Nifty Futures Trading Part 2 (Positional)

[xtalk]

In Business Standard wkly tech analysis its written that "The index (nifty) is very close to its 138 per cent retracement level at 2,500, below which the 150 per cent retracement point is at 2,190 and 162 per cent retracement is at 1,875." Is it correct?

I can't see that in MS. What could be the start point and end point that BS has used? I'm trying btwn 920 and 6357 (Spot).

 

[pkamalesh]

Dev i was referin to satyam....u must have seen alex's reply..

 

[AW10]

In Business Standard wkly tech analysis its written that "The index (nifty) is very close to its 138 per cent retracement level at 2,500, below which the 150 per cent retracement point is at 2,190 and 162 per cent retracement is at 1,875." Is it correct?

I can't see that in MS. What could be the start point and end point that BS has used? I'm trying btwn 920 and 6357 (Spot).

I think, their analyst has used 3554 (3/mar/07) low as the starting point for wave calculation. I am not sure if they have used close price or real high/low for the base wave.IMO, what u are doing is correct. Bullish wave started at 920 (mar/04) and that shd be used to calculate the retracement.

What I found surprising that BS calling the value of 100%+ as wave retracement. As per my understanding, Fib Retracements are the values below 100 (e.g 38%/50/62). And values beyond 100 (e.g 1.62/2.62/4.62 ) are Fib Extensions. . not retracement.

Anyway, better to depend to our own analysis and form consistent opinion about the mkt.

Happy Trading.

 

[pkamalesh]

In Business Standard wkly tech analysis its written that "The index (nifty) is very close to its 138 per cent retracement level at 2,500, below which the 150 per cent retracement point is at 2,190 and 162 per cent retracement is at 1,875." Is it correct?

I can't see that in MS. What could be the start point and end point that BS has used? I'm trying btwn 920 and 6357 (Spot).

Hey xtalk take the jan 2008 highs and take the retracements...ul get it.....i was workin on that since morning too...

 

[devangan123]

Dev i was referin to satyam....u must have seen alex's reply..

Dear why mine and your chart is having so much difference for same scrip

 

[pkamalesh]

Dear why mine and your chart is having so much difference for same scrip

Dev i wasnt refering to satyam comp...i was refering to satyamsit.......

 

[devangan123]

Dev i wasnt refering to satyam comp...i was refering to satyamsit.......

Oh my tube light did not clicked even after 2 replies of your's and alex , guess it requires some replacement

 

[pkamalesh]

Oh my tube light did not clicked even after 2 replies of your's and alex , guess it requires some replacement

hahahahaha.....No prob dev....can understand...its diwali time...

 

[xtalk]

OK, are going +10% or -10% tomorrow? These days I'm so used to seeing double digit in index.

 

[pkamalesh]

Donno where we r goin tomorrow but can use the support and resistance from the trendlines....