Nifty Futures Trading Part 2 (Positional)

[Czar]

Ashish read above posts... theories may differ but conclusion is similar

 

[parttimetrader]

Thanks Czar. While I am comfortable holding my short position, it is not significantly sized. I want to really put my chips in on the next big move. I also have to admit that I am very hesitant when trading long positions, just from experience, so I usually scale my position size on short positions. I want to understand/evaluate the possibility of a move back to 4220, and commit to a large position. Sorry if this has already been addressed in some form earlier, but technically, what needs to happen for us to see 4220 (or 4197 for that matter)?

 

[Czar]

Well as per me from the bottom y'day 4209 till today is grey area yet as we have not had any decent pullback after making a new bottom y'day, but below 4280/90 I would start cutting long & planning shorts... This is purely my opinion.

 

[Sunil]

Ashish read above posts... theories may differ but conclusion is similar

but czar, u have perfectly concluded (as told to renu in part1):
the opening/first 2 hours/today's HOD+LOD hold the key.

 

[rishig38]

Satya, can you post your charts with your views/recommendations?

 

[mitasatyajit]

Satya, can you post your charts with your views/recommendations?

http://www.traderji.com/derivatives/23573-nifty-futures-trading-part-2-positional-34.html#post211398

posted

 

[orderflow13]

On lookin at weekly chart,i cant help but thought about 1-2-3 formation,its simple version of elliot wave pattern,when we cut th noise in Elliot wave we get a 1-2-3- pattern, and pattern holds until it reverse,and break ,the top point previously made,as in above chart, line 1 top is aprx. 5200( that hold and line went in to line 2), line 2 top is 4635, and now seems like making line 3,time will decide, pattern will hold until;l it breaks 4635(+-15).and in ta after 200ema, 50 ema is very important,so 4635 level seems decider level.now leading indicators,every other indicator is showing bullish to neutral signs,if adx hold and turnin upwards & + di crosses - di then only before hand we can say 123 pattern not going to last, and market will break 4635.till then i will watch rsi trend line,the day it broke i will short with target 4220 . obviously its my opinion, i am eager to see what you guys thinking and what your chart tools saying?

 

[orderflow13]

 

[Czar]

ofcourse RSI shows monday will retest the rsi down TL... but it got a bullish break... so monday downside will decide the future course

 

[Sunil]

but czar, u have perfectly concluded (as told to renu in part1):
the opening/first 2 hours/today's HOD+LOD hold the key.

well, at open, chowkidaar spot 4315 support is holding as of now...
pivotal values Spot 4330 / Fut 4345