Nifty Futures Trading Part 2 (Positional)

[columbus]

daraa rahe ho sir

Not at all !!! The question of 'dar' does not exist as long as you follow
the trend.

 

[pkamalesh]

Tried drawing the line that columbus sir suggested...and amazingly yesterdays's low coincided with the support...should have drawn this line before( we would have been rich by more than 100 points), anyways below yesterdays close is the danger zone which might take us to the oct lows...on the upper side if we manage to close above the black TL 3200 in sight..

 

[mahesh2007]

OK, couldn't check the market whole day...too busy with other stuff...

just wanna tell that last night S&P 500 broke long term 30 year EMA (786). 786 is holy number, for some religions - both for Christian & Islam, i guess. Also, broke 100% fib line (i.e. low of last bear mkt). I'll post a monthly chart of S&P 500 later today.

Everybody talking about BIG relief rally about to start but I wonder if any bank is solvent in USA. Can we name one or two? Last night somebody joked that Starbucks may also become a bank if they ask for bailout

As far as traders are concerned 786 is a holy number because it appears in the square root of .618 which happens to be a Fibonacci number.

 

[orderflow13]

As far as traders are concerned 786 is a holy number because it appears in the square root of .618 which happens to be a Fibonacci number.

Interesting, really unaware of this before.
i put it in calculator n its 0.78612976028134184865412471103745
Thanks Mahesh for this wonderful piece of information.

 

[xtalk]

HDFC could crack more, made a lower low since October!! Holding shorts at 1647. It'll impact Nifty as well.

OK, my HDFC targets achieved, covered all shorts @ 1255.

(double post)

Here is my NF projection next week and there after. I have covered all shorts at 2519. No NF position.

Thanks.

PS. Found something in S&P 500, will post soon.

 

[xtalk]

As far as traders are concerned 786 is a holy number because it appears in the square root of .618 which happens to be a Fibonacci number.

Yes, mahesh I also found that. 786 is also very important number in math as well.

thanks bro.

 

[pkamalesh]

The last time we fell for 7 days in september and with a double top(kind of formation) we had retraced upto 61.8% and then we had a sharper downtrend.....In the present case if we had to test the 61.8% then we could test 2960..thats why every one is houling about 2900 being a strong resistance...but depends on what the others see....and then we will know when the shorts are being banging and calls being written...

 

[praveen taneja]

Kammy sir repeating same question which i asked alex sir that how to know that call or put writing is going on at certain level
pls write at ur comfort but with max explain n less technical words
thnx in advance

 

[pkamalesh]

Kammy sir repeating same question which i asked alex sir that how to know that call or put writing is going on at certain level
pls write at ur comfort but with max explain n less technical words
thnx in advance

Dear praveen..There is no way to exactly find out that calls or puts are being written....from what i understand..we first see the open interest....when there is a huge open interest build up when nifty is moving up that means puts are being written..the same way around..when there is huge OI build up when nifty is falling means that calls are being written and puts are bought..this is how i see it...

 

[praveen taneja]

Dear praveen..There is no way to exactly find out that calls or puts are being written....from what i understand..we first see the open interest....when there is a huge open interest build up when nifty is moving up that means puts are being written..the same way around..when there is huge OI build up when nifty is falling means that calls are being written and puts are bought..this is how i see it...

Ok but to know which OI of call or put is going up should i hav to note OI in the morn of all options
or there is any simple way