Nifty Futures Trading Part 2 (Positional)

[mitasatyajit]

 

[Czar]

5 billion $ sells & sebi gets scared, so easy

All hourly biggies heading for bullish engulfing...

 

[devangan123]

The end is near if we hold todays bottom for 2 hours... right now hourly pull back on, next hour will reveal the truth

Did we really bottomed out ???

May be Just on Intraday

 

[pkamalesh]

This is my turnover upto now for today....Alex do u think i did the rt trade??

Security Buy Sell Buy price Sell price BPL

NIFTY OI CE
2008-10-29 3800 600 -600 48.33 55.43 4260

NIFTY OI PE
2008-10-29 3400 450 -450 147.56 162 6495

 

[Sunil]

On examining the DAILY chart of 2008, I can see 2 distinct downlegs... 3rd one is currently on.

1st leg: from 6350 to 4450 ie down 30% (1900 points)

2nd leg: from 5300 to 3800 ie down 28% (1500 points)

so, stretching 3rd leg from 4650, avg 29% comes to around 3300 (1350 points)
BTW, 3300 is actually in middle of 3600 & 3000)


let's see the pullback legs:
from 4450 to 5300 - 19%, 850 points

from 3800 to 4650 - 22%, 850 points

so, from 3300, 20% pullback comes to around 4000

BTW, if 4th downleg happens, then from 4000, 29% = around 2850


voila, 3800 -> 3600 -> (3800 or 3900) -> 3300 -> 4000 -> (3600) -> 3000

program for next two quarters

target nearly achieved
(hopefully, some relief now..... closing is important)

sun outage panauti on bulls ends today

 

[pkamalesh]

alex just look at nifty...as expected after sun outage it crossed 3380 and see now 100 points up....

 

[Czar]

Ya Sunil do you know during every sunoutage period market has always fallen, the bulls need the Sun constantly to survive I guess

 

[segul]

hi,

If we strongly hold on to these levels in coming days,we might see weekly bars making hh and hl after a few weeks from now.
chart showing time fibo,50% time comes after 2 more weeks.

regards.

 

[Sunil]

Ya Sunil do you know during every sunoutage period market has always fallen, the bulls need the Sun constantly to survive I guess

honestly, i used to enjoy sun outage periods for my intraday trades.... u might have seen the reason in part 1...
today also, i shorted just at re-open but covered right in time, seeing 4350 FUT nearing....

and as per 5min, 3450 was the trailing stop for shorts... my stop buy got triggered there... exited at 3490

 

[Sunil]

right segul...

goes with this too
http://2.bp.blogspot.com/_w2oUndqfeWc/SOvLzWRL9ZI/AAAAAAAADJc/idxJi2y3PbM/s1600-h/Nifty+071008.png