Nifty Futures Trading Part 2 (Positional)

[pkamalesh]

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

Thx yaar...me too thinkin of hangin out with the market if no finance jobs are offered....by the way alex do u only trade or work somewhere as well..where are u from??

 

[orderflow13]

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 Asish
i really respect ur observation.
But i often found we get biased our technical readings.We see in chart what we like and ignore what we dont like.
My rule of thumb is .. if i dont have to squint my eye on the chart then that chart is very clear, if i have to squint my eye to look for signals then chances r m making mistakeat those time i skeep the trade. Right now without squinting the eye i can see that chart is bearish and as u said i will wait for weekly to turn +ve 2 jump in buy.
Bottom & top is for God and whatever in between is for me
p.s. no personal criticism, i hv a respect for u, and i learned few things from u. so forgive me if i beg to differ
Alex

 

[orderflow13]

Thx yaar...me too thinkin of hangin out with the market if no finance jobs are offered....by the way alex do u only trade or work somewhere as well..where are u from??

i am from pune and yes i only trade.. shamelessly as czar wd put

 

[pkamalesh]

i am from pune and yes i only trade.. shamelessly as czar wd put

haha..theres nothin to be ashamed of alex..actually i think to analyse and trade by urself would be the most difficult job.......

 

[orderflow13]

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.

lol.... do u know jim crammer ? i thing he is well known figure ( just google for his name )... well news is cnbc india found his own jim crammer name is dumdum, poignant as ever

 

[orderflow13]

There r few takers for VIX, as its relatively new for indian market ( NSE introduced 6 months back ) but as usual my argument is as shown in chart, we havent match previous top of vix, so we havent made a solid bottom

p.s. in short term chart is saying we r going to see high volatility, so we may see often up word bumps, but on very larger time frame, bottom cant be made with higher vix

 

[pkamalesh]

lol.... do u know jim crammer ? i thing he is well known figure ( just google for his name )... well news is cnbc india found his own jim crammer name is dumdum, poignant as ever

Alex i think 3880 and 3980 would act as the closest(100 points) range and as critical support and resistance levels above or below which we can take up a positional trade.what do u think??

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kammy

 

[orderflow13]

Alex i think 3880 and 3980 would act as the closest(100 points) range and as critical support and resistance levels above or below which we can take up a positional trade.what do u think??
kammy

yes kammy, ageed, if i want to turn ur words i wd say i will look for take a trade if one side is broken, otherwise silent watcher with calls and puts written in between the range

 

[orderflow13]

 

[pkamalesh]

Hi alex..all of asia is trading in negatie...dou think there will be much effect on the opening of our markets????gap down??