Nifty Futures Trading Part 2 (Positional)

[pkamalesh]

The two major trends appear in the chart...Now..interestingly leaving apart the Dow and all the markets irrespective of how they behave..if the trend in between the red lines has to be true( they appear perfectly parallel) we shouldnt be closing positive tomorrow...If at all this trend is broken we might go up along the green line and enter the major trend in the blue lines...

Thankfully worked today....holding shorts for tomorrow....BTW shorted at open....

 

[the tape]

TRend is friend but dont get married to it it keeps changing

Well said... this is the key ability that a lot of us lack in, the ability to adjust with the changing market conditions. we keep ourselves stuck in our preplanned stuff or biases

 

[rishig38]

Only two days to go in expiry...up trend still intact...crucial levels for tomorrow are as following:

If short, support is there at 2628 Spot and 2503 Spot. and if long, resistance is there at 2773 Spot...BO on either side should give huge returns although longs would soon run into multiple resistances....so, lets get a gap down and get to 2200 in two days

 

[columbus]

Only two days to go in expiry...up trend still intact...crucial levels for tomorrow are as following:

If short, support is there at 2628 Spot and 2503 Spot. and if long, resistance is there at 2773 Spot...BO on either side should give huge returns although longs would soon run into multiple resistances....so, lets get a gap down and get to 2200 in two days

The rally (if at all, it can be called so..) lasted for a day ,in true sense.Most of the DMAs are diverging .

 

[pkamalesh]

Only two days to go in expiry...up trend still intact...crucial levels for tomorrow are as following:

If short, support is there at 2628 Spot and 2503 Spot. and if long, resistance is there at 2773 Spot...BO on either side should give huge returns although longs would soon run into multiple resistances....so, lets get a gap down and get to 2200 in two days

hehehe rishi..2200 in 2 days?????kya yaaar...over ambitious....anyways would love if it comes true...

 

[rishig38]

hehehe rishi..2200 in 2 days?????kya yaaar...over ambitious....anyways would love if it comes true...

PK..it is certainly achievable...we are currently at 2650..so to get to 2200, we need 450 points only...2 days of 200 points downtrend...and voila....

 

[columbus]

Thankfully worked today....holding shorts for tomorrow....BTW shorted at open....

Really you are BOLD enough to have SHORTED on open.

 

[praveen taneja]

Not his fault sir young college going boy god bless him

 

[columbus]

PK..it is certainly achievable...we are currently at 2650..so to get to 2200, we need 450 points only...2 days of 200 points downtrend...and voila....

rish,

On one hand you say that "...... UPTREND to continue" on other you say 2200
is achievable. Analyze market with your resources ,either right or wrong,
do not try to become a CNBC analyst.

 

[rishig38]

rish,

On one hand you say that "...... UPTREND to continue" on other you say 2200
is achievable. Analyze market with your resources ,either right or wrong,
do not try to become a CNBC analyst.

Columbus, I am not sure if you read my post clearly...I said that "UPTREND IS STILL INTACT" and never said "UPTREND TO CONTINUE" and I posted resistance and support levels along with my chart..

and, then I said if any of these levels break, then we would get good returns...but BO on upside is limited as there are multiple resistances on the upside...

So again, I am not trying to be a CNBC analyst but just trying to interpret for others what the charts are showing me....