Nifty Futures Trading

[uasish]

Above 2977 now still so far ok,my stop even if Hit then also would be in Profit.

 

[uasish]

While reading VSA ,they say 'Smart Money' buys in Down bars.
Actually could not relate it becoz we are not smart money but this much can relate & understand that the initial Price upsurge in extreme down situation is ALWAYS fuelled by Short coverings only.
A wrong notion that Bulls start a Rally.

 

[rajaram.dilipkumar]

Sunil,

I was trying to draw attention that the more compelling sentiment of Short covering starts the mini upsurge firstly than Buying.At Chennai almost spent a night debating this with Raja.

Asish

ya cant forget that night ....... both of us didnt sleep but did whatever we can in 24 hrs ..... Next time expecting a more relaxed schedule from you!

 

[Sunil]

yup yup yup....
big gap downs & new lows.... in Oversold conditions
more TBQs...
HH HL attempt so far... with trail SL 64...

perfect recipe for dead bull (i mean, cat) bounce

2964 becomes crucial now...
sort of dbl bottom...

if NF falls NOW & breaks 2964, it would complete sort of H&S pattern with neck 64... (though right shoulder is higher than left)...

kept 64 as SAR

 

[Sunil]

another 15 mins, and if ranged, then we may have an inside bar in 60

though it looks yummier only on downside break

 

[uasish]

Enhanced stop to 2969.95

 

[Sunil]

bears in inflation no. too...

now at 11.07% vs 11.44%

)

 

[uasish]

Stop Profit Hit.
Logging off for 1.30 Hrs.

 

[Sunil]

came down just in time... hoping for an inside bar... 5more mins

 

[Sunil]

inside bar confirmed in 60...

above 3006, target 1 = 3010 (what a joke, sounding like bose now)
below 2966, target 1 = 2930... (this is yummier)

note: these are text book targets