Nifty Futures Trading Part 2 (Positional)

[orderflow13]

SCO value helps a lot.. provides gud guideline. But is there any way of using it for stocks also //??? Searched a lot but dint find such an indicator any where. If some body got any clue plz let me know.. Now it is above 81.. does that mean not much upside from here???

SCO means strength comes overnight .. sorry bro just kidding,i also could get more material on it... but we can saw if our rsi rises sco rise multiple of 3,4 something,when rsi fall .. same calcualation ..its pure my speculation as its rsi tweak and jumps lot more than rsi ....though i am as blank as u about SCO

 

[Sunil]

second that, Ashish...
all indicators are worth the comfort factor of the user... and u need full 4 weeks' obeservation/study of them to accomodate them in your trading system...

Tullika, as per that chart, it's closing above +95 levels that indicates "over-bought"...

and check out the values for 15,16 & 17 (this week) all closing below or around 5 ("over-sold") with intraday bounces coming on 16 & 18... before fully relying on something new, observe & study them.

 

[orderflow13]

I wouldn't read too much into the SCO value for the same reason that a high RSI value (traditionally indicating 'overbought') doesn't imply prices will come down. I am sure you know this, but very high values being registered for price oscillators (e.g. RSI) is the first thing which happens when a trend reverses - the oscillator moves high and stays 'overbought', and prices keep rising. That is the inherent problem with using oscillators traditionally - work quite well in ranged markets, but fail when a (new) trend sets in - an uptrend in this case (my $0.02).

rightly said so ...but we use for adv. as when rsi remains overbrought or over sold for more than 25 % i assume market gone in to the directional trend..

 

[parttimetrader]

I think SCO stands for nothing more than "Stochastic Oscillator" - Not sure how the author of that web page calculates it, but it could be similar to the "Ultimate Oscillator" which uses different time periods to calculate ranges.

en.wikipedia.org/wiki/Ultimate_Oscillator

 

[uasish]

OK now got it if you all are so inclined to discuss Stoch. & RSI can do so some time after Mkt Hrs some pre-informed date,
in this thread

http://www.traderji.com/technical-analysis/13439-technical-indicators-do-they-assist.html

as such it seems some dicussions are long pending there.

 

[orderflow13]

I think SCO stands for nothing more than "Stochastic Oscillator" - Not sure how the author of that web page calculates it, but it could be similar to the "Ultimate Oscillator" which uses different time periods to calculate ranges.

en.wikipedia.org/wiki/Ultimate_Oscillator

checked... granted larry is wizard... but i hv always one qs for this,may some one help me.. how can any indicator be ultimate without using volume in it... he just used avvrg. true trange n last closings ... sum up all n divide by 100.. where is vol. ?

 

[orderflow13]

write 4000 put at 98.65

write 4100cl 84.90 ...

nifty 4222 short
write 4300 call at strike 54.55
write 4200 put at srike 62
brought r. fut at 2012
cover 4100 call at 186
cover 4000 put at 23(vth brk.) ( total 209 - 184 = -25 point,)

 

[Czar]

1/2 hour chart...

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[orderflow13]

czar,
your famous pink line saying res at 4259?

 

[Czar]

the line is around 4345 & around 4180 below maybe time for down pull back