Nifty Futures Trading Part 2 (Positional)

[satyamsit]

 

[pkamalesh]

satda want an advice fromm u...do i open a put position tomorrow morning or wait until afternoon...and i think its better to go for november series as the expiry is comin near..plzz advice

 

[satyamsit]

ohhhhhhhhhhhhhhhhhh... satda's suppot is 2970... then 3040 bindas....... its not only fun then .. its fun with trading.

 

[orderflow13]

satyam
i didnt get 2618 ? ( bottom of wave 1 major ? )

 

[satyamsit]

satyam
i didnt get 2618 ? ( bottom of wave 1 major ? )

Bhaiya... its not 2618.. its 2.618 ... as we wr multiplying it by 1.618 in a normal case... in this case 2.618 . bcoz by wave rule itsays one wave shud be and must be extended. and most of the time its wave 3.. though its not a rule... so extension can be 1.618 .. 2.618 .. 3.618 or 4.618 in extreme cases.

 

[orderflow13]

ohhhhhhhhhhhhhhhhhh... satda's suppot is 2970... then 3040 bindas....... its not only fun then .. its fun with trading.

its a serious possibility, all we need is take out 3200, with so much selling pressure its interesting to see whether we hold or not
btw .. do u hv dow or s &p chart ? seems like they are in major wave pattern..... and its alarming to see last 15 min fall in dow...

 

[mitasatyajit]

For the sake of learning, posting it.

 

[orderflow13]

Bhaiya... its not 2618.. its 2.618 ... as we wr multiplying it by 1.618 in a normal case... in this case 2.618 . bcoz by wave rule itsays one wave shud be and must be extended. and most of the time its wave 3.. though its not a rule... so extension can be 1.618 .. 2.618 .. 3.618 or 4.618 in extreme cases.

ohh sorry ... lol .. gotta check my eye sight ...
one thing pop up .... this extension thing ... is there any rule that says we multiply wave with fib no. ? ex. 1.618,2.618,3.618,5.618,8.168.. so on ?
some where written on that in elliot wave ?

 

[satyamsit]

its a serious possibility, all we need is take out 3200, with so much selling pressure its interesting to see whether we hold or not
btw .. do u hv dow or s &p chart ? seems like they are in major wave pattern..... and its alarming to see last 15 min fall in dow...

bhaiya i dont have it... will surely try to arrange that within tomm.

 

[mitasatyajit]

pkamalesh

Lo, I know the tickets will be sold in black. 3200 is a good support, u have to wait for this. There is a possibility of double bottom. At thhis moment (also there is a possibility of gap down) if u buy put, may not give good result if bounce takes place.