Nifty Futures Trading

[Sunil]

I see a perfect 24-pts step in baby-RSRs in intraday chart of Spot.

Initial weakness below 2795, which may target Thurs LOD 2771.
2771's break leads to IB target of around 2747-50.

For initial upmove, 2819-20 needs to be broken.


2819
2795
2771
2747

(24-pts step - perfect symmetry)


http://www.traderji.com/futures/255...oupled-2-3-day-swing-calls-15.html#post290166

 

[metushar]

Yesterday's last hourly bar was an inside bar....target should be 30 points below 2802 i.e.2772 further reinforcing sunil's analysis.....

 

[Sunil]

Tushar, i don't consider first bar (of 5min duration) and last bar (of 30min duration) in 60min charts for IBs. I compare bars with similiar time duration for IBs.

 

[metushar]

okie....will take it in my learning lessons......

 

[milind]

2780 was important yesterday - support for initial couple hours, and resistance in the mid afternoon. Today as well, its providing good support so far. TBQs are exceeding TSQs, not only in NF and mini, but also in several sock futures (RIL, RCAP, BankNifty (but not SBIN), RelInfra among those I track). I wonder if bears have to worry.

Looking at US markets - SP500 has some room (~30 points) to fall before change in trend is indicated on hourly. Financials have lesser room (XLF currently at 8.61 and previous hourly PL at 8.00)

PS: As I type this - another attempt to break 2780

 

[metushar]

plz explain this,inside bar with chart

After EOD...

Yahoo charts started with 2 point difference on y axis, changed to 5 points and again reverted back to 2 points.........very closely bound market seems like somebody stuck in a small gunny bag and about to come out........


and again to 5 points......as i typed

 

[metushar]

Akruti coming back to reality down 580 points...

 

[Sunil]

plz explain this,inside bar with chart

Post no. 15

 

[Sunil]

satyen, good illustration of +ve RSI divergence in 1min - achieved its target of RSI 70+ above PH in 1min at FUT 2778

 

[columbus]

After EOD...

Yahoo charts started with 2 point difference on y axis, changed to 5 points and again reverted back to 2 points.........very closely bound market seems like somebody stuck in a small gunny bag and about to come out........


and again to 5 points......as i typed

Generally Y-axis take value 1 then 2 then 5.Thereafter 10,20 and 50.
The value difference of 50 is rare and 10 is quite common.
Once it take a value of 5 then it won't revert back to 2.(Unless it is last few
minute chart only)