General Trading Chat

[varunkochhar]

But price is not giving confirmation for fresh shorts.

 

[varunkochhar]

Now 23300 PE may only be bought above 102 with 80 as SL. Not before.

High made 101. Wait for 102. But it is risky as a Gap up may take the SL. One can wait for monday with same trade also.

 

[varunkochhar]

So as per OBV analysis there has been a reduction in open interest from higher levels today as people do not want to carry risk over the weekend.

 

[princy01]

So as per OBV analysis there has been a reduction in open interest from higher levels today as people do not want to carry risk over the weekend.

I am away for short holiday otherwise would have Shorted 23000, 23100 put for carrying

 

[Smart_trade]

Bajaj Twins Bajaj Finance and Bajaj Finserv both at all time high ....

Smart_trade

 

[varunkochhar]

Princy ji we shall talk about it on monday. I would not be comfortable shorting these puts with falling OBV. (Just not in my comfort zone)

 

[varunkochhar]

Something very strange happened just now (It is strange for me because i am new to tick charts). There was a very large volume bar 20000 contracts at 3:14 and the price bar did not budge at all. it opened and closed at 23350. I do not know what to make of it. Just sharing my observation.

 

[varunkochhar]

This was in 20Tick chart.

 

[princy01]

Princy ji we shall talk about it on monday. I would not be comfortable shorting these puts with falling OBV. (Just not in my comfort zone)

Joe Granville the father of the OBV has been extremely wrong on america markets for many years now, he was calling crashes in market

Not saying that OBV is bad at all, just saying it might be wrong also sometimes

Let's see what happens

 

[varunkochhar]

Next pivot high above 23350 is at 23359 so no longs below 23360 atleast.