Nifty Futures Trading

[uasish]

Still 3224.65 is alluding ,let us see.

 

[rajaram.dilipkumar]

i had entered long initially at open with more TBQs....
but when i saw 1 min RSI nearing 80, i booked out in longs...at 3200...

it did not stop there, and even crossed 3210...
Da's figure tallied with 3216 possible resis.... i shorted there, with RSi still 75-80

something similar entared 3300 call @ 95 and exited @ 103 ....

 

[Sunil]

in this fight of RSIs, i have observed that RSI of larger TF has upperhand overall...
1min RSI may be 70+
but 5min RSI is around 30-35....
i don't have fresh hourly figure... but i guess, it would also be around 30-35...
(Please provide me now & at 11:00, if u have)

let's see if this slow & steady UT lasts....

 

[uasish]

This devil 3224.65 (still now High = 3222.70 ) had to exit @ 3214

 

[kumark]

Hi

i hold one PUT 3300 bought @ 177...shall i close position Now..

Thanks & Regards

Kumar

something similar entared 3300 call @ 95 and exited @ 103 ....

 

[Sunil]

hourly & daily RSI may stay over-bought or over-sold for many hours & days respectively... without the needed opposite direction movement....

somedays, even 5 min RSI gives the required movement after some minutes' delay.... in such bearish days, one will have to rely on +50 or +60 RSIs in 5min to know when to "sell on rise"... but ignore sub30 levels....

but 1min RSI.... TABADTOP (mumbai language , meaning immediate) RESULT...
(just select your level by looking "left")

 

[Sunil]

H&S neck 3182...!!!???

 

[rajaram.dilipkumar]

i dont want to be right on this but still i think only on the day we hit circuit down will we find a temporary bottom ...
sunil be careful friend with RSI it hides more than what it reveals and in a trending market can be quite handy but we expect an indicator to work in all conditions.Attimes even in trending markets it gives too many wrong signals.

 

[uasish]

3185.00 is now deciding.

 

[Sunil]

H&S neck 3182...!!!???

if H&S is "proper", textbook target = 3142


DOES NOT SEEM PROPER: H&S is "thakur" of sholay