Nifty Futures Trading

[Sunil]

Dear Sunil,

I really appreciate the time taken out by u to explain in such great details about the doubts I asked for (under post no18923 page no.1893). Many many thanks. Friendships all about sharing and caring. (some one said so) It has cleared most of my doubts about RSI.

Now the problem I was refereeing to was about the above chart posted by u. And I am posting the one on my computer.(though its not all that important after ur beautiful explanation but just to know where is something wrong)

The divergence pointed out by u does not appear at all in my charts so wondering where & what to correct?

Here is my chart.

1.
I am joining 1:00, 1:30 & 2:15 lows in price chart; you have started joining from around 12:45 low

2.
This mini-trendline is coming straight coz my price chart is adjusted on log scale, while yours is on linear scale (refer the gaps between nifty levels on right side of both charts (Y axis)

3.
Observe the price bars from 12:45 to 1:05 in both charts...
there's some mismatch in prices...
please confirm from your side

Period of Price Bar     High      Low
12:45 to 12:50          2692     2682 
12:50 to 12:55          2688     2682
12:55 to 13:00          2688     2685
13:00 to 13:05          2680     2674

That means, there's a gap in my chart between the last two quoted bars...!! while in your chart, there's no such gap....
Maybe that's why there's a difference in both charts' RSI calculation...
BUT YAAR, BOTH CHARTS ARE OF SAME PERIOD 21-JAN TO 23-JAN...
IN MY CHART, I HAVE 5 INSTANCES OF SUB-20 LEVEL IN RSI
AND IN YOUR CHART, ONLY 2 INSTANCE!!!
GADBAD KIDHAR HAIN BAAKI 4 INSTANCES MEIN

4.
I have highlighted RSI divergence in your chart too...

See, for intraday purpose, I have the intraday charting facility enabled in my trading terminal (Religare Racepro). Because I track/trade only Nifty, I don't require any standalone charting program.
I also have Sharekhan TradeTiger, which provides me with intraday charts of upto last 5 days - this feature is not there in Religare (only current trading session's charts)...

For chart analysis for more than last 5 days, I have to visit this free charting website - investbulls.com (till date, I am very grateful to vineet for introducing me this website - I would have been a different trader without this website).

NOW, I DON'T KNOW WHY THERE'S A DIFFERENCE BETWEEN RSI VALUES OF INVESTBULLS & SHAREKHAN... WHAT TRENDPLAYER POINTED OUT, WAS ALSO SEEN BY ME IN MY TRADETIGER....
BUT, I BELIEVE & RELY MORE ON INVESTBULLS, AS IT IS A DATA-PROVIDER TOO....
ONLY AN RSI VALUE OF 95 IN 60MIN CHART CAN CAUSE ALL BARS IN RED TODAY (ALSO BECAUSE THERE WAS NO STEEP FALL & ONLY GRADUAL DECLINE)....


I'LL POST 3 CHARTS OF 1MIN TIMEFRAME FROM
1. RELIGARE
2. SHAREKHAN
3. INVESTBULLS

INVESTBULLS HAS STILL NOT UPDATED TODAY'S CHARTS.... SO, I'LL HAVE TO WAIT FOR SOME MORE TIME...

 

[Sunil]

Religare:

Sharekhan:

Investbulls:

doodh ka doodh, paani ka paani
aur
barista ka barista, bisleri ka bisleri
ho gaya

 

[Sunil]

i tried RSI with O H L C in Religare....

nowhere i saw RSI touching 80, like in Investbulls....

but result in investbulls is more dramatic & effective...

kya kiya jaaye, rohit.....

anyone having a professional charting software - i would request to post ONLY today's Jan Future's 1min chart with RSI (14)
PLEASE...

 

[learn2trade08]

since we are talking of divergence,here is one on hourly.

all the best.

 

[Sunil]

Bullish divergence's effect (as highlighted in above 5 min chart) should complete its effect today with gap up open.
(60min chart is also seeing an initial attempt of such bullish divergence)....
5min RSI at close was 60...

wish u were here, L2T...
I wanted to confirm this 60min divergence with u....

as your chart pointed out, the Higher TF wins....
it did not stop with 5min's "mission accomplished" but when all the way up till 60min's "mission" was "accomplished".....



if possible, please post today's 1min chart with RSI (14)....

 

[prasadam]

sunil bhai,


hope it helps.

 

[learn2trade08]

sorry a lil bit of running here and there....will be back regularly from monday onwards....
all the best.
p.srasadam has posted the charts,hope tht suffices to your needs....

wish u were here, L2T...
I wanted to confirm this 60min divergence with u....

as your chart pointed out, the Higher TF wins....
it did not stop with 5min's "mission accomplished" but when all the way up till 60min's "mission" was "accomplished".....



if possible, please post today's 1min chart with RSI (14)....

 

[Sunil]

IS THERE ANY RELATIONSHIP WITH SETTLEMENT DAY'S PREMIUM/DISCOUNT WITH NEXT DAY'S OPENING?

For this, I have made an excel file will all last 12 expiry days of 2008.
It seems that if FUT-2M closes in premium to spot, then there's a gap up opening...
likewise, if FUT-2M closes in discount, then we have a gap down opening...

I am attaching this excel file, but guys with a dedicated charting software, i want a favour...
there are 4 months of which I don't have the correct FUT-2M's closing...

please provide me:

1. Mar-08 series Nifty Future's closing on 28-Feb
2. May-08 series Nifty Future's closing on 24-Apr
3. Oct-08 series Nifty Future's closing on 25-Sep
4. Jan-09 series Nifty Future's closing on 24-Dec

Also, please confirm the expiry dates....
exception was in November-08, when series expired on 28-Nov instead of 27-Nov due to terrorist attacks in Bombay

 

[Sunil]

tomorrow's equation is simple:

below 2800: growl
above 2870: ROAR

between 2800-2870: BORE

Initial upmove above Spot 2830-34, with a confirmatory break of 2850 required for bullishness.
2870 (a multiple top region) has the key for 29xx
ALL APPEARS TO BE THE NECKLINE OF AN INVERTED H&S PATTERN'S INITIAL ATTEMPT (right shoulder not formed yet)

Weakness below yesterday's LOD 2797-95 can target 2777-70 & decent support at 2750.

Bringing out Fibonacci levels (STILL the same band 2870-2660 , but now for retracing upmove)
38% = 2795 (ALSO, yesterday's LOD)
50% = 2770
62% = 2740

Are Fibonacci levels really "invisible" levels.... all the above levels are actually RSR levels too, as seen in chart!!!

 

[Sunil]

In Jan series' FUT chart, there is an unfilled gap at 2782-2777.

Sharekhan is not loading Feb series Nifty Fut this morning...!!! ????

Can somebody confirm this gap caused due to a gap up on 28-Jan and post the actual FEB series Nifty Fut level???
somebody having sharekhan's trade tiger can easily do this