Going With The 60min Flow!!!

[rakeshluthra430]

Rakesh,

I suppose futures value will get adjusted and will not show the premium of Rs. 40/=, as it was throughout the day today.

Under the circumstances, is there any need to adjust the SAR or leave it at 4190+20 = 4210?

Is there any mistake in my understanding? If so, will you kindly throw some light?

Yash

Ok...you suggest me, if we do have to adjust...by how much shd we adjust??? 40 points? or 50 (we had that diff during the day)points?? or 20 points, bec that was the difference between the premiums (start of day and eod of Oct Futs).

Now you see....we are giving ourselves a chance to ignore the pivots (and we do have a 'valid' reason to do it)...and entering into a realm of uncertainty and confusion.

My suggestion-dont do it. We take the pivots on Futures charts as they come, without second-guessing the system. And by the way...there have been times when Nifty Futures of current month have been into a discount of upto 70-80 points...or a premium of 30-40 points, so this is not something unique or new which we havent faced before.

Thats my take on it...

Thanks

 

[SamFisher]

Rakesh,

I have a question here ( for my understanding only). We work with 60 min. charts of current month to decide PH and PL. Tomorrow, it will still be 60 min charts for current months futures although for the month of Oct. I suppose futures value will get adjusted and will not show the premium of Rs. 40/=, as it was throughout the day today.

Under the circumstances, is there any need to adjust the SAR or leave it at 4190+20 = 4210?

Is there any mistake in my understanding? If so, will you kindly throw some light?

Yash

Yash,
My understanding...
Pivot is a point at which Stock/Derivative faces a resistance/support, that is why the pivot is formed otherwise trend would have just continued. So in our case if nifty faces a 4207 yesterday's (pivot) it is fair to expect that to be a resistance level tomorrow too. After all we all track the price and react, not the premiums on them.

Just my thoughts seniors might correct me.

 

[rkkarnani]

does the stop loss for Nifty and Aban move since the lows have been broken??

Is this correct?

Nifty Oct SAR = 4188+15 = 4203

ABAN Oct SAR = 2394 + 15 = 2408

Also, do we add to our existing shorts??

When we see continuous charts the Oct charts figure wont be there in the chart tomorrow, the Month2 chart shall have the November values from tomorrow!!

Today's chart shall be continued with Oct futures levels of tomorrow!!!

So my view is that the SAR levels of Oct charts before September ends are of no consequence!!! No need to focus on them!! Look at Sep. charts and look the the latest Pivots in current chart which are going to guide our trades tomorrow!!

 

[man4urheart]

OCT series chart!

Stop loss is shown! IF we have GAP opening we will adjust accordingly on 5 min bar!

 

[TFL]

Whats the total points gained in NIFTY this SEP month?

 

[rkkarnani]

Oh ... as this was my first rollover I didnt know what to do .. I deleted the first month (which is sep) chart .. and renamed the second months chart (which is Oct) as first month

thanks for your post.

Some data vendors like eSignal donot show Month1 , month2 ,Month3 charts,..... They have Sep2008, Oct2008 chart, etc.The Oct chartin eSignal must have started at end of July contract rather on the begining of August futures and shall be continous till Oct ends!! Their Oct. chart today shall have the continous values of Oct contract only. We shall not be able to see the same levels that we traded in September in thier chart for Oct....
However when we have Month 1 , Month 2 and Month 3 charts, we have seemless levels, and the current month shows the previous months levles as traded by us.!!!

 

[musicjunkie]

I dont know why people are following levels of yesterda'y Oct contract.....Take the pivot high of whatever you see on current month chart from today. Thats how we backtested,
If you looked at next month future levels and exited/entered every thursday then do that.

My pivots as per whatever i see in my current month chart, (so september values)
^^although RK has already posted what I said.....kind of redundant
MJ-

 

[KomaL2099]

I dont know why people are following levels of yesterda'y Oct contract.....Take the pivot high of whatever you see on current month chart from today. Thats how we backtested,
If you looked at next month future levels and exited/entered every thursday then do that.

My pivots as per whatever i see in my current month chart, (so september values)
^^although RK has already posted what I said.....kind of redundant
MJ-

Sorry my mistake .. pls accept my apologies.

 

[musicjunkie]

Nope Komal, post not directed towards anyone.....We are all just putting our views here...

MJ-

 

[rishig38]

Can some one summarize the position of Nifty and ABAN before we open up?