount today. Both the moving averages are still green and trending up. The "Open mouth" has widened to 100 points, indicating that the uptrend is still intact.

The bands are still widening (Range : 5130-4771, width : 359), and today's bar is well above both the averages.

1) The rupee has gained 14 paisa against the dollar today. The dollar index is at 82.31 (uncomfortable).

2) At the time of this writing, European markets are trading in the negative (upto 1%) and DOW futures are also slightly negative.

3) India vix is up at 24.36.

4) For NF, Today's ATP is 40 pts higher than yesterday's, so maybe there is buying coming in at lower levels. Reliance was among the losers today. Nifty advance : declines was 671:709

What does all this mean for tomorrow ?? Indecision, as indicated by the doji. So it will be pretty much news /event based trading tomorrow. Maybe Nifty will make a dash for 5150 again, having failed to conquer it today.

India Vix = 24.36, NF ATP = 5120.86, LTP = 5127.25

 

[timepass]

Bollingerbands for Thursday, 14th June, 2012 - Support at 7EMA !!

Initially the market put up a brave face despite the mixed global cues and tried for 5150, but didn't succeed. Later on the inflation data created jitters in the traders and we saw almost continuous selling, with the nifty closing near end of the day. Today's bar took support at 7EMA, which is still green. 20SMA is green too and the "open mouth" still exists, but the gap between the two has narrowed slightly to 89 points. The BB have narrowed slightly (Range : 5141-4778, width : 363)

1) Today's ATP is about 30 pts below yesterday's ATP and the LTP is way below the ATP.

2) India vix is significantly higher at 25.71

3) At the time of this writing, INR is weaker by about 25 paisa against the USD and the dollar index is at 82.06. It had dipped below 82 last night.

4) Europe is trading in red by upto 1%, having begun mixed. DOW futures are slightly green.

What does it all mean for tomorrow ?? It's a Fryday after all. So, unless there is a strong reason to, it should be a "no trade"' day. The longs continue on EOD basis, till 7EMA turns red.

India Vix = 25.71, NF ATP = 5091.33, LTP = 5051.00

 

[mangup]

Bollingerbands for Thursday, 14th June, 2012 - Support at 7EMA !!

Initially the market put up a brave face despite the mixed global cues and tried for 5150, but didn't succeed. Later on the inflation data created jitters in the traders and we saw almost continuous selling, with the nifty closing near end of the day. Today's bar took support at 7EMA, which is still green. 20SMA is green too and the "open mouth" still exists, but the gap between the two has narrowed slightly to 89 points. The BB have narrowed slightly (Range : 5141-4778, width : 363)

1) Today's ATP is about 30 pts below yesterday's ATP and the LTP is way below the ATP.

2) India vix is significantly higher at 25.71

3) At the time of this writing, INR is weaker by about 25 paisa against the USD and the dollar index is at 82.06. It had dipped below 82 last night.

4) Europe is trading in red by upto 1%, having begun mixed. DOW futures are slightly green.

What does it all mean for tomorrow ?? It's a Fryday after all. So, unless there is a strong reason to, it should be a "no trade"' day. The longs continue on EOD basis, till 7EMA turns red.

India Vix = 25.71, NF ATP = 5091.33, LTP = 5051.00

Hi TP,
What is the rule of trading 7/20 MA & LTP/ATP funda with BB trading?

 

[timepass]

Hi TP,
What is the rule of trading 7/20 MA & LTP/ATP funda with BB trading?

There's no trades as per 7/20MA, these are just guidelines.

ATP : ST has a good writeup about it in his 'Thoughts on day/swing trading' thread. I am mentioning it here since last few days, and trying to work out whether there is any significance.

Today's ATP showed a downtrend after many days, and the "open mouth" narrowed slightly, as did the BB, all in all indicating bearish sentiment. Can't give any trading calls on this basis as yet.

 

[mangup]

There's no trades as per 7/20MA, these are just guidelines.

ATP : ST has a good writeup about it in his 'Thoughts on day/swing trading' thread. I am mentioning it here since last few days, and trying to work out whether there is any significance.

Today's ATP showed a downtrend after many days, and the "open mouth" narrowed slightly, as did the BB, all in all indicating bearish sentiment. Can't give any trading calls on this basis as yet.

Thanks TP,

In ST Da's thread, VWAP is used only for Intraday trading & working nice. I thought u have derived some technique to work on positional basis.

 

[timepass]

All this data is just in the nature of 'notes', not any strategy - not yet.

 

[timepass]

Bollingerbands for Friday, 15th June, 2012 - Back to Square one.

Back to square one. Again, support at 7EMA, again crossing 100EMA and almost kissing 200EMA. The mouth has opened wider and the BB have widened slightly (Range : 5166-4778, Width : 388).

1) Today's ATP is about 30 pts above yesterday's ATP and the LTP is 22 points above the ATP.

2) India vix is slightly lower at 25.54

3) At this time, INR is stronger by 30 paisa against the USD.

4) Europe is trading in green (0.5%-1.5%) DOW futures are green.

There is indecision in the markets the world over because of Greece elections, and specially in our markets because of RBI policy meeting on Monday. No predictions, but the bias looks positive.

On the weekly, the index has closed higher than the previous week.

India Vix = 25.54, NF ATP = 5119.52, LTP = 5141

 

[sid2012]

Hey TP
This is not today's chart, is it?