Hi Arsh,
Could you kindly please elaborate on, "Absolute levels in NF get priced in...."
I want to understand the significance of checking after 1:30 PM, if the global markets are always trading?
Hey
What I meant was that I don't judge the Indian vs FTSE correlation based on absolute % change or levels. E.g. as it was pointed out that FTSE was up 1.2% vs Nifty 0.3%. You have to look how you are measuring these %s. FTSE was up from 5950 (fri close), which it hit way after Nifty closed. FTSE was close to 6000 when Nifty closed on Friday.
Now, FTSE futures (not Index) started trading in Japan early morning today. They were already up 5960 from 5910 (~0.8%) between 4:30 AM - 9:30AM IST, and by the time Nifty closed, additional upmove was just 30 odd points. So, although FTSE Index opened strong (>1%), the actual new movement after opening was just 30 points (6000 to 6030 on Index and 5960 to 5990 on futures), as the previous 50 was already captured in futures.
PS: Please don't follow it without understanding the PA. I mainly use PA for trading, FTSE/SPX is just to help in decision making (like which support or resistance will likely hold, whether a move is fake or real etc). I find Nifty too volatile as of now, maybe with experience I will become better.