Nifty Futures Trading

[TrendPlayer]

L2D: Thanks Bro

 

[Sunil]

(all FUT levels)
Initial upmove hope above 2893 with a confirmatory break of 2910 required.
This will meet resistance at 2935 & key one being 2954.
SPOT 2962 / FUT 2974, being the same HOD level of Wednesday & Friday, will be the SAR for positional shorts.

SPOT 2820-2800 is a good RSR zone, as highlighted here

 

[Sunil]

If, on Monday, Nifty closes in negative, then it will be the 5th consecutive day of negative closings...
Let's see if the over-sold status of hourly charts plus 2800-20 zone's good support, leads to some bounce.... (which MAY give opportunity to bears to short at higher levels of 2925+)

 

[columbus]

If, on Monday, Nifty closes in negative, then it will be the 5th consecutive day of negative closings...
Let's see if the over-sold status of hourly charts plus 2800-20 zone's good support, leads to some bounce.... (which MAY give opportunity to bears to short at higher levels of 2925+)

First time it broke the rule of gain after 5 consecutive losses ,last month between nov.11 to nov.20 when it lost for 7 days in row.

 

[Sunil]

First time it broke the rule of gain after 5 consecutive losses ,last month between nov.11 to nov.20 when it lost for 7 days in row.

yup, u r right...
BUT, that was the second instance of 2008...
the first instance happened during 15-22 Jan, 08

In all, there have been total 8 instances of 5 consecutive -ve closing days in 2008.
Out of which, in 6 instances, we had the 6th day as +ve close.

Regarding the November 2008 instance, I had already mentioned, after looking at 17th Nov's (4th day) Future's flat closing (just -0.4 points), that it is more probable of having an exception this time, as it had spoilt the "flow" / "setting"

(PS: if spot closes is red today, then it will be a 5th day of consecutive negative closings..
only hitch is that FUT - which closed, though in red, but by just 0.40 points...
let's see the EOD result)

Let's see if we can have the 9th instance tomorrow, to be followed by TUESDAY

 

[columbus]

yup, u r right...
BUT, that was the second instance of 2008...
the first instance happened during 15-22 Jan, 08

In all, there have been total 8 instances of 5 consecutive -ve closing days in 2008.
Out of which, in 6 instances, we had the 6th day as +ve close.

Regarding the November 2008 instance, I had already mentioned, after looking at 17th Nov's (4th day) Future's flat closing (just -0.4 points), that it is more probable of having an exception this time, as it had spoilt the "flow" / "setting"



Let's see if we can have the 9th instance tomorrow, to be followed by TUESDAY

Sunil,

Yeah ,your are correct.During Jan if fell 6 days consecutively.
Thanks for other stats.Perhaps falling 6 th time this time appear
to be remote ,as there are many Positive TRIGGERS like
Inflation is getting moderated ,IInd Stimulus package,many othoverer ,
but the overall trend is highly bearish.Let us see.

 

[Sunil]

recorded high of FUT is 2950!!!

 

[Sunil]

SPOT 2820-2800 is a good RSR zone, as highlighted here

entered long when Spot 2820 = Fut S1 for today 2825
also RSI 1min was below 15 !!!

booked 3/4 at 2840; trailing rest

 

[Sunil]

today's 1min & 5min chart - a very good study case for hidden bullish divergence....
also a good study for knowing when to make long entry & what should be the stop...
observe breakout points in both price movement & RSI movement...

 

[Sunil]

a neat short trade at 2874 (morning HOD) with RSI 1min also 75+ , 5min RSI @ 70, SPOT RSI @ 80 & slow stochs crossing above 80!!!