Nifty Futures Trading

[pra]

Can you rephrase this again...

I hope you meant "May & June will not test 2800 level"

yes sunil bhai

 

[pra]

Can anyone give me the link to view live advance decline figure of NSE & BSE?

 

[MurAtt]

http://indiabulls.com/securities/market/market.htm

Maybe a bit delayed - say 2-5 mins but good.

 

[taqtrader]

potential WW??
let the market settle down first.

 

[parttimetrader]

My Contribution to Nifty Analysis

Guys, Seniors

Here's my contribution to the board on Nifty Analysis. Please consult the attached PDF file 'My Nifty Chart' for reference.

As I said earlier, I rely on Directional Movement Indicators to see the strength of the trend, and exit when it starts to lose steam - I typically don't wait for a full-blown reversal. It is clear that the steam is coming off this rally.

I have taken a put option position in the ATM option (3600PE) - since there is as yet no downside momentum, buying OTM calls is not helpful. If the downdraft picks up, then I'll look at 3400PE for greater leverage.

Also see Fibonacci levels. I expect it to fall back to the 50% retracement level, if it fails to hold above the 61.8% (strong possibility). Thus my target on the Nifty approximately is 3,428.

Hope this is helpful.

PTT

 

[taqtrader]

PTT I do not understand where & why you put Fibo range.

Here is my analysis as i mentioned problem is with the volume these are not supporting further upmove from here (also many big stocks are there major resistance level)

 

[taqtrader]

i am not able to post my views it is showing moderatore will approved
is there any minimum post or something required to post here?

 

[parttimetrader]

Hi Taq

Thanks for your chart - very informative!

You are right - the fibonaci start/end levels are somewhat discretionary in my case. Around 4325 is where I considered the genuine fast decline to have started, and also roughly corresponds with where the trend indicator gave a buy exit signal. I chose that as the starting point, as this rally has also been just as swift as the decline. On a longer time frame perhaps 6200 on the Nifty may be a better starting point.

The trend indicator is usually a little late with buys and a little early with sells, but that's okay. It gave a Sell at 3500 recently. I am also seeing a bearish divergence between price and 14-day RSI.

I hope I am not suffering from 'confirmation bias', and ignoring any valid signals that the trend is still up or that there is still juice in this rally!

To your exhaustion gap point, we really need to see a down-day with heavy volume today or by Monday for confirmation - right? I think I am I a little pre-emptively short, and not waiting for confirmation.

Let's see. Thanks again for your views. Please do keep posting.

PTT

 

[sandeep.kala]

aaj market upar kaise khula gaya

 

[praveen taneja]

Ok, thanks PT bhai.

Yes - somehow this was eluding me ....

Like my PE n CE which I am still holding.
My plan is more like I am waiting for a still bigger move which will move the value of one of the legs to be more than dbl therefore giving me profit
OR
at some pt of time, one of the leg will become stagnant and the other keeps increasing and the total value is now greater than my buy+brokerage - then I sell.

Bro I always warn every one in options most dangerous enemy is time decay thats why I always try to play in options for intraday and specially i exit even in loss on friday itself
Taken 3700 call at 167 & put at 168 lets see..............