Nifty Futures Trading

[new2sm]

H&S formation in progress, bearish pattern.

where is h&s?

 

[vinod_chopra11]

wait n watch stoploss is 3082

 

[Sunil]

so, as per cam
we went long at 3017 with SAR below 2987

and now, we have booked out our longs & have gone short at 3079 with SAR at above 3109

 

[RakeshG]

Sunil

Sorry to bother you. I found the following levels:

R4 3107
R3 3076
R2 3066
R1 3055

S1 3035
S2 3025
S3 3015
S4 2984

Are you adding +2 into these as filters?

Thanks

 

[learn2trade08]

sunil,great initiative...
something new to learn for us....

Sunil

Sorry to bother you. I found the following levels:

R4 3107
R3 3076
R2 3066
R1 3055

S1 3035
S2 3025
S3 3015
S4 2984

Are you adding +2 into these as filters?

Thanks

 

[new2sm]

Rakesh, ur levels are just rounded off. thats it. otherwise they are fine.

 

[RakeshG]

Yar me did rounding to Rs 1 using Round(no,0) but diff is coming to be more than 2

 

[learn2trade08]

nifty so far...a probable wedge......i dont know
wait and watch situation for me till then...

 

[new2sm]

These are the precise levels
R4 3106.52
R3 3075.89
R2 3065.67
R1 3055.46
PP 3021.28
S1 3035.04
S2 3024.83
S3 3014.62
S4 2983.98

 

[Sunil]

Rakesh, just confirm these levels:
Nifty Fut (yest's levels)
Close=3048
Low=2954
High=3065

L2T, today cam levels were closeby coz of yest's base effect. So, i could think of taking a long position as stop was 30 points (obviously, with less than normal qty). But personally, i prefer to USE them for my normal intraday trades & market direction, rather than going by textbook fully.
3079 was a known chartical resistance - hence i took that trade, but 3017 was not - so, as mutually decided by me & new2sm, I took that long on its 2nd attempt.
Also, 3017 coincided with today's pivot 3022.
luckily, these 3017 & 3022 are being maintained since 10:30