Nifty Futures Trading Part 2 (Positional)

[Czar]

czar sir..just testing my trend lines ability..Do u agree with me that we have a limited upside upto 4100 only and a downside of below 3500 as ive interpreted..If any suggestions or rectifications plzz advice..

kammy

SatDa is the TL pro, Satda, please ascertain ?

 

[parttimetrader]

Alex, Czar, Guys...

I realize that almost all studies we look at and discuss are to allow us to better "read" what the market is telling us, instead of trying to predict where it will head next (except many proprietary studies in the very expensive AdvancedGET program).

Having said that, a rarely discussed indicator here on our thread is the Price ROC. What do you think that is telling us? Look at the weekly 12-period simple ROC. After going to -20, it is now consistently testing the zero line, even though the price has been falling. I see that as a strong bullish divergence (on weekly basis, and since this is a positional discussion).

I would interpret it as giving me comfort to put on and hold long positional trades, whereas earlier the balance may have been in favor of holding short trades (positional).

Agree/Disagree/Comments?

 

[orderflow13]

Ohhoo ..
every one are becoming bearish here, just checked last 4 pages .. short!! short! ..lol. i am waiting for the day when major finance Maxine come up with a cover of 'bear', that day i gonna buy for sure.Till now i am short

 

[pkamalesh]

Alex, Czar, Guys...

I realize that almost all studies we look at and discuss are to allow us to better "read" what the market is telling us, instead of trying to predict where it will head next (except many proprietary studies in the very expensive AdvancedGET program).

Having said that, a rarely discussed indicator here on our thread is the Price ROC. What do you think that is telling us? Look at the weekly 12-period simple ROC. After going to -20, it is now consistently testing the zero line, even though the price has been falling. I see that as a strong bullish divergence (on weekly basis, and since this is a positional discussion).

I would interpret it as giving me comfort to put on and hold long positional trades, whereas earlier the balance may have been in favor of holding short trades (positional).

Agree/Disagree/Comments?

hi ptt,
Agree with u on the roc part.Also the RSI has jumped up from its oversold state.Now it it continues to grow depends on the volumes.Just comparing the last months and this monhs volumes.If they can pick up with some improvement in the Rsi the we can go long.For now the range still remains intact 3500 to 4100.
Plzz check the chart and gimme ur views...

http://img217.imageshack.us/img217/nifty3rl6

kammy

 

[parttimetrader]

Yup... You are right. I think we need the price to start turning up on the weekly basis, whichever indicator you use to measure it - the price and ROC divergence alone is not enough to initiate the long. I am not very fond of Mark-to-Market losses, whatever my level of conviction...

 

[pkamalesh]

Yup... You are right. I think we need the price to start turning up on the weekly basis, whichever indicator you use to measure it - the price and ROC divergence alone is not enough to initiate the long. I am not very fond of Mark-to-Market losses, whatever my level of conviction...

great...any ways im kamalesh..can call me kammy..im an engineer now doin my mba...im 23 but found interest in the markets in the past 6 months and im learning the tech stuff myself..what do u do??

 

[dumdum20008]

Hi to all,
here is what i feel about current scenario ( post mid july to oct start),

(1)There are( not in our forum, but among my brokers's clintel, various street people, some old frustrated traders crushed by old bear run, etc.) random voices every time market comes near to 3800-3770, like--"ab to gaya",
and actually that turns out in old school story-- "bhachao-bachao sher(lion) aaya" but im still waiting for sher.

(2)Im dreaming of sensex 14200 in mid oct , and my dream party is spoiled by
"Singh (PM)" who "bhunged de lok sabha" and now election drive!!!. Nifty plunged by thunder to again 3800. I warn- its dream.

(3)Sum : this all is interpreted by chart, we are not going any where.
As a option writer this is our fav season. If dream extends -4300 CE ,-4400CE are welcome dish, otherwise wait to 3500 for massive long.

 

[orderflow13]

great...any ways im kamalesh..can call me kammy..im an engineer now doin my mba...im 23 but found interest in the markets in the past 6 months and im learning the tech stuff myself..what do u do??

gr8 to see a colleague u r also a mba finance ?

 

[pkamalesh]

gr8 to see a colleague u r also a mba finance ?

Yes alex....Mba finance...and im tensed coz my placements are starting next week..are u done with ur mba???

 

[orderflow13]

Yes alex....Mba finance...and im tensed coz my placements are starting next week..are u done with ur mba???

yup buddy , completed ( somehow ) 3 years back.... make a trading ur profession u dnt hv 2 get tense then.. just kidding,
is there going 2 be a campus interview or through placements ? ...
i can understand ur concern kammy , in this bear market most brokerages cutting there costs, banks following in tow,bznes houses looking for shrewd CA who can hide there losses rather than good financial manager,tough time for finance, but as a eternal optimist, i am sure things will be fine soon
All the best