Nifty Futures Trading

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uasish

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As i find there is considerable interest for Candel Stick Analysis,in this Thread,i am chipping in with my views after the event happened :),today's opening half hour,for your perusal.


Ooops ,read Engulphing Bear,instead of that i wrongly marked 'Engulphing Bull' (infact for Engulphing Bear only i had to chip in Sorry).
 

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Sunil

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already 13% + fall since mini-budget day....

peeped into history - budget days have been the ultimate "triangle" / "band" breaker days...

especially, last year's
 

new2sm

Well-Known Member
As i find there is considerable interest for Candel Stick Analysis,in this Thread,i am chipping in with my views after the event happened :),today's opening half hour,for your perusal.
Ashishda, just a small correction,
1. Grave stone dojis are where there is a High, no low and the mkt closed at open. The ones you have shown does not match the criteria.
http://www.streetauthority.com/terms/doji.asp
2. Inverted Hammer shown around :09 is actually shooting star. Inverted Hammers are formed in a downtrend and are bullish, a shooting star also looks like IH and are formed in a UT thereby signifying Downtrend. THe one you have shown is Shooting Star.
3. Where you have shown "To be covered here", the next two bars are examples of IH and you can see they were bullish or ended DT correctly(although temp. but good signals to cover and short @higher levels or go long)
4. Where you have written "Engulfing Bull in an Uptrend" looks to me as a Bearish Engulfing. I presume the Black bars are -ve closing/bearish/Red bars sorry of not so.
5. I am not convinced about Seperating Lines. The Second Day's Opening must be equal to or close the previous bar. Even if I consider it to be Bearish Seperating line, the existing trend has to be Down, we see a White Candle and next is Black Bar with its open == previous bar's open, where you have pointed "Seperating Lines" we are not in a DT. Ofcource no question of Bullish Seperating Lines coz after it is a Downtrend. This is because Seperating Lines are continuation pattern and must indicate continuation of Trend nor of them qualify.
 

KomaL2099

Well-Known Member
Ashishda, just a small correction,
1. Grave stone dojis are where there is a High, no low and the mkt closed at open. The ones you have shown does not match the criteria.
http://www.streetauthority.com/terms/doji.asp
2. Inverted Hammer shown around :09 is actually shooting star. Inverted Hammers are formed in a downtrend and are bullish, a shooting star also looks like IH and are formed in a UT thereby signifying Downtrend. THe one you have shown is Shooting Star.
3. Where you have shown "To be covered here", the next two bars are examples of IH and you can see they were bullish or ended DT correctly(although temp. but good signals to cover and short @higher levels or go long)
4. Where you have written "Engulfing Bull in an Uptrend" looks to me as a Bearish Engulfing. I presume the Black bars are -ve closing/bearish/Red bars sorry of not so.
5. I am not convinced about Seperating Lines. The Second Day's Opening must be equal to or close the previous bar. Even if I consider it to be Bearish Seperating line, the existing trend has to be Down, we see a White Candle and next is Black Bar with its open == previous bar's open, where you have pointed "Seperating Lines" we are not in a DT. Ofcource no question of Bullish Seperating Lines coz after it is a Downtrend. This is because Seperating Lines are continuation pattern and must indicate continuation of Trend nor of them qualify.
simply great !!
but one doubt is it necessary for inverted hammer to be bullish and shooting star to be bearish ... I guess both can have black or white bodies .. they are indentified by the preeciding trend.
 

new2sm

Well-Known Member
Komal, Both look same, but here is the catch, you CAN have a Blue/+ve IH at top and Black/Red/-ve closing IH at top and similarly at bottom. The Candlestick Analysis says that inorder to clearly tell whether it is bullish or bearish they call it Shooting Star to signify end of uptrend, a mad uptrend coming to an end....got it....armano pe paani phira types. otherwise throriticall both are in the "shape" of and Inverted Hammer. The same rule goes for Hammers, you have Hammer at the bottom signaling and end to DT and Hanging Man signaling and end to uptrend very intutive actually come to think abt it.
 

new2sm

Well-Known Member
Also one more difference(damn why can't I edit my post), IH and Hammers to be considered strong should ideally be in opposite colours to the preceeding trend so what will you now call it bullish trend but now going to be bearish (inverted) hammer, bearish but now going to be bullish trend but weak blah blah....so simple to say Inverted Hammer if I expect trend to be Bullish and a Shooting Star if I expect trend to go -ve :)
 

Sunil

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Papa 2570 & grand papa 2500 are near....

trying put bear spread:
Sell Call 2500 @ 120
Buy Call 2600 @ 65

Net credit received = Rs 55/-

not for exoiry; not for squaring off on same day; not for squaring off at same level....
if goes near / above 2600, will close Call 2600
if goes near / below 2500, will close Call 2500
 
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