Nifty Futures Trading

[new2sm]

3044 now in picture

 

[Sunil]

There is another level after S=4 is it S-5 ??

u may chose to delete it...
i had made provisionf for it when we used to have those one-way downmoves

 

[new2sm]

Desparate attempts to take the mkts upwards but unable. I had shared my observations some days ago about various findings one of them was that other than in xtreme conditions, mkts seldomly break second support/resistance. We are seeing that again in action right now.

Edit: hmm last minute desperation took it touching my conventional +20 pts buffer. good sign. Carrying over my hedged positions for tommorow.

 

[Sunil]

Sunil..

Just gone through this and the explaination saya that wait for level to come down from H3 for shorts and from below of L3 to upside for longs. This is clear. But what wud be the significance of L1/l2 R1/R2 then besides Suport / Resistances..Cas we use them for entry/ exit as well?

Thanks
RG

Rakesh,
these camarilla pivots have been recently picked up by new2sm & myself, as we mostly trade by incorporating classical & camarilla pivot levels into our intraday trading. We are still experimenting with them. (depending on the previous day's range ie High-Low, classical & camarilla pivots can be put to use - today only R4 level of camarilla came into pic; it was supposed to be a buy at 2978 with stop below 2930)

As in case of classical pivot levels (where, for eg, after facing resistance at R2, nifty might go down till R1 - now R1 may act as temporary support for day; and when R1 too breaks down, the next "pivot" level comes into picture), camarilla levels can also be used as such.
The level 1 & 2 figures may be used as part profit-booking level or also to add on to positions - purely subjective & depends on the market condition & the importance of that particular nifty level itself
let's take today's example: as per classical pivot method, R1 = 2963 & 2950 level was providing good resistance in the previous trading session. After such strong resistance levels break, they normally become support levels thereafter. Thereafter, nifty not only held to this 2950 (LOD) but also went on to break R1 2963 in last hour. After that, even R2 was taken out eventually.
More about classical pivots here
So, give more screen-time experience to these "imaginary" pivot levels & try to combine them with chartical levels to increase their importance.

Don't take pivot levels as RIGID & 100% sure levels... I give 90% importance to chartical levels & 10% to these pivotal levels - they just provide a sense of direction/movement of market based on the movement in the previous trading session.

 

[columbus]

Rakesh,
these camarilla pivots have been recently picked up by new2sm & myself, as we mostly trade by incorporating classical & camarilla pivot levels into our intraday trading. We are still experimenting with them. (depending on the previous day's range ie High-Low, classical & camarilla pivots can be put to use - today only R4 level of camarilla came into pic; it was supposed to be a buy at 2978 with stop below 2930)

As in case of classical pivot levels (where, for eg, after facing resistance at R2, nifty might go down till R1 - now R1 may act as temporary support for day; and when R1 too breaks down, the next "pivot" level comes into picture), camarilla levels can also be used as such.
The level 1 & 2 figures may be used as part profit-booking level or also to add on to positions - purely subjective & depends on the market condition & the importance of that particular nifty level itself
let's take today's example: as per classical pivot method, R1 = 2963 & 2950 level was providing good resistance in the previous trading session. After such strong resistance levels break, they normally become support levels thereafter. Thereafter, nifty not only held to this 2950 (LOD) but also went on to break R1 2963 in last hour. After that, even R2 was taken out eventually.
More about classical pivots here
So, give more screen-time experience to these "imaginary" pivot levels & try to combine them with chartical levels to increase their importance.

Don't take pivot levels as RIGID & 100% sure levels... I give 90% importance to chartical levels & 10% to these pivotal levels - they just provide a sense of direction/movement of market based on the movement in the previous trading session.

Sunil,

Sometime in June/July ,I used to give Camarilla Levels on daily basis under the thread PIVOT ANALYSIS (http://www.traderji.com/technical-analysis/22281-pivot-analysis.html#post193527),later I discontinued it ,because ,many people are following nadodav's resistance & support levels and it will
clash with them.

I found CAMARILLA pivot is a bit REALISTIC when compared to other pivots like classical or woodie.Apart from the level close to pivot ,the difference between other levels are ~11 points and the extreme levels are different too.(r3~r4 or s3~s4).

 

[Sunil]

For the same set of values of 26/6/08 ,the range (Maximum-Minimum)for 30.6.08 worked out by other PIVOT methods to be as follows:

Camarilla pivot method: 130 points
Classical pivot method: 350 points
Woodie pivot method: 240points


I feel Camarilla method is more REALISTIC out of these 3 pivot methods.

Thanks Columbus for your inputs... may come handy in our experimentation stage. Glad to know we have one more company.

BTW, these are not actually clashing with Vinodji's levels - what he posts is meant for positional trading; wheras we are following them only for intraday trading - so, no clashing at all; infact we can combine them subjectively

 

[pakatil]

Dear Sunil,

Here are 2 sets of Values for 04/11/2008, from 2 different Camarilla formulas, I got from Web. I have been using H5 & L5, as Long/Short Breakout Targets.

Cheers

 

[columbus]

Thanks Columbus for your inputs... may come handy in our experimentation stage. Glad to know we have one more company.

BTW, these are not actually clashing with Vinodji's levels - what he posts is meant for positional trading; wheras we are following them only for intraday trading - so, no clashing at all; infact we can combine them subjectively

Sunil,
Many people at that time are following Nadodav's resistance and support levels any other resistance levels like R1,R2,R3,R4,S1,S2,S3,and S4
will add a bit to confusion because SavantGarde used to give his levels.

Incidentally CAMARILLA recommends to close you position for every 11 points
increase (in case of LONG) or every 11 point decrease (in case of SHORT),it is the difference between r1,r2,r3 levels.

Wishing you the best in your experiments.

 

[RakeshG]

The Excel sheet which Suni has provided is giving following levels for today:

R4 3123.27
R3 3092.64
R2 3082.42
R1 3072.21
Pivot 3026.87
S1 3051.79
S2 3041.58
S3 3031.37
S4 3000.73

Does traders use different formulas for CAM levels?
Sunil can you please cross check the values?

Thanks
RG

 

[RakeshG]

Sunil

Thanks for the response and the clarity. Your views are much appreciated and the trades entry/ exit messages which you post during the day also help a lot. Rock On!!!

Have a great trading day!

Cheers
RG