SH's 315 Strategy - how to use if effectively

[vinst]

are you talking about these levels on Nifty(Spot)? or Nifty Dec Futures?

NF is Nifty Futures

 

[krist]

Hi all,
I ve been reading this thread for awhile and am quite impressed by it and would like to thank SH for sharing such a wonderful strategy and guiding all as well. Let me first say that I am a novice. Please clear my following doubts:

1) Yesterday SH said: will open fresh longs if NF is closing above 5970-5975 levels.

Plz correct me if I am wrong but day before yestardays close was above this level. So do we take long position even if nifty loses over its previous days close?

2) Is crossover for NF and mininifty same?

3) If i cannot take position at 3.25, is it ok if I take position at next days open? And what if it is lower than previous close for long? Do I still go ahead and go long?
( Found answer to this query.
SH: One can wait for an opening next day and take a position at 9.15 AM next day if they dont have access to real time EOD charts.

Regards.

 

[nishu900]

Yes, 3 EMA touched and I am out of shorts .... will open fresh longs if NF is closing above 5970-5975 levels.

Cheers
SH

Hi SH,
You said you have exited your short position as the price has touched the 3 EMA but as per you strategy you should have been exited when the 3 EMA goes above 15 EMA as per your initial stop loss. Till today the 3 EMA is still below 15 EMA.

1.Why you have exited when the price touches the 3 EMA ?
2. At what price you have exited your position as according to me the price touches 3 EMA around 11-12 PM and you posted after 2 PM ?
Appreciate your's comment on it ?

 

[krist]

Till today the 3 EMA is still below 15 EMA.

Hi nishu,
according to investbulls eod chart, bullish crossover has occured.
What charts do u refer to?

 

[columbus]

2) Is crossover for NF and mininifty same?

NF and MNF are almost similar except for lot size.
The index value are almost similar barring few points ,which can be neglected.
The difference in NF and NS (Nifty Spot) is quite substantial.

 

[nishu900]

Hi nishu,
according to investbulls eod chart, bullish crossover has occured.
What charts do u refer to?

Can you please tell me the value of 3EMA and 15 EMA of nifty future as i am using excel sheet formulas ?

 

[krist]

Can you please tell me the value of 3EMA and 15 EMA of nifty future as i am using excel sheet formulas ?

According to investbulls eod charts they are:

15 ema:5979.03

3 ema: 5995.45

 

[nishu900]

According to investbulls eod charts they are:

15 ema:5979.03

3 ema: 5995.45

I think my Excel formulas clculation is wrong. Anyways i will correct it and thanks for your reply. But my only question is for SH as why he had closed his short position on 3 EMI touch whereas this postion should have been closed at 6016 as on closing basis the 315 strategy reversal had happened. so i am assuming at this point he had already taken his postion on LONG side.

Appreciate if you can reply on the same.

 

[columbus]

According to investbulls eod charts they are:

15 ema:5979.03

3 ema: 5995.45

I think my Excel formulas clculation is wrong. Anyways i will correct it and thanks for your reply. But my only question is for SH as why he had closed his short position on 3 EMI touch whereas this postion should have been closed at 6016 as on closing basis the 315 strategy reversal had happened. so i am assuming at this point he had already taken his postion on LONG side.

Appreciate if you can reply on the same.

I think the levels posted by Krist are OK.
When index hit 5700 (on 26/11/10), a low in last 2.5 months, the volumes
recorded on 2 days, 25/11 & 26/11 were HIGH.Last ONE week volumes were
healthy.
Most indicators are pointing towards a BOUNCE ,but last 2 candles on SPOT
are RED.

 

[Tradewithhunter]

Hi all,
I ve been reading this thread for awhile and am quite impressed by it and would like to thank SH for sharing such a wonderful strategy and guiding all as well. Let me first say that I am a novice. Please clear my following doubts:

1) Yesterday SH said: will open fresh longs if NF is closing above 5970-5975 levels.

Plz correct me if I am wrong but day before yestardays close was above this level. So do we take long position even if nifty loses over its previous days close?

2) Is crossover for NF and mininifty same?

3) If i cannot take position at 3.25, is it ok if I take position at next days open? And what if it is lower than previous close for long? Do I still go ahead and go long?
( Found answer to this query.
SH: One can wait for an opening next day and take a position at 9.15 AM next day if they dont have access to real time EOD charts.

Regards.

Krist,

1. Day before yesterday it closed above 5975 however the 3 EMA was still below 15 EMA that day so no longs. however next day when NF opened above 6000, 3 EMA had moved above 15 EMA. At days end, if NF closed above 5975, the bullish crossover would have confirmed and hence my comment about opening longs if day closes above 5975.

2. Watch NF but you can trade mini nifty based on that if you want.

3. Yes you can take position next days morning too.

Cheers
SH