Nifty Futures Trading

[mitasatyajit]

ohh thnx n sorry to say u r late in telling i exited from long at 4525 n bought puts so put bought at higher rate but any way thnx god bless u

U r welcome, but till now 4628 resistance has not tested and nifty is till now in UT. Attached chart.

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So untill nifty breaks UTs, double top probability is there.

Regards

 

[mitasatyajit]

ohh thnx n sorry to say u r late in telling i exited from long at 4525 n bought puts so put bought at higher rate but any way thnx god bless u

Am I late to say u? Post #9319 was posted on the end of July'08.

 

[rajaram.dilipkumar]

One question Rajaram, why do you draw the top trendline from 26.06.08 why not like the P1 & P2 lines:

Czar, valid question ....... the more number of times prices touch the tl the more valid it gets.. in the chart i posted the upper line and the lower line was touched 3 times and 4 times each repectively(i have taken the hourly close values) ......probably this chart explains it better.

 

[mitasatyajit]

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How is it possible ???

 

[milind]

Czar, valid question ....... the more number of times prices touch the tl the more valid it gets.. in the chart i posted the upper line and the lower line was touched 3 times and 4 times each repectively(i have taken the hourly close values) ......probably this chart explains it better.

Rajaram,

There were too many hourly bars covered in this pattern on your chart. So I look at the chart at daily time-frame - seems to me that the pivot high is not yet confirmed on daily chart. Need 1-2 down days.

-- Milind

 

[rajaram.dilipkumar]

milind, it is a hourly chart and yes it has to break the lower tl to confirm a bearish wedge......but i dont take confirmation from daily charts as i trade nifty based on hourly ......

 

[uasish]

Nifty Fut 10 mins with 'LOC' & 'Lakshman Rekha' for your perusal.

 

[deb99891]

Nifty Fut 10 mins with 'LOC' & 'Lakshman Rekha' for your perusal.

dada
the lower band line seemed 23-30 level
am i right?
and is there ne thing like stop n reverse here bellow this line?
as i learnt "exact stop loss" concept from u only
it should be like that.
true regards
deb

 

[Sunil]

KEY SPOT LEVELS FOR TODAY'S TRADING
A DAY AFTER SHOOTING STAR APPEARS (on EOD chart)


SUPPORTS:

4515 - This is the Bearish Pivot for today. Bears will have an upperhand if spot sustains below this level.

4485-4475 - S1 area for today. May or may not hold out in this profit-booking drive; more weakness if this breaks

4435 - A known RSR (resistance-support-resistance) level. Was pain for bulls on monday & half-tuesday. Should be a balm for today. An intraday long can be attempted here wil SL below 4425. Also S2 for today. Very negative global cues can break down this level.

4400-4385 are last hopes for bulls for short term.

RESISTANCES:

4550 - the bullish pivot for today. spot needs to sustain above this level for some hope for bulls. Subjectively, till this level breaks, sell on rise is advisable.

4570 - a reasonable SL for shorts

4590 - 4590 is R2 for today. Above 4590, spot has to negotiate 4620-30, before giving a shot at 4650 (R2)

 

[uasish]

Dev,

To trade these Lines (the exact value is in the upper task bar),see the periodicity ,here it is 10 mins,wait for few bars , see whether it is breached from downside or upside,if so how many times,these are levels when sentiment change will happen,now when we get a directional bias (watching few bars) we initiate trade for few more bars towards the sentiment change,keeping Stop above or below these lines,often that gives a minor rally.
As it is my subjective code hence the success is absolutely uncertain,hence trade on your own peril.

Asish