Nifty Futures Trading Part 2 (Positional)

[Czar]

Tomorrow or ?, planning to long nf (in discount) when spot is at 4197.xx. Stop loss of 5 - 7 points i.e. 4192 - 4190.

Czar, your comments please.

Regards.

Tomorrow or ? (is that to me ?)

Ya you're right, like I told Asishda "ahh pinch me sumone... I was on the verge but I will wait for a hourly pullback candle... lets see dada..."

so after 1 green & 1 red candle we should know entry, though Asish da being operator we should'nt consider beating his price now after Inflation + US + crude easing... so I may join going with 60 mins gang....

 

[nagendra_gb]

Tomorrow or ? (is that to me ?)

Ya you're right, like I told Asishda "ahh pinch me sumone... I was on the verge but I will wait for a hourly pullback candle... lets see dada..."

so after 1 green & 1 red candle we should know entry, though Asish da being operator we should'nt consider beating his price now after Inflation + US + crude easing... so I may join going with 60 mins gang....

but i feel even though markets have gap up tomorrow it wont be much because of GDP numbers coming in afternoon. May be after GDP numbers we can expect big rally.. traditionally first day after expiry markets will be up.. just my view

 

[mitasatyajit]

Tomorrow or ? (is that to me ?)

Ya you're right, like I told Asishda "ahh pinch me sumone... I was on the verge but I will wait for a hourly pullback candle... lets see dada..."

so after 1 green & 1 red candle we should know entry, though Asish da being operator we should'nt consider beating his price now after Inflation + US + crude easing... so I may join going with 60 mins gang....

No No, u misunderstood me. OK, 4197 may touch tomorrow, but from hourly DT lines there are 6-7 hours to cross the first DT, and then .... (I have not counted yet) bars to cross second DT. I could not post the chart due to imageshack problem. Now there is a possibility, nifty goes up for some hours and then come back again to touch 4197 for double bottom and again for tripple bottom. As we have noticed that the fut closed at premium (not discount), there is no panic selling. If there is no panic sell, nifty may not start move upward. As explained, hourly chart also says that.

That is the reason, why I am asking u this question. I think I am now clear to u.

 

[Sunil]

Return of chowkidaar

here comes spot 4220
positional long done

it is apparent panic has been used to enter longss...
look at sept prem now

ok yaar...
i did what i had already planned...

what we have in this 4220-4200 band...
1. 50% FIB ret support
2. Jan 08 TL support (a bit controversy here)
3. 50DMA
4, Round figure support....

all these i had mentioned in morning + qty is not that big for MM...
aur bears ki delhi kitni door hain.. sub 4160... ard 50 pts from my entry...

and i really want my chokidaar back 4315 as 1st target

After the successful launch & run of Satyajit da's "ENTER THE DRAGON" & "RETURN OF DRAGON", with his blessings, I am planning to launch "RETURN OF CHOWKIDAAR".

First clap/slap tomorrow.. please attend the ceremony from 9:55 am to 3:30pm. After that, lunch at Satyajit Ray's place.

All BULLS are welcome.

 

[mitasatyajit]

Re: Return of chowkidaar

After the successful launch & run of Satyajit da's "ENTER THE DRAGON" & "RETURN OF DRAGON", with his blessings, I am planning to launch "RETURN OF CHOWKIDAAR".

First clap/slap tomorrow.. please attend the ceremony from 9:55 am to 3:30pm. After that, lunch at Satyajit Ray's place.

All BULLS are welcome.

Return of the dragon may start at 4448 september. Upto that time we can all enjoy Sunil's moovie "RETURN OF CHOWKIDAR".

 

[mitasatyajit]

Chart attached.

 

[Sunil]

No No, u misunderstood me. OK, 4197 may touch tomorrow, but from hourly DT lines there are 6-7 hours to cross the first DT, and then .... (I have not counted yet) bars to cross second DT. I could not post the chart due to imageshack problem. Now there is a possibility, nifty goes up for some hours and then come back again to touch 4197 for double bottom and again for tripple bottom. As we have noticed that the fut closed at premium (not discount), there is no panic selling. If there is no panic sell, nifty may not start move upward. As explained, hourly chart also says that.

That is the reason, why I am asking u this question. I think I am now clear to u.

Da, that's what I have mentioned...
just look at recent good lows from where good 100/200 pts rally had begun... all were nearly "V" shaped like 3800, 4160, 4250 and i hope 4200 (today)... there was panic selling today, but it did not last much coz we had already fell 200 pts from 4400 in one direction - just look at RSI. And we had already discussed about this 4220-4200 strong support zone. Infact, if you get 4200 at open, enter long - one small chowkidaar is at 4170-80 range.
(but now SGX nifty is already at 4280)
Expiry days are always mirage; that's why i kept an eye on both Aug & sept futs' discount/premium...
Before the fall started, AUG was in premium, Sept was in 10/15 discount...when fall worsened, both were in BIG discount...
AT/NEAR 4200, SEPT FUT's DISCOUNT KEPT REDUCING...that's when I entered long. At end, it was at premium.

Let's see what tomorrow has for us...a clap or a slap for the movie

PS: Glad to know that even you have experienced abt deficiencies in SPOT levels, as discussed in part 1

 

[pakatil]

Consecutive gainful months for Nifty was in Sept/Oct 2007. It has to close above 4331.60 tomorrow, to repeat the act. Will it ?

Cheers

 

[Czar]

No da I would not expect 4197 exact , I have seen TL's respected but to the dot, there benefit goes to sunil's theory, also your 4197 figure tallies with my TL test shown below, though may I ask your reasoning for 4197 ? See below spot chart (previously I had posted NF only), you see on 26 aug it overshot it a bit:

PS: regarding imageshack, i think you use firefox ? me too having prob, but if i use IE then ok...

 

[Sunil]

here's the controversial jan 08 high TL SUPPORT which came into picture even today. It's not on log-adusted scale.
I guess, after 1 or 2 more attempts, this TL won't be able to withstand.