Nifty Futures Trading

[uasish]

Though 3314 was broken in the 1st down move then in it's uprise it got resisted at 3314 ,this is where fresh shorts where to be added as per our discussions for last 2-3 days,once a support or resistance is broken for first time price usually tries to come back to that level,where it is prudent to take fresh positions.

N.B. Incidentally our Intraday 3314 matches with Amitbee's EoD fig.

 

[Sunil]

Though 3314 was broken in the 1st down move then in it's uprise it got resisted at 3314 ,this is where fresh shorts where to be added as per our discussions for last 2-3 days,once a support or resistance is broken for first time price usually tries to come back to that level,where it is prudent to take fresh positions.

N.B. Incidentally our Intraday 3314 matches with Amitbee's EoD fig.

In my initial days, one AsHish sir used to call this as 1-2-3 method... very regular feature during intraday... i see this very frequently.... and very handy too; u know your entry & SL is very near
(wonder where is he nowadays.... last i think it was ,may or june, i read his posts)

 

[praveen taneja]

Sharp rise in TBQ does that indicate something or its a trap??????????????

 

[Czar]

bought 3291 stop 3280

 

[uasish]

Now can we see all the upward efforts are fizzling out below the earlier achvd. up price points.
Here we must look whther the low points are also below earlier low points the same LH / LL ,some times ,like what it is doing now,it tries to make a HL & also a HH (just to make in 1 min chart),WATCH VOL for information.

 

[uasish]

At 3303 - 3305 made two price points now trying to make the 3rd one,this if makes gives a spring type coiling fury,it if broken on upside can give 10-15 points.

 

[new2sm]

looks like an ascending trian. formation in progress.

 

[uasish]

See how easily from 3303-3305 gone to 3320,we can get our 15 points in less than 2 mins.

 

[uasish]

Now have you seen the high vol bar ,watch keenly what price does here.

 

[uasish]

We have a known resistance @ 3314 ,
A high volume bar,
HERE watch TBQ /TSQ ,where TBQ was 7.77 jumped to 8.10

Price from 3411 jumped to 3325.

We got underneath a known resistance plus a 2 top @ 3303-3305.