re: Day trading Nifty & Banknifty Futures
Nifty has posted >150 points up twice this year. Once in May (2+%) and once in June (2+%).
In May, it made PH in the next three days and fell. We haven't seen that high since then.
In June, it was a gap up day and following day's bull rally was weak. Towards the end of the contract month, it made high and fell hard.
BankNifty has posted >600 points up only twice since 2000. Once in 2008 (6+%) and once in 2009 (18+%).
In Jan-08, it made PH in the next two days and fell. It took about 2.5yrs to touch that PH.
In May-09, that was a bull rally and gap up day. Till now, we haven't filled that gap.
What kinda conclusion one can get from this stat???
Nifty has posted >150 points up twice this year. Once in May (2+%) and once in June (2+%).
In May, it made PH in the next three days and fell. We haven't seen that high since then.
In June, it was a gap up day and following day's bull rally was weak. Towards the end of the contract month, it made high and fell hard.
BankNifty has posted >600 points up only twice since 2000. Once in 2008 (6+%) and once in 2009 (18+%).
In Jan-08, it made PH in the next two days and fell. It took about 2.5yrs to touch that PH.
In May-09, that was a bull rally and gap up day. Till now, we haven't filled that gap.
What kinda conclusion one can get from this stat???