Nifty Futures Trading

[Sunil]

first upwords n now downwords

yup
third triangle with lower high....
2800 broke... descending triangle in play...

 

[MurAtt]

Nifty below 200MA, looks like no looking up today.

Giraffe thirsty today?

Murtaza

 

[rajuwaste]

is it bulls trap or bears trap

 

[tinchu76]

cup formation in 5 mts??

 

[MurAtt]

Sunil :

Your post on the Blog - Red n Green lines.

I followed today. Did some trades based on that. Is pretty good. N best part is that the system u have suggested is Simple.

Will be checking it out for another few days and then lets see ....

Thanks a ton for this one ...

Murtaza

 

[rajuwaste]

Finally bears trapped atleast today.Sunil did u notice 1day EMA crossed 5day EMA today after one week down turn.Intraday 1EMA tried to cut 5EMA but it manage to hold above that.

 

[ag_fx]

Sunil :

Your post on the Blog - Red n Green lines.

I followed today. Did some trades based on that. Is pretty good. N best part is that the system u have suggested is Simple.

Will be checking it out for another few days and then lets see ....

Thanks a ton for this one ...

Murtaza

Murtaza,
wud u plz post the trades dat u did today and at wat times? I was also tracking it, but found only a single trade feasible at around 11 AM when there was an almost kiss of green and red lines

 

[Sunil]

Today we completed the first instance of "5 days of continuous negative closings" of 2009.
2008 began with this general rule being broken...
Let's see if tomorrow we see a closing in green...

some technical supporting actors:

1.

Bullish Divergence in 60min taking its own sweet time to come into play...


2.
SCO (Sameer's Composite Oscillator) is at 2.80 as at today's close....
Second consecutive day of sub-5 level!!!


3.
For EOD charts, I prefer RSI (5)
(5 days make a week)
It is at 20 today!!!


TIME RIPE FOR A BOUNCE
but what level???

hmm...
Hey guys... what's 50% of this 2250-3150...
right, 2700

and what's special about today's closing... Spot 2745..
well, learnt from satyamsit about his belief in 61.8% retracement...
2745 is 61.8% of 2500-3150...

these Fibonacci supports are invisible and not ALWAYS reliable...

still, I will look out for spot 2700 tomorrow

1. 6th day & 1st instance of 2009 given respect.

2. 60min timeframe came back with vengeance today - only 1 bar in red for today. Can quote its RSI value after 6pm only (perhaps Senty or TP can help)

3. SCO at today's close is 61.70 !!!

is it bulls trap or bears trap

it looks more like a bulls-trap to me.... from depths of oversold in higher TFs to heights of over-bought in lower TFs now.
Initiated small qty shorts at close using options - stop is nearby;

 

[MurAtt]

Actually I was holding 2 PUTS previously held for 2800. I sq them off when price Bounced back (after going below {I had posted that too on the forum} ) from 200 MA.

1. Price bounce from 200MA and
2. Stoch crossover
I bought a 2800 CALL and sq off at Nifty 2820 (pre-fed order - not wanting to carry over tomorrow).

I only followed the chart today from around 2.15pm or so.

 

[MurAtt]

Actually I was holding 2 PUTS previously held for 2800. I sq them off when price Bounced back (after going below {I had posted that too on the forum} ) from 200 MA.

1. Price bounce from 200MA and
2. Stoch crossover
I bought a 2800 CALL and sq off at Nifty 2820 (pre-fed order - not wanting to carry over tomorrow).

I only followed the chart today from around 2.15pm or so.