General Trading Chat

[rahulmalik]

Series highest OI now at 8000 PE, and also 30% more than 8500CE.

Looks like Nifty will most likely touch 8200, before any major sell off.

 

[Riskyman]

Looks like Nifty will most likely touch 8200, before any major sell off.

That will depend on what global markets do. SPX is trading above the 50% retracement of the fall from 2105. Should it fall below 1960 levels then it will be a bearish reversal.
For Nifty the 50% retracement mark falls somewhere at 8090 levels. Any failure around these levels can drag the Index down back to 7660 levels on it 5th wave. Now wave 4 in progress.

 

[Smart_trade]

Today Gap... seems to be...

2 -3 days back bears were in the boat and bulls were showing the photo frame to them...so everyone sits in the boat turn by turn...

ST

 

[pravi_kanth]

Is it a good time to buy stocks for long term now as Nifty is way above 7700 and closing higher in last session as in starting of uptrend?
I am looking into major stocks like Infosys, Icici, Eicher, Motherson etc.

 

[Smart_trade]

That will depend on what global markets do. SPX is trading above the 50% retracement of the fall from 2105. Should it fall below 1960 levels then it will be a bearish reversal.
For Nifty the 50% retracement mark falls somewhere at 8090 levels. Any failure around these levels can drag the Index down back to 7660 levels on it 5th wave. Now wave 4 in progress.

Can you please post the chart with waves marking ? Not seen Eliott waves marking for a long time....

Smart_trade

 

[arsh22g]

ATM Nifty Sep options are very illiquid, wide bid-ask spreads :annoyed:

 

[Riskyman]

Can you please post the chart with waves marking ? Not seen Eliott waves marking for a long time....

Smart_trade

Ok time permitting

 

[Smart_trade]

Ok time permitting

You can post the chart in the evening....if you have the chart on your charting software, it wont take more than 10-15 min max to post the chart...I am sure you can spare 10-15 min from your busy schedule.

Smart_trade

 

[wisp]

You can post the chart in the evening....if you have the chart on your charting software, it wont take more than 10-15 min max to post the chart...I am sure you can spare 10-15 min from your busy schedule.

Smart_trade

Da,

A search for nifty elliot wave took me tothis chart

 

[rahulmalik]

Series highest OI now at 8000 PE, and also 30% more than 8500CE

8000PE - 4,293,025
8500CE - 3,025,075

Fierce fight for OI addition at 8100 CE and PE. Both have nearly equivalent addition of OI today -

8100 PE - 409,275
8100 CE - 415,350

Given the massive OI addition at 8000PE, bulls seem to be having the upper hand for now.