Nifty Futures Trading Part 2 (Positional)

[orderflow13]

Cover your shorts or ELSE ..........

first i thought its one liner then saw its some image/smiley which by odd reasons not displaying.

 

[rishig38]

Czar : how do u get the latest world market data ? Will u please recommend a site ?

ww w. bloomberg . c o m

 

[rishig38]

Are u tired ? OK, from 3470 - 3476 band we will take an interval. After interval the story will be more pathetic.

Satya, I agree that we may fall further...but it seems that we are in the capitulation period and we might be really close to the bottom...it could be somewhere between 3000-3600....but either way, if one thinks that once reach that bottom figure and then we will automatically get to 5000 or 6000 levels is a fool...the markets would become range bound between 3000-4600 level and would remain close to the lower level for quite some time before finally breaking out on the upside for good...

 

[orderflow13]

apart from the weekly h and s .... this is where we stand on the monthly charts clearly it is make or break this month with 22 days to go . One more thing 5 % panic moves in one direction doesnt sustain for long and we can easily expect a swift move in the opposite direction . There is a theory floating in the media that market doesnt have liquidity and i dont subscribe to it , as we require the same margin to go short or long in the market . Its all about patterns and pivots , if we get a favourable set-up in the charts suddenly the market will be flush with liquidity and the media will say FIIs pumped in some x billion dollars and MFs are net buyers. We still live in a country where 50% of the money is outside the banking system and this country cannot suffer a liquidity crisis though some individual banks can.
I dont know where i read it but completely agree with what i read that "a fresh bull market starts only when people start questioning even the existence of stock market" and we are far away from that day probably some time next year when it hits the next pivot at 2595 . Again i am not expecting a bull market next year as this consolidation could take years before we start trending back up.
today bought one lot 3800 call @ 99 with s/l at 3550 due to 50% retrace placed around 3550-3650 , key pivot level around 3560 and monthly TL support .

RD
Nice to point out fib levels..i am expecting 3000 support, can u draw a fib line by moving base line bit up to next pivt low ( which is the 3rd wave of elliot ) and roughly 50% of that 3rd wave is 3200, and time wise i am expecting that level very soon, if u look back last bear market this one is new in context of time,seems like things are fast forwarding.Few thinkings its cuz of the way we trade now ( electronic xchanges and internet) if we compressed the conventional wisdom of time our one day = early 2000's 3 days.
I am expecting the action ( hitting the bottom and bottoming up )very sooner than later.

 

[orderflow13]

Where is parttimetrader?( Asish)
I wil like to know the liquidity condition,the need of CRR cut and effect on money market.He has quite command on money market.
Reply when you see it in ur free time.

 

[mitasatyajit]

RD
Nice to point out fib levels..i am expecting 3000 support, can u draw a fib line by moving base line bit up to next pivt low ( which is the 3rd wave of elliot ) and roughly 50% of that 3rd wave is 3200, and time wise i am expecting that level very soon, if u look back last bear market this one is new in context of time,seems like things are fast forwarding.Few thinkings its cuz of the way we trade now ( electronic xchanges and internet) if we compressed the conventional wisdom of time our one day = early 2000's 3 days.
I am expecting the action ( hitting the bottom and bottoming up )very sooner than later.

Will it do ur purpose, or u want something different ?

 

[rishig38]

dow down 680 points...I think tomorrow we could form a bottom.....

 

[mitasatyajit]

dow down 680 points...I think tomorrow we could form a bottom.....

All world indexes including India wants to start again from Zero. So they are tending to zero. We the traderji members will buy stocks @ 10 paisa / 20 paisa. e.g. Buy reliance @ 10 paisa stop loss at 9 paisa.

Oh what a dream ?

 

[Czar]

Satda: yeah Alex said bloomberg is right, you get all futures & news there , I always view: http://www.reuters.com/finance/markets ... & for indexes I have installed yah00 widgets - Widget name fidelity, you feed in all indexes & stocks you want & it keeps auto refreshing... very useful & stays on your desktop..

PS: hmm... dont wake me up... 10 paise RIL

 

[orderflow13]

Will it do ur purpose, or u want something different ?

happy thank you sat da , 3000 is 61% retrace level, on this level my all math revolving.Elliot waves and fib levels closely related.Theory says if prices break 61 % of previous up wave ( here is 3rd wave ) then pattern fails.So if 3000 breaking then multi long elliot pattern get disturbed( by this we in 4 th wave now, and after completion of 4th wave, a new top which will be final 5th wave) so battle field is near, break of 3000 or hold of 3000 we will see soon.