General Trading Chat

[mudraatrader]

seems like babaji is looking for 16444 and 7730

exactly
If NF breaches 7777 and does not revert
then 7750, 7725 possible

 

[timepass]

BNF if breaks 16475 (and does not revert)
then 16425 and 16400 possible

Banknifty rangebound over a month now. Maybe a consolidation of the previous uptrend, or maybe a bearish 1-2-3 in the making. I think it will not breach either level till the RBI policy in early June.

 

[Mungus]

can u explain/further clarify , how to use vwap @ opening /1st hr to determine whether day is likely to be trending or sideways ?

haha Vijay,leg pulling kya?I got VWAP from your thread only as main thread got deleted.

Cant explain better than ST Dada and Pratap Sir.

1)We have ST Dada's post on-How to identify trend market and range market.(I think it has in Candle's Thread).
2)IF previous day is a strong trend day or simply a crazy fall-strong rise then next day is expected in range/consolidation/tuktuk/pingpong.

Isn't that happened today also??

Rest all is VWAP Logic naa.

 

[timepass]

Not much strength in Bear move.Aggressive profit booking /buying at lows.No surge in IVs at market extreme.No covering in 7800puts or adds in 7700 calls.There is No panic.Accumulation is on.

BNF : today it resisted going down by knocking thrice on yesterday's close (16563) and bouncing up. Now that it is below that, I guess it won't break that level easily.

 

[mudraatrader]

May be premature to say
but
NF, BNF seems reverting after touching their crucial levels

 

[vijkris]

haha Vijay,leg pulling kya?

no intention of pulling the leg.

just trying to learn !

 

[vikas2131]

any bad news or something??...sudden down move while other markets are in positive

 

[sherbaaz]

one simple way of finding whether its going to be trend day or not (strong trend day) look for the range of floor pivots (from R1 to S1) if current day's R1S1 range is completely inside the previous day R1S1 range expect strong trend day. it wont happen on many days but when this happens we have strong trend day

regds,s

 

[timepass]

Bearish 315 crossover in Banknifty

 

[mudraatrader]

May be premature to say
but
NF, BNF seems reverting after touching their crucial levels

Lagta to hai

BNF holds 16475 rigidly
and
NF after breaching 7777 holds 7750

baaki baba ji ki marji
Somvaar unhi ka din hai