Nifty Intraday Pivot Points

[penchant]

Re: BankNifty Intraday Pivot Points

Hi Penchant,

thanks a lot for the wishes.

Even I am new to reading charts. As far as I understand it appears that we can go short on BNF. But as usual will do what ever Savant Sir advises.

Thanks
Anil

Hi Anil;
what i have learnt in F&O TRADING IS THAT - if one has the holding power[meaning wthstanding MTM in case it goes adverse] most of the time we can come out of losses -if not in profit.
The problem arises when we trade [over trade] beyond our capacity- without a hedge.
In that case - learning & applying sound money management is a must.
& As Savant Sir mentioned - yes BNF touched & pierced LBB. So it may be ripe for a bounce.

Savant Sir;
is it o.k. if i watch cross over of 3/5 instead of 4/5.? or is it better to watch 4/5 only?

RGDS.

 

[SavantGarde]

Re: BankNifty Intraday Pivot Points

Hi Penchant,

That Is Exactly What Was Meant When I Had Mentioned Deep Pocket....It Could Perhaps Be Any Position Long Or Short, As Long As One's Ledger Can Support MTM, One Will Always Be Able To Come Away With Profit.

There Is A Friend Who Takes Fixed Position Of 5 NFs & 3 BNFs & He Keeps Rolling Over Till It Is Time For Him To Exit & Reverse Position.....& Each Position Of His Can Last From 6-18 Months....& I Have Yet To See Him Ever Book Any Loss In The 5 Years That I Know Him.

His Money Management Is Simple For Every 5 Lacs He Picks Up 1 NF & For Every 8 Lacs He Picks Up 1 BNF, From What I Know He Had Started With 1 NF, Before I Knew Him.

Now Coming To 3/5 or 4/5 Crossover They Are Almost Same Just That With 3/5 Crossovers At Times Are Clearer Than 4/5....But Keep An Eye On BB Too Change The Settings Of BB To 20,3 This Way You Will Have Fewer Instance Of BB Touching...Also Remember The Bar Rule Of Immediate Red Bar After The Green Bar Piercing The Upper BB & Green Bar After The Red Bar In Case Of Lower BB

Happy & Safer Trading

SavantGarde

Hi Anil;
what i have learnt in F&O TRADING IS THAT - if one has the holding power[meaning wthstanding MTM in case it goes adverse] most of the time we can come out of losses -if not in profit.
The problem arises when we trade [over trade] beyond our capacity- without a hedge.
In that case - learning & applying sound money management is a must.
& As Savant Sir mentioned - yes BNF touched & pierced LBB. So it may be ripe for a bounce.

Savant Sir;
is it o.k. if i watch cross over of 3/5 instead of 4/5.? or is it better to watch 4/5 only?

RGDS.

 

[anilbezawada]

Re: BankNifty Intraday Pivot Points

Savant Sir,

Going by the chart below (which is more or less the same chart I posted yesterday), it appears that there has been a Bollinger squeeze and the index is now breaking out on the lower side. Should this pattern not make a good trigger for going short on a BNF for positional trade. Please forgive me if my understanding is incorrect.

Regards
Anil Bezawada

 

[SavantGarde]

Re: BankNifty Intraday Pivot Points

Hi Anil,

Ok Here Is What I See On The Chart

a) RED SMA Is Still Above The Purple SMA, Therefore Still Not Bearish.

b) Now If You See The Gaps Of May, It Is Quite Possible For It Close That, But Not Certain As Yet

c) Ideal & Safer Place To Have Shorted BNF Is The 9th Red Bar From Right Where The 10th Green Bar Had Pierced Upper BB...(Rule Of Red Bar After The Green Bar Which Has Pierced The Upper BB)

My Suggestion Stay Out Till Either

1) Gap Is Filled

2) If The Gap Is Filled Then You Will Have A Bearish Crossover

3) Therefore, One Will Need To Wait For Bullish Crossover Of SMAs To Happen In Order To Go Long.

Safest Thing Is To Wait Till Some Of This Has Played Out.

Happy & Safer Trading

SavantGarde

Savant Sir,

Going by the chart below (which is more or less the same chart I posted yesterday), it appears that there has been a Bollinger squeeze and the index is now breaking out on the lower side. Should this pattern not make a good trigger for going short on a BNF for positional trade. Please forgive me if my understanding is incorrect.

Regards
Anil Bezawada

 

[anilbezawada]

Re: BankNifty Intraday Pivot Points

Savant Sir,

As advised I will wait for some time for things to settle down. Anyways I am completely out of market except for the Options lot which I am holding onto as a gamble rather than a trade.

Regards
Anil Bezawada

 

[penchant]

Re: BankNifty Intraday Pivot Points

Savant Sir,

Going by the chart below (which is more or less the same chart I posted yesterday), it appears that there has been a Bollinger squeeze and the index is now breaking out on the lower side. Should this pattern not make a good trigger for going short on a BNF for positional trade. Please forgive me if my understanding is incorrect.

Regards
Anil Bezawada

Hi Anil;
Any particular reason why u chose 1EMA & 2 E.M.A. for MAs in your chart??
Rgds.

 

[anilbezawada]

Re: BankNifty Intraday Pivot Points

Penchant,

Sorry for the confusion. SMA1 is 20 period SMA and SMA2 is 50 period SMA. Since it is the daily chart, they correspond to 20 Day and 50 Day SMA respectively. The legend is not complete and does not convey this information.

Regards
Anil Bezawada

 

[anilbezawada]

Re: BankNifty Intraday Pivot Points

Hi Savant Sir,

Finally a small green bar after a red bar piercing the lower BB , do you think it is any thing to cheer about?

Regards
Anil Bezawada

 

[penchant]

Re: BankNifty Intraday Pivot Points

Hi Savant Sir,

Finally a small green bar after a red bar piercing the lower BB , do you think it is any thing to cheer about?

Regards
Anil Bezawada

Hi Anil;
Though it pierced LBB; it lks that still not out of woods.
For one - it s still making lower lows & lower highs.[ofcourse today's close is higer than yesterday's close].

Secondly no cross over of lower TF of higher TF from down side.

Thirdly LBB has opened down wards indicating down ward momentum still.

May be it s better to wait for clearer picture.

What do you say; SAVANT SIR?

RGDS.

 

[SavantGarde]

Re: BankNifty Intraday Pivot Points

Hi Anil,

It May As Well Indicate A Short Term Bottom In Place....Considering Bullish Crossover Is Still In Place......

Anyways, If Tempted To Play It, There Is No Problem, But Do It With Tighter S/L If Carrying The Position Overnight.

Happy & Safer Investing

SavantGarde

Hi Savant Sir,

Finally a small green bar after a red bar piercing the lower BB , do you think it is any thing to cheer about?

Regards
Anil Bezawada