Nifty Futures Trading

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

60 min pivot high stands at 4590 now,can it break with conviction........for now the trade is a 5min uptrend trade within a 60min dntrend.

Previous bar on the 60min a failed breakdown bar......

Saint

 

[debdeeps]

Re: Time to Stick my Neck Out ,Nifty 7300

Europe market (DJ Stoxx 50) down by 92.57 points.

 

[aca_trader]

Re: Time to Stick my Neck Out ,Nifty 7300

hi asish, is these kind of patterns really works in day trading?

To be frank, in Technical Analysis everything works and everything does not work. There is a market conditionfor every kind of trading strategy and then there will come conditions where one will pay back a lot of earlier made gains to the market. Same is the case with these patterns, they work sometime; sometimes they do not.

 

[aca_trader]

Re: Time to Stick my Neck Out ,Nifty 7300

Both SPOT & Futures are developing patterns with divergence.
Underlying is showing a falling wedge while Futures is in the process of making a broadening traingle.
Will go long on Wedge Breakout in Underlying. Target will be 4580 in Futures.

Regards,
--Ashish

SPOT broke out of the wedge but could not clear the high of breakout bar. Long only above 4548 in SPOT.

 

[bbrahma]

Re: Time to Stick my Neck Out ,Nifty 7300

UK market down 3%

FTSE5484.8-146.90-2.61
DAX6209.13-242.77-3.76
CAC 404471.53-120.62-2.63

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

out at 4509

Saint

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

That falling wedge becoming more and more obvious

Saint

 

[biyasc]

Re: Time to Stick my Neck Out ,Nifty 7300

To be frank, in Technical Analysis everything works and everything does not work. There is a market conditionfor every kind of trading strategy and then there will come conditions where one will pay back a lot of earlier made gains to the market. Same is the case with these patterns, they work sometime; sometimes they do not.

thanks for the reply. i understand that any trading strategy may work sometimes & would;nt work time to time. so why one should buy some costly charting software & spend the whole day by looking in to the screen, when a daily chart provides the same conditions.

 

[bbrahma]

Re: Time to Stick my Neck Out ,Nifty 7300

Nifty 4400

 

[Saint]

Re: Time to Stick my Neck Out ,Nifty 7300

Saint

Any specific targets?

Sramu1

Usually tend to raise stop losses till hit........

Saint