Nifty Futures Trading

[uasish]

With 15 points decline from 4544 in last 18 mins any RSI of 9 period will show 40 ,so can we Short on that now,plz go through the basic Maths behind RSI's construction we can then understand the Folly.

 

[uasish]

RSI concept can be used ,it is basically a Momentum Indicator.

 

[uasish]

But in some situation like a Rally these type indicators can mis-guide us.

 

[uasish]

My stop profit Hit.

 

[new2sm]

R3 4515 is acting now as support.

 

[learn2trade08]

trailing at 4535 based on KISS...thanks satyajit'sir!!!

 

[Sunil]

The Pivots / the ob-os / the cue from other indices ,all these will work EXCEPT in Rally / b/o / Impulse ,hence we have to learn that also in Intraday.

The Wealth is created by Identifying the same in Higher TF (as Saint does),we can only make Money.

i feel, asish da has ended the debate by the above summary...

I, myself, use all the above-mentioned cues successfully in my intraday trades, but on days such as today, when we have broken out of multi-days ranged trades, these HAVE to be ignored...

infact, isn't it amazing that the move from 4400 to 4500 today would seem to suggest that no resistance ever existed in this band.. the 100 point band was just gobbled up even before you could think about whys & hows...

even da's FUT 4455 was tossed as if to prove a point by the bulls

 

[uasish]

For scalping Short/Long any day any time we can earn few points,even in a strong trend an opposite position can give few points but when to scalp & when to trade towards trend is we have to decide,becoz there we have to weigh the probability & profit percentage when trading in a particular direction ;whether it has more or Less chance.
In those decision making status the Momentum Indicator may some time mis-guide us,keeping that in mind one can always use anything to trade.

 

[Sunil]

R3 4515 is acting now as support.

just to avoid confusion, can u clarify these are spot or Fut values, please...

i know you, but learn2trade does not...

 

[uasish]

Logging off for 2 Hrs.