Nifty trend

[Capricorn]

NIfty charts has finally started showing gaps.:clapping:

6040 is the direction decider.

Congestion @ 6080 - 90 - 6110, 6150.

S @ 6040 , 5990-6000 , 5970 , 5930.

Possible trades for today 6040-6000 short.

6110-6150 long.

Trade well guys.

Trades on...

 

[rrmhatre72]

Trades on...

hi Cap...,

Do you have positional trade or intraday?
If positional then do you hedge it at the end of the day with options?

 

[Capricorn]

hi Cap...,

Do you have positional trade or intraday?
If positional then do you hedge it at the end of the day with options?

This is intraday. i do have positional trades and yes i hedge with options.

 

[Capricorn]

If we can't do 6150, and break support @ 6110 its weakness. Get ready to short.

Not that u should hold on to long trades that long.Have a trail...

 

[nac]

Last day of Oct (29th) we saw a huge reversal towards the end of the trading session supported by very good volume. With 1%+ gap up on next trading session made some of us to think its heading north. This is the highest close since Oct 15th and close above 6100 two days back to back. Seems to be a good sign for bull run. We are just few days away from "diwali", I guess this sentiment may support bull run. But....

What about the volume? (traders taking off ahead of festival????) Did it support last two trading session for bull rally?

????

Probably we will know when NIFTY breaks out tomorrow as today it's on NR7.

 

[kingfisher3210]

We need to see how Asia markets tomorrow react to US midterm election results today.

Market just need a solid excuse to go down and US midterm elections can provide that in case if Obama democratic party looses.

 

[saivenkat]

Many a times in recent past, DOW RED, NIFTY GREEN happened.

 

[stock72]

Many a times in recent past, DOW RED, NIFTY GREEN happened.

seems you will be more correct if we phrase like this ....
"many times in recent past Nifty green Dow green

 

[kingfisher3210]

Many a times in recent past, DOW RED, NIFTY GREEN happened.

Yup..i totally agree...even as compared to Europe/FTSE 100 nifty behaves opposite in afternoon session.

Thats one of the simplicity i have brought in my trading system over last few months..i have stopped watching Dow and Europe markets absolute movements.

Nifty has its own mind and behaves on its own but sometimes collective sentiment from overnight Dow or Asian markets can affect nifty movement.

Example: Oct 13, 2010, Wednesday.

Overnight Dow = + 10. FOMC meeting minutes at 11:30 p.m India time said QE 2 package will be announced soon.

So Asia markets on Oct 13 morning were up and nifty future blasted from 6118 to 6281 region as high of the day.:thumb:

 

[option fan]

seems you will be more correct if we phrase like this ....
"many times in recent past Nifty green Dow green

yep ... more correct!