General Trading Chat

[timepass]

Three days story..
Gap down
Gap up
Gap down and filled

leaving permanent gaps in some pockets

 

[Fundootrader]

seems 7700 becoming new resistance from option data

 

[pareshR]

Three days story..
Gap down
Gap up
Gap down and filled

leaving permanent gaps in some pockets

like last month 17 to 31 dec same story
Ravi bhai enjoyed new year holiday from 25th

 

[rahulmalik]

So now, 7575 is a good support. This level is a must watch for closure

Just marked 1,2 day's previous day high,low close and open on a 15 min chart,see how they form important support and resistances.
Is this hindsight ?

15 min chart of Spot Nifty

 

[blackberry]

7570 +-

resistance become support
another
resistance become support

 

[arsh22g]

leaving permanent gaps in some pockets

It sure did in my pocket, second trading day of the year and running around cooling my burns

 

[amitrandive]

Just marked 1,2 day's previous day high,low close and open on a 15 min chart,see how they form important support and resistances.
Is this hindsight ?

15 min chart of Spot Nifty

So now, 7575 is a good support. This level is a must watch for closure

May not be a very ideal way ,but gives something to work with


15 min chart of Spot Nifty

 

[Fundootrader]

Put unwinding - 7600/770/7800
Put increase in OI -- 7300 (highest)
Call increase in OI -- 7700 (highest)

Two interpretations -

a) Market participants expecting another dip - Put writers unwinding and placing bets at lower levels

or

b) Market participants expect drop over - Put writers unwinding, 7700 Levels expected and buyers buying at 7700

Not sure which to follow - Still short holding positions - Expecting one last ganga snan dip - as even at low level - capitulation didn't happen

 

[simplebuthard]

Put unwinding - 7600/770/7800
Put increase in OI -- 7300 (highest)
Call increase in OI -- 7700 (highest)

Two interpretations -

a) Market participants expecting another dip - Put writers unwinding and placing bets at lower levels

or

b) Market participants expect drop over - Put writers unwinding, 7700 Levels expected and buyers buying at 7700

Not sure which to follow - Still short holding positions - Expecting one last ganga snan dip - as even at low level - capitulation didn't happen

Check OI data after 5:30 pm.. will be updated later some time only after market closing.

 

[Fundootrader]

According to my calculation... 7500 at 1200 hrs. Anyways, 7300 seems to be bottom now, and that is not far off.

Based on what data/chart 7300 seems to be bottom now ?