RAJ NIFTY Trading - Entry Exit based on Daily, Higer and Lower timeframe

[healthraj]

Sir it was high speculative what you did in Nifty, even you did it chart technically on a very high level. Your first short did make a few points and you again shorted a second time later. (I apologize and even correct me if I did miss interpret the second comment of yours in post 155 http://www.traderji.com/trading-dia...aily-higer-lower-timeframe-16.html#post942148) If you are now short naked Nifty future/s over night, this is gambling and not trading.

Somatung,

Do you trade in Indian markets? If Yes what is your view on NIFTY? And Where are you during market hours?. And why do you always have to come and give retrospective comments after market hours, which is anyway not useful.

I don't want to write a big story to defend my positions.

This thread is to post my calls so that I can analyze my calls and I am not trying to provide any tips in this thread.

For Every call that I take I always give the Reason as to whether the signal is from LTF/HTF and whether it is combined with OI.

For the SELL @ 6402, I have given my reason. If you have a different reason from which we can learn let us know the reason.

Reason 1: the MAX OI is 6200-6400 and so 6400 will act as MAJOR Resistance and so 6400 is a point for SELLING. May be it will test 6430/40.
Reason 2: There are two SELL signals in LTF. In HTF also in broader trend it has triggered a SELL.

Having said all that the TREND is Still positive but any Trend will have a correction whether big or Small.

So now you have to explain why you call it Gambling and not Trading.

And in future if you have to say something please come and say it during the market hours and not some retrospective comments at 6 pm. I hate when people come and tell me that Hey you could have done this, you could done that. If you are such an expert come and show your expertise during market hours.

I can also goto everybody's thread and post thousands of messages like these. I will not do that because somebody will know that his/her call has failed and he will anyway learn from it. For my call @ 6402, I will anyway know the result tomorrow and so we all will know if that was a gamble or trading.

 

[Somatung]

Somatung,

For my call @ 6402, I will anyway know the result tomorrow and so we all will know if that was a gamble or trading.

Yes, this is absolutely true. Good luck.

 

[sanjeev258380]

See 6400 pe oi very much less then 6400 ce
So it will take tym atleast 2-3 trading session to cross...if there is move remain abv 6400

 

[healthraj]

See 6400 pe oi very much less then 6400 ce
So it will take tym atleast 2-3 trading session to cross...if there is move remain abv 6400

If you want to compare you have to compare 6400 and 6450 because e NIFTY is already at 6400. or we have to compare 6350 and 6400 for bearish confirmation.

Plus the COI will be reset tomorrow and fresh positions will be taken tomorrow.

For daily movement use COI and not OI. OI is used for the Weekly or Monthly Range. So the monthly/positional range as per OI is 6200-6400. May be it can change tomorrow to 6200-6500.

You can compare 6400 and 6400 only when there is a Breakout at 6400.

Also by what you are saying if 6400PE is less than 6400CE then it is a Bearish signal.

Are you saying 6400 is Bearish or Bullish ?

 

[sanjeev258380]

I m hard to cross 6430-40 till more pos make in 6400 pe

 

[healthraj]

I m hard to cross 6430-40 till more pos make in 6400 pe

Agree with you. For now we can at least say that 6450 is Bearish.

 

[healthraj]

Strange. The OAT shows "Weak Bull" and Max pain at 6200.

I just downloaded the file again and refreshed everything, after making the appropriate change in AP20 in SODATA.

TP,

Agree with you that the version you have does not give the Right MAX PAIN. And I have highlighted it multiple times. I had actually shared another separate excel tool to calculate because with the automation I had a constraint to take only few strikes in NIFTY and it gives the wrong MAX PAIN. So I would suggest to not look at OAT for MAX Pain and use the other tool.

And other point about Weak Bull is actually may be correct because NIFTY is already at 6400. And at 6400 it might be a WEAK BULL. I did not see what was the Signal when market was at 6350. At 6350, at least it should have given a STRONG BULL. If not we have to revisit the logic of how it is calculated. If people have any alternate suggestions please let me know.

 

[timepass]

TP,

Agree with you that the version you have does not give the Right MAX PAIN. And I have highlighted it multiple times. I had actually shared another separate excel tool to calculate because with the automation I had a constraint to take only few strikes in NIFTY and it gives the wrong MAX PAIN. So I would suggest to not look at OAT for MAX Pain and use the other tool.

And other point about Weak Bull is actually may be correct because NIFTY is already at 6400. And at 6400 it might be a WEAK BULL. I did not see what was the Signal when market was at 6350. At 6350, at least it should have given a STRONG BULL. If not we have to revisit the logic of how it is calculated. If people have any alternate suggestions please let me know.

Sorry to bother you with this again, but which other tool ?? I downloaded the max pain calculator and it doesn't seem to have any existing connections to refresh.

 

[healthraj]

Sorry to bother you with this again, but which other tool ?? I downloaded the max pain calculator and it doesn't seem to have any existing connections to refresh.

Yes the tool is not automated. You have to manually copy the Options chain values.
But you can take a Simple approach for calculating the MAX Pain, which is take the average of MAX OI. In the current example the OI is at 6200-6400 and so the MAX Pain would be 6300.

For the Expiry, the MAX Pain does not work 100%. But what I have seen working 100% is that the stock tries to move to the Pivot in the hourly chart.... The Pivot would be the average of Hourly Resistance and Support.

 

[Somatung]

Somatung,

Do you trade in Indian markets? If Yes what is your view on NIFTY? And Where are you during market hours?. And why do you always have to come and give retrospective comments after market hours, which is anyway not useful.

I don't want to write a big story to defend my positions.

This thread is to post my calls so that I can analyze my calls and I am not trying to provide any tips in this thread.

For Every call that I take I always give the Reason as to whether the signal is from LTF/HTF and whether it is combined with OI.

For the SELL @ 6402, I have given my reason. If you have a different reason from which we can learn let us know the reason.

Reason 1: the MAX OI is 6200-6400 and so 6400 will act as MAJOR Resistance and so 6400 is a point for SELLING. May be it will test 6430/40.
Reason 2: There are two SELL signals in LTF. In HTF also in broader trend it has triggered a SELL.

Having said all that the TREND is Still positive but any Trend will have a correction whether big or Small.

So now you have to explain why you call it Gambling and not Trading.

And in future if you have to say something please come and say it during the market hours and not some retrospective comments at 6 pm. I hate when people come and tell me that Hey you could have done this, you could done that. If you are such an expert come and show your expertise during market hours.

I can also goto everybody's thread and post thousands of messages like these. I will not do that because somebody will know that his/her call has failed and he will anyway learn from it. For my call @ 6402, I will anyway know the result tomorrow and so we all will know if that was a gamble or trading.

Man, if you lose your nerves when I call your call a gamble, this is not my problem. You not even have any secure hedge to your naked shorts the way you gave or showed your call. You have no control over any thing over night. This is called pure gambling. You can argue in what ever way, this is fact. This trade is a pure gamble and nothing else. Is it bad? I never told it is bad, I just told it is gambling. So please move on with your thread as you did before and relax.