You will get trapped if you try to play levels on such a day. Based on yesterdays Excel, the first trade I took was getting out of longs I had taken at 5713 on Aug 14 and then immediately reversed @5690. I just sat on it without having to look at other levels. It did shake me out at 5610, but when I saw double top at 5607 on future, I shorted again. Came out at 5570 as I thought it would hold, but I didn't find a need to go long at all. That's what I meant by saying why be biased about going long, either short or don't play when trends play out
NIFTY Options Trading by RAJ
- Thread starter healthraj
- Start date
- Tags nifty options chain raj oat
hi all,
I am new this forum
today the writing was on the wall due to two reasons
first :- NF breaking and falling below the channel on 13 aug
second :- the dorji harami formation in sgx cnx nifty on 14 aug trade
and one more thing was Raj option vol chart trying to warn us on this....
any way I have started collating the charts and study seems interesting ... like a shy women
I am new this forum
today the writing was on the wall due to two reasons
first :- NF breaking and falling below the channel on 13 aug
second :- the dorji harami formation in sgx cnx nifty on 14 aug trade
and one more thing was Raj option vol chart trying to warn us on this....
any way I have started collating the charts and study seems interesting ... like a shy women
FII Analysis for 16th Aug trade
Lets see if there is some respite with FII data
As seen from above, FII's have once again massively shorted Index futures... i think they are well on the way to fill the long held gap that started this bull rally in the anticipation of free fall to 5300.. Is the 20L buying in 5300 Put an indication of this?? Also interesting thing is on the 5400 PE which still stands rock solid at 79L... They are all hoping that the long term support will hold..once nifty cracks 5470.. all the bets are off.. i think all the PE shorts are being held with a tight stop loss..
There is only one way that a massive bull rally can happen at this stage. Since the participants are so overtly short, any positive news can totally screw them up and then we'll see the mother of all rallies. So hope the Indian govt is listening
Lets see if there is some respite with FII data
As seen from above, FII's have once again massively shorted Index futures... i think they are well on the way to fill the long held gap that started this bull rally in the anticipation of free fall to 5300.. Is the 20L buying in 5300 Put an indication of this?? Also interesting thing is on the 5400 PE which still stands rock solid at 79L... They are all hoping that the long term support will hold..once nifty cracks 5470.. all the bets are off.. i think all the PE shorts are being held with a tight stop loss..
There is only one way that a massive bull rally can happen at this stage. Since the participants are so overtly short, any positive news can totally screw them up and then we'll see the mother of all rallies. So hope the Indian govt is listening
The default RSI for Amibroker (and even Metastock) is actually "Smoothed RSI". I modified the AFL code and removed the smoothing process.
You can try it out to see if it "suits" you.
I renamed my RSI to "Pure RSI" if you see the chart above. It is the RSI without the smoothing and yes, it is 14 day "Pure" RSI.
The Website Chartink and another software called chartnexus also remove the smoothing and use "Pure RSI".
Last edited:
The default RSI for Amibroker (and even Metastock) is actually "Smoothed RSI". I modified the AFL code and removed the smoothing process.
You can try it out to see if it "suits" you.
I renamed my RSI to "Pure RSI" if you see the chart above. It is the RSI without the smoothing and yes, it is 14 day "Pure" RSI.
The Website Chartink and another software called chartnexus also remove the smoothing and use "Pure RSI".
Pl share ur experience on the significance of both.
, btw I have done fii analysis for the last two instances where Nifty turned corner after hitting low and it clearly shows the diff this timeSimilar threads
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