Nifty Futures Trading

[Sunil]

as per the combi of the 3 methods in the new thread, one should be out of longs as of now, and be neutral & wait-n-watch.

RSI & other indicators demanded cooling of nifty upmoves, and it got that...
now, tomorrow's further price action is to be awaited

Whether Yesterday was a mere profit-booking day or start of a new short-term downtrend, will be answered by today's price movement & closing...

We had an engulfing / outside day yesterday..
So, as per textbook, yesterday's low & high are crucial break points for directional momentum...


Chances of upmove start above 2960 & mainly above 2978...
Key resistance level/pivot high to break on upside is 3008 which can then target 3038-48 (this level would not be easy to break today)

Yesterday low is also an RSR band: 2940
Break below can target 2900-2893, with next mini-RSR at 2880-77

Crucial support at 2850-43

 

[Sunil]

SPOT broke its yesterday's low...
SPOT 2977 is not only the pivot high in 5min chart, but also THE lower high and trailing stop for intraday swing shorts

same thing will apply to FUT 2980 when yest low 2936 breaks

 

[Sunil]

same logic:
giving respect to a level from where big reversal took place...

yest LOD 2936 resulted in sharp reversal move till 2970 today near open

 

[knarendra]

Dont buy any nifty stocks. Nifty under selling pr.
Now , NIFTY -2960
T1-2920

 

[Sunil]

same logic:
giving respect to a level from where big reversal took place...

yest LOD 2936 resulted in sharp reversal move till 2970 today near open

just wanted to clarify:
"big" is from a scapler's point of view...
no hard-n-fast rule, but should :
1. result in atleast 25points reversal move
2. should result in a sexy pivot high/low in 1min chart (as the case may be) OR should appear as "V" or "A" (reverse of V) in tick chart

 

[Sunil]

just wanted to clarify:
"big" is from a scapler's point of view...
no hard-n-fast rule, but should :
1. result in atleast 25points reversal move
2. should result in a sexy pivot high/low in 1min chart (as the case may be) OR should appear as "V" or "A" (reverse of V) in tick chart

now 2379/80 is an eligible level for such reversal scalping opportunity

 

[Sunil]

just wanted to clarify:
"big" is from a scapler's point of view...
no hard-n-fast rule, but should :
1. result in atleast 25points reversal move
2. should result in a sexy pivot high/low in 1min chart (as the case may be) OR should appear as "V" or "A" (reverse of V) in tick chart

all this will apply ONLY ON ITS FIRST RETEST, and not later...

(as mentioned yesterday too)...

if later on, in its second or "nth" retest, it breaks, it becomes my mini-chokidaar level for me for intraday trading (RSR level) and should be used accordingly as per 1-2-3 setup

 

[Sunil]

inflation @ 6.84% !!!
causing spikes

 

[myvineet]

Inflation at 6.84%

 

[knarendra]

Inflation at 6.84%

But, Nifty under selling pr.