General Trading Chat

[XRAY27]

new max pain levels please?

Nifty 7200 ~~~~~~~~~~~~ Bank Nifty 14100

 

[wisp]

Boxed pivot will become a VPL the moment price goes back above ERL. When price cracks that VPL, we will be in visual down trend.

 

[traderniftybank]

Today will it be open = low

 

[iwillwin]

What makes you think so

 

[timepass]

NF open = high = 7135.75

Looks like a spike, doesn't exist on the spot

 

[pratapvb]

a possibility ...this is a modification to a WW where we get the action in front of a vertical fall

 

[copypasteaee]

Boxed pivot will become a VPL the moment price goes back above ERL. When price cracks that VPL, we will be in visual down trend.

there are n number of variations to this statement, choose what looks better to you. Infact i have seen people painting buys and sells at EOD on charts and chose definition what favoured the most on that particular day. Some people say recent high should be taken and some says its irrelevant.

PS: In the figure the price has been shown crossing back above ERL!!

 

[copypasteaee]

Boxed pivot will become a VPL the moment price goes back above ERL. When price cracks that VPL, we will be in visual down trend.

Not necessarily visual down trend, depends on position of previous VPs. there are too many ifs and buts in that too.

 

[traderniftybank]

Today will it be open = low

didnt happen
Now looking BNF around 13730/700

 

[pratapvb]

Caution Maxpain followers

because we are far away from maxpain it does not necesarily mean we will get a rally

in fact a possibility is that many put sellers are now overexposed and could short the market to protect the position pushing market further down.

So trade the chart rather than looking for rally...sure trade the rally IF it comes