Nifty Futures Trading Part 2 (Positional)

[senty]

Your question will be answered after receipt of my EOD data.

Regards.

Satya,

Me too waiting for your reply...

 

[mitasatyajit]

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Nifty spot Monthly.

1. Price till now under DT

2. To be bullish Aug closing should be above 4732, if so Sept supp or most probable low will be 4732 or 4770.

3. To remain bearish this Aug closing should be below 4448, if so Sept res or probable high 4448 (that is why I pointed this level on hourly chart).

4. 7 trading days are left in Aug'08. Within this 7 days nifty is to move at least 350 points up.

 

[mitasatyajit]

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1. Price is under DT2

2. Price just touched DT1 (high crossed today - close touched). Confusion

3. Next resistance at DT2 if tomorrow can cross DT1

 

[mitasatyajit]

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Have a closer look on daily chart :

1. To remain bullish tomorrow support / most probable low should be 4414.65.

2. Price closed 1.10 point (negligible) up.

3. To be bearish tomorrow price has to break this support.

4. In hourly chart we found res at 4430 - 31

Confusion -- confusion so can't go long. Can short at 4430 and a stop loss at 4435. If market gaps up, I could have not to take loss due to Stop loss. Otherwise I am ready to take 5 - 15 point loss.


Regards.

 

[mitasatyajit]

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Hourly chart : Figure says everything.


Regards

 

[sankar17f]

Thanks mitasatyajit for the detailed analysis. keep it up

 

[mitasatyajit]

Czar : No godbod, your trendline is DT1 in my daily, and make ur chart logarithmic scale, two will be same.

 

[Czar]

But Dada mine is picture perfect with a perfect TL test yesterday, what reason should I believe yours ? I really gotta read your thread about chart logarithmic scale, but seriously, right now it shows bullishness with a resistance at 4465 NF from a different hourly TL, if we cross that that actual bullishness should resume... & I have been using TL's without Log scale having no trouble till now ?

 

[rishig38]

Czar : No godbod, your trendline is DT1 in my daily, and make ur chart logarithmic scale, two will be same.

satya, charts are fine..but what about other indicators like MACD, RSI, ....??

 

[mitasatyajit]

But Dada mine is picture perfect with a perfect TL test yesterday, what reason should I believe yours ? I really gotta read your thread about chart logarithmic scale, but seriously, right now it shows bullishness with a resistance at 4465 NF from a different hourly TL, if we cross that that actual bullishness should resume... & I have been using TL's without Log scale having no trouble till now ?

In my chart NF tomorrows resistance shows at 4462.80.