Going With The 60min Flow!!!

[milkyblack]

LANCO and JP looking good for a continued move up.

ABAN still short.

HDIL stop and reverse point now at 420

Saint

Hi Saint,

Got a query... regarding ABAN SL... yesterday we had a PH at 2393... and today we had a high of 2396... So now what is our SL in this case? Do we take 2393+room as SL or change it to 2396+room?

I ask this question not taking into a/c our latest SL (if considered) as the consolidation high of 2364+room! In case this is taken into a/c then the above question turns to be null and void so lets assume that this consolidation high is not formed !

I hope my question is clear enough !

Thanks

Regards

 

[riser3]

i have same question but in different way where do you think i can enter aban

entered aban

1 @ 2535
1 @ 2353

ABAN still short.

Is there any way we can predict that there is more shorting (nill on fno)

 

[rkkarnani]

Hi Saint,

Got a query... regarding ABAN SL... yesterday we had a PH at 2393... and today we had a high of 2396... So now what is our SL in this case? Do we take 2393+room as SL or change it to 2396+room?

I ask this question not taking into a/c our latest SL (if considered) as the consolidation high of 2364+room! In case this is taken into a/c then the above question turns to be null and void so lets assume that this consolidation high is not formed !

I hope my question is clear enough !

Thanks

Regards

Hi Milky, Part one is easy to answer....recently we had similar situation in NIFTY, when the SL and reversal levels were adversely moved, against the original level mainly bcoz of the room we give for a pivot crack.
Here also the 2396 has to be the level to be considered as becoz though it broke the previous PH of 2393 it was still shy of PH+room, so the latest level of PH becomes our reversal level!! Here the difference is just 3 points, but could have been more, as much as a rupee less than the room given!!

I also look forward to clarification on part 2 of your question!! Is it a valid consolidation and the bars at 12,1,2, and 3 make a multiple bar PH for SL and reversal!!!

 

[rkkarnani]

i have same question but in different way where do you think i can enter aban

entered aban

1 @ 2535
1 @ 2353

You probably meant to say that you have shorted Aban at 2535, and added to shorts at 2353, and now where to add more!!!

My view :
The initial entry would be below 2583 less room
The latest addition would also be below 2332 less room which has not yet triggered!!

There were a few adding points and the last was an adding point at 2412 less room on 18th probably, after the latest addition below yesterdays low would come!!!

Can you please explain on what basis Aban short was added at 2353, Maybe I am missing something obvious!!

 

[chintan786]

well ABAn breached its 52 week low 2380 yesterday... and given closing below tht... but now 5-min chrts are indicating bounce back and so is the TD sys.... in OI also some position cuts was there... lahtough it was not aggressive..

 

[milkyblack]

Hi Milky, Part one is easy to answer....recently we had similar situation in NIFTY, when the SL and reversal levels were adversely moved, against the original level mainly bcoz of the room we give for a pivot crack.
Here also the 2396 has to be the level to be considered as becoz though it broke the previous PH of 2393 it was still shy of PH+room, so the latest level of PH becomes our reversal level!! Here the difference is just 3 points, but could have been more, as much as a rupee less than the room given!!

I also look forward to clarification on part 2 of your question!! Is it a valid consolidation and the bars at 12,1,2, and 3 make a multiple bar PH for SL and reversal!!!

Thanks RK Sir,

Good to have a conversation with you after a long time... a bit busy nowdays so unable to be regular...
Thanks a lot for your reply! Yes I am aware of the NF stop loss that happened few days back!
Okay so have to follow it I think... that is the new SL ... no other way out!

About the consolidation part! there are 4 bars with the highs almost at 2363/4 levels... So it should be one consolidation....

I would be reversing to longs at 2384..... as have followed this method earlier also.... while being with the flow!
I might be wrong in doing so... and if goes wrong.... then went wrong!

Regards

 

[sandeep721]

Saint I am currently using EOD data with 60 min. updates, have tried everything but bars remain at 10.30, 11.30 etc

Dear Prabhjeetrana

I am facing the same problem as I am using the same service as you. So the first bar of the day is a 35 min bar from 9.55 to 10.30


Sandeep

 

[rkkarnani]

Dear Prabhjeetrana

I am facing the same problem as I am using the same service as you. So the first bar of the day is a 35 min bar from 9.55 to 10.30


Sandeep

This you cannot change unless you subscribe for there RT service, or any other RT service!!!
When a Charting Software gets the data for Hourly bar with the first bar ending at 10.30 , you just cannot adjust the software to display any other time frame!!

 

[rkkarnani]

Thanks RK Sir,

Good to have a conversation with you after a long time... a bit busy nowdays so unable to be regular...
Thanks a lot for your reply! Yes I am aware of the NF stop loss that happened few days back!
Okay so have to follow it I think... that is the new SL ... no other way out!

About the consolidation part! there are 4 bars with the highs almost at 2363/4 levels... So it should be one consolidation....

I would be reversing to longs at 2384..... as have followed this method earlier also.... while being with the flow!
I might be wrong in doing so... and if goes wrong.... then went wrong!

Regards

Thanks Milky, I would be more comfortable to visualise it as a Pivot had one of these 4 bars also had a lower low!!!! But yes its a clear consolidation or a Distribution, how to judge that???. The future price action shall clear this doubt!!! SO should be wait for reversing for atleast a bar to close above to get a confirmation!!!
Not trading ABAN as yet!! Paper trading ofcourse!!!

 

[yashodhan]

Dear Prabhjeetrana

I am facing the same problem as I am using the same service as you. So the first bar of the day is a 35 min bar from 9.55 to 10.30


Sandeep

Just a question for my understanding only. I may be wrong but does it really matter if the bars are at 11, 12, 13 hrs or 1030, 1130, 1230 hrs. The principle remains the same and it will still show the same pivots. Only problem will be that your charts will not match with others.

Pl. correct me if I am wrong.